Assume we decided to fit a linear Trend line to this time

QUESTION

1) Consider the following historic time series data:Assume we decided to fit a linear Trend line to this time series. The following regression outputdisplays these results:What is the back-fitted sales forecast for the first Monday (i.e., at time period 1)?Select one:a. 102b. 82c. 85d. 92e. 2.03%2) The motion œSearch would be considered by the Gilbreths as an effective motion.Select one:TrueFalse3) Which aggregate production planning method will yield an optimal solution in terms ofminimizing total costs?Select one:a. a level capacity planb. a chase demandc. a linear programming methodd. either A or B4) In designing a web page, a meaningful home page title helps inSelect one:a. making a privacy policy more visibleb. making domain name registration easierc. making a web page easier to updated. making a web page easier to downloade. making a web page easier to bookmark and find5) Consider the following historic time series dataAssume we decided to fit a linear Trend line to this time series. The following regression outputdisplays these results:What is next Mondays forecast using a simple 3-day moving average?Select one:a. 110b. 100.33c. 99d. 87e. 2.03%6) The quality improvement tool that is useful in examining the type of defects on a surface areaisSelect one:a. a check sheetb. a flowchartc. a Pareto chartd. histograme. cause-and-effect diagrams7) A manufacturing firm is considering two locations for a plant to produce a new product. Thetwo locations have fixed and variable costs as follows:At what annual output would the company be indifferent between the two locations?Select one:a. 60,000 unitsb. 15,000 unitsc. 10,000 unitsd. 20,000 units8) Assume that the œbias (i.e., arithmetic average of errors) value for a given forecasting modelis positive. This implies that on average the forecasting model is:Select one:a. over-forecastingb. under-forecastingc. neither under-forecasting nor over-forecastingd. cant make judgment based on the given information9) Assume that a product goes through three sequential processes A, B, and C. Moreover, assumethat each process takes 2 minutes per unit. Currently, there is an order for 6 units of this productto be produced. If the manufacturer employs a batch processing system, what is the earliest timefor completing the first unit of this product?Select one:a. 12 minutesb. 18 minutesc. 13 minutesd. 36 minutese. 26 minutes10) A company uses 1200 boxes of typing paper each year. The company is trying to determine itsoptimal order quantity that will minimize its total inventory costs. Each time an order is placed,it costs the company approximately $5 in shipping, receiving and inspecting the goods uponarrival. Since storage space is at premium, the company estimates that it incurs a cost of $1.20per box per year. What is the total minimal inventory cost that will be incurred as a result ofusing the optimal order quantity?Select one:a. $120b. $28.8c. $500d. $100e. none of the above11) The correlation coefficient œr ranges in value between 0 and +1.Select one:TrueFalse12) The quality improvement tool that is useful in examining the association between 2 variablesis a control chartSelect one:TrueFalse13) Planners for a company that makes several models of skis are about to prepare an aggregateplan that will cover 6 periods. They have assembled the following information:CapacityRegular: 300 units per periodCostsRegular output: $2 per unitOvertime output: $3 per unitSubcontract: $6 per unitInventory carrying/holding : $1 per unit per periodBack order: $5 per unit per periodBeginning Inventory: 0Use a matching demand plan supplemented with overtime as needed to answer the next question. Youmay use the spreadsheet below to aid you in your computations.The total cost of this plan isSelect one:a. $3800b. $3900c. $3700d. $3500e. $360014) Consider the following historic time series data:Assume we decided to fit a linear Trend line to this time series. The following regression outputdisplays these results:What would be the forecast for next Monday using the Trend line approach?Select one:a. 80b. 102c. 82d. 99e. 215) Given forecast errors of 4, 8, and -3, what is the mean squared error (MSE)?Select one:a. 29.7b. 3c. 5d. 44.516) Assume that a product goes through three sequential processes A, B, and C. Moreover,assume that each process takes 2 minutes per unit. Currently, there is an order for 6 units of thisproduct to be produced. If the manufacturer employs a one-piece flow system, what is the earliesttime for completing the first unit of this product?Select one:a. 12 minutesb. 18 minutesc. 13 minutesd. 36 minutese. 6 minutes17) Labor productivity is an example of a multi-factor productivity measurement.Select one:TrueFalse18) In an assembly operation at a furniture factory, six employees assembled an average of 450standard dining chairs per 5-day week. What is the labor productivity of this operation?Select one:a. 90 chairs/worker/dayb. 20 chairs/worker/dayc. 15 chairs/worker/dayd. 75 chairs/worker/daye. none of the above19) You have been hired as a consultant to determine whether a relationship exists between theSAT scores and college performance as measured by GPAs. You decide to use a simple linearregression using the data below, and you obtain the following regression output using Excel:The dependent variable in this regression model is:Select one:a. Semesterb. GPAc. SAT scored. none of the above20) A pattern that exhibits repeated predictable spikes in the data at equally spaced intervals iscommonly referred to as a cyclical pattern.Select one:TrueFalse21) A campaign manager for a political candidate must arrange the shipment of 150 cartons ofcampaign buttons from three button producers to three campaign headquarters. The suppliesand demands, and the per-carton transportation costs, are shown below:Let Xij represent the number of units shipped from source i to destination j.Which of the following is an objective function for this linear programming transportation problem?Select one:a. Min 2X11 + 5X12 + 6X13 + 9X21 + 3X22 + 7X23 + X31 + 8X32 + 4X33b. Min 50X11 + 50X12 + 50X13 + 20X31 + 70X32 + 60X33c. Max 2X11 + 5X12 + 6X13 + 9X21 + 3X22 + 7X23 + X31 + 8X32 + 4X33d. Max 20X11 + 70X12 + 60X13 + 50X31 + 50X32 + 50X33e. None of the above22) A moving average forecast will always react quicker to recent changes in the data bydecreasing the averaging period (i.e., less data is included in the average).Select one:TrueFalse23) The Meta Tag œKeywords help web designers inSelect one:a. making their web page easier to updateb. making their web page easier to index and be foundc. making their title page more visibled. making their web page easier to translate to other languagese. registering their domain names24) Seasonally adjusted data may exhibit, a trend, a seasonal component, and a randomcomponent.Select one:TrueFalse25) Assume that a product goes through three sequential processes A, B, and C.Moreover, assume that each process takes 2 minutes per unit. Currently, there isan order for 6 units of this product to be produced. If the manufacturer employs abatch processing system, what is the total completion time for this order (i.e.,completing the entire 6 units)?Select one:a. 12 minutesb. 18 minutesc. 13 minutesd. 36 minutese. none of the above26) You have been hired as a consultant to determine whether a relationship exists between theSAT scores and college performance as measured by GPAs. You decide to use a simple linearregression using the data below, and you obtain the following regression output using Excel:What is the expected GPA if the SAT score is 1150? Base your answer on the estimated regressionmodel.Select one:a. 2.55b. 2.80c. 2.60d. 2.78e. none of the above27) Consider the following historic time series data:Assume we decided to fit a linear Trend line to this time series. The following regressionoutput displays these results:What percentage of the total variation in actual sales has been explained by the Trend line?Select one:a. 96.14%b. 98.95%c. 19.6%d. 86.62%e. 2.03%28) Drexel Valves produces cast bronze valves on an assembly line. It currentlyproduces 800 valves each 8-hour shift. If the production is increased to 1,200valves each shift, the productivity increases by:Select one:a. 50%b. 33%c. 25%d. 67%e. none of the above29) The Baldrige award and ISO 9000 are 2 different types of œcertification quality programs.Select one:TrueFalse30) A company uses 1200 boxes of typing paper each year. The company is trying to determine itsoptimal order quantity that will minimize its total inventory costs. Each time an order is placed,it costs the company approximately $5 in shipping, receiving and inspecting the goods uponarrival. Since storage space is at premium, the company estimates that it incurs a cost of $1.20per box per year. What is the length of an order cycle (in months)? In other words, how manymonths will each optimal order last?Select one:a. 5 monthsb. 4 monthsc. 3 monthsd. 2 monthse. 1 month31) A company uses 1200 boxes of typing paper each year. The company is trying to determine itsoptimal order quantity that will minimize its total inventory costs. Each time an order is placed,it costs the company approximately $5 in shipping, receiving and inspecting the goods uponarrival. Since storage space is at premium, the company estimates that it incurs a cost of $1.20per box per year. How many orders per year will the company place using the optimal orderquantity?Select one:a. 24 ordersb. 20 ordersc. 12 ordersd. 25 orderse. 15 orders32) A company uses 1200 boxes of typing paper each year. The company is trying to determine itsoptimal order quantity that will minimize its total inventory costs. Each time an order is placed,it costs the company approximately $5 in shipping, receiving and inspecting the goods uponarrival. Since storage space is at premium, the company estimates that it incurs a cost of $1.20per box per year.What is the optimal Economic Order Quantity?Select one:a. 10000b. 24c. 100d. 576e. none of the above33) Planners for a company that makes several models of skis are about to prepare an aggregateplan that will cover 6 periods. They have assembled the following information:CapacityRegular: 300 units per periodCostsRegular output: $2 per unitOvertime output: $3 per unitSubcontract: $6 per unitInventory carrying/holding : $1 per unit per periodBack order: $5 per unit per periodBeginning Inventory: 0Use a level capacity production plan to answer the next question. Assume that overtime andsubcontracting is not allowed. Backordering may be used when necessary.You may use the spreadsheet below to aid you in your computations.The total cost of this plan isSelect one:a. $4900b. $4650c. $4700d. $4600e. $450034) Consider the following historic time series data:Assume we decided to fit a linear Trend line to this time series. The following regression outputdisplays these results:The slope of the Trend line is:Select one:a. 1b. 4c. 5d. 80e. 235) A campaign manager for a political candidate must arrange the shipment of 150 cartons ofcampaign buttons from three button producers to three campaign headquarters. The suppliesand demands, and the per-carton transportation costs, are shown below:Let Xij represent the number of units shipped from source i to destination j.Which of the following is a possible constraint for one of the suppliers (i.e., button producers)?Select one:a. 2X11 + 5X12 + 6X13 = 50b. 9X11 + 3X12 + 7X13 = 50c. X11 + X21 + X31 = 50d. X11 + X12 + X13 = 50e. None of the above36) If average demand for an item is 20 units per day, safety stock is 50 units, and lead time isfour days, the Re-Order Point (ROP) will be:Select one:a. 20b. 50c. 70d. 80e. 130

ANSWER

CLICK HERE TO GET AN EXPERT SOLUTION TO THE QUESTION