Quiz 1

Question 1

Production is the creation of goods only. T/F

Answer 1

False

Question 2

Which of the following is not a characteristic of service operations?

A. Intangible Output
B. High Customer Contact
C. High Labor Content
D. Easy measurement of productivity
E. Low uniformity of output

Answer 2

D. Easy measurement of productivity

Question 3

It becomes less expensive to store and transport goods, as they are more value-added by the process in the supply chain. T/F

Answer 3

False

Question 4

Which of the following is not a benefit of using models in decision making?

A. Models are less expensive than the actual
B. Models increase understanding of the problem
C. Models brings power of mathematics on a problem
D. All models are useless
E. Models enable managers to analyze what-if scenarios

Answer 4

D. All models are useless

Question 5

Which one of the following is false about supply chains?

A. Supply chain is a sequence of activities and organizations involved in producing and delivering a good or service
B. Raw material providers, suppliers, producers, distributors, retailers and final customer are all parts of supply chains
C. Customer is not part of the supply chain
D. supply chain management requires information sharing among all stakeholders
E. Supply chain management requires a systems approach

Answer 5

C. Customer is not part of the supply chain

Question 6

What are the basic functional areas of business organizations?

A. Finance, Accounting, Marketing
B. Finance, Operations, Accounting
C. Finance, Operations, Marketing
D. Accounting, Transportation, Marketing
E. Accounting, Operations, Inventory

Answer 6

C. Finance, Operations, Marketing

Question 7

Simplicity is an important feature of models. Complicated models are preferred over simple ones. T/F

Answer 7

False

Question 8

Which of the following lists all major components of a supply chain correctly?

A. Raw material-suppliers-producers-distributor-retailer-customer
B. Raw material-supplier-producer-distributor-customer
C. Raw material-suppliers-producer-distributor-retailer
D. Raw material-suppliers-producer-retailer-customer
E. Producer-distributor-retailer-customer

Answer 8

A. Raw material-suppliers-producers-distributor-retailer-customer

Question 9

What are the commonly used measures of variation?

A.Standard deviation, variance, range
B. Mean and standard deviation
C. Mean and range
D. Mean, mode, and median
E. Mean and variance

Answer 9

A.Standard deviation, variance, range

Question 10

Sustainability is using resources in ways that do not harm ecological systems that support human existence. T/F

Answer 10

True