The average labor cost per unit for the first batch produced by a new process is US $120. The cumulative average labor cost after the second batch is US $72 per product. Using a batch size of 100 and assuming the learning curve continues, the total labor cost of four batches will be:
Answer(s): D
The learning curve reflects the increased rate at which people perform tasks as they gain experience. The time required to perform a given task becomes progressively shorter. Ordinarily, the curve is expressed in a percentage of reduced time to complete a task for each doubling of cumulative production. One common assumption in a learning curve model is that the cumulative average time (and labor cost) per unit is reduced by a certain percentage each time production doubles. Given a US $120 cost per unit for the first 100 units and a US $72 cost per unit when cumulative production doubled to 200 units, the learning curve percentage must be 60% (US $72 + $120). If production is again doubled to 400 units (four batches), the average unit labor cost should be US $43.20 ($72 x 60%). Hence, total labor cost for 400 units is estimated to be US $17,280 (400 units x $43.20).
CORRECT TEXTSimulation, a widely used technique in decision modeling, is a(n):
Answer(s): A
Computer simulation is used when an optimization model cannot be developed, e.g., because the variables exceed the equations describing them. Simulation involves constructing a mathematical/logical model incorporating most of the features of the problem. This model is tested in a variety of hypothetical situations, and the modeled responses can then be measured.
An account executive has just designed a Monte Carlo model to estimate the costs of a particular type of project. Validating the model could include all except:
The Monte Carlo technique is used in a simulation to generate the individual values for a random value. An essential step in the simulation procedure is to validate the mathematical model used. This process involves not only searching for errors but also verifying the assumptions. It also should provide some assurance that the results of the experiment will be realistic. This assurance is often obtained using historical data. If the model gives results equivalent to what actually happened, the model is historically valid. There is still some risk, however, that changes could make the model invalid for the future. The model should not be implemented until this validation process is complete.
Which of the following is not true about simu-lation models that use Monte Carlo processes?
The Monte Carlo simulation is often used in computer modeling to generate the individual values for a random variable. The performance of a quantitative model under uncertainty may be investigated by randomly selecting values for each variable in the model (based on the probability distribution of each variable) and then calculating the value of the solution. Because Monte Carlo processes use the laws of probability to generate values for random variables, simulations using them are probabilistic, not deterministic.
The sales manager for a builder of custom yachts developed the following conditional table for annual production and sales:According to the table, how many yachts should be built?
Answer(s): C
To achieve the maximum expected profit. 30 yachts should be built. For each level of production, multiply the probability of demand by the expected profit. The computation for the maximum is: 0.1 (-US $10) + 0.2($10) + 0.5($30) + 0.2($30) = US $22.
Share your comments for Financial CIA-III exam with other users:
please upload it
hye when will post again the past year question for this h13-311_v3 part since i have to for my test tommorow…thank you very much
on question 22, option b-once per session is also valid.
this website is very helpful
its my first time exam
correct answers are device configuration-enable the automatic installation of webview2 runtime. & policy management- prevent users from submitting feedback.
is this dump still valid? today is 9-july-2023
i need this exam.. please upload these are really helpful
please upload the oracle 1z0-1059-22 dumps
very good questions
nice, first step to exams
is this valid for chfiv9 as well... as i am reker 3rd time...
great exam for people taking 220-1101
this is very helpfull for me
just started preparing for the exam
these are the type of questions i need.
does this actually work? are they the exam questions and answers word for word?
thanks for providing these questions
interesting
these dumps are pretty good.
good questions
dbua is used for upgrading oracle database
i am thrilled to say that i passed my amazon web services mls-c01 exam, thanks to study materials. they were comprehensive and well-structured, making my preparation efficient.
please upload latest ibm ace c1000-056 dumps
if only explanations were provided...
yes .. i need the dump if you can help me
good morning, could you please upload this exam again?
hi please upload sre foundation and practitioner exam questions
the exam is listed as 80 questions with a pass mark of 70%, how is your 50 questions related?
all questions are so important and covers all ccna modules
q 44. ans:- b (goto setup > order settings > select enable optional price books for orders) reference link --> https://resources.docs.salesforce.com/latest/latest/en-us/sfdc/pdf/sfom_impl_b2b_b2b2c.pdf(decide whether you want to enable the optional price books feature. if so, select enable optional price books for orders. you can use orders in salesforce while managing price books in an external platform. if you’re using d2c commerce, you must select enable optional price books for orders.)
"cost of replacing data if it were lost" is also correct.
pls upload the questions