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Operations Management (MGMT 3060 ) Midterm 1 cheet sheet

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Sandra Watson
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California State University Los Angeles

Operations Management (MGMT 3060 )

which of these statements accurately captures a current trend in​ operations?

*Which of the following statements is NOT true regarding
forecasting? Forecasting is exclusively an objective prediction. *A
forecast that addresses the business cycle by predicting planning
indicators is an economic forecast. *Why is Disney a major
economic force in Central Florida? Disney is the largest employer
in the region. *Why is forecasting important to Disney? It projects
attendance each day. It helps set the parks’ open/close hours. It
helps determine how many workers should be scheduled. * The
FASTPASS systemhelps minimize wait times in queues. *Every
business needs to forecast the future because forecasts help plan
for labor, material, and budget needs. *Which of the following is
NOT a timeseries model? multiple regression *When using
exponential smoothing, the smoothing constant can be
determined using MAD *The creation of goods and services is
referred to as: production *Which of the following is NOT
considered to be one of the three primary functions that all
organizations perform? research and development *Which of the
following activities at an airline is NOT an operations activity?
salesCompetition in the 21st century is no longer between
companies; it is between supply chains. *Which of these is NOT
one of the 10 strategic OM decisions? Marketing *Which of the
following OM decisions determines how a good or service is
produced and commits management to specific technology,
quality, human resources, and capital investment? process and
capacity design *The economic activities that typically produce an
intangible product are referred to as services *Which of the
following is NOT a characteristic of services? standardized product
*Productivity increases when inputs decrease while outputs
remain the same. *Which of these statements accurately captures
a current trend in operations? Rapid product development.

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Operations Management (MGMT 3060 ) Midterm 1 cheet sheet

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