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Question
(p. 106-108) At a decision point in a decision tree, which machine would you select when trying to maximize payoff when the anticipated benefit of selecting machine A is $45,000 with a probability of 90%; the expected benefit of selecting machine B is $80,000 with a probability of 50% and the expected benefit of selecting machine C is $60,000 with a probability of 75%?
A. Machine A
B. Machine B
C. Machine C
D. You would be indifferent between machines A and C
E. You would be indifferent between machines A and B
Answer
This answer is hidden. It contains 161 characters.
Related questions
Q:
(p. 463) A favorable business climate in facility location decision-making might include local government providing basic skill training for prospective members of the workforce.
Q:
(p. 451) Name the two measures of sourcing efficiency. 1 _______________________
2 _______________________
Q:
(p. 447) The step in the Six-step Process for Green Sourcing where a set of metrics against which the supplier will be measured for the contract's duration is called: ______________________.
Q:
(p. 449) Acquisition costs include which of the following costs?
A. Quality costs
B. Maintenance and repair costs
C. Environmental costs
D. Supply chain costs
E. Customer dissatisfaction costs
Q:
(p. 447) The six-step process for green sourcing includes which of the following?
A. Provide a press release to local (and perhaps national) media.
B. Include members of environmental groups in the decision
C. Notify the state and federal environmental agencies of your plans
D. Perform an environmental impact study
E. Develop the sourcing strategy
Q:
(p. 441) Which of the following is not an improvement-driven reason for outsourcing?
A. Improve quality and productivity
B. Enhance effectiveness by focusing on what you do best
C. Improve risk management
D. Obtain expertise, skills and technologies not otherwise available
E. Improve credibility and image by associating with superior providers
Q:
(p. 439) In Hau Lee's uncertainty framework to classify supply chains, a supply chain for functional products with a stable supply process is called which of the following?
A. Efficient
B. Forward looking
C. Agile
D. Risk hedging
E. Responsive
Q:
(p. 451) If the average aggregate inventory value is $100,000 and the cost of goods sold is $450,000, which of the following is inventory turnover?
A. 19.23
B. 4.5
C. 0.8654
D. 0.2222
E. None of the above
Q:
(p. 451) If the average aggregate inventory value is $1,200,000 and the cost of goods sold is $600,000, which of the following is inventory turnover?
A. 60
B. 10.4
C. 2
D. 0.5
E. None of the above
Q:
(p. 451) The inventory turnover ratio used in measuring supply-chain efficiency is found by the ratio of which of the following?
A. Cost of goods sold/Average aggregate inventory value
B. Fixed costs/Variable costs
C. Sales costs/Marketing costs
D. Cost of goods sold/Cost to sell goods
E. Operations flow costs/Suppliers flow costs
Q:
(p. 443) Capability Sourcing refers to outsourcing the functions that they do best to trusted key partners.
Q:
(p. 443) A firm that controls most of the activities in its supply chain is said to be vertically integrated.
Q:
(p. 445) An important opportunity in green sourcing is waste reduction opportunities.
Q:
(p. 441) A financially-driven reason for outsourcing is that it can help gain access to new markets, especially in developing countries.
Q:
(p. 441) An organizationally-driven reason for outsourcing is that it can transform the organization.
Q:
(p. 440) Outsourcing allows a firm to achieve an improved focus on its core competencies.
Q:
(p. 440) Outsourcing is the act of moving some of a firm's internal activities and decision responsibility to outside providers.
Q:
(p. 465, 471) As a facility location consultant, would you advise a client wanting to locate a retail service facility differently than you would advise a client wanting to locate an on-line stock trading operation? Explain.
Q:
(p. 461) Name the five of the six transportation modes discussed in the textbook. 1) ____________________
2) ____________________
3) ____________________
4) ____________________
5) ____________________
Q:
(p. 404) Name Fujio Cho's seven prominent types of waste to be eliminated. 1) ___________________
2) ___________________
3) ___________________
4) ___________________
5) ___________________
6) ___________________
7) ___________________
Q:
(p. 417) Imagine comparing a manufacturing operation using regular lot-sizing and the same operation with a Kanban/lean production approach. What would be your expectations of the difference between the total cost (i.e., inventory holding costs + setup/ordering costs) of each?
A. Inventory holding cost will increase non-linearly with inventory
B. Total costs will be lower for the regular lot-size operation
C. Total costs will be lower for the Kanban/lean production operation
D. The order quantity will be larger for the Kanban/lean production approach
E. As long as the total quantity is the same, total costs will be the same
Q:
(p. 417) To implement a flow process in developing a lean system a firm might do which of the following?
A. Improve capacity utilization
B. Build product in anticipation of demand
C. Reduce setup/changeover time
D. Eliminate some fixed costs
E. Implement groupware
Q:
(p. 418) In implementing a lean production system you should work with suppliers to do which of the following?
A. Open facilities near your factory
B. Focus workstation capacities
C. Backflush
D. Provide quality at the source
E. Reduce lead times
Q:
(p. 416) In setting up a Kanban control system you need to determine the number of Kanban card sets needed. If the expected demand during lead time is 50 per hour, the safety stock is 20% of the demand during lead time, the container size is 4. If the lead time to replenish an order is 8 hours, what number of Kanban card sets is needed?
A. 60
B. 80
C. 90
D. 120
E. 150
Q:
(p. 414) Which of the following are elements that address elimination of waste under lean production?
A. Production ahead of demand
B. Group plant loading technology
C. Kanban production control system
D. Minimized run times
E. Full capacity utilization
Q:
(p. 404) In the textbook Toyota's Fujio Cho identified which of the following types of waste to be eliminated?
A. Underproduction
B. Excess quality
C. Preventive maintenance
D. Product defects
E. Kaizen
Q:
(p. 470) Plant A is located at the (X, Y) coordinates of (200, 500) and has a volume of shipping of 400 units a day. Plant B is located at the (X, Y) coordinates of (300, 100) and has a volume of shipping of 300 units a day. Using the centroid method, which of the following is the X coordinate for the new plant location?
A. About 208
B. About 227
C. About 243
D. About 389
E. X coordinate cannot be computed from the data given
Q:
(p. 463) Which of the following is not a criterion that influences manufacturing plant or warehouse facility location decisions?
A. Government barriers
B. Trading blocs
C. Environmental regulation
D. Immigration rules
E. Local labor costs
Q:
(p. 463) Which of the following is a not criterion that influences manufacturing plant or warehouse facility location decisions?
A. Suppliers
B. Free trade zones
C. Political risk
D. Gross national product
E. Tariffs and customs duties
Q:
(p. 465) Facility location decisions are made using analytical techniques that are able to weigh a large number of different variables equally.