1. . T. F. Cultural barriers in a company sometimes make the use of statis conti
ID: 372647 • Letter: 1
Question
1. . T. F. Cultural barriers in a company sometimes make the use of statis continued improvement difficult.
2. T. F. The probability of a Type I error is always greater than the probability of a Type II error.
3. T. F. The Baldrige criterion assigned the greatest number of points is Leadership.
4. T. F. The Baldrige criterion that asks firms to explain their methods of performance measurement is the Information and Analysis category.
5. T. F. The power of expertise is derived from the power to punish a follower for not following organizational rules or guidelines.
6. To segment markets means to distinguish customers or market according to random characteristics.
7. T. F. Sole sourcing is a process for developing relationships with many suppliers for long contract terms.
8. T. F. Increasingly, sole sourcing arrangements are developing into strategic partnerships where suppliers become de facto subsidiaries to their major customers.
9. Quality function deployment (QFC) translates customer wants into:
a. cash flow
b. customer satisfaction
c. finished product design
d. high levels of customer service
e. higher profitability
10. Many times firms desire to compare financial measures between companies when benchmarking. One of the most significant problems in pursuing this objective stems from:
a.the unwillingness of the part of some firms to share financial information
b.limitations of accounting systems
c.SEC regulations restricting the sharing of financial information across firms
D. limitations of computer systems
E. geographic barriers that limit the cooperation between firms
11. After a year’s operation, Champion Cooling Co. reports a cost of goods sold of $400,000 and a scrap cost of $50,000. What is their scrap efficiency?
a. $350, 000
b.$8.00
c. 8.0
d. 12
e. 0.125
Explanation / Answer
1. True. Cultural barriers can hamper growth and can make continuous improvement difficult
2. True.
Type 1 error is called false positive i.e rejecting a null hypothesis but when it should have not been rejected. For example if our stats say that a drug helps combat the disease but it is not effective.
Type 2 error is called true negative i.e not rejecting a null hypothesis but when it should have been rejected. For example if our stats say that a drug does not help combat the disease but it is effective.
If we increase our level of significance, type 1 errors can be reduced but then type 2 errors increase.
3. True.Other categories are
4. True. he Baldrige criterion that asks firms to explain their methods of performance measurement is the Information and Analysis category. Exact name of this category is Measurement, analysis, and knowledge management.
5. False.Power of expertise is derived from ability of an individual to influence other on basis of knowledge or skillset
6. False. Segmentation divides markets on basis of fix criterias such as age, region, purchase behavior, Income groups etc
7.False. In sole sourcing, only one supplier can supply to the organization
8. True. Sole sourcing means only one supplier supplying to one organization and that supplier can convert into strategic partnership.
9. QFC translates customer wants into D. high levels of customer service . It transaltesvoice of customer into high level plans for customer service which includes unmet needs of customer as well.
11. Scrap efficiency is defined as ratio of scrap produced to total output
Scrap efficiency = 50000/400000 = .125 (Option E)
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