NOCTI (Unit 2, Misc. Math Topics)

A civil engineer is ordering guardrail to create a triangular barrier around a hazard at a trucking terminal. The two shortest sides of the triangle meet at a right angle, and are 20 feet, and 10 feet long. To the nearest foot, how long is the third side?

Use the path

• 15 Feet

• 22 Feet

• 28 Feet

• 30 Feet

A failed compressor at an ice cream factory will cost $7,500 to replace and will shut down production for 3 hours at $5,000 per hour. What is the total cost of this shutdown?

• $7,500

• $12,500

• $15,000

• $22,500

To validate a new design idea before proceeding with additional expenses in development, _____ should be performed first.

• value engineering

• a market analysis

• a cost analysis

• an evaluation

Calculate the resulting downtime cost if there are $3,000 in lost production, $500 in spare parts, $250 in re-startup costs, $500 in lost energy costs, and $1,000 in depreciation costs.

• $5,250

• $6,000

• $6,250

• $7,000

Which of the following best describes the concept of cost analysis in business management?

• Evaluating the financial performance of a company over a specific time period.

• Assessing the profitability of a project or investment by comparing costs and benefits.

• Analyzing the expenses incurred in the production process to determine cost efficiency.

• Reviewing customer feedback to optimize product pricing and sales strategies.

Cost analysis involves examining all expenses associated with producing goods or services to identify areas where costs can be reduced or managed more effectively. This process helps businesses optimize resource allocation, improve operational efficiency, and maximize profitability.

• True

• False

Market analysis involves examining various factors such as industry dynamics, consumer behavior, competitor strategies, and market trends to understand the market environment. This information helps businesses make strategic decisions regarding product development, pricing, distribution channels, and marketing efforts.

• True

• False

Which of the following statements best defines market analysis in business?

• Analyzing consumer preferences and buying behavior to develop targeted advertising campaigns.

• Assessing the financial performance of competitors to identify potential threats to market share.

• Evaluating industry trends, customer demographics, and competitive landscape to make informed business decisions.

• Conducting surveys and focus groups to gather feedback on product features and pricing strategies.

What is the primary objective of value engineering in the context of project management and product development?

• Maximizing profits by reducing production costs and overhead expenses.

• Enhancing the quality and performance of a product or service through innovation.

• Identifying and eliminating unnecessary features or processes to optimize value.

• Streamlining communication channels to improve collaboration among team members.

Value engineering is a systematic approach aimed at improving the value proposition of a product, process, or project by identifying and eliminating unnecessary costs without sacrificing quality or functionality. By focusing on optimizing value rather than simply reducing costs, organizations can achieve greater efficiency and effectiveness in their operations.

• True

• False