A supply manager submits requests for additional personnel and equipment, which are approved. However, the organization's training budget is cut, giving less opportunity to train new employees. The supply manager is concerned that this will adversely affect the department's ability to build expertise. Given this situation, which of the following is the MOST effective action for the supply manager to take?

• A.Present justification showing how training supports cost reduction goals
• B.Utilize available training funds early in the year to gain maximum impact
• C.Fill fewer positions than approved and re-direct savings to training
• D.Seek highly-qualified applicants who will require less training

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A supply manager submits a request to fill several new positions, along with a proposal for an increased training budget. The new positions are approved, but training funds are cut rather than expanded for the coming year. The supply manager believes that training will be essential for supply management's ability to support organizational strategy. Given this situation, which of the following actions by the supply manager is MOST likely to be effective?

• A.Fill fewer positions than approved, and use the remaining budget for training
• B.Attempt to fill the new positions with skilled candidates who will not require extensive training
• C.Have the staff complete the training early in the year
• D.Develop examples of how training will help employees focus on organizational objectives

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A firm needs training services within a short time frame. The firm's supply manager issues a request for quotation (RFQ) to training companies, evaluates the offers received, selects the lowest bidder meeting all of the requirements, and prepares a contract. The selected bidder states to the supply manager that because of the scarcity of qualified trainers, the bidder needs to offer incentives, and therefore must raise its quoted rates. In this situation, what should the supply manager do FIRST?

• A.Negotiate with all offerors for reduced rates
• B.Renegotiate with the lowest bidder
• C.Remind the supplier its quoted rates are binding
• D.Revise the specifications and issue a new RFQ

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Which of the following figures does an analyst need to calculate from the income statement in order to calculate free cash flows?

• A.Gross profit
• B.Net revenue
• C.Earnings before interest and taxes
• D.Capital expenditures

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A student is interested in which factors affect the U.S. poverty rate and develops a model using the following independent variables:
The unemployment rate The percent of the adult (over 25) population with at least a bachelor's degree The percent of the population without health insurance
The student collects data from each of the 50 states in the U.S. and Washington D.C. for the year 2012 and runs the regression in Excel. The results of this regression are given below. Based on these results, what does the model predict the poverty rate would be for a state for which the unemployment rate is 6%, 20% of all adults over 25 have at least a bachelor's degree, and 5% of the population does not have health insurance?

(Note that all percent values are given as numbers between 0 and 1.)

• A.1.27%
• B.1.14%
• C.14.14%
• D.26.48%

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