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NEW QUESTION: 1
A musical instrument manufacturing company is considering a new project that will require 1000 kg of wood. They have 700 kgs of wood in stock which was purchased last year for £4 per kg. The wood in stock can be sold back to the supplier for £5 per kg. The wood in stock will have to be replaced if it is used. The current purchase price of wood is £8 per kg.
Using this information, what is the relevant cost of wood for the manufacturers decision on this project?
A. £5,000
B. £11,500
C. £5,600
D. £8,000
Answer: D

NEW QUESTION: 2
Which statement(s) are correct about the Factorial Plot shown here? (Note: There are 3 correct answers).

A. When the cutting speed increased from low to high level, the tool age increases
B. The coefficient of the metal hardness is positively related to the output of tool age
C. These plots prove a statistically significance factor with 95% confidence
D. The coded coefficient is lower for cutting speed than the cutting angle related to the output of tool age
E. These plots are an example of interaction plots
Answer: A,B,D

NEW QUESTION: 3
Focusing on customers, promoting innovation, learning new philosophies, driving out fear, and providing extensive training are all elements of a major change in organizations. These elements are aimed primarily at:
A. Copying leading organizations to better compete with them.
B. Focusing on the total quality of products and services.
C. Managing costs of products and services better, in order to become the low-cost provider.
D. Being efficient and effective at the same time, in order to indirectly affect profits.
Answer: B
Explanation:
TOM is a comprehensive approach to quality. It treats the pursuit of quality as a basic organizational function that is as important as production or marketing. TOM is the continuous pursuit of quality in every aspect of organizational activities through a philosophy of doing it right the first time, employee training and empowerment, promotion of teamwork, improvement of processes, and attention to satisfaction of customers, both internal and external. TOM emphasizes the supplier's relationship with the customer, identifies customer needs, and recognizes that everyone in a process is at some time a customer or supplier of someone else, either inside or outside of the organization.