DEVRY BSOP 209 Week 8 Final Exam

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• DEVRY BSOP 209 Week 8 Final Exam
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• 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)
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• 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)
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• 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 firms 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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