MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question 1) The analysis tool that helps determine what products to develop, and by what strategy, by listing products in descending order of their individual dollar contribution to the firm is B) product life cycle analysis C) decision tree analysis Oproduct-by-value analysis 2) Quality function deployment (QFD) A) determines what will satisfy the customer B) is used early in the design process C) translates customer desires into the target design all of the above 3 ) A graphic technique for defining the relationship between customer desires and product/service is the AHouse of Quality B) moment of truth C) Product Lifecycle Management D) assembly drawine 4) One result of concurrent engineering in product design is A) lower quality B) speedier product development C) higher costs D) all of the above 5) In which stage of the product life cycle should the product strategy focus on cost control? A) maturity B) introduction C) incubation D) growth 6) When should product strategy focus on forecasting for increasing capacity requirements? A) at the decline stage of the product life cycle B) at the maturity stage of the product life cycle C) at the growth stage of the product life cycle D) none of the above 7) Which of the following is true concerning CAD? A) Accurate information flows to other departments B) Design options are easier to review before final commitments are made. C) Virtually all products have their development cycle shortened. D) All of the above are true. 8) The dimensions, tolerances, materials, and finishes of a component are typically shown on a(n) A) bill of material B) route sheet C) engineering drawing D) assembly chart 9) A restaurant kitchen contains a wall poster that shows, for each sandwich on the menu, a sketch of the ingredient and how they are arranged to make the sandwich. This is an example of a(n) B ) assembly drawing C) route sheet D) bill of materials A) work order 10) A decision tree is a(n) A) behavioral representation of alternatives and states of nature B) tabular representation of alternatives and states of nature C) schematic (i.e., procedural diagram or drawing) representation of alternatives and states of nature D) algebraic representation of alternatives and states of nature 11) Decision trees A) are rarely used because one needs specialized software to graph them B) give more accurate solutions than decision tables C) are especially powerful when a sequence of decisions must be made D) are too complex to be used by decision makers 12) The expected value of perfect information (EVPI ) is the A ) diference between t B) payoff for a decision made under perfect the payoff with perfect information and the expected monetary value C ) payoff under minimum risk D) average expected payoff 13) The decision criterion that would be used by an optimistic Aj minimin criterion B) maximin criterion C) maximax criterion D) expected monetary value criterion decision maker solving a problem under conditions of uncertainty would be the on the table of profit values below would choose Alternative States of nature 14) A decision-maker using the maximin criterion on the table of Alternative B Alternative C Alternative D 30 70 100 60 80 70 140 50 A) A ) c) c D) D 15) A decision maker who uses the maximin criterion when solving a problem under conditions of uncertainty is A) a pessimist 16) A tabular presentation (ie, displayed in a table) that shows the outcome for each decision alternative under the A ) isoquant table 17) Which of the following statements best describes the relationship between quality management and product A) Companies with the highest measures of quality were no more productive than other firms B) an optimist C) an optometrist D ) maximin is not appropriate for uncertainty various possible states of nature is called aln) B) payback period matrix C) payoff table D) decision tree strategy? B) Quality management is important to the low-cost product strategy, but not to the response or differentiation strategies. C) High quality is important to all three strategies, but it is not a critical success factor. D) Managing quality helps build successful product strategies 18) The definition: "Quality is defined by the customer" is A) manufacturing-based B) product-base C ) user-based D) an unrealistic definition 19) Which of the following is not one of the major categories of costs associated with quality? A) appraisal costs C)external failures D) none; all are major costs of quality B)prevention costs 20) What is the EMV for the best decision based on following decision (payoff) table? States of nature Alternatives $1 Probability3 Option 1 Option 2 .7 20,000 30,000 15,000 10,000 C) 18,500 D) 17,500 A) 24,000 B) 20,000 21) Quality can improve profitability by reducing costs. Which of the following is not an aspect of reduced costs by quality improvements? D) All of the these are asp C) lower rework and scrap costs B) increased productivity A ) lower warranty costs MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question 1) The analysis tool that helps determine what products to develop, and by what strategy, by listing products in descending order of their individual dollar contribution to the firm is B) product life cycle analysis C) decision tree analysis Oproduct-by-value analysis 2) Quality function deployment (QFD) A) determines what will satisfy the customer B) is used early in the design process C) translates customer desires into the target design all of the above 3 ) A graphic technique for defining the relationship between customer desires and product/service is the AHouse of Quality B) moment of truth C) Product Lifecycle Management D) assembly drawine 4) One result of concurrent engineering in product design is A) lower quality B) speedier product development C) higher costs D) all of the above 5) In which stage of the product life cycle should the product strategy focus on cost control? A) maturity B) introduction C) incubation D) growth 6) When should product strategy focus on forecasting for increasing capacity requirements? A) at the decline stage of the product life cycle B) at the maturity stage of the product life cycle C) at the growth stage of the product life cycle D) none of the above 7) Which of the following is true concerning CAD? A) Accurate information flows to other departments B) Design options are easier to review before final commitments are made. C) Virtually all products have their development cycle shortened. D) All of the above are true. 8) The dimensions, tolerances, materials, and finishes of a component are typically shown on a(n) A) bill of material B) route sheet C) engineering drawing D) assembly chart 9) A restaurant kitchen contains a wall poster that shows, for each sandwich on the menu, a sketch of the ingredient and how they are arranged to make the sandwich. This is an example of a(n) B ) assembly drawing C) route sheet D) bill of materials A) work order 10) A decision tree is a(n) A) behavioral representation of alternatives and states of nature B) tabular representation of alternatives and states of nature C) schematic (i.e., procedural diagram or drawing) representation of alternatives and states of nature D) algebraic representation of alternatives and states of nature 11) Decision trees A) are rarely used because one needs specialized software to graph them B) give more accurate solutions than decision tables C) are especially powerful when a sequence of decisions must be made D) are too complex to be used by decision makers 12) The expected value of perfect information (EVPI ) is the A ) diference between t B) payoff for a decision made under perfect the payoff with perfect information and the expected monetary value C ) payoff under minimum risk D) average expected payoff 13) The decision criterion that would be used by an optimistic Aj minimin criterion B) maximin criterion C) maximax criterion D) expected monetary value criterion decision maker solving a problem under conditions of uncertainty would be the on the table of profit values below would choose Alternative States of nature 14) A decision-maker using the maximin criterion on the table of Alternative B Alternative C Alternative D 30 70 100 60 80 70 140 50 A) A ) c) c D) D 15) A decision maker who uses the maximin criterion when solving a problem under conditions of uncertainty is A) a pessimist 16) A tabular presentation (ie, displayed in a table) that shows the outcome for each decision alternative under the A ) isoquant table 17) Which of the following statements best describes the relationship between quality management and product A) Companies with the highest measures of quality were no more productive than other firms B) an optimist C) an optometrist D ) maximin is not appropriate for uncertainty various possible states of nature is called aln) B) payback period matrix C) payoff table D) decision tree strategy? B) Quality management is important to the low-cost product strategy, but not to the response or differentiation strategies. C) High quality is important to all three strategies, but it is not a critical success factor. D) Managing quality helps build successful product strategies 18) The definition: "Quality is defined by the customer" is A) manufacturing-based B) product-base C ) user-based D) an unrealistic definition 19) Which of the following is not one of the major categories of costs associated with quality? A) appraisal costs C)external failures D) none; all are major costs of quality B)prevention costs 20) What is the EMV for the best decision based on following decision (payoff) table? States of nature Alternatives $1 Probability3 Option 1 Option 2 .7 20,000 30,000 15,000 10,000 C) 18,500 D) 17,500 A) 24,000 B) 20,000 21) Quality can improve profitability by reducing costs. Which of the following is not an aspect of reduced costs by quality improvements? D) All of the these are asp C) lower rework and scrap costs B) increased productivity A ) lower warranty costs