When a data set is unimodal, a median split of the data is inappropriate. (True or false?)

Answer to #1

T

Answer to #2

a

Answer to #3

The order management system represents the principal means by which buyers and sellers communicate information relating to individual orders of product. Effective order management is a key to operational efficiency and customer satisfaction. To the extent that an organization conducts all activities relating to order management in a timely, accurate, and thorough manner, it follows that other areas of company activity can be similarly coordinated. In addition, both present and potential customers will take a positive view of consistent and predictable order cycle length and acceptable response times. By starting the process with an understanding of customer needs, organizations can design order management systems that will be viewed as superior to competitor firms.

Answer to #4

b

Answer to #5

F
A median split means that respondents below the observed median go into one category and respondents above the median go into another.

Answer to #6

c

Answer to #7

Traditional cost accounting is well suited to situations where an output and an allocation process are highly correlated. On the other hand, traditional cost accounting is not very effective in situations where the output is not correlated with the allocations base. This is the more likely scenario in logistics. This is where we can see the effectiveness of activity-based costing (ABC), which can be defined as, A methodology that measures the cost and performance of activities, resources, and cost objects. Resources are assigned to activities, then activities are assigned to cost objects based on their use. ABC recognizes the causal relationships of cost drivers to activities.. ABC assigns resources to an activity (for example, labor cost for picking product), identifies the cost drivers (for example, labor cost for picking a pallet versus picking an inner-pack), and then allocates those costs to products, customers, markets, or business units. ABC more accurately reflects the actual cost of performing an activity than does traditional cost accounting.

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