HMCs stands for?

• A) Highly motorized countries
• B) None of the above
• C) Heavy mechanical complexes
• D) High moderate countries

The relationship between a business firm and its customers is essentially a?

• A) Contractual relationship
• B) None of the above
• C) Permanent relationship
• D) Impermanent relationship

Which one of the following a moral reason of contractual theory of business?

• A) All of the above
• B) Compliance duty
• C) Coerce duty
• D) Misrepresentation duty

About 60% of the average corporation's litigation expenses today occured due to?

• A) Product usage cases
• B) Product liability cases
• C) None of the above
• D) Manufacturing fault cases

Relationship between a business firm and consumer essentially be?

• A) Due care relationship
• B) Contractual relationship
• C) None of the above
• D) Forced relationship

Which of the following is not a benefit of free markets?

• A) Everyone can freely enter and exit the market
• B) There are external costs
• C) There are numerous buyers and sellers
• D) Everyone has full and perfect information

When a contract cannot be bound?

• A) Both parties do not have full information
• B) One party has full information
• C) Both parties have full information
• D) One party does have full information

All of the following are the reasons due to which our probability judgements may go wrong except

• A) We believe in the nonexistent "law of averages."
• B) We generalize based on large sample findings.
• C) We believe that we control purely chance events.
• D) We generalize based on small sample findings.

Manufacturers would have little incentive to ensure product safety if;

• A) None of the given options
• B) Consumers will not be considered responsible
• C) Manufacturers will not have any threat of liability
• D) Manufacturers will have threat of liability

According to critics of market approach, how many characteristics are required to obtain the benefits of free market?

• A) 4
• B) 7
• C) 5
• D) 3

A machine that fills cereal boxes put more cereal than planned in cereal boxes by large fraction. This is because of which of the following variation?

• A) Random cause
• B) Special cause
• C) Common cause
• D) None of the above

What would be the required cycle time for a process that operates 9 hours daily with a desired output of 300 units per day?

• A) 0.03 minutes
• B) 1.8 minutes
• C) 291 minutes
• D) 2700 minutes

___________ is a philosophy of continually seeking ways to improve operations

• A) Robustness
• B) Kaizen
• C) Quality deployment
• D) Poke – yoke

Total Quality Management stresses on all of the following principles except:

• A) Employee involvement
• B) Customer satisfaction
• C) Quality as competitive advantage
• D) Continuous improvement in quality

What would be the output capacity if an assembly line operates for 7 hours per day with a cycle time of 2.0 minutes?

• A) 3.5 units per day
• B) 14 units per day
• C) 0.004 units per day
• D) 210 units per day

G.S.Radford demonstrated the connections between:

• A) High quality, decreased quality and higher cost
• B) High quality, increased quality and lower cost
• C) High quality, increased quality and higher cost
• D) High quality, decreased quality and lower cost

Which of the following is one of the prime determinants of choosing a plan?

• A) Technology
• B) Time
• C) Personnel
• D) Resources

In the “Check” stage, team analyzes the data collected during the ____ stage to find out how closely the results correspond to the specifications of ____ stage.

• A) Plan, Do
• B) Do, Plan
• C) Do, Check
• D) Plan, Check

The technical aspect of Six Sigma includes all of the following Except:

• A) Improving process performance
• B) Reduction in variations
• C) Top management commitment
• D) Use of statistical methods

Which of the following refers to changing the job role of one worker with another?

• A) Job rotation
• B) Job design
• C) Job enrichment
• D) Job enlargement