- ?Calculate the exponential smoothing forecast for Week 3 using a smoothing constant of 0.2. The forecast for Week 1 is 32. The time-series data follow...
- ?The probabilities shown in the table below represent the estimate of sales for a new product. Sales (Units).. Probability 0-200 .................1...
- ?Automite Company is an automobile replacement parts dealer in a large metropolitan community. Automite is preparing its sales forecast for the coming...
- ?company has accumulated data for the last 24 months in order to determine if there is an independent variable that could be used to estimate shipping...
- ?The correlation coefficient that indicates the weakest linear association between two variables is
- ?Correlation is a term frequently used in conjunction with regression analysis and is measured by the value of the coefficient of correlation, r. The ...
- ?A regression equation
- ?All of the following are assumptions underlying the validity of linear regression output except
- ?In the standard regression equation y = a + bx, the letter b is best described as a(n)
- ?The letter x in the standard regression equation is best described as a(n)
- ?In regression analysis, which of the following correlation coefficients represents the strongest relationship between the independent and dependent va...
- ?The internal auditor of a bank has developed a multiple regression model which has been used for a number of years to estimate the amount of interest ...
- ?The manager of the assembly department of a company would like to estimate the fixed and variable components of the department’s cost. To do so, the...
- ?A division uses a regression in which monthly advertising expenditures are used to predict monthly product sales (both in millions of dollars). The re...
- ?In determining cost behavior in business, the cost function is often expressed as y = a + bx. Which one of the following cost estimation methods shoul...
- ?For cost estimation, simple regression differs from multiple regression in that simple regression uses only
- ?Slawford Manufacturing developed the following multiple regression equation, utilizing many years of data, and uses it to model, or estimate, the cos...
- ?In order to analyze sales as a function of advertising expenses, the sales manager of Smith Company developed a simple regression model. The model in...
- ?The results of regressing Y against X are as follows: Coefficient Intercept 5.23 Slope 1.54 When the value of X is 10, the estimated value of Y is
- ?While gathering information to use in preparing the annual budget, a company identifies cost drivers associated with manufacturing costs. Which one o...
- ?A company uses simple regression to predict one of its semi-variable costs. The computed equation of y = –25,000 + 2.5x appears to have a good visu...
- ?A single-product company uses regression to predict one of its factory overhead costs with materials used as the independent variable. The regression ...
- ?SleepTight, a nationwide retail mattress firm, will begin selling high-end crib mattresses next year. Management believes sales for this product will ...
- ?Corrigon Industries is preparing a bid for a special project requiring the production of 35,000 units. The engineering personnel have advised that the...
- ?The average labor cost per unit for the first batch produced by a new process is $120. The cumulative average labor cost after the second batch is $72...
- ?Lake Corporation manufactures specialty components for the electronics industry in a highly labor intensive environment. Arc Electronics has asked Lak...
- ?A particular manufacturing job is subject to an estimated 90% learning curve. The first unit required 50 labor hours to complete. What is the cumulati...
- ?The expected value of perfect information is the
- ?A particular manufacturing job is subject to an estimated 80% learning curve. The first unit required 50 labor hours to complete. If the learning curv...
- ?A learning curve of 80% assumes that direct labor costs are reduced by 20% for each doubling of output. What is the incremental cost of the sixteenth ...
- ?Red Baron, Inc., is a new competitor in the production of airplane propellers. Red Baron has to train its employees in the process of making propeller...
- ?It is estimated that a particular manufacturing job is subject to an 80% learning curve. The first unit required 50 labor hours to complete. What is t...
- ?A company plans to bid on a special project that calls for a total of 24,000 units. The units will be produced in lots, with the first lot consisting ...
- ?In decision making under conditions of uncertainty, expected value refers to the
- ?Seacraft, Inc., received a request for a competitive bid for the sale of one of its unique boating products with a desired modification. Seacraft is n...
- ?The technique used to predict the change in direct labor hours as a new process stabilizes is
- ?Learning curves are best used to predict
- ?A manufacturing company has the opportunity to submit a bid for 20 units of a product on which it has already produced two 10-unit lots. The productio...
- ?Which one of the following will allow a better use of standard costs and variance analysis to help improve managerial decision-making?
- ?Which one of the following techniques would most likely be used to analyze reductions in the time required to perform a task as experience with that t...
- ?A manufacturing firm plans to bid on a special order of 80 units that will be manufactured in lots of 10 units each. The production manager estimates...
- ?Which one of the following statements best demonstrates the concept of the learning curve?
- ?Langley Corporation is developing a new product that will be manufactured in pairs. The company recently produced the first two units of this product...
- ?The quantitative technique used to project the direct labor costs for full-scale production of a product from the initial run of the product is
- ?Which one of the following is a sales forecasting technique that can be utilized in preparing the annual profit plan?
- ?The four components of time series data are secular trend, cyclical variation, seasonality, and random variation. The seasonality in the data can be r...
- ?A forecasting technique that is a combination of the last forecast and the last observed value is called
- ?As part of a risk analysis, an auditor wishes to forecast the percentage growth in next month’s sales for a particular plant using the past 30 month...
- ?What are the four components of a time series?
- ?The moving-average method of forecasting
- ?Violation of which assumption underlying regression analysis is prevalent in time series analysis?
- ?Sales of big-screen televisions have grown steadily during the past 5 years. A dealer predicted that the demand for February would be 148 televisions...
- ?Sunrise Corporation’s actual sales for May were $22,000,000, a result $600,000 greater than projected. Actual sales for June totaled $22,500,000. U...
- ?A common characteristic of simple regression analysis, learning curve analysis, and time series analysis is that they all.
- ?Oakhurst manufactures goods the month before they are sold and uses a 3-month moving average to predict sales. Sales for the first 4 months of the ye...
- ?Knollwood Industries uses exponential smoothing to forecast collections of outstanding accounts receivable. The company’s credit sales are relative...
- ?The expected monetary value of an event
- ?Expected value in decision analysis is
- ?The expected monetary value of an act is the
- ?The expected value of perfect information is the
- ?In decision theory, those uncontrollable future events that can affect the outcome of a decision are
- ?The Booster Club at Blair College sells hot dogs at home basketball games. The group has a frequency distribution of the demand for hot dogs per game...
- ?A company is simulating the actions of a government agency in which 50% of the time a recall of a product is required, 40% of the time only notificat...
- ?Sweivel Company is preparing its budget and, taking into consideration the recent pace of economic recovery, has developed several sales forecasts an...
- ?Bosworth, Inc., sells its product for $100 per unit while incurring variable operating costs of $60 per unit and $25,000,000 of fixed operating costs...
- ?Brown Veterinary Clinic schedules weekend staff based on the number of animals being boarded. The clinic has a total of four staff members available ...
- ?A quantitative technique useful in projecting a firm’s sales and profits is
- ?A widely used approach that managers use to recognize uncertainty about individual items and to obtain an immediate financial estimate of the consequ...
- ?Through the use of decision models, managers thoroughly analyze many alternatives and decide on the best alternative for the company. Often, the actu...
- ?The process of evaluating the effect of changes in variables such as sales price or wage rates on the optimum solution in a linear programming applic...
- ?Tarleton Company operates several retail stores. To support the company’s long-term goals, operating income should be at least 10% of sales. Tarlet...
- ?Which of the following steps in the strategic management process should be completed first?
- ?A firm’s statement of broad objectives or mission statement should accomplish all of the following except
- ?Intensity of rivalry among existing firms in an industry increases when I. Products are relatively undifferentiated II. Consumer switching costs are...
- ?Structural considerations affecting the threat of substitutes include all of the following except
- ?A corporation is performing research to determine the feasibility of entering the truck rental industry. The decision to enter the market is most lik...
- ?Which industry factor does not contribute to competitive rivalry?
- ?Which condition does not increase the threat of new competitor entry into the industry?
- ?The concurrent action of basic competitive forces as defined by Porter’s model determines the
- ?Which factor most likely encourages entry into an existing market?
- ?Which of the following is a favorable condition for a firm competing in a profitable, expanding industry?
- ?Michael E. Porter’s competitive strategies model includes an analysis of the competitive forces that determine the attractiveness of an industry. T...
- ?Which factor increases the threat of entry into an industry?
- ?A manufacturing company produces plastic utensils for a particular segment at the lowest possible cost. The company is pursuing a cost
- ?What operations strategy is most likely to be adopted when the product sold by an organization is a commodity and the market is very large?
- ?During the growth stage of a product’s life cycle,
- ?In a product’s life cycle, the first symptom of the decline stage is a decline in the
- ?Jack-O-Lantern, Inc., is trying to decide which competitive strategy it should try to implement. Since the company has recently started producing Hal...
- ?A strategic business unit (SBU) has a high relative market share (RMS) and a low market growth rate (MGR). According to the growth-share matrix for c...
- ?In the Boston Consulting Group (BCG) growth-share matrix, which strategic business units are strong competitors in high growth markets but usually ha...
- ?A strategic business unit (SBU) has a low relative market share (RMS) and a high market growth rate (MGR). According to the portfolio model for compe...
- ?According to the growth-share matrix approach developed by the Boston Consulting Group, a harvest strategy is most likely to be used for SBUs that ar...
- ?According to the Boston Consulting Group’s portfolio model for competitive analysis, the strategy for a strong cash cow should be
- ?A typical life cycle progression for a successful firm within the Boston Consulting Group’s growth-share matrix is
- ?The balanced scorecard provides an action plan for achieving competitive success by focusing management attention on critical success factors. Which ...
- ?Using the balanced scorecard approach, an organization evaluates managerial performance based on
- ?On a balanced scorecard, which of the following would not be an example of a customer satisfaction measure?
- ?On a balanced scorecard, which is more of an internal process measure than an externalbased measure?
- ?Consider the following categories of performance measures. I. Profitability measures. II. Customer-satisfaction measures. III. Efficiency, quality,...
- ?Which one of the following statements about a balanced scorecard is incorrect?