are157-midterm-key-a

are157-midterm-key-a - ARE 157 Winter 2010 NAME: _ MIDTERM...

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ARE 157 Winter 2010 NAME: ________________________________________ __ MIDTERM Section A consists of 15 multiple choice questions worth 10 points each. Section B consists of5 problems worth 60 points each. Please show your work for full credit. If you can't solve one step of a problem, you can still get credit for the remainder if you use the correct method. Total points possible == 450.
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SECTION A. 10 points each. l. Suppose you are hired to forecast demand for the following products. For which good(s) would it be important to consider the concept of ' 'product life cycle"? a. Bread b. Fresh flowers (C) Digital cameras d. a and b e. a, b, andc 2. Rank the techniques below, based on how much they smooth the data (from smoothest to least smoothed): i. 12-month simple moving average ii. 3-month simple moving average iii single exponential smoothing with alpha:; .6 ~ iv. single exponential smoothing with alpha :: .2 i, iv, ii, iii d. i, ii, iv, . iv, iii, i, ii e. iii, ii, iv, i c. iii, ii, i, iv f. None of the above 3. Which type of manufacturing operation below is most fleXible in the types of outputs it can produce? ~ Repetitive manufacturer ~Jobshop c. Batch manufacturer 4. Which firm below would be most likely to use "layout by process" in designing its operations? a. A manufacturer of computer notebooks ~ A hospital c. Both of the above d. Neither of the above 5. Cheryl used single exponential smoothing to forecast weekly attendance at her theater troupe's performances, with alpha values of 0, .2, .4, .6, .8 and I. She found that the mean squared error was smallest when alpha = .6, and the mean forecast error was smallest when alpha = I. What does this imply about attendance at her theater? ~ There is probably a trend in the data. h. To predict this week's attendance, she should only consider last week's attendance. c. Both a and b. d. Neither a nor b. 6. Damon is considering opening a coffee house in Davis. The location he is considering has a monthly traffic count of 400,000 vehicles and a yield factor of .0 1. The average customer is expected to spend $7 per visit, and the average cost of the merchandise they buy is $4. Carlos will have to renovate and furnish the interior of the facility to suit his needs; these improvements will be financed overtime, with a monthly payment ofSI 000. The landlord is asking $6,OOO/month to lease this location. What does this information suggest?
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are157-midterm-key-a - ARE 157 Winter 2010 NAME: _ MIDTERM...

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