Operations Management multiple choice questions and answers

Q26. OCF is equal to profit after taxes, interest & dividend payments plus depreciation.
a. True
b. False

Answer: (a)

Q27. A probability distribution is a mathematical model that relates the value of the variable with the probability of occurrence of that value in the population.
a. True
b. False

Answer: (a)

Q28. The Histogram is used to describe ___.
a. Sample data
b. Reference data
c. Relative data
d. None of the above

Answer: (a)

Q29. A ___ is a collection of measurable selected data from some larger source or population.
a. Code
b. Sample
c. Data
d. All of the above

Answer: (b)

Q30. The forecasting process consists of 6-Steps.
a. True
b. False

Answer: (a)

Q31. A frequency distribution is an arrangement of the data by ___.
a. Density
b. Volume
c. Magnitude
d. None of the above

Answer: (c)

Q32. TPM stands for ___.
a. Total productive Maintenance
b. Team Productive maintenance
c. Team Periodic maintenance
d. Team productive mgmt.

Answer: (a)

Q33. Juran uses the famous Universal Breakthrough sequence to implement ___ programs.
a. Testing
b. Design
c. Quality
d. Mgmt.

Answer: (c)

Q34. Appraisal costs mean cost of
a. Inspection
b. Maintenance of records
c. Certification and segregation cost
d. All of the above

Answer: (d)

Q35. In a ___ technique, more recent values are given more weight as compared to earlier values while computing a forecast.
a. Weighted Average
b. Moving Average
c. Exponential Smoothing
d. all of the above

Answer: (a)

Q36. Next Period Forecast = Previous period forecast + Σ(Actual -Forecast) for the previous period. This formula is relatively easy to understand and use in the calculation of ___.
a. Weighted Average
b. Moving Average
c. Exponential Smoothing
d. All of the above

Answer: (c)

Q37. A Naive forecast uses a single value of a ___ series as the basis of a forecast.
a. Data
b. Time
c. Average
d. None of the above

Answer: (b)

Q38. The trend doesn’t mean a long-term upward or downward movement of data.
a. Correct Statement
b. Incorrect Statement

Answer: (b)

Q39. The ___ represents a visual display of the data in which one may more easily see three properties Shape, Location, & ___.
a. Histogram, Scatter
b. Frequency, Scatter
c. None of the above
d. a & b above

Answer: (a)

Q40. The accuracy of forecasting will be limited by the quality and quantity of data that a firm can mobilize for forecasting purposes.
a. True
b. False

Answer: (b)

Q41. Pure products and pure services are two ___ of a ___ as far as operations management is concerned.
a. Spectrum, Ends
b. Pure product & pure services
c. None of the above.
d. all of the above

Answer: (a)

Q42. Operations ___ & ___ should fulfill the needs of the business & should add competitive advantages to the firm.
a. Strategies & decisions.
b. Decision & Strategies.
c. None of the above.
d. a & b both

Answer: (a)

Q43. ___ & ___ with their very large population have emerged as the biggest markets for the future.
a. China & India.
b. India & China.
c. None of the above.

Answer: (a)

Q44. Many companies today are no more satisfied with delivering ‘acceptable quality but strive for ___ & ___
a. Perfect product & service quality
b. Perfect & service
c. None of the above

Answer: (a)

Q45. Quality can be introduced either through ___ design through superior___.
a. Product, Process.
b. Good & strategy
c. None of the above

Answer: (a)

Q46. ___ is a measure of performance of a company in terms of how effectively & ___ it is using its resources.
a. Productivity, Efficiently
b. Utilization & Productivity
c. None of the above.

Answer: (a)

Q47. Productivity can be simply defined as the ratio of ___ to ___.
a. Outputs, Inputs
b. Internal, external
c. Input, output

Answer: (a)

Q48. Mission distinctive competencies___ & ___ form the heart of operation strategy.
a. Policies & Objectives
b. Objectives, policies
c. None of the above

Answer: (b)

Q49. ___ of an investment represents the ___ on investment.
a. Opportunity cost, Return
b. Ownership cost, Return
c. None of the above

Answer: (a)

Q50. ___ period analysis has been used when new assets have been purchased with a large ___amount.
a. Payback & Capital
b. Pay return & capital
c. None of the above

Answer: (a)

Conclusion

Operations Management is an important area of business and these questions and answers have provided a good overview of the key concepts in this field.

It is important to understand the principles of operations management, from forecasting demand to managing resources, as it has a significant impact on the success of any business operation.

This article has provided readers with a better understanding of how operation management works, as well as potential questions that may help further their knowledge.

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