Which of the Following Is a Common Consequence of Implementing

question 129

Multiple Choice

Which of the following is a common consequence of implementing JIT in an MRP II/CIM environment?

• A) Increase in setup costs
• B) Reduction in the size of each production lot
• C) Longer lead time needed to schedule production
• D) Increase in buffer stocks of raw materials

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Definitions:

Judgment Sampling

A sampling method where the samples are selected based on the opinion of an expert, rather than random selection.

Central Limit Theorem

A statistical theory stating that, given a sufficiently large sample size from a population with a finite level of variance, the mean of all samples from the same population will be approximately equal to the mean of the population.

Consistent Estimator

An estimator that, as the sample size increases, converges in probability to the true parameter value.

Population Mean

The average value of all the members of a population.