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Industrial Engineering and Production Management

Industrial Engineering and Production Management
Breakeven analysis is a

Average of short and long term analysis
Any one of these
Long term analysis
Short term analysis

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Industrial Engineering and Production Management
The term 'value' in value engineering refers to

Utility of the product
Manufactured cost of the product
Total cost of the product
Selling price of the product

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Industrial Engineering and Production Management
If (R) is the base rate guaranteed per hour, (S) is the standard time for the job and (T) is the actual time, then according to Halsey 50-50 plan, wages for the job will be

TR + (S - T) × R
TR + [(S - T)/2] × R
TR
TR + [(S - T)/S] × R

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Industrial Engineering and Production Management
The interchangeability can be achieved by

Bonus plan
Better process planning
Better product planning
Standardization

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Industrial Engineering and Production Management
The probability distribution of project completion in PERT follows following distribution

Normal
Exponential
Gaussian
Binomial

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Industrial Engineering and Production Management
A PERT network has three activities on critical path with mean time 3, 8 and 6 and standard deviations 1, 2 and 2 respectively. The probability that the project will be completed in 20 days is

0.95
0.84
0.66
0.5

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