1. In constructing control limits for a c-chart, what is type I error when we use 95 percent level of confidence? a. 4.56% b. 0.026% c. 5% d. 1%

2. AKC Inc. averages $12 million worth of inventory in all its worldwide locations. They operate 51 weeks a year and each week average $3 million in sales (at cost). Their inventory turnover is about: a. 12.75 turns. b. 5.00 turns. c. 10.20 turns. d. 17.00 turns.

3.Last year, CMS averaged $5.5 million worth of inventory and their cost of goods sold was $24 million. The company operated 50 weeks per year. Their weeks of supply was a. Less than or equal to 10 weeks of supply b. Greater than 10 but less than or equal to 11 weeks of supply c. Greater than 11 but less than or equal to 12 weeks of supply d. Greater than 12 but less than or equal to 13 weeks of supply