- All Exams Instant Download
Based on the above table, calculate the mean absolute deviation (MAD).
Based on the above table, calculate the mean absolute deviation (MAD). A . -25B . 6.25C . 18.75D . 20View AnswerAnswer: B Explanation: The mean absolute deviation (MAD) is a measure of variability that indicates the average distance between observations and their mean. MAD uses the original units of the...
For a company that uses first in, first out (FIFO) inventory accounting, the actual use in production of a recently arrived shipment of more expensive components rather than lower-cost components previously received will have which of the following results?
For a company that uses first in, first out (FIFO) inventory accounting, the actual use in production of a recently arrived shipment of more expensive components rather than lower-cost components previously received will have which of the following results?A . Higher cost of goods sold (COGS)B . Lower COGSC ....
The horizon for forecasts that are input to the sales and operations planning (S&OP) process should be long enough that:
The horizon for forecasts that are input to the sales and operations planning (S&OP) process should be long enough that:A . cumulative forecast deviation approaches zero.B . planned product launches can be incorporated.C . required resources can be properly planned.D . supply constraints can be resolved.View AnswerAnswer: C Explanation: The...
Which of the following statements is an assumption on which the economic order quantity (EOQ) model is based?
Which of the following statements is an assumption on which the economic order quantity (EOQ) model is based? A. Customer demand is known but seasonal. B. Items are purchased and/or produced continuously and not in batches. C. Order preparation costs and inventory-carrying costs are constant and known. D. Holding costs,...
Which of the following systems would be the most cost-efficient for inventory management of a low value item?
Which of the following systems would be the most cost-efficient for inventory management of a low value item?A . Order pointB . Material requirements planning (MRP)C . Periodic reviewD . Economic order quantity (EOQ)View AnswerAnswer: C Explanation: Periodic review is a system that determines the order quantity and reorder point...
Which of the following amounts represents the cumulative difference between the required capacity and the available capacity of Months 1 through 3?
The question below is based on the following information: Work Center 1 has an available capacity of 1,200 hours per month. Which of the following amounts represents the cumulative difference between the required capacity and the available capacity of Months 1 through 3?A . 50B . 150C . 1.250D ....
Which of the following items does the master scheduler have the authority to change in the master scheduling process?
Which of the following items does the master scheduler have the authority to change in the master scheduling process?A . Product mixB . Aggregate volumeC . Engineering change effectivity dateD . Customer order quantitiesView AnswerAnswer: A Explanation: The master scheduler has the authority to change the product mix in the...
Which of the following environments is most suitable for the use of kanban systems?
Which of the following environments is most suitable for the use of kanban systems?A . Short product life cyclesB . High levels of customizationC . Intermittent productionD . Stable and predictable demandView AnswerAnswer: D Explanation: Kanban is a pull system that uses visual signals to trigger the replenishment of materials...
Forecast error typically triggers forecast revision when it is:
Forecast error typically triggers forecast revision when it is:A . used in computing the tracking signal.B . associated with the Introduction stage of the product life cycle.C . continually increasing.D . caused by random variation.View AnswerAnswer: C Explanation: Forecast error is the difference between the actual demand and the forecasted...
Which of the following outcomes Is a benefit of mixed-model scheduling?
Which of the following outcomes Is a benefit of mixed-model scheduling?A . Increased inventoryB . Improved demand responseC . Fewer setupsD . Fewer material shortagesView AnswerAnswer: C Explanation: Mixed-model scheduling is a technique that produces different models of the same product family in the same production line or work center....
