MGT613 Final Term Objective

MGT613 15 Midterm Papers with Ref… · Solved By · Paper No. 01 · FINALTERM EXAMINATION · Fall 2008

MGT613Production / Operations Management (Session - 1) Solved By Honey G <abdulhaiee2004 >

Q1. VU-ASKARI - Please choose one

Which one of the following forms of productivity has units of output per dollar input?

1. Capital
2. Energy
3. Labour
4. Machine

Ref: Capital Productivity Units of output per Rs. input Dollar value of output per Rs. Input

Q2. VU-ASKARI - Please choose one

An organization has describe its distinctive characteristic now what is the next step in strategy formulation process?

1. Competitor’s distinctiveness
2. Selecting the market segment
3. Environmental scanning
4. Productivity Measures

Ref: Service Organizations are no exceptions and work diligently to identify, nurture and protect their distinctive competencies. Service Organizations are busy carrying out detailed environmental scanning and also periodically carryout SWOT Analysis

Q3. VU-ASKARI - Please choose one

Which one of the following correctly explains the quantitative forecasting technique?

1. It consists mainly of numerical descriptions and resist subjective inputs of managers.
2. It consists mainly of subjective inputs and resist particular numerical descriptions.
3. It consists mainly of subjective inputs and resist human factor, personal opinions.
4. It consists mainly of analyzing objective and hard data and resist human factor, opinion.

Ref: Quantitative research focuses on numbers or quantities. Quantitative studies have results that are based on numeric analysis and statistics. Often, these studies have many participants. It is not unusual for there to be over a thousand people in a quantitative research study. It is ideal to have a large number of participants because this gives analysis more statistical power.

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Q4. VU-ASKARI - Please choose one

Which one of the following factors provides a basis for comparing alternative forecasting techniques?

1. Time dimension
2. Reliability factor
3. Degree of accuracy
4. Measuring units

Ref: Accuracy: Forecasts should be accurate. In fact it should carry the degree of accuracy, so the users are aware of the limitations of the forecast. This will also help the end users to plan for possible errors and provide a basis for comparing the forecast with other alternative forecasts

Q5. VU-ASKARI - Please choose one

Given the table: Alternatives Possible future demand Low (Rs.) High (Rs.) Small facility 10,000 8,000 Medium facility 12,000 20,000 Large facility 18,000 15,000 Which one of the following is the correct payoff under MINIMAX regret approach?

1. Rs. 12,000
2. Rs. 6,000
3. Rs. 5,000
4. Rs. 16,000

Ref:

Alternatives

Regrets (in Rupees)

Possible Future Demand Worst · Low · Moderate

Small Facility 18000 – 10000 = 8000 20000 – 8000 = 12000 Medium 18000 – 12000 = 6000 20000 – 20000 = 0 Large 18000 – 18000 = 0 20000 – 15000 = 5000 Now choose the Highest Value from Small, Medium and Large Row. Which are Small = 12000 Medium = 6000 Large = 5000 Now choose the minimum amount from the above figures which is Rs. 5000

Q6. VU-ASKARI - Please choose one

Which one of the following formulae can be used to compute break even point?

1. Q = VC / (R - VC)
2. Q = FC / (R - VC)
3. Q = VC / (R + FC)
4. Q = FC / (R + VC)

Ref: So QBEP = FC/ R-VC (Handouts Page No. 74)

Q7. VU-ASKARI - Please choose one

Which one of the following is used to produce gasoline and petroleum products?

1. Job Shop
2. Batch processing
3. Assembly line
4. Continuous processing

Q02. Question No: 8 VU-ASKARI - Please choose one

Which of the following statements would generally be considered as correct job shop?

1. A continuous process has lower output volume as compared to job shop
2. Equipment flexibility is lower in job shop than that of a continuous process
3. Labour costs are higher in a Job Shop operation than in most other processes
4. Batch processing produces a more standard range of products than continuous flow processes

Q9. VU-ASKARI - Please choose one

Product life cycle is based on which of the following components?

1. Place
2. Demand
3. Supply
4. Price

Ref: Life Cycle Strategies are based on Demand

Q10. VU-ASKARI - Please choose one

Which one of the following is the goal of work sampling?

1. Individual human motions that are used in a job task
2. Determining the length of time it will take to undertake a particular task