GBA 498 Strategic Management CBK Post-Test Answers
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Saint Leo GBA 498 CBK Post-Test Answers
1. What is the formula for the break-even point of a simple profit model?
2. Data for a particular subdivision near downtown Houston indicate that the average price per square foot for a home is $100 with a standard deviation of $5 (normally distributed). What is the probability that the average price per square foot for a home is less than $85?
3. Below is an opportunity loss table. What decision should be made based on the minimax regret criterion?
4. Demand for soccer balls at a new sporting goods store is forecasted using the following regression equation: Y = 98 + 2.2X where X is the number of months that the store has been in existence. Let April be represented by X = 4. April is assumed to have a seasonality index of 1.15. What is the forecast for soccer ball demand for the month of April (rounded to the nearest integer)?
5. Andre Candess manages an office supply store. One product in the store is computer paper. Andre knows that 10,000 boxes will be sold this year at a constant rate throughout the year. There are 250 working days per year and the lead-time is 3 days. The cost of placing an order is $30, while the holding cost is $15 per box per year. If Andre orders 500 boxes each time he orders from his supplier, what would his total annual inventory cost be (holding cost plus ordering cost)?
6. Consider the following linear programming problem: Which of the following points (X,Y) is feasible?
7. Given an activity's optimistic, most likely, and pessimistic time estimates of 4, 14, and 18 days respectively, compute the PERT expected activity time for this activity.
8. A suburban specialty restaurant has developed a single drive-thru window. Customers order, pay, and pick up their food at the same window. Arrivals follow a Poisson distribution while service times follow an exponential distribution. If the average number of arrivals is 6 per hour and the service rate is 2 every 15 minutes, how much time will elapse (in hours) from the time a customer enters the line until he/she leaves the restaurant?
9. Refer to the Table below. To guarantee that cans of soda are properly filled, some cans are sampled and the amounts measured. The overall average for the samples is 12 ounces. Each sample contains 10 cans. The average range is 0.4 ounces. The lower control chart limit for the sample averages would be:
10. Which of the following is not a popular definition of quality?
11. It's About Time, an online vintage clothing store, encourages its customers to create an avatar that can be dressed in clothing typical of the products sold on the site. What part of the marketing mix does the avatar best represent?
12. The primary key to delivering customer satisfaction is to match product performance with ____________.
13. The managers of Alfredo's Pizza, a popular pizzeria in New York City, have been increasingly encouraging senior citizens to visit the pizzeria's numerous outlets spread across the city. Anticipating a rise in the population of senior citizens in the area, the management of Alfredo's Pizza is seeking to tap into this promising segment that consists of retired, affluent consumers. In this instance, the managers of Alfredo's Pizza are anticipating company growth through ____________.
14. A shoe manufacturing company uses ads featuring the members of a country music band with the hope that the band's fans will see them wearing the company's shoes and hence purchase the same brand of shoes. The shoe company believes that the band portrays the image of a __________ to the band's fans.
15. Waldo Stores will reward an all-expenses-paid trip to Hawaii to anyone who correctly guesses the date on which Waldo Stores was first established in the Boston area. Which type of sales promotion is evident here?
16. The simplest pricing method is __________ pricing
17. John assured his venture capitalists of a 25 percent return on equity when he began his IT start-up. In order to achieve this result, he will most likely use which of the following pricing approaches?
18. A marketer wanting to determine business buyer behavior is most likely to ask which of the following questions?
19. Which of the following is a characteristic of customer-driven marketing?
20. The Farmer's Pantry, an all-natural upscale grocery store, tends to cater to a well-educated, upper-middle-class clientele. The stores use streaming video from the farms and fishing boats that supply their products directly to their customers' phones via hash tags. What environmental force is Farmer's Pantry leveraging?
21. Totals of various columns from the work sheet are shown below. What is net income or loss?
22. What is the current acronym for the body most responsible for issuing international accounting standards?
23. Buildings, land, and equipment would be classified as:
24. Which of the following entries would be made to record the purchase of $20,000 of raw materials on account for Jake's Custom Furniture?
25. Which of the following are the three major categories included on the statement of cash flows?
26. The principles called GAAP are established by the:
27. Lincoln Company produces a part that is used in the manufacture of one of its products. The unit manufacturing costs of this part, assuming a production level of 5,000 units, are as follows: Erickson Company has offered to sell 5,000 units of the same part to Lincoln Company for $13 per unit. Assuming the company has no other use for its facilities and that the fixed manufacturing costs are unavoidable, what should Lincoln Company do?
28. In deciding whether to drop its electronics product line, a company's manager would consider which of the following?
Question 80:
The microprocessor's speed is determined by its __________
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