1. The methods for selecting a location include 1) Factor Rating Method, 2) Lowest Locational Total Cost Method and 3) Center of Gravity Method.

   True

   False

9 points

QUESTION 2

1. Service Location Strategy focuses on maximizing revenue while Goods Location Strategy focuses on minimizing cost.

   True

   False

9 points

QUESTION 3

1. The following are types of Layouts namely, Office layout, Retail layout and Warehouse layout.

   True

   False

9 points

QUESTION 4

1. The following are analytics used in Layout Strategy problems: Time Available, Total Task Time, Cycle Time, Minimum number of workstations and Efficiency.

   True

   False

9 points

QUESTION 5

1. Components of Labor Standards include Average Observed Time, Performance Rating, Normal Time, Allowance Factors and Standard Time.

   True

   False

QUESTION 6

1. The number of observations required in work-sampling, n, is given by: n=(z² )(p)(1-p)/h²

   True

   False

9 points

QUESTION 7

1. The objective of Inventory management is to balance inventory investment (cost) and customer service.

   True

   False

9 points

QUESTION 8

1. The Economic Order Quantity (EOQ), the number of orders, the Reorder Point (ROP), the time between orders are important analytics in Inventory Management.

   True

   False

QUESTION 9

1. The number of working days for a firm is an important input in calculating the compnonents of the Economic Order Quantity (EOQ) and the Economic Production Quantity (EPQ).

   True

   False

9 points

QUESTION 10

1. The reason sports teams have training camp (Baseball has Spring Training) and military units have training schedules are to move down the Learning Curve so as to move up the Improvement Curve.

   True

   False

9 points

QUESTION 11

1. The Learning Curve is the complement of the Improvement Curve i.e., Learning Curve% + Improvement Curve% = 100% therefore going down the Learning Curve results in going up the Improvement Curve

   True

   False