The Maker of the World-Famous Chocolate Chip Cookies Needs to Design

question 112

Multiple Choice

The maker of the world-famous Chocolate Chip Cookies needs to design a product layout for a new product, Mint Chocolate Chip. The company plans to use this new production line eight hours a day in order to meet projected demand of 1,440 cases per day. The following table describes the tasks involved in the production of a Mint Chocolate Chip Cookie. $$\begin{array} { l l l } \text { Task } & \text { Time } ( \text { secs } ) & \text { Immediate Predecessor } \\\hline \mathrm { u } & 4 & \text { none } \\\mathrm { v } & 14 & \mathrm { u } \\\mathrm { w } & 12 & \mathrm {~V} \\\mathrm { x } & 12 & \mathrm {~V} \\\mathrm { y } & 6 & \mathrm { w } \\\mathrm { z } & 8 & \mathrm { x } , \mathrm { y }\end{array}$$ Without considering projected demands, what is the minimum possible cycle time for this production line?

• A) 54 seconds
• B) 14 seconds
• C) 12 seconds
• D) 10 seconds
• E) 4 seconds

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Definitions:

Stock Market

A marketplace where securities such as stocks and bonds are bought and sold.

Elasticity

A measure of how much the quantity demanded or supplied of a good responds to a change in one of its determinants, such as price.

Expected Utility

A theory in economics that quantifies how individuals choose between probabilistic scenarios with different outcomes, based on their predicted utility.

Utility Function

A mathematical representation of how different bundles of goods or services relate to an individual's level of satisfaction.