ISQS 3344 TEST PAPER 2026/2027 QUESTIONS AND
SOLUTIONS RATED A+
✔✔__________is a method for building a statistical model that defines a relationship
between a single dependent variable and one or more independent variables, all of
which are numerical. - ✔✔Regression analysis
✔✔__________is the difference between the observed value of the time series and the
forecast. - ✔✔Forecast error
✔✔__________is a forecasting technique that uses a weighted average of past time-
series values to forecast the value of the time series in the next period. - ✔✔Single
exponential smoothing
✔✔Which of the following is an example of waste in organizations? - ✔✔Planned
product obsolescence
✔✔A__________produces finished-goods inventory in advance of customer demand
using a forecast of sales. - ✔✔Push system
✔✔In the context of the major categories of waste classified by the Toyota Motor
Company, which of the following is true of overproduction? - ✔✔It ties up production
facilities, and the resulting excess inventory simply sits idle.
✔✔Create & Sell Manufacturing Inc. uses a Kanban system for a component. The daily
demand is 175 units. Each container has a combined waiting and processing time of
0.20 days. If the container size is 10 brackets and the safety factor is 11 percent, how
many Kanban card sets should be authorized? - ✔✔4
✔✔A manufacturer of automobile engines is designing a new Kanban system for engine
#321. The demand for #321 is 75 parts per day, and the container can hold 8 parts at a
time. The total processing and waiting time is 3 days. The manager wants a safety
factor (α) of 2 or 200 percent. How many Kanbans are required in this system? - ✔✔85
✔✔The equation used to calculate the number of Kanban cards required in a system is
K space equals space fraction numerator d space left parenthesis p space plus space w
right parenthesis space left parenthesis space 1 space plus alpha right parenthesis over
denominator C end fraction - ✔✔A form of safety stock
✔✔Drive-in-Style Motors follows a traditional manufacturing system. It produces a fixed
number of cars every month. It is now planning to switch to a system of manufacturing
where workers go to the source of required parts and withdraw them based on
requirements. In this scenario, which of the following is most likely to occur if Drive-in-
, Style Motors implements this plan? - ✔✔It's component parts and subassemblies will be
replenished only when needed.
✔✔In the context of lean tools and approaches,__________, one of the components of
the 5S principles, refers to a clean work area. - ✔✔Shine
✔✔__________is focused on ensuring that operating systems will perform their
intended function reliably. - ✔✔Total productive maintenance(TPM)
✔✔Which of the following is true of a push manufacturing system? - ✔✔It leads to high
work-in-process inventories and high levels of indirect labor and overhead.
✔✔The expected time for any PERT task to complete is given by ________. - ✔✔(A +
4M + B)/6
✔✔The duration of any project is determined by the ____________. - ✔✔Longest path
through the Project Network
✔✔Which of the following is an assumption made by the critical path method (CPM)? -
✔✔The activity time estimates are accurate and stable.
✔✔In the project management life cycle, the__________involves collecting and
assessing status reports, managing changes to baselines, and responding to
circumstances that can negatively impact the project participants. - ✔✔Controlling
Stage
✔✔A__________is a temporary and often customized initiative that consists of many
smaller tasks and activities that must be coordinated and completed to finish the entire
initiative on time and within budget. - ✔✔Project
✔✔In the context of projects,__________are discrete tasks that consume resources
and time. - ✔✔Activities
✔✔Which of the following is an example of a project that belongs to the functional area
of accounting and finance? - ✔✔Planning a firm's initial public offering
✔✔If an activity can be completed in 10 weeks at a cost of $3,200 instead of the normal
time of 12 weeks at a cost of $2,400, then the crash cost per week for the given activity
is _____. - ✔✔$400
✔✔Which of the following stages of the project life cycle entails the scheduling of
activities? - ✔✔The Planning Stage
SOLUTIONS RATED A+
✔✔__________is a method for building a statistical model that defines a relationship
between a single dependent variable and one or more independent variables, all of
which are numerical. - ✔✔Regression analysis
✔✔__________is the difference between the observed value of the time series and the
forecast. - ✔✔Forecast error
✔✔__________is a forecasting technique that uses a weighted average of past time-
series values to forecast the value of the time series in the next period. - ✔✔Single
exponential smoothing
✔✔Which of the following is an example of waste in organizations? - ✔✔Planned
product obsolescence
✔✔A__________produces finished-goods inventory in advance of customer demand
using a forecast of sales. - ✔✔Push system
✔✔In the context of the major categories of waste classified by the Toyota Motor
Company, which of the following is true of overproduction? - ✔✔It ties up production
facilities, and the resulting excess inventory simply sits idle.
✔✔Create & Sell Manufacturing Inc. uses a Kanban system for a component. The daily
demand is 175 units. Each container has a combined waiting and processing time of
0.20 days. If the container size is 10 brackets and the safety factor is 11 percent, how
many Kanban card sets should be authorized? - ✔✔4
✔✔A manufacturer of automobile engines is designing a new Kanban system for engine
#321. The demand for #321 is 75 parts per day, and the container can hold 8 parts at a
time. The total processing and waiting time is 3 days. The manager wants a safety
factor (α) of 2 or 200 percent. How many Kanbans are required in this system? - ✔✔85
✔✔The equation used to calculate the number of Kanban cards required in a system is
K space equals space fraction numerator d space left parenthesis p space plus space w
right parenthesis space left parenthesis space 1 space plus alpha right parenthesis over
denominator C end fraction - ✔✔A form of safety stock
✔✔Drive-in-Style Motors follows a traditional manufacturing system. It produces a fixed
number of cars every month. It is now planning to switch to a system of manufacturing
where workers go to the source of required parts and withdraw them based on
requirements. In this scenario, which of the following is most likely to occur if Drive-in-
, Style Motors implements this plan? - ✔✔It's component parts and subassemblies will be
replenished only when needed.
✔✔In the context of lean tools and approaches,__________, one of the components of
the 5S principles, refers to a clean work area. - ✔✔Shine
✔✔__________is focused on ensuring that operating systems will perform their
intended function reliably. - ✔✔Total productive maintenance(TPM)
✔✔Which of the following is true of a push manufacturing system? - ✔✔It leads to high
work-in-process inventories and high levels of indirect labor and overhead.
✔✔The expected time for any PERT task to complete is given by ________. - ✔✔(A +
4M + B)/6
✔✔The duration of any project is determined by the ____________. - ✔✔Longest path
through the Project Network
✔✔Which of the following is an assumption made by the critical path method (CPM)? -
✔✔The activity time estimates are accurate and stable.
✔✔In the project management life cycle, the__________involves collecting and
assessing status reports, managing changes to baselines, and responding to
circumstances that can negatively impact the project participants. - ✔✔Controlling
Stage
✔✔A__________is a temporary and often customized initiative that consists of many
smaller tasks and activities that must be coordinated and completed to finish the entire
initiative on time and within budget. - ✔✔Project
✔✔In the context of projects,__________are discrete tasks that consume resources
and time. - ✔✔Activities
✔✔Which of the following is an example of a project that belongs to the functional area
of accounting and finance? - ✔✔Planning a firm's initial public offering
✔✔If an activity can be completed in 10 weeks at a cost of $3,200 instead of the normal
time of 12 weeks at a cost of $2,400, then the crash cost per week for the given activity
is _____. - ✔✔$400
✔✔Which of the following stages of the project life cycle entails the scheduling of
activities? - ✔✔The Planning Stage
