The output of the master schedule is a(n) ______.
a. materials requirement plan
b. operations plan
c. master production schedule
d. production plan
c. master production schedule
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The term management by exception refers to investigating ________.
A) significant variances B) only unfavorable variances C) all variances D) all favorable variances
Managers will use the methods of quantitative management as ________ in the decision process.
A. worst case B. the only valid approach C. definitive D. a supplement E. absolute truth
Which of the following is FALSE about exponential smoothing models?
a. They create accurate forecasts. b. They lend themselves to large-scale forecasting. c. They are not very adaptive. d. They can be easily applied and automated.
During World War II, many new scientific and quantitative techniques were developed to assist the military, and these developments were so successful that many companies started using similar techniques in managerial decision making and planning
after the war. Indicate whether the statement is true or false