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BSOP 209 Week 8 Final Exam..............(BSOP 209 Operations Analysis - DeVry)

Question # 00023118
Subject: Education
Due on: 08/15/2014
Posted On: 08/15/2014 08:19 AM

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Page One

  1. (TCO 8) What are the three parts of a wait-line system? (Points : 15)
  2. (TCO 9) What is the objective function of LP? (Points : 15)
  3. (TCO 11 & 12) What are two of the steps in a simplex maximization problem? (Points : 15)
  4. (TCO 10) What will happen if the right-hand side of a constraint is changed? (Points : 15)
  5. (TCO 15 & 16) What are three of the basic steps that both PERT and CPM follow? (Points : 15)
  6. (TCO 16) What is a "dummy activity?" (Points : 15)
  7. (TCO 3, 4, & 5) What is the formula for linear regression? Define each part. (Points : 15)
  8. (TCO 1) What are the four qualitative forecasting approaches that are available to us? (Points : 15)
  9. (TCO 6) Describe the "revenue junction." (Points : 15)
  10. (TCO 8) What are the three parts of a typical queuing system? (Points : 15)
  11. (TCO 8) When designing a waiting line system, what "qualitative" concerns need to be considered? (Points : 15)
  12. (TCO 8) What is the expected value with perfect information? (Points : 15)

Page Two

  1. (TCO 1 &2) What is the forecast for Aug based on a weighted moving average applied to the following past demand data and using the weights: 5, 3, 1.5? (largest weight is for most recent data)
  2. (TCO 3, 4, and 5) The XYZ Paint Shop owns and operates a dozen shops in southern Iowa. Their signature paint is black epoxy. Sales (X, in millions of dollars) is related to Profits (Y, in hundreds of thousands of dollars) by the regression equation Y = 6.321 + 0.65X. What is your forecast of profit for a store with sales of $25 million? $65 million? (Points : 30)
  3. (TCO 6 and 7) A product is currently made in a job shop, where fixed costs are $4,500 per year and variable cost is $10 per unit. The firm sells the product for $70 per unit. What is the break-even point for this operation? What is the profit (or loss) on a demand of 220 units per year? (Points : 30)
  4. (TCO 13, 14) XYZ coating company has reviewed four new processes for improving their coating line. The four processes, labeled A, B, C, and D use different technology and have different capacities. All the processes have the same level of production and the lifetime. The four states of nature represent four levels of consumer acceptance of the firm's products. Values in the table are net present value of future profits in millions of dollars. Forecasts indicate that there is a 0.4 probability of acceptance level 1, 0.3 chance of acceptance level 2, 0.6 chance of acceptance level 3, and 0.5 change of acceptance level 4………..Using the criterion of expected monetary value, which production alternative should be chosen? (Points : 30)
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BSOP 209 Week 8 Final Exam..............(BSOP 209 Operations Analysis - DeVry)

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Preview: 2 xxxx 3, xx and 5) xxx XYZ Paint xxxx owns xxx xxxxxxxx a xxxxx shops in xxxxxxxx Iowa Their xxxxxxxxx paint xx xxxxx epoxy xxxxx (X, in xxxxxxxx of dollars) xx related xx xxxxxxx (Y, xx hundreds of xxxxxxxxx of dollars) xx the xxxxxxxxxx xxxxxxxx Y x 321 0 xxx What is xxxx forecast xx xxxxxx for x store with xxxxx of 25 xxxxxxx 65 xxxxxxx xxxxxxx 30) xxxxxxxxxxx Forms HTMLTextArea x 3 (TCO x and xx x product xx currently made xx a job xxxxx where xxxxx xxxxx are xxxxx per year xxx variable cost xx 10 xxx xxxx The xxxx sells the xxxxxxx for 70 xxx unit xxxx xx the xxxxxxxxxx point for xxxx operation What xx the xxxxxx xxx loss) xx a demand xx 220 units xxx year xxxxxxx xxx HTMLCONTROL xxxxx HTMLTextArea 1.....
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