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BUSI 411 Exam 4 (Version 3), Verified And Correct Answers, Liberty Univ
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BUSI 411 Exam 4 (Version 3), Verified And Correct Answers, Liberty Univ
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BUSI 411 Exam 4 Question 1
3 out of 3 points
Which item would be least likely to be ordered under a fixed-order-interval system?
Selected Answer: auto parts at an assembly plant
Response correct
Feedback:
MC Qu. 105 Which item would be least likely to be ordered...
AACSB: Reflective Thinking
Accessibility: Keyboard Navigation
Blooms: Understand
Difficulty: 2 Medium
Learning Objective: 13-12 Describe situations in which the fixed-order-interval model is
appropriate, and solve typical problems.
Topic: How Much to Order: Fixed-Order-Interval Model
Question 2
3 out of 3 points
Even though it is often the case that no cash outflows result when demand exceeds capacity, __________ can
nevertheless be experienced in those circumstances.
Selected Answer: shortage costs
Response correct
Feedback:
MC Qu. 55 Even though it is often the case that no cash...
AACSB: Reflective Thinking
Accessibility: Keyboard Navigation
Blooms: Understand
Difficulty: 2 Medium
Learning Objective: 13-06 Describe the costs that are relevant for inventory
management.
Topic: Requirements for Effective Inventory Management
Question 3
, 0 out of 3 points
The Operations Manager for Shadyside Savings & Loan orders cash from her home office for her very
popular "BIG BUCKS" automated teller machine, which only dispenses $100 bills. She estimates that this
machine dispenses an average of 12,500 bills per month, and that carrying a bill in inventory costs 10 percent
of its value annually. She knows that each order for these bills costs $300 for clerical and armored car
delivery costs, and that order lead time is six days. Assuming a 30-day month, if she were to order 6,000 bills
at a time, what would be the length of an order cycle?
Selected Answer: 2.08 days
Response incorrect
Feedback:
MC Qu. 120 The Operations Manager for Shadyside Savings...
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Apply
Difficulty: 2 Medium
Learning Objective: 13-08 Describe the basic EOQ model and its assumptions and solve
typical problems.
Topic: How Much to Order: Economic Order Quantity Models
Question 4
3 out of 3 points
If average demand for an item is 20 units per day, safety stock is 50 units, and lead time is four days, the
ROP will be:
Selected Answer: 130.
Response Feedback: correct
MC Qu. 102 If average demand for an item is...
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Apply
Difficulty: 2 Medium
Learning Objective: 13-11 Describe reorder point models and solve typical problems.
Topic: Reorder Point Ordering
Question 5
3 out of 3 points
Which one of the following is implied by an annual service level of 95 percent?
Selected Approximately 95 percent of all demand will actually be satisfied directly from on-hand
Answer: inventory.
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