Ask Basic Finance Expert

MULTIPLE CHOICE 

1.Pareto charts are used to 

1.a. identify inspection points in a process 

2.b. outline production schedules 

3.c. organize errors, problems, or defects 

4.d. show material flow 

5.e. all of the above 

2.The "four Ms" of cause-and-effect diagrams are 

1.a. material, machinery/equipment, manpower, and methods 

2.b. material, methods, men, and mental attitude 

3.c. named after four quality experts 

4.d. material, management, manpower, and motivation 

5.e. none of the above 

3.Among the tools of TQM, the tool ordinarily used to aid in understanding the sequence of events through which a product travels is a 

1.a. Pareto chart

2. b. process chart

3. c. check sheet

4. d. Taguchi map

5. e. poka-yoke 

4.The process improvement technique that sorts the "vital few" from the "trivial many" is 

1.a. Taguchi analysis

2. b. Pareto analysis 

3.c. benchmarking 

4.d. Deming analysis

5. e. Yamaguchi analysis 

5.A production manager at a pottery factory has noticed that about 70 percent of defects result from impurities in raw materials, 15 percent result from human error, 10 percent from machine malfunctions, and 5 percent from a variety of other causes. This manager is most likely using 

1.a. a Pareto chart 

2.b. a scatter diagram 

3.c. a Taguchi loss function 

4.d. a cause and effect diagram 

5.e. a flow chart 

6.A customer service manager at a retail clothing store has collected numerous customer complaints from the forms they fill out on merchandise returns. To analyze trends or patterns in these returns, she has organized these complaints into a small number of categories. This is most closely related to the ____________ tool of TQM.   

1.a. Taguchi loss function 

2.b. cause and effect diagram 

3.c. scatter diagram 

4.d. histogram 

5.e. process control chart 

7.A manager tells her production employees, "It's no longer good enough that your work fall anywhere within the specification limits. I need your work to be as close to the target value as possible." Her thinking is reflective of   

1.a. internal benchmarking 

2.b. Six Sigma 

3.. ISO 9000

4. d. Taguchi concepts 

5.e. process control charts 

8.A fishbone diagram is also known as a 

1.a. cause-and-effect diagram 

2.b. poka-yoke diagram 

3.c. Kaizen diagram 

4.d. Kanban diagram 

5.e. Taguchi diagram 

9.If a sample of parts is measured and the mean of the measurements is outside the control limits, the process is 

1.a. in control, but not capable of producing within the established control limits 

2.b. out of control and the process should be investigated for assignable variation 

3.c. within the established control limits with only natural causes of variation 

4.d. monitored closely to see if the next sample mean will also fall outside the control limits 

5.e. none of the above 

10.A quality circle holds a brainstorming session and attempts to identify the factors responsible for flaws in a product. Which tool do you suggest they use to organize their findings? 

1.a. Ishikawa diagram 

2.b. Pareto chart

3. c. process chart

4. d. control charts 

5.e. activity chart 

11. When a sample measurement falls inside the control limits, it means that 

1.a. each unit manufactured is good enough to sell 

2.b. the process limits cannot be determined statistically 

3.c. the process output exceeds the requirements 

4.d. if there is no other pattern in the samples, the process is in control 

5.e. the process output does not fulfill the requirements 

12. Which of the following is false regarding control charts? 

1.a. Values above the upper control limits always imply that the product’s quality is exceeding expectations. 

2.b. Control charts are built so that new data can be quickly compared to past performance data. 

3.c. Control charts graphically present data. 

4.d.Control charts plot data over time. 

5.e.None of the above is false. 

13. The goal of inspection is to 

1.a. detect a bad process immediately 

2.b.add value to a product or service 

3.c.correct deficiencies in products 

4.d.correct system deficiencies 

5.e.all of the above 

14. Which of the following is not a typical inspection point? 

1.a. upon receipt of goods from your supplier 

2.b.during the production process 

3.c.before the product is shipped to the customer 

4.d.at the supplier's plant while the supplier is producing 

5.e. after a costly process 

15. A good description of "source inspection" is inspecting 

1.a.materials upon delivery by the supplier 

2.b.the goods at the production facility before they reach the customer 

3.c.the goods as soon as a problem occurs 

4.d.goods at the supplier's plant 

5.e.one's own work, as well as the work done at the previous work station 

16. "Poka-yoke" is the Japanese term for

1. a. card 

2.b.foolproof 

3.c.continuous improvement 

4.d.fishbone diagram 

5.e.just-in-time production 

17.What refers to training and empowering frontline workers to solve a problem immediately? 

1.a. just-in-time 

2.b. poka-yoke 

3.c. benchmarking 

4.d.kaizen 

5.e. service recovery 

18.A recent consumer survey conducted for a car dealership indicates that, when buying a car, customers are primarily concerned with the salesperson's ability to explain the car's features, the salesperson's friendliness, and the dealer's honesty. The dealership should be especially concerned with which determinants of service quality? 

1.a.communication, courtesy, and credibility 

2.b.competence, courtesy, and security 

3.c.competence, responsiveness, and reliability 

4.d.communication, responsiveness, and reliability 

5.e.understanding/knowing customer, responsiveness, and reliability 

19.Marketing issues such as advertising, image, and promotion are important to quality because 

1.a.they define for consumers the tangible elements of a service 

2.b.the intangible attributes of a product (including any accompanying service) may not be defined by the consumer 

3.c.they educate consumers on how to use the product 

4.d.they make the product seem more valuable than it really is 

5.e.they raise expenses and therefore decrease profitability 

20.Which of the determinants of service quality involves having the customer's best interests at heart? 

1.a. access

2.b.courtesy 

3.c.credibility 

4.d.responsiveness 

5.e.tangibles 

21.Which of the determinants of service quality involves performing the service right the first time? 

1.a. access

2.b.courtesy 

3.c.credibility 

4.d.reliability 

1.e.responsiveness

Basic Finance, Finance

  • Category:- Basic Finance
  • Reference No.:- M91056587
  • Price:- $21

Priced at Now at $21, Verified Solution

Have any Question?


Related Questions in Basic Finance

Question utilizing the concepts learned throughout the

Question: Utilizing the concepts learned throughout the course, write a Final Paper on one of the following scenarios: • Option One: You are a consultant with 10 years experience in the health care insurance industry. A ...

Discussion your initial discussion thread is due on day 3

Discussion: Your initial discussion thread is due on Day 3 (Thursday) and you have until Day 7 (Monday) to respond to your classmates. Your grade will reflect both the quality of your initial post and the depth of your r ...

Question financial ratios analysis and comparison

Question: Financial Ratios Analysis and Comparison Paper Prior to completing this assignment, review Chapter 10 and 12 in your course text. You are a mid-level manager in a health care organization and you have been aske ...

Grant technologies needs 300000 to pay its supplier grants

Grant Technologies needs $300,000 to pay its supplier. Grant's bank is offering a 210-day simple interest loan with a quoted interest rate of 11 percent and a 20 percent compensating balance requirement. Assuming there a ...

Franks is looking at a new sausage system with an installed

Franks is looking at a new sausage system with an installed cost of $375,000. This cost will be depreciated straight-line to zero over the project's five-year life, at the end of which the sausage system can be scrapped ...

Market-value ratios garret industries has a priceearnings

(?Market-value ratios?) Garret Industries has a? price/earnings ratio of 19.46X a. If? Garret's earnings per share is ?$1.65?, what is the price per share of? Garret's stock? b. Using the price per share you found in par ...

You are planning to make annual deposits of 4440 into a

You are planning to make annual deposits of $4,440 into a retirement account that pays 9 percent interest compounded monthly. How large will your account balance be in 32 years?  (Do not round intermediate calculations a ...

One year ago you bought a put option on 125000 euros with

One year ago, you bought a put option on 125,000 euros with an expiration date of one year. You paid a premium on the put option of $.05 per unit. The exercise price was $1.36. Assume that one year ago, the spot rate of ...

Common stock versus warrant investment tom baldwin can

Common stock versus warrant investment Tom Baldwin can invest $6,300 in the common stock or the warrants of Lexington Life Insurance. The common stock is currently selling for $30 per share. Its warrants, which provide f ...

Call optionnbspcarol krebs is considering buying 100 shares

Call option  Carol Krebs is considering buying 100 shares of Sooner Products, Inc., at $62 per share. Because she has read that the firm will probably soon receive certain large orders from abroad, she expects the price ...

  • 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