Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Basic Finance Expert

MULTIPLE CHOICE

1.Regarding the quality of design, production, and distribution of products, an ethical requirement for management is to 

1.a. determine whether any of the organization's stakeholders are violated by poor quality products 

2.b. gain ISO 14000 certification for the organization 

3.c. obtain a product safety certificate from the Consumer Product Safety Commission 

4.d. have the organization's legal staff write disclaimers in the product instruction booklets 

5.e. compare the cost of product liability to the external failure cost 

2.If 1 million passengers pass through the St. Louis Airport with checked baggage each month, a successful Six Sigma program for baggage handling would result in how many passengers with misplaced luggage? 

1.a. 3.4 

2.b. 6.0 

3.c. 34 

4.d. 2700 

5.e. 6 times the monthly standard deviation of passengers 

3.Which of the following is true about ISO 14000 certification? 

1.a. It is not a prerequisite for ISO 9000 certification. 

2.b. It deals with environmental management. 

3.c. It offers a good systematic approach to pollution prevention. 

4.d. One of its core elements is life-cycle assessment. 

5.e. All of the above are true. 

4.Suppose that a firm has historically been achieving “three-sigma” quality.  If the firm later changes its quality management practices such that begins to achieve “six-sigma” quality, which of the following phenomena will result? 

1.a. The average number of defects will be cut in half. 

2.b. The specification limits will be moved twice as far from the mean. 

3.c. The average number of defects will be cut by 99.9997%. 

4.d. The average number of defects will be cut by 99.87%. 

5.e. The average number of defects will be cut by 99.73%. 

5. To become ISO 9000 certified, organizations must 

1.a. document quality procedures 

2.b.have an onsite assessment 

3.c. have an ongoing series of audits of their products or service 

4.d. all of the above 

5.e. none of the above 

6. Total quality management emphasizes 

1.a. the responsibility of the quality control staff to identify and solve all quality-related problems 

2.b.a commitment to quality that goes beyond internal company issues to suppliers and customers 

3.c.a system where strong managers are the only decision makers 

4.d.a process where mostly statisticians get involved 

5.e.ISO 14000 certification 

7. A successful TQM program incorporates all of the following except

1. a. continuous improvement 

2.b. employee involvement 

3.c. benchmarking 

4.d.centralized decision-making authority 

5.e.none of the above; a successful TQM program incorporates all of the above 

8. "Kaizen" is a Japanese term meaning 

1.a. a foolproof mechanism 

2.b. just-in-time (JIT) 

3.c.  fishbone diagram 

4.d.setting standards 

5.e.continuous improvement 

9. Which of the following statements regarding "Six Sigma" is true? 

1.a. The term has two distinct meanings—one is statistical; the other is a comprehensive quality system. 

2.b.Six Sigma means that about 94 percent of a firm's output is free of defects. 

3.c.The Six Sigma program was developed by Toyota in the 1970's. 

4.d.The Six Sigma program is for manufacturing firms, and is not applicable to services. 

5.e.Six Sigma certification is granted by the International Standards Organization (ISO). 

10. Quality circles members are 

1.a.paid according to their contribution to quality 

2.b.external consultants designed to provide training in the use of quality tools 

3.c.always machine operators 

4.d.all trained to be facilitators 

5.e.none of the above; all of the statements are false 

11.Techniques for building employee empowerment include 

1.a. building communication networks that include employees 

2.b. developing open, supportive supervisors 

3.c. moving responsibility from both managers and staff to production employees 

4.d. building high-morale organizations 

5.e. All of the above are techniques for employee empowerment. 

12.Building high-morale organizations and building communication networks that include employees are both elements of 

1.a. ISO 9000 certification 

2.b. Six Sigma certification 

3.c. employee empowerment

4.d. Taguchi methods 

5.e. the tools of TQM 

13.The process of identifying other organizations that are best at some facet of your operations and then modeling your organization after them is known as 

1.a. continuous improvement 

2.b. employee empowerment 

3.c. benchmarking 

4.d. copycatting 

5.e. patent infringement 

14.ISO 9000 seeks standardization in terms of 

1.a. products

2. b. production procedures 

3.c. suppliers' specifications 

4.d. procedures to manage quality 

5.e. all of the above 

15.Costs of dissatisfaction, repair costs, and warranty costs are elements of cost in the 

1.a. Taguchi Loss Function

2. b. Pareto chart 

3.c. ISO 9000 Quality Cost Calculator 

4.d. process chart 

5.e. none of the above 

16.A quality loss function includes all of the following costs except 

1.a. the cost of scrap and repair 

2.b. the cost of customer dissatisfaction 

3.c. inspection, warranty, and service costs

4. d. sales costs 

5.e. costs to society

Basic Finance, Finance

  • Category:- Basic Finance
  • Reference No.:- M91056579
  • Price:- $16

Priced at Now at $16, Verified Solution

Have any Question?


Related Questions in Basic Finance

Cost of capital problem - wacc paramount roofing inc went

COST OF CAPITAL Problem - WACC Paramount Roofing Inc. went public by issuing 1 million shares of common stock at $50 per share. The shares are currently trading at $64 per share. Current risk-free rate is 5.2%, and marke ...

Leibniz sells you an annuity that pays 1500 every month

Leibniz sells you an annuity that pays $1,500 every month from the end of September 2018 to the end of August 2022 with annual interest rate 7% compounded monthly. (round off all answers to two decimal places) (a) What i ...

Matt johnson delivers newspapers and is putting away 50 at

Matt Johnson delivers newspapers and is putting away ?$50 at the end of each quarter from his paper route collections. Matt is 9 years old and will use the money when he goes to college in 9 years. What will be the value ...

Question - bridgestone a japanese-based company receives

Question - Bridgestone, a Japanese-based company, receives recurring income in USD of about USD 5 billion per year. The current exchange rate is ¥120/USD. The annualized exchange rate volatility is 10%. The interest rate ...

What is marketing discipline what is most peoples

What is marketing discipline? What is most people's perception of marketing discipline? Name an organization that has done a great job marketing. What did they do to make you feel this way?

What are the ways that it can help comply with legal

What are the ways that IT can help comply with legal requirements and social responsibilities surrounding the sales of alcohol?

Question during 2014 its first year of operations as a

Question: During 2014, its first year of operations as a delivery service, Loonie Corp. entered into the following transactions. 1. Issued shares of common stock to investors in exchange for $80,000 in cash. 2. Borrowed ...

Prokter and gamble pg has historically maintained a

Prokter and Gamble (PG) has historically maintained a debt-to-equity ratio (D/E) of approximately 0.3. Its cost of equity is 7.5% and it can borrow at 4.3%. PG's tax rate is 40%. PG believes it can increase debt without ...

Cowcor copr currently has 76 million in debt outstanding

COWCOR COPR currently has $76 million in debt outstanding with a 6% interest rate. The terms of the loan require it to repay $19 million of the balance each year. Suppose the marginal corporate rate is 40% and that the i ...

Question - river enterprises has 500 million in debt and 20

Question - River Enterprises has $500 million in debt and 20 million shares of equity outstanding. Its excess cash reserves are $15 million. They are expected to generate $200 million in free cash flows next year with a ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As