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# Statistical process control charts a. display the measurements on every item being produced b. display upper and lower limits for process variables...

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1. Statistical process control charts a. display the measurements on every item being produced b. display upper and lower limits for process variables or attributes, and signal when a process is no longer in control c. indicate to the process operator the average outgoing quality of each lot d. indicate to the operator the true quality of material leaving the process e. none of the above 2. For an x-bar chart where the standard deviation is known, the Upper Control Limit a. is σ 3 below the mean of sample means for a σ 3 control chart b. is σ 3 above the mean of sample means for a σ 3 control chart c. is n σ 3 below the mean of sample means for a σ 3 control chart d. is n σ 3 above the mean of sample means for a σ 3 control chart e. cannot be calculated unless the average range is known 3. If x = 23 ounces, σ = 0.4 ounces, and n = 16, the ± 3 σ control limits will be a. 21.8 to 24.2 ounces b. 23 ounces c. 22.70 to 23.30 ounces d. 22.25 to 23.75 ounces e. none of the above 4. Which of the following is a function of inventory? a. to decouple or separate parts of the production process b. to decouple the firm from fluctuations in demand and provide a stock of goods that will provide a selection for customers c. to take advantage of quantity discounts d. to hedge against inflation e. All of the above are functions of inventory. 5. Which of the following is not one of the four main types of inventory? a. raw material inventory b. work-in-process inventory c. maintenance/repair/operating supply inventory d. safety stock inventory e. All of these are main types of inventory.
6. ABC analysis is based upon the principle that a. all items in inventory must be monitored very closely b. there are usually a few critical items, and many items which are less critical c. an item is critical if its usage is high d. the safety stock (in terms of volume) should be higher for A items than for C items e. an item is critical if its unit price is high 7. The primary purpose of the basic economic order quantity model shown below is H S D Q = 2 * a. to calculate the reorder point, so that replenishments take place at the proper time b. to minimize the sum of carrying cost and holding cost c. to maximize the customer service level d. to minimize the sum of setup cost and holding cost e. to calculate the optimum safety stock 8. A certain type of computer costs \$1,000, and the annual holding cost is 25%. Annual demand is 10,000 units, and the order cost is \$150 per order. What is the approximate economic order quantity? a. 16 b. 70 c. 110 d. 183 e. 600 9. A product has demand of 4000 units per year. Ordering cost is \$20 and holding cost is \$4 per unit per year. The cost-minimizing solution for this product is to order a. all 4000 units at one time b. 200 units per order c. every 20 days d. 10 times per year e. none of the above 10. Your company has compiled the following data on the small set of products that comprise the specialty repair parts division. Perform ABC analysis on the data. Which products do you suggest the firm keep the tightest control over? Explain. SKU Annual Demand Unit Cost R11 250 \$250 S22 75 \$90 T33 20 \$60 U44 150 \$150 V55 100 \$75
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1. Statistical process control charts
a. display the measurements on every item being produced
b. display upper and lower limits for process variables or attributes, and signal when a process is
no...

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