Four activity types that can be considered when gathering data in an effort to monitor a process for quality?

Among the new trends in the 21^st operations management are

a. Less emphasis on quality

b. Less stringent environmental practice

c. Rapid product development

d. A, B, and C are true

e. None of the above

An optimum size of an order (Q*: economic order quantity) ______________ if the cost of carrying (holding) inventory increases, and all other values remain constant (e.g., annual demand, ordering costs) according to the EOQ model.

a. decreases

b. increases

c. remains the same

d. randomly fluctuates

e. cant be determined

In terms of decision theory, an occurrence or situation over which the decision maker has no control is called a(n)

a. decision under certainty

b. decision tree

c. state-of-nature

d. alternative

e. none of the above

A decision tree is a(n)

a. Schematic representation of alternatives and states of nature.

b. matrix representation of alternatives and states of nature.

c. behavioral representation of alternatives and states of nature.

d. algebraic representation of alternatives and states of nature.

e. tabular representation of alternatives and states of nature.