Reference no: EM132198685
1. A market researcher designed a survey question asking consumers to rate food quality at a McDonald's restaurant on a 7-point scale where 1 = Very Satisfactory and 7 = Very Unsatisfactory. How would you interpret a mean score of 2.14?
Consumers were somewhat unsatisfied.
Consumers were somewhat satisfied.
There is insufficient information to answer the question.
2. The number of respondents who gave a specific answer to a particular survey question is indicated in
a frequency table
a t-test
none of the above
the mean
the correlation statistic
3. The number of respondents who gave a specific answer to a particular survey question is indicated in
a frequency table
a t-test
none of the above
the mean
the correlation statistic
4. In testing the hypothesis that attitudes about electric cars vary by region, researchers wanted to be 95% certain that their findings on attitudes between Midwesterners and Southwesterners did not result from chance. A mean difference on the attitude scale between a Minnesota sample and a sample of equal size from New Mexico resulted in p = .95. What should the researchers do?
data is insufficient for researchers to make a conclusion
fail to reject the null (accept the null)
reject the null hypothesis
restate the null
5. The Gregory Hospital Group would like to use the economic order quantity (EOQ) model to manage their inventory of needles used in care operations of intensive care patients. However, they are in need of more understanding of the constraints and goals of using this model. Which of the following statements correctly states assumptions and goals of the EOQ model?
Using EOQ assumes that demand and lead-time are held constant through the order cycle
EOQ assumes that each unit that is ordered will be used, and thus, overstocking will not be an issue.
EOQ seeks to compute an order quantity such that total order and holding costs are equal.
Only a & c are correct
All of the above statements are correct
6. Which of the following statements about inventory management is incorrect?
Inventory is defined as the stock of any item or resource used in an organization, and includes raw materials, work-in-process and finished goods.
Cycle counting is a physical inventory-taking technique in which inventory is counted on a frequent basis rather than once or twice a year
The goal of the inventory control system is to ensure that items are always ordered using consistent time intervals.
One of the goals of inventory accuracy is to ensure that electronic recording of inventory is the same as the amount of on-hand inventory
One use of inventory is to maintain independence of operations across the supply chain.