Question: QUANTITATIVE TECHNIQUES FOR PLANNING AND CONTROL ESSAY QUESTIONS 1.What is the importance of the qualitative techniques in planning phase? 2.Differentiate PERT from CPM. 3.Define management

QUANTITATIVE TECHNIQUES FOR PLANNING AND CONTROL

ESSAY QUESTIONS

1.What is the importance of the qualitative techniques in planning phase?

2.Differentiate PERT from CPM.

3.Define management science.

PROBLEM SOLVING

PROBLEM 1

As the accounting consultant for Leslie Company, you have compiled data on the day-to-day demand rate from Leslie's customers for Product A and the lead-time to receive Product A from its supplier. The data are summarized in the following probability table:

QUANTITATIVE TECHNIQUES FOR PLANNING AND CONTROL ESSAY QUESTIONS 1.What is the importance

of the qualitative techniques in planning phase? 2.Differentiate PERT from CPM. 3.Define

Demand of Product A Lead Time for Product A Unit Demand Probability of Lead Time in Probability of Per Day Occurrence Days Occurrence C .45 .40 15 2 .35 30 3 25 3 10 1.00 1.00

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2. To understand that as a general rule it takes about 3 minutes before the other part(s) have made up a 90% impression of you.

3. To understand that the first impression means a lot, and it takes a lot of energy to change this first impression.