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Homework answers / question archive / Florida Institute of Technology BUSINESS FTMT011B QUIZ 2 1)If the best operating level of a piece of equipment is at a rate of 500 units per hour and the actual output during an hour is 400 units, which of the following is the capacity utilization rate? A

Florida Institute of Technology BUSINESS FTMT011B QUIZ 2 1)If the best operating level of a piece of equipment is at a rate of 500 units per hour and the actual output during an hour is 400 units, which of the following is the capacity utilization rate? A

Business

Florida Institute of Technology

BUSINESS FTMT011B

QUIZ 2

1)If the best operating level of a piece of equipment is at a rate of 500 units per hour and the actual output during an hour is 400 units, which of the following is the capacity utilization rate?

A. 1.25

B. 0.80

C. 0.20

D. 1.30

E. None of above

 

  1. Assume a fixed cost for a process of $100,000. The variable cost to produce each unit of product is $40 and the selling price for the finished product is $60. Which of the following is the number of units that has to be produced and sold to break-­?even?
      1. 3,000 units
      2. 4,000 units
      3. 5,000 units
      4. 8,000 units
      5. 12,000 units

 

 

    1. At a decision point in a decision tree, which alternative would you select when trying to maximize payoff given the following payoff information:

 

Alternative

Demand Low (0.3)

Demand Mediate (0.4)

Demand High (0.3)

A

100,000

120,000

140,000

B

80,000

130,000

140,000

C

70,000

120,000

200,000
      1. Machine A
      2. Machine B
      3. Machine C
      4. You would be indifferent between A and C
      5. You would be indifferent between A and B

 

    1. You have just performed a Single Time Estimate CPM analysis and have found that more than one path through the project network has zero slack values. What can you conclude?
      1. You have incorrectly performed the analysis
      2. You have multiple critical paths
      3. Only one path is optimal
      4. More than one path is optimal E. The project will not be completed by the desired time

 

 

    1. A simple project listing of five activities, their predecessors and their respective time estimates are presented below:

 

Activity

Immediate Predecessor

Time In Days

A

None

3

B

A

2

C

A

1

D

B and C

3

E

D

4

Using CPM, what is the Latest Finish Time for the last activity in this project (i.e., the total time to complete the project)?

 

      1. 10 days
      2. 7 days
      3. 8 days
      4. 12 days
      5. 9 days

 

 

    1. If you have an optimistic time of 4 weeks, a most likely time of 6 weeks and a pessimistic time of 8 weeks on an activity in a CPM managed project, what is the expected time for this activity?
      1. 4 weeks
      2. 5 weeks
      3. 6 weeks
      4. 7 weeks
      5. 8 weeks

 

    1. If the pessimistic duration of an activity is 24, the most likely duration is 15 and the optimistic duration is 6, what is the variance for the activity time when using CPM analysis?
      1. 6

B. 8.333

C. 9

D. 10.4

E. 12

 

    1. You have the following time and cost information below for use in a Time-­? Cost CPM Scheduling model.

Activity

Normal Time

Crash time

Normal Cost

Crash cost

A

3

2

$400

$600

B

5

3

$600

$1200

C

4

1

$300

$1500

What are the three costs per unit of time to expedite each activity? A. A = $300, B = $200, C = $300

B. A = $100, B = $200, C = $400

C. A = $200, B = $200, C = $200

D. A = $100, B = $400, C = $300

E. A = $200, B = $300, C = $400

 

    1. You know when you have arrived at the optimal solution in using the Time-­? Cost CPM Scheduling model analysis when what happens?
      1. You have found the critical path
      2. You have run out of crash time
      3. You no longer have a linear relationship with costs
      4. You have reached the minimum total cost
      5. You have run out of crash costs

 

    1. Which of the following is the cost of quality classification for costs such as scrap, rework, or repair?
  2. Appraisal costs
  3. Prevention costs
  4. External failure costs
  5. Internal failure costs
  6. Rework and wastage

 

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