MCQ on Manufacturing and Operations Management 5

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Objective Questions and Answers of MBA: MCQ on Manufacturing and Operations Management 5

Subject: MCQ on Manufacturing and Operations Management 5

Part 5: List for questions and answers of Manufacturing and Operations Management

 

Q1. A manager uses the following equation to predict monthly receipts: yt = 40,000 + 150t. What is the forecast for july if t = 0 in april of this year?

a) 40,450

b) 40,600

c) 42,100

d) 42,250

 

Q2. In trend-adjusted exponential smoothing, the trend adjusted forecast (taf) consists of

a) an exponentially smoothed forecast and a smoothed trend factor

b) An exponentially smoothed forecast and an estimated trend value

c) The old forecast adjusted by a trend factor

d) The old forecast and a smoothed trend factor

 

Q3. In the “additive” model for seasonality, seasonality is expressed as a ______________ adjustment to the average; in the multiplicative model, seasonality is expressed as a __________ adjustment to the average

a) quantity, percentage

b) Percentage, quantity

c) Quantity, quantity

d) Percentage, percentage

 

Q4. Which technique is used in computing seasonal relatives?

a) Double smoothing

b) Delphi

c) Mean squared error (mse)

d) centered moving average

 

Q5. A persistent tendency for forecasts to be greater than or less than the actual values is called

a) bias

b) Tracking

c) Control charting

d) positive correlation

 

Q6. Which of the following might be used to indicate the cyclical component of a forecast?

a) leading variable

b) Mean squared error (mse)

c) Delphi technique

d) Exponential smoothing 

 

Q7. The primary method for associative forecasting is

a) Sensitivity analysis

b) regression analysis

c) Simple moving averages

d) Centered moving averages

 

Q8. Which term most closely relates to associative forecasting techniques?

a) Time series data

b) Expert opinions

c) Delphi technique

d) predictor variables

 

Q9. Which of the following corresponds to the predictor variable in simple linear regression?

a) Regression coefficient

b) Dependent variable

c) independent variable

d) Predicted variable

 

Q10. The mean absolute deviation (mad) is used to

a) Estimate the trend line

b) Eliminate forecast errors

c) measure forecast accuracy

d) Seasonally adjust the forecast

 

Q11. Given forecast errors of 4, 8, and – 3, what is the mean absolute deviation?

a) 4

b) 3

c) 5

d) 6

 

Q12. Given forecast errors of 5, 0, – 4, and 3, what is the mean absolute deviation?

a) 4

b) 3

c) 2.5

d) 2

 

Q13. Given forecast errors of 5, 0, – 4, and 3, what is the bias?

a) -4

b) 4

c) 5

d) 12 

 

Q14. Which of the following is used for constructing a control chart?

a) Mean absolute deviation (mad)

b) mean squared error (mse)

c) Tracking signal (ts)

d) Bias

 

Q15. The two most important factors in choosing a forecasting technique are

a) Cost and time horizon

b) Accuracy and time horizon

c) cost and accuracy

d) Quantity and quality

 

Q16. The degree of management involvement in short range forecasts is

a) None

b) low

c) Moderate

d) High

 

Q17. Which of the following is not necessarily an element of a good forecast?

a) Estimate of accuracy

b) Timeliness

c) Meaningful units

d) low cost

 

Q18. Current information on _________ can have a significant impact on forecast accuracy

a) Prices

b) Promotion

c) Inventory

d) all of the above

 

Q19. A managerial approach toward forecasting which seeks to actively influence demand is

a) Reactive

b) proactive

c) Influential

d) Protracted

 

Q20. Customer service levels can be improved by better

a) Mission statements

b) Control charting

c) short term forecast accuracy

d) Exponential smoothing 

 

Part 5: List for questions and answers of Manufacturing and Operations Management

 

Q1. Answer: a

Q2. Answer: a

Q3. Answer: a

Q4. Answer: d

Q5. Answer: a

Q6. Answer: a

Q7. Answer: b

Q8. Answer: d

Q9. Answer: c

Q10. Answer: c

Q11. Answer: c

Q12. Answer: b

Q13. Answer: b

Q14. Answer: b

Q15. Answer: c

Q16. Answer: b

Q17. Answer: d

Q18. Answer: d

Q19. Answer: b

Q20. Answer: c