Economics Critical Path Exam Test

What is the net result of reducing the duration of a task (crashing) not on the critical path? A. Decreased project overhead costs B. Reduced likelihood of liquidated damages for late delivery C. Increased slack time associated with the task D. Reduction in the project duration 12) The idea of the value density calculation is: A. finding a carrier that can handle the weight B. matching the weight of the product with an appropriate carrier C. deciding where items should be stocked geographically and how they should be shipped

D. finding the minimum cost carrier 13) When designing a supply chain: A. cost vs customer service must be considered B. quality vs cost must be considered C. lead times vs payment terms must be considered D. customer service vs product customization must be considered 14) According to Hau Lee, which of the following types of products need to be delivered with efficient supply-chains? A. Custom products B. Innovative products C. Grocery products D. High technology products 5) Which of the following product promotional activities would probably help make the supply chain more efficient? A. Price promotions that expire on a specific date B. An “everyday” low price strategy where prices are not dependent on quantity delivered with a specific order C. Special packaging for a specific event that occurs one time each year D. A 2-for-1 price promotion 16) The best operating level is: A. the maximum point of the cost curve B. the level of capacity for which average unit cost is minimized C. aximum capacity D. the level of capacity for which total cost is minimized 17) Capacity utilization rate can be computed as: A. Capacity used – best operating level B. Capacity used x best operating level C. Capacity used / best operating level D. Capacity used + best operating level 18) The objective of __________ is to provide an approach for determining the overall capacity level of capital-intensive resources that best supports the company’s long-range competitive strategy. A. workforce management B. management supervision C. perations management D. strategic capacity planning 19) Lean production systems typically require A. delivery of large lots at frequent intervals B. buyer inspection of goods and materials C. multiple sources from which to purchase D. low inventory levels throughout production 20) Given that the previous forecast of 65 turned out to be four units less than the actual demand; the next forecast is 66. What would be the value of alpha if the simple exponential smoothing forecast method is being used? A. 0. 02 B. 0. 4 C. 0. 04 D. 0. 25

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