Question

Which of the following was NOT listed as a type of transformation?

Question 1 options:

	Storage
	Re-purposing
	Alteration
	Transportation Processes that use numbers, statistics and mathematical models to plan, monitor and adjust production. Question 2 options: KPIs Qualitative Methods Financial Modeling Quantitative Methods Which of the following is NOT a forecasting technique discussed in your reading? Question 4 options: Weighted Averages Weighted Moving Averages PERT Exponential Smoothing Which of the following statements about simulations is NOT accurate? Question 5 options: They can only consider what they have been programmed to take into account They allow managers to perform risk free "what if" exercises They tend to be simple and inexpensive They tend to be fairly specific

Answer 1

1.A. Storage is not a type of transformation. Re-purposing is about changing the use of a product or service. Alteration is changing the very product or service.

2.D. Quantitative methods uses numbers, statistics and models to plan production. Qualitative production may or may not use numbers. Same is true for KPIs. Financial modelling is partly related to production.

4.C. PERT is a work allocation and sequencing method. It is not a forecasting method.

5.D. Simulation are not very specific. The output needs to be understood and analyzed to get the actual meaning of the result. Simulations provides output based on the program, and it is cheap and risk free.