Can anyone help me with this Operations Management homework? QUESTION 1

1. A periodic review system requires a precise counting of inventory only at specific times.
2. True
3. False

2 points

QUESTION 2

1. ABC inventory systems are based on the concept that all items kept in inventory are equally important.
2. True
3. False

2 points

QUESTION 3

1. Fixed order quantity lot size has a variable order size based on lead time.
2. True
3. False

2 points

QUESTION 4

1. Dependent demand is demand for items that are used to make another item.
2. True
3. False

2 points

QUESTION 5

1. An MRP system creates a master schedule.
2. True
3. False

2 points

QUESTION 6

1. Activities with zero slack are critical activities.
2. True
3. False

2 points

QUESTION 7

1. For an activity, the ES is 0, the EF is 2, the LS is 3, and the LF is 5. What is the slack?
2. 0
3. 2
4. 3
5. 5
6. 8

2 points

QUESTION 8

1. Malone Corporation orders product from a supplier. Malone has a demand of 4,500 units per year of the product. The order cost that Malone pays each time it places an order is $250. The holding cost per unit per year for the product is $80. What is the optimal order quantity for Malone if it chooses to use an EOQ policy?

2 points

QUESTION 9

1. For an EOQ ordering quantity of 750 units, an ordering cost of $5 per order, a holding cost of $10 per unit per year, and an annual demand of 900 units, what is the annual holding cost for this value of Q?

2 points

QUESTION 10

1. For an EOQ ordering quantity of 750 units, an ordering cost of $5 per order, a holding cost of $10 per unit per year, and an annual demand of 900 units, what is the annual total cost for this value of Q?

2 points

QUESTION 11

1. The primary objective of an inventory system is to determine
2. When items should be ordered and how they should be shipped.
3. What products will sell and what quantity is required.
4. When items should be ordered and what quantity should be ordered.
5. Who an order should be placed with and how many are needed.
6. What quantity is required and where the order should be stored.

2 points

QUESTION 12

1. Which of the following is generally not a reason to carry inventory?
2. To minimize setup and ordering cost
3. To minimize customer service levels
4. To maximize labor and equipment utilization
5. To minimize transportation costs
6. To minimize cost of materials

2 points

QUESTION 13

1. If the optimal order size (Q) for an EOQ policy is 250 units, what would be the maximum inventory level?
3. 250
4. 125
5. 0
6. None of the above

2 points

QUESTION 14

1. In MRP, scheduled receipts refer to orders that have been placed, but not yet received.
2. True
3. False

2 points

QUESTION 15

1. A critical path activity is an activity that has no slack.
2. True
3. False

2 points

QUESTION 16

1. The critical path is the __________ path in the project network.
2. Longest
3. Shortest
4. Neither of these

2 points

QUESTION 17

1. Which of the following holding cost rates would be considered "typical?"
2. 5
3. 10
4. 25
5. 50

2 points

QUESTION 18

1. The newsvendor model is often used to make decisions related to overbooking in the airline and hotel industries.
2. True
3. False

2 points

QUESTION 19

1. A small airline is trying to determine how many seats to overbook. The airline estimates that the cost they experience from a customer that is overbooked is $400. The airline also estimates that lost revenue due to an unsold seat is $275. The airline is willing to consider overbooking up to five seats. The CUMULATIVE probabilities of the number of customer cancellations is shown in the table below. What is the optimal number of seats to overbook?
2. SeatsCumulative Probability
3. 00.3
4. 10.5
5. 20.7
6. 30.8
7. 40.95
8. 51

2 points

QUESTION 20

1. Use the table of activities, durations, and predecessors (below). What is the critical path?
4. PQST
5. PRST
6. Cannot be determined from the information provided

2 points

QUESTION 21

1. What is the early start time for activity Q?See the table of network activities, durations, and predecessors below.

2 points

QUESTION 22

1. Which of the following activities (with associated slack values) would be the best candidate for crashing?
2. Activity A, Slack = 7
3. Activity B, Slack = 4
4. Activity C, Slack = 1
5. Activity D, Slack = 0

2 points

QUESTION 23

1. A project can have multiple critical paths.
2. True
3. False

2 points

QUESTION 24

1. Which MRP approach tends to minimize the amount of inventory carried?
2. FOQ
3. POQ
4. L4L
5. All of the above tend to carry the same amount of inventory

2 points

QUESTION 25

1. Under which inventory system will there be a fixed time between orders, but different order quantities?
2. Random review
3. Continuous review
4. Periodic review

2 points

QUESTION 26

1. Which of the following is NOT an assumption of the EOQ model?
2. Continuous review
3. Demand is known and constant
4. Lead time is known and constant
5. All demand is satisfied
6. All of the above are assumptions of the EOQ model

2 points

QUESTION 27

1. Assume a lot-for-lot (L4L) lot sizing rule. Lead time is 2 weeks, beginning inventory is 200, and safety stock is 50.
2. In which week would the first non-scheduled (planned) order be released?

2 points

QUESTION 28

1. If the optimal order size (Q) for an EPQ policy is 250 units, what would be the average inventory level?

2 points

QUESTION 29

1. The primary role of operations management is ____________?
2. Transportation
3. Transformation
4. Strategic Planning
5. None of these