Question 4 Question Inventory Student Answer levels for fi

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Question 4.

Question :

Inventory:

Student Answer:

levels for finished goods are a direct function of demand.

includes raw materials, work-in-process, and finished goods.

is any stored resource used to satisfy current or future need.

needs from raw materials through finished goods can be reasonably determined, once finished goods demand is determined.

all of the above

Comments:

Question 5.

Question :

Mark Achin sells 3,600 electric motors each year. The cost of these is $200 each, and demand is constant throughout the year. The cost of placing an order is $40, while the holding cost is $20 per unit per year. There are 360 working days per year and the lead-time is 5 days. If Mark orders 200 units each time he places an order, what would his average inventory be (in units)?

Student Answer:

100

200

120

60

None of the above

Comments:

Question 6.

Question :

Consider the linear programming problem.The maximum possible value for the objective function is:

Student Answer:

1520.

1560.

360.

480.

None of the above

Comments:

Question 9.

Question :

Transportation models can be used for which of the following decisions?

Student Answer:

portfolio selection

facility location

media selection

employee shift scheduling

production mix

Comments:

Question 10.

Question :

The R-chart would be useful when we:

Student Answer:

took a number of measurements and computed the ranges.

took a number of measurements and computed the average.

found the number of defective items in a production lot.

found the fraction of the production lot defective.

none of the above

Comments:

Solution

4.all the above

5.

6.1520

Linear programming : is a method to achieve the best outcome such as maximum profit or lowest cost in a mathematical model whose requirements are represented by linear relationships. Linear programming is a special case of mathematical programming or optimization

alternate names:linear optimization

9. option b : locate new facility

transportation model : It is used to determine how to distribute supplies to various destinations while minimizing total shipping cost.

10.option a: took a number of measurements and computed the ranges

comment:  R chart is a type of control chart used to monitor variables data in statistical quality control,when samples are collected at regular intervals from a process related to business and industry.