operationsmanagementi73-331fall2003.docVIP

Operations Management I 73-331 Fall 2003 Odette School of Business University of Windsor Final Exam Solution Monday, December 15, 8:30 – 11:30 a.m. Chrysler Hall North G 133 Instructor: Mohammed Fazle Baki Aids Permitted: Calculator, straightedge, and 3 one-sided formula sheets. Time available: 3 hours Instructions: This exam has 34 pages including this cover page, 1 blank page and 8 pages of Table It’s not necessary to return tables and formula sheets Please be sure to put your name and student ID number on each odd numbered pages Show your results up to four decimal places Show your work Grading: Question Score Question Score 1 /15 2 /10 3 /6 4 /12 5 /4 6 /12 7 /9 8 /8 9 /10 10 /5 11 /9 Total /100 Question 1: (15 points) Circle the most appropriate answer Consider estimating learning curve parameter values using regression on and . What is a best interpretation of intercept, ? The slope is The slope is An estimate of the time required by the first unit is An estimate of the time required by the first unit is Consider the EOQ model with price breaks. The optimal solution is the cheapest realizable EOQ one of the EOQs one of the breakpoints the cheapest realizable EOQ or a cheaper breakpoint Forecasting error is described by weighted moving average mean absolute deviation both none The dynamic capacity addition model assumes all of the following except a constant rate of increase of demand over a finite planning horizon the same capacity addition at an equal interval of time economies of scale continuous compounding Which of the following are advantages of the Exponential Smoothing model? Less computation Less memory requirement Both None Smoothing cost includes cost to advertise and interview candidates severance pay both none Chase strategy attempts to produce a constant amount each period as much as needed both none Annual holding cost and is the same as annual ordering/setup cost at EOQ and EPQ EOQ but