MGT 393 FINAL QUESTIONS AND ANSWERS
Trumpet of Doom - Answer -Which principle is exhibited in the following? It is difficult
for John, the Operations Manager at a medium manufacturing firm in Milwaukee, to
accurately forecast production because there is so much uncertainty between orders,
materials handling requirements, and inventory levels. That is, productions runs are not
predictable nor are their batch sizes; the inventory is spotty - sometimes carrying too
much and others times running out to early and, each customer has varying quality
requirements.
Fat Head effect and Little's Law - Answer -Which principles are exhibited in the
following? Arnie, the Operations Manager at a foundry producing steel grates in
Pittsburgh tends to put more valence and credence in recent firm sales performance
and less in more distant performance when forecasting manufacturing requirements to
his boss. He had success in the past by doing this and relying on his intuition because
he is also great at picking the outcome of NFL football games.
Mu ( µ )= $170,000 - Answer -Recall the difference between statistics and parameters.
Statistics estimate true parameters via sampling, but it takes a census to know true
parameters. If we were to query all the US Senators serving in 2020-2021 and found
their average income to be $170,000, one would say:
X Bar Charts - Answer -Which of the following is used to evaluate variables in SQC?
Pent-up Demand - Answer -What did Drew call the type of economic demand the US
witnessed post WWII ?
Beta Errors; Type II Errors - Answer -Which two of the following are referred to as
Consumer's Risk in Quality Management?
Negative LCL - Answer -Though one often calculates a negative LCL in Control Limits
Modeling, any graph that includes a ___________ exhibits an incorrect use of the
model.
Tolerance - Answer -The range of permissible variation in the Taguchi model is also
called: __________________.
modeled a strictly linear relationship; - Answer -Which of the following is false about
The Model first created by Genechi Taguchi - the Taguchi Loss Function (TLF)?
Alpha Errors; Type I Errors - Answer -Which of the following are referred to as Seller's
Risk in Quality Management?
Nominal - Answer -The target dimension in the Taguchi Loss Model is referred to as:
, P Bar Charts - Answer -Which of the quality control charts below is used to evaluate
attributes?
Fat Head Effect and Recency Effect - Answer -If I do really well on Test One and then
decide not to study at all for the next test because I think I will do just as good as I
recently did, I am exhibiting two PON we spoke about. Those are:
Variance - Answer -Drew mentioned a single word that explains why waiting lines exist
and management must be aware of Queue Theory to best manage lines effectively and
efficiently. What is that word?
Calculus - Answer -In queuing theory, we use the average arrival rate which is modeled
with lambda and the average service time is modeled with mu. These are derived from
________.
Assignable - Answer -In Statistical Quality Control (AKA SPC), the models give us a
statistical signal when ___________ cause of variation is present in the data
Probability that a certain number of customers are in the waiting line - Answer -In
Queue Theory, what does the following formulae mean?
Pn = [l /m]n Po: l = lambda, m = mu
Value - Answer -In a Postponement strategy the firm postpones adding ______ as far
down the supply chain as is reasonable in order to best assess demand.
Poisson - Answer -We use a number of statistical distributions in Statistical Quality
Control. The ________ distribution is considered fully described, meaning that you only
have to know a single parameter - the mean - in order to know the standard deviation
because the standard deviation is the square root of the mean.
Endogenous - Answer -When we construct Control Limit Charts we use ______ data.
An Experiential Exercise created by the team to match a LO - Answer -The term project
in MGT 393 requires the construction of a Learning Exercise. Which of the following
qualifies as a Learning Exercise that is acceptable?
Customers are likely to assume that eventually they will pay for that "extra" - Answer -
Drew Identified two major reasons to not set out to "exceed customer expectations" -
which of the following is one of those two stated reasons?
Pareto Phenomenon - Answer -80% of my customers are accounting for 20% of my
revenue; and, 20% of my customers are accounting for 80% of my revenue. What is this
an example of?
Trumpet of Doom - Answer -Which principle is exhibited in the following? It is difficult
for John, the Operations Manager at a medium manufacturing firm in Milwaukee, to
accurately forecast production because there is so much uncertainty between orders,
materials handling requirements, and inventory levels. That is, productions runs are not
predictable nor are their batch sizes; the inventory is spotty - sometimes carrying too
much and others times running out to early and, each customer has varying quality
requirements.
Fat Head effect and Little's Law - Answer -Which principles are exhibited in the
following? Arnie, the Operations Manager at a foundry producing steel grates in
Pittsburgh tends to put more valence and credence in recent firm sales performance
and less in more distant performance when forecasting manufacturing requirements to
his boss. He had success in the past by doing this and relying on his intuition because
he is also great at picking the outcome of NFL football games.
Mu ( µ )= $170,000 - Answer -Recall the difference between statistics and parameters.
Statistics estimate true parameters via sampling, but it takes a census to know true
parameters. If we were to query all the US Senators serving in 2020-2021 and found
their average income to be $170,000, one would say:
X Bar Charts - Answer -Which of the following is used to evaluate variables in SQC?
Pent-up Demand - Answer -What did Drew call the type of economic demand the US
witnessed post WWII ?
Beta Errors; Type II Errors - Answer -Which two of the following are referred to as
Consumer's Risk in Quality Management?
Negative LCL - Answer -Though one often calculates a negative LCL in Control Limits
Modeling, any graph that includes a ___________ exhibits an incorrect use of the
model.
Tolerance - Answer -The range of permissible variation in the Taguchi model is also
called: __________________.
modeled a strictly linear relationship; - Answer -Which of the following is false about
The Model first created by Genechi Taguchi - the Taguchi Loss Function (TLF)?
Alpha Errors; Type I Errors - Answer -Which of the following are referred to as Seller's
Risk in Quality Management?
Nominal - Answer -The target dimension in the Taguchi Loss Model is referred to as:
, P Bar Charts - Answer -Which of the quality control charts below is used to evaluate
attributes?
Fat Head Effect and Recency Effect - Answer -If I do really well on Test One and then
decide not to study at all for the next test because I think I will do just as good as I
recently did, I am exhibiting two PON we spoke about. Those are:
Variance - Answer -Drew mentioned a single word that explains why waiting lines exist
and management must be aware of Queue Theory to best manage lines effectively and
efficiently. What is that word?
Calculus - Answer -In queuing theory, we use the average arrival rate which is modeled
with lambda and the average service time is modeled with mu. These are derived from
________.
Assignable - Answer -In Statistical Quality Control (AKA SPC), the models give us a
statistical signal when ___________ cause of variation is present in the data
Probability that a certain number of customers are in the waiting line - Answer -In
Queue Theory, what does the following formulae mean?
Pn = [l /m]n Po: l = lambda, m = mu
Value - Answer -In a Postponement strategy the firm postpones adding ______ as far
down the supply chain as is reasonable in order to best assess demand.
Poisson - Answer -We use a number of statistical distributions in Statistical Quality
Control. The ________ distribution is considered fully described, meaning that you only
have to know a single parameter - the mean - in order to know the standard deviation
because the standard deviation is the square root of the mean.
Endogenous - Answer -When we construct Control Limit Charts we use ______ data.
An Experiential Exercise created by the team to match a LO - Answer -The term project
in MGT 393 requires the construction of a Learning Exercise. Which of the following
qualifies as a Learning Exercise that is acceptable?
Customers are likely to assume that eventually they will pay for that "extra" - Answer -
Drew Identified two major reasons to not set out to "exceed customer expectations" -
which of the following is one of those two stated reasons?
Pareto Phenomenon - Answer -80% of my customers are accounting for 20% of my
revenue; and, 20% of my customers are accounting for 80% of my revenue. What is this
an example of?
