Final PN-16 Strategic Cost Management Quiz 7

1. Which of the following statement is correct?

2. Tableau is a –

3. Delphi Method is used for –

4. Which of the following is not true for forecasting?

5. If the estimate of the Trend Component is 158.2, the estimate of Seasonal Component is 94%, the estimate of the Cyclical Component is 105% and the estimate of the Irregular Component is 98%, then the multiplicative model will produce a forecast of –

6. The actual demand for a period is 100 units. But forecast demand was 90 units. The forecast error is –

7. A linear Trend equation has the form –

8. In Simple Exponential Smoothing forecast, to give higher weightage to recent demand information, the smoothing constant must be close to –

9. Which of the following is not a forecasting technique?

10. In a Time Series forecasting model, the demands for five time periods are 10, 13, 15, 18 and 22. A linear regression fit resulted in the equation y = 6.9 + 2.9t, where y is the forecast for the period t. The sum of the absolute deviations for the five data with respect to their corresponding forecasts (taking t = 1 for the first one) is;

11. Which of the following is not a Casual Forecasting Method?

12. In Exponential Smoothing Method which one of the following is true?

13. For a dual plant Monopolist Firm with respective production costs C1 & C2 in the two plants, the necessary condition of equilibrium is:

14. A price discriminating Monopolist Firm operates in –

15. In the expression D = AC – B² used for describing the sufficient conditions for unconstrained optimization involving two variables (x and t), the meaning of A and C are –

16. MR is:

17. For a Cost Function TC = 3 𝑄²+ 7Q + 12, MC is –

18. The process of finding relative maximum or minimum of a function is known as:

19. Choose the correct answer:

20. Optimization is the method of finding:

21. A diesel engine manufacturing company has an order of 4 large engines. A crew of 16 members took 4000 hours to assemble the first engine. If 80% Learning Curve is used then what will be the labour cost of the fourth engine, assuming average labour rate to be Rs. 180 per hour?

22. When 24 hours is required to produce a condenser of a particular type then the time required to produce the 16th unit with 85% Learning Curve is –

23. How long will it take to produce the fifth unit with 85% learning rate, if the third unit took 13 hours?

24. Bimal and Kamal are the two industrial workers engaged in doing a similar job. They have different learning rates of 80% and 90% respectively. Times taken to complete their first jobs are respectively 12 and 8 hours. If both continue with the same learning rate then after how many units Bimal will be faster than Kamal?

25. Which of the following is not an application of Learning Curve?