TQM & ISO both focus on

Select one:

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a. Supplier

b. Customer

c. Employee

d. All of the above

(2) A fabrication company wants to increase capacity by adding a new machine. The firm is considering proposals from vendor A and vendor B. The fixed costs for machine A are $90,000 and for machine B, $75,000. The variable cost for A is $15.00 per unit and for B, $18.00. The revenue generated by the units processed on these machines is $21 per unit. If the estimated output is 5000 units, which machine should be purchased?


What is the expected value of the best course of action depicted by this decision tree?

(4) The previous period’s forecast was for 100 units, and the actual demand in the previous period was for 110 units. Exponential smoothing, with alpha equal to .4, is used to forecast demand. What will the forecast for the next period be?

(5) Two attributes of goods are:

Select one:

a. Inventoried and resold

b. Resold and non-inventory

c. Automatic attributes and resold

d. site location and non-transportable

e. Site location and non-cash

(6) Using the data below, find the multi-factor productivity for the combined input of labor and machine time.
Output: $10,000
Labor $2000
Material: $720
Overhead: $3000


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