16) Which of the following is NOT related to Services? A) Intangible product B)
ID: 369354 • Letter: 1
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16) Which of the following is NOT related to Services? A) Intangible product B) Product cannot be inventoried C) High customer contact D) Short response time E) Labor intensive 17) Which of these are considered as Competitive Priorities A) Cost B) Quality C) Time D) Flexibility E) All the above 18) To measure productivity, the following formula is applied: A) output·mput B) input+ output C) output-input D) output/input E) input/output 19) Which of the following is considered as ethical and social responsibility challenges? A) Developing safe quality products B) Maintaining a clean environment C) Providing a safe workplaoe D) Honoring community commitments E) All the above 20) Medium range forecast is considered as: A) 3+ Years B)3+ Months C) 3 months to 3 years D) Up to one year E) 3 to 5 years 21) Which of the following is NOT a part of the time series components? A) Trend B) Cyclical C) Seasonal D) Random E) FrequentExplanation / Answer
16. E) Services may not be labor intensive. However it has high customer contact .is Intangible. And also has high touch points with the customer.
17. E) All the mentioned options: Cost, Quality, Time, Flexibility are important components in assessing the priorities.
18. D) Output /Input. Productivity is given by the amount of output that has come out for the Input applied. For example if the Input is 100 and Output is 85, then we say that the productivity is 85%
19. E) All the above are considered ethical and social responsibility challenges.
20. C) 3 months to 3 years is considered as a medium range forecast. Beyond 3 years is normally considered Long term range forecast.
21. D) Random is not a part of the time series component. All the others Trend, Cyclical, Seasonal, and Frequent are the common parlance that you see when using time series components.
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