Exam_1.docx - Operations Management Exam 1 Spring 2019 Professor Erick Kitenge Your Name Instructions Answer all the 5 questions provided in this exam

Exam_1.docx - Operations Management Exam 1 Spring 2019...

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Operations Management Exam 1 Spring 2019 Professor Erick Kitenge Your Name:____________________________ Instructions: Answer all the 5 questions provided in this exam. Don’t forget to double- check your answers GOOD LUCK Question 4 should be submitted through an excel file. 1)Dr. X is planning on opening a business that will aim at providing financial advice tohouseholds. Would you suggest him the mission, the goals, and the organizationalstrategies for his new business? Moreover, use a Balanced Scorecard to show how hecould transform into actions his customers’ attraction strategies.
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2)What is the Operations function within an organization? How is it related to the otherbasic functions in the organization?
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3)Where does the idea to design products and services come from? Be more explicit in your
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Unformatted text preview: answer. 4) Use the sales information provided in Table 1: a) Predict (forecast) sales from July to December 2015 using the Moving Average (MA2) and the Trend method. b) Assuming that you are given realized (Actual) sales values in Table 2 below, can you tell, based on the Mean Square Error (MSE) and the Mean Absolute Deviations (MAD) dispersion measures which of the two forecasting methods used in part a provide best outcomes. 5) A business organization uses three inputs (Capital, Labor, and materials) in order to produce. a) Find, the value of output and the cost of labor for 2016, given the information provided in Table 3. b) Find the following multifactor productivities:-With Capital and Labor-With Material and Labor...
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