True/False: (1.16 points each = 35 points total) 1) Statements in sciences must be logically falsifiable...
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True/False: (1.16 points each = 35 points total) 1) Statements in sciences must be logically falsifiable (i.e. refutable) to be scientifically valid. 2) The engineering concept of separating products into product families is called modular design. 3) The conflicting set of goals in operations include producing at low costs, keeping investments low and providing high customer service. 4) Capacity should be stated with a time factor. 5) Little's law involves cycle time, capacity, and utilization levels. 6) To maintain sufficient buffer in an operation we could plan to have additional capacity available. 7) Lean is another term for six sigma process improvement. 8) In an assemble-to-order process, the subassemblies are made to order, while final assembly is made to stock. 9) The normal distribution is the only type of probability distribution used in business. 10) The central tendency (mean) of the process is the only information needed to determine if the process is in a state of control. 11) Six sigma projects are typically managed by workers certified as black belts. 12) If a company spent enough money, it would be able to eliminate all the variation in the system. 13) When we ignore information that does not fit our current beliefs, we are committing the narrative bias. 14) A system that has many elements in the system, but the interrelationships are understood and predictable is known as a complex system. 15) What really differentiates a pull system from a push system is that in a pull system limits the work in progress (WIP) levels. 16) Being vigilant against questionable ideas or claims (e.g., anecdotal statements found in news outlets, online chat sites, blogs, sketchy websites etc.) is a critical thinking attribute. 17) A complex system has distinct properties that arise from relationships that are non-linear with many feedback loops. 18) Mass production is common to make discrete products. 19) A type of service category that has little employee customer contact, limited customization and the employees are not paid well is known as a service factory. 20) The seven tools of quality control are equally applicable to both manufacturing and service industries. 21) Buffers can protect against both special and common cause variation. 22) All humans have a set of cognitive biases that can result in poor decision making. 23) It is widely believed we are now living in the third industrial revolution. 24) Operations should not be considered when creating the company's overall business strategy. 25) Achieving all the 3 key objectives in operations is typically easy to do in most companies. 26) A cognitive bias is an information filter. 27) Projects tend to be one of the easiest operation types to plan, schedule and execute. 28) High leverage in a system could be defines as the ability to fundamentally improve the performance of a system while simultaneously reducing the likelihood of negative unintended consequences. 29) All processes contain a certain amount of variation in their output. 30) The management of the types, size and placement of buffers is typically done once each quarter. True/False: (1.16 points each = 35 points total) 1) Statements in sciences must be logically falsifiable (i.e. refutable) to be scientifically valid. 2) The engineering concept of separating products into product families is called modular design. 3) The conflicting set of goals in operations include producing at low costs, keeping investments low and providing high customer service. 4) Capacity should be stated with a time factor. 5) Little's law involves cycle time, capacity, and utilization levels. 6) To maintain sufficient buffer in an operation we could plan to have additional capacity available. 7) Lean is another term for six sigma process improvement. 8) In an assemble-to-order process, the subassemblies are made to order, while final assembly is made to stock. 9) The normal distribution is the only type of probability distribution used in business. 10) The central tendency (mean) of the process is the only information needed to determine if the process is in a state of control. 11) Six sigma projects are typically managed by workers certified as black belts. 12) If a company spent enough money, it would be able to eliminate all the variation in the system. 13) When we ignore information that does not fit our current beliefs, we are committing the narrative bias. 14) A system that has many elements in the system, but the interrelationships are understood and predictable is known as a complex system. 15) What really differentiates a pull system from a push system is that in a pull system limits the work in progress (WIP) levels. 16) Being vigilant against questionable ideas or claims (e.g., anecdotal statements found in news outlets, online chat sites, blogs, sketchy websites etc.) is a critical thinking attribute. 17) A complex system has distinct properties that arise from relationships that are non-linear with many feedback loops. 18) Mass production is common to make discrete products. 19) A type of service category that has little employee customer contact, limited customization and the employees are not paid well is known as a service factory. 20) The seven tools of quality control are equally applicable to both manufacturing and service industries. 21) Buffers can protect against both special and common cause variation. 22) All humans have a set of cognitive biases that can result in poor decision making. 23) It is widely believed we are now living in the third industrial revolution. 24) Operations should not be considered when creating the company's overall business strategy. 25) Achieving all the 3 key objectives in operations is typically easy to do in most companies. 26) A cognitive bias is an information filter. 27) Projects tend to be one of the easiest operation types to plan, schedule and execute. 28) High leverage in a system could be defines as the ability to fundamentally improve the performance of a system while simultaneously reducing the likelihood of negative unintended consequences. 29) All processes contain a certain amount of variation in their output. 30) The management of the types, size and placement of buffers is typically done once each quarter.
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Financial Accounting and Reporting a Global Perspective
ISBN: 978-1408076866
4th edition
Authors: Michel Lebas, Herve Stolowy, Yuan Ding
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