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Unformatted text preview: I | Home > My courses > John Molson School of Business > Commerce } COMM 225 2013M EJ > Topic 7 b Quiz 2 A Started on Thursday, 13 February 2014, 9 36 PM State Finished Completed on Thursday, 13 FebruaryI 2014, 1D 25 PM Time taken 50 mins 1 sec Marks 14 UOIBI] DD Grade 1.75 out or 3 7501716) [Jurz navigation Quaslmn 1 The introduction 01 quantity discounts will cause the optimum order quantity to be: _ _ _ Correct 6 7 l Mmmnmn, Selectone 9 W 11 fi 13 14 15 15 m“ E a, unchanged or greater Inst! WESUD" D 1: always unchanged : _ _ D c smaller or unchanged Show all Questions on one page D d- alwal‘5 Small” Fil'llSA renew D 6. always greater The correct answer is unchanged or greater Queslmn 2 Ann ChDVlSS‘ owner ofthe Perfect Pasta Pizza Parlour, uses 21] pounds of pepperoni each day in preparing pizzas, Order costs for CM.“ pepperoni are $10 08 per order. and holding costs are 4 cents per pound per day. Lead time tor each order is 3 days‘ and the Mm ‘ DD am M pepperoni ilselt costs $100 per pound lop EWMM What is the economic order quantity lor pepperoni’FI Select one Q a, 100 pounds 0 b. 20 pounds 0 c Bl} pounds D d, 30 pounds D e. 40 pounds ' ' m " omL_"fl1QuizZ Quzslmn 3 The lollomng equation is used to predict quarterly demand Yt= 350 a 2.5L where t= l} in the second quarter of last year. Quarter A “comm relatives are 01 = 1 5‘ Q2 2 0,5; 03 = 1 1‘ and Q4 2 fl 6, Whal is the forecast for the last quarter at this year? Mark o on out at LDEI Select one “tag question E 3- 335 x D b, 199 5 D c 268 Quiz navigation [1 d, 255 D e. 201 9 finfin 141516 _ _ _ : : _ _ The correct answer is' 201 1 13 E a 21 22 a a seesaw Show all questions on one page Question I Ann Chevies owner ofthe Perfect Pasta Pizza Pat'luul‘ uses 20 pounds of pepperoni each day in prepanng pizzas, Order costs for Fimsn few“. “comm pepperoni are $10 00 per order, and holding costs are 4 cents per pound per day. Lead time for each order is 3 days. and the ' ' ' M m D W m ' pepperoni itself costs $1Dll per pound a p l: mu If she were to order ED pounds of pepperoni at a time, what would be the total daily costs. including the cost of the pepperoni? flag question Select one 0 1155320 [9 l1$6flltfl x D c $64.00 G d. $64.10 [1 a, $65th The correct answer is $5410 Queslmn 5 Which of the following is Let an assumption of the basic EOQ model? lncorrect Mark D Dl] out pl se‘em one V '5” D a. Lead time does not we . I m naps/rmcudie.(oncurdraurnrcoriiarmcorcuic'revicw.pnprattempt=453nassnowaii=1 w D e. MUD A The correct answer is. $64 10 Quesisorr 5 Which ol the following is n_ot an assumption of the basic EOQ model? lncorrect V 7 Mark D on out ol salen one m"! "av'gauon ' D” D a. Lead time does not vary. m E E E E E that? “WSW” D b. Holding costs are Independent of price D c Only one product is involved. E E E D d. Each order is received in a single delivery EHEIEI GeThezearenoqmntitydiscounhx El El 0 SHOW 0H9 D399 313 time The correct answer is. Holding costs are independent ofprice. Finish renew Queslmn 6 Ann Chowes. owner ofthe Perfect Pasta Pizza Padour. uses 20 pounds of pepperoni each day in prepanng pizzas. Order costs tor Mon“ pepperoni are $10 0t] per order. and holding costs are 4 cents per pound per day. Lead lime for each order is 3 days. and the pepperoni itself costs $3.Dfl per pound Mark El Dl] out pt I [ll] At what point should she reorder pepperoni? Inga question Select one D a. 100 pounds remaining D b. 20 pounds remaining 0 C St} pounds remaining El d. pounds remaining X D e. 40 pounds remaining The correct answer IS. St] pounds remaining V I m naps/rmuodie.cancordraurnrcudiarmcorcuiz'revicw.pnprattempt=4sansatsnuwaii=1 The correct answer is: 50 pounds remaining Questrmr 7 Ann Chovies. owner ofthe Perfect Pasta Fina Parlour, uses 20 pounds of pepperoni each day in prepanng pizzas. Order costs for pepperoni are $10 00 per order, and holding costs are 4 cents per pound per day. Lead lime for each order is 3 days. and the pepperoni ilself costs $3.00 per pound lnoorrect Mark D.DD out at mu If she were to order 3D pounds of pepperoni at a time, what would be the lengfl'i of an order cycle? Elsa question QUE! navigation Select one D a 5 days EIIZI EIEIEI m M ays IE EIIEI Ell E a 3m x DdJJZEdays ENE Defldays Show one page at a time Finish renew The correct answer is 4 days Questrorr a If no variations in demand or lead time exist. the reorder point (ROP) will equal incorrect Mark one out ol selen one ' D” D a. the seNice level .“59 “Em” C b expected usage during lead time D c the E00 0 d. the EOQ plus safety stock Eesafetystockx The correct answer is expected usage during lead time Question 9 Which of the following possible values of alpha would cause exponential smoothing to respond the most quickly to forecast errors? Correct Quiz navigation Show one page at a time Finish rewiew Quesllnn 9 Correct Mark I DDout nt LDEI anm Quesllnn 10 incorrect Mark D on out at too anm Which ofthe folloWing possible values 0! alpha would cause exponential smoothing to respond the most quickly to forecast errors? Select one Dal] Go, 15 Do It] Docs Dam The correct answer is: .15 ProtessorZ needs to allocate time among several tasks next week to include time for students' appotntrnents Thus‘ he needs to forecast the number of students who will seek appointments He has gathered the following data: \VEEK '= STUDENTS (i \\ cclxs ago 83 5 \\ 'C‘CLS ago Ht! 4 Weeks ago 95 3 \\ cclxs ago 80 3 Weeks 11g” (15 Last \\ colt it] What is this week's forecast using the least squares tend Fine for these data? Select one [1155 Clam DcTS ‘ um Quiz navigation BE BEE fl ENE on EEEEEEH @E EH Show one page at a time Finish rewew Quesllnn 11 Correct Mark Looam ai Lou EmmM Question 12 incorrect Mark D on out at Lou flriag question Question 13 Correct Mark LDD out at run .riag question The correct answer is: 4‘3 In the basic EOQ modet, ifannual demand doubles‘ the effect on the E00 is: Select one D a. It doubles. 0 t1 It is about Tl] percent of its preVious amount 0 c lt is four times its ptEVEUUS amount: E d. It increases by about 40 percent 0 e. It is half its preVIous amount. The correct answer is: It increases by about :10 percent The forecasting method which uses anonymous questionnaires to achieve a Consensus forecast is: Select one D a. sates force opinions E h. EUHSJITIEI silveys x D c time series analysis D d: executive opinions D e. the Delphi method The correct answer is: the Delphi method Ann Cherries owner ofthe Perfect Pasta Pizza Pat'iuuf‘ uses 20 pounds of pepperoni each day in prepanng pizzas: Order costs for pepperoni are $10 00 per order, and holding costs are 11 cents per pound per day. Lead time for each order is 3 days. and the pepperoni itself costs $3.Dt} per pound If she were to order 50 pounds of pepperoni at a time, what would be the average inventory Eevel" [Jurz navigation EEEEEE ENE @E Show one page at a time Finrsh renew no Quesliull 15 Correct Mark LDDoutol Inn EmmM Question 16 Correct Mark LDD out DI Inn Emma Question 1? Correct Mark LDD out DI Inn Emma Given arr actual demand of NE a predrcted value of 97‘ and an afpha of .4‘ the simple exponential smoothing forecast for the next period would be: Select one D a, 93,3 5] b, 1002 D c 106.2 K] d, 1013 D e. 30.3 The correct answer is' 100 2 As compared to a srmple movtng average the weighted moving average Is: Select one D a. easier to compute D b smoother D c none of the choices are true 0 d, all of the choices are tme El e, more reflectrve of the recent changes The correct answer is' more reflective of the recent changes A forecast based on the previous forecast plus a percentage of the forecast error is Select one D a. a srmple movrng average forecast D b an associative forecast ‘ um QUE! navigation BE BEE fl ENE no EEEEEEH @E EH Show one page at a time Finrsh revrew Question 1? Correct Mark LDDom or Inn Ilsa question Queslmn 13 lnoorlect Mark o,nn out ot I.nn mwm The correct answer Is: more reflective of the recent changes A forecast based on the prewous forecast plus a percentage of the forecast error is Select one D a, a srmple movrng average forecast D b. an associative forecast E c an exponentially smoothed forecast D d, a centred moving average forecast D e, a naive forecast The correct answer Is: an exponentially smoothed forecast The actual demand and the forecasted demand for a product were as folEows: pcriml‘ l 2 actual: 236 255 forecast 23“ 390 Compute the MAF‘E Select one D a. 23 CI [2.77 D c 203 D r1007? [a e. mneofthese X The correct answer Is: 7 7 '. J IQ to c ‘4 2- wt Quiz navigation Show one page at a time Finish renew Queslmn 19 Correct Mark I on out ml 1.00 wwm Questmn 20 Correct Mark I Donut oI LEIEI wwm Quesllnn 21 lncoi'rect Mark 0 DD out oI LEIEI 3mm“ Simple exponential smoothing is being used to forecast demand. The prewaus forecast of66 turned out to be four units less than actual demand The next forecast is 666, implying a smoothing conmant alpha. equal to' Select one E a. .15 D b. .20 Dr. 10 D d, 60 D e, m The correct answer is: .15 Given forecast errors ofeS, 710, and + 15. what is the mean absolute deVietion (MAD)? Select one D a. none ofthese [111.30 Clans Earn Del] The correct answer is: II] In order to increase the responsiveness ufa forecast made using the moving average technique, the number ofdata points in the average should be: Select one D a, none dfthe choices are true E I], incremed X D 0 decreased I m https'i/ln'iuodleconcordia.Ca1moodlefmodfouiZ/reviewiphpiattempt=458T13Btshowall=l Quiz navigation BE BEE fl ENE an EEEEEEH @E EH Show one page at a time Finish renew Quesllnn 22 lncorrect Mark 0 on out oI I00 mwm Queslmn 23 Correct Mark I.DD out III I 00 wwm ( 4 . -. _.. . ’ _ 'mQHIZZ x - - . . . Question 21 In order to increase the responsiveness ufa forecast made using Ihe moving average technique, the number ufdata points in the incorrect average Should be: Mark 0 on out nI LDEI Select one Elan “Ema” D 3, none of the choices are true El h, increased X D 0 decreased 0 d. multipEiecl by a smaller alpha D e, multiplied by a larger alpha The correct answer is’ decreased A manager uses the following equation te predict montth receipts YF 40090 + 15m, What is the ferecast rm July ufnext year if r : n in April ofthis year? Select one D a. 40,600 D b. 41400 Cl (1 42.250 0 d, 42,100 E] e, 40,459 x The correct answer is' 42,260 In a single period model, if shortage cost is four times excess cost: then the optimum service level is: Select one D a. 50 percent D b. 20 percent Question 23 In a singie period model ifshortage coat is four times excess cost‘ then the optimum service level is Correct Mark LDEI out cil saien one I on D a. 60 percent Else question D b, 20 percent Quiz navigation [1 I: ma percent D cl, 40 percent [a e, Bi) percent The correct answer is. 80 percent Show one page at a time _ _ ? Fimsh rewew Quasi,“ 24 Which of the feilowmg IS Lot true for the EPQ modei Correct Mark I no am at seiem ""9 LDEI D a. Production rate exceeds usage rate. “'59 “25"” D [3. Average Inventory is calculated as onerhali maximum inventory D c The maximum inventory occurs iust after production ceases, D cl, Usage rate is assumed to he constant E e, There are no ordering or setup costs The correct answer is: There are no ordering or setup costs Question 25 Gwen the foilciwing historicai data and weights of .5, 3, and .2, what is the weighted threerpei'iod mowng average forecast for period 5? incorrect Mark o.DD am at LDEI Elsa question i 138 m I - I 'Tflhttpsr/li'nood|e.concordia.ca1moodiei'modfouiz'reviewrphp?attempt=458T13Btshowail=l um \‘allir: Periml Value 3 l 43 v A Question 25 Given the foilciwing historicai data and weights of .5, 3, and .2, what is the weighted threerpei'iod mowng average forecast for period incorrect Mark D.DD am at I [H] ) J . -. i .‘ . -_ ilfigqumm t ennui \ alue }euml '\ 41116 n n . Quiz navigation 1 1-” H -‘ l‘i‘é‘ 3 1-1 2 4 1-H E E E E E EliE IEI jggm EIIEEI m 1442” El El [1 C 144.00 Show one page at a time 0 Finish renew d' 1445? D e, 14430 The correct answer is' 144.30 Quzslmn 26 In the quantity discount modeli in order for the ECG of the iowest curve to be optimum, it must: incorrect Mark 0 DD am at seiem one '5" [aabefiolheleltoflhepricebreakquantityforfltalpncex EBB “35”” 0 t1 be in a feasible range 0 (1 none of the choices 0 d. have the iowest total cost D e, have the iargest quantity compared to other EOO's The correct answer is' be in a feasibie range V Question 27 incorrect Mark can out at LDD nuzz navigation “lag question EEEEEE ENE an @E Show one page at a time Finish rewiew Questinn 23 incorrect Mark and out or I on [mew Questmn 29 The correct answer is: be in a feasible range Which one ofthe following is implied by a "lead time" senrice level of ‘35 percent? Select one Q a. The probdii'ty is 95 percent that demand du'ing lead line will not emaustthe inventory. X D b. The probability is 35 percent that demand during lead time Will not exceed the amount on hand at the beginning of lead time. D c The probability is ‘35 percent that demand during lead lime will exactly equal the amourlt on hand at the beginning of lead time D d. Approximately 35 percent of demand during lead time will be satisfied. 0 e, none otthe choices The correct answer is: The probability is BS percent that demand during lead time wrli not exceed the amounton hand at the beginning ofiead time. A manufacturer is contemplating a swncl'i from buying to producing a certain item Setup cost would be the same as ordering cost, The production rate woutd be about double the usage rate. Compared to the E00, the economic production quantity (EPQ) would be Select one D a. approximately 40 percent smaller D b, approximately 20 percent larger E c. the same x D d, approximately 20 percent smaller 0 e, approximately 40 percent larger The correct answer is: approximately 40 percent larger Which technique is useful in computing seasonal relatives? V m ‘ um https/lrrioodle.Concordia.Cafrnoodlefmod1euiZ/reviewiphpiattempt=458T13Btshowall=l Quesliml 29 Correct Mark t.DDoutot t.DEl [mew QUE! navigation BE BEE fl ENE an EEEEEEH @E HE Show one page at a time mam," 30 Finish reviev.I incorrect Mark ELDD out DI LDl} [WWW Finish review Trioodlo Which technique is useful in computing seasonal relatives? Select one D a, Delphi technique D b, exponential smoothing D c MSE D d. double smoothing E e. centred moving average The correct answer is' centred movrng average Lead time is exactly 20 days long Daily demand is nonhally distributed with a mean at 10 gallons per day and a standard deviation of 2 gallons, What is the standard deviation of demand during lead time? Select one D a. 2 times the square root of20 Eblt'InesIhesquaeerootoHOX Dc inxin D d, none ofthe choices 0 e. 20 x 2 The correct answer is: 2 times the square root of 20 You are logged in as Quiz navigation EIIZI EIEIEI EIEIIEI El EIIEIEI ENE Show one page at a time Finlsh renew onesiinn 13 Correct Mark LDD out Di inn [.39 Question 14 Current Mark LDDout oi i.nn flag question Guesliorl 15 The correct answer is: the Delphi rnethod Ann Chowes‘ owner ofthe Perfect Pasta Piza Padour, uses 20 pounds of pepperoni each day in preparing pizas. Order costs for pepperonl are 510 El] per order, and holding costs are 4 cents per pound per day Lead Ilme for each order l5 3 days‘ and the pepperonl itself cost $3.DU per pound If she were to order 80 pounds of pepperoni at a time, what would be the average inventory level? Select one D a. 20 pounds E b. 40 pounds - D c 60 pounds D d. 100 pounds 0 e. Bl] pounds The correct answer is: Ill] pounds In trendradjusted exponential smoothing‘ the trend adjusted forecast (TAF) consists of: Select one D a, the old forecast adjusted by a trend factor 0 b. a mowing average and a trend factor 0 c the old forecast and a smoothed trend factor Q d. an exponentially smoothed forecast and an estimated trend value E e. an exponentially smoothed forecast and a smoothed trend factor 1 The correct answer is: an exponentially smoothed forecast and a smoothed trend factor AM DEIDUZDIS ...
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