311Midterm_II Sample Solution

311Midterm_II Sample Solution - Name_ Student ID_ Section_...

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Name______________________________ Student ID______________________________ Section_____________________________ BUAD-311 Operations Management Mid-term Exam II Fall 2007 Open Book, Open Notes, No Lap Tops State all your assumptions clearly Make sure that you have 6 pages (Including the cover page) Good Luck VERSION A 1
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Section A: Multiple Choices [4 pts each] 1. Which of the following is FALSE about forecasting? a) To predict new product sales, we may rely on expert opinions and market research b) Moving average and exponential smoothing can not capture underlying factors other than time c) Applying moving average to sales data in the same month across past years is a way to deal with seasonality d) For data with an increasing trend, moving average with large period generate better forecasts than the one with smaller period e) None of the above d) 2. Which of the following facts contributes the success of revenue management in airline industry? a) Flight capacity is limited and can’t be increased easily b) The market can be segmented c) Flight seats are perishable and can be sold in advanced d) Price can be adjusted to market e) All of above e) 3. Which forecasting method works better with the following data? 20 70 120 170 220 270 320 0 2 4 6 8 10 12 14 Months Actual Sales Data a) Moving average with small period b) Moving average with large period c) Seasonality method d) Exponential smoothing with large alpha e) Exponential smoothing with small alpha c) 2
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4. Which of the following statements is false? a) Anxiety makes waiting time seem longer. b) A customer’s perception of his service encounter is very much influenced by his initial contact with the service facility. c) Announcing (accurate) waiting times to customers generally results in higher customer satisfaction.
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311Midterm_II Sample Solution - Name_ Student ID_ Section_...

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