Which One of the Following Statements on the Concept of Focused

question 19

Multiple Choice

Which one of the following statements on the concept of focused factories is best?

• A) emphasizes economies of scale, rather than diseconomies of scale
• B) prefers larger facilities producing all of the products or services the company offers
• C) reduces the range of demands placed on an operation so management can concentrate on fewer tasks
• D) emphasizes flexibility rather than cost

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Definitions:

EMV

stands for Expected Monetary Value, a concept in decision theory used to calculate the average outcome when the future includes scenarios that may or may not happen.

Fair Weather

Conditions characterized by clear skies and little to no precipitation, indicating good atmospheric conditions.

Foul Weather

Adverse weather conditions such as rain, snow, sleet, or high winds that can impact activities, safety, and operations.

EVPI

The Expected Value of Perfect Information, reflecting the maximum amount a decision-maker would be willing to pay for information that would result in a perfect decision.