ISEN 315 HW 3 ANSWER 3

ISEN 315 HW 3 ANSWER 3 - Last Name _ First Name _ ID _...

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Last Name ______________________ First Name _________________________ ID ___________________________ Operations Management I 73-331 Fall 2004 Odette School of Business University of Windsor Midterm Exam II Solution Thursday, November 25 Section 1: 10:00 am to 11:20 am Last Name A-H: Room OB B04 Last Name I-Z: Room ED 1123 Instructor : Mohammed Fazle Baki Aids Permitted : Calculator, straightedge, and a one-sided formula sheet. Time available : 1 hour 20 min Instructions: This exam has 19 pages including this cover page and 8 pages of tables. Please be sure to put your name and student ID number on each odd numbered page. Show your work. State results up to four decimal places. It’s not necessary to return tables and formula sheet. Grading: Question Marks: 1. /10 2. /13 3. /12 4. /10 5. /10 6. /10 Total: /65
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? Inventory Time Name:_________________________________________________ ID:_________________________ Question 1: (10 points) Circle the most appropriate answer 1. Which of the following is true? a. Forecasting determines how many actual units to produce and Master Production Scheduling determines how many aggregate units to produce b. Master Production Scheduling determines how many aggregate units to produce and Aggregate Production Planning determines how many actual units to produce c. Forecasting determines demand and Master Production Scheduling determines how many aggregate units to produce d. Forecasting determines demand and Master Production Scheduling determines how many actual units to produce 2. Two inventory planning questions are: a. How to count and when to count b. How to order and when to order c. How to store and when to store d. How much to order and when to order 3. Consider the inventory graph of the Economic Production Quantity (EPQ) model shown on right. An appropriate label to replace the question mark is a. Order size b. Maximum inventory c. Average order d. Average inventory 4. Consider the space constraint problem with products A and B. If for a trial space required is more than the space available, optimal a. order size for product A, b. order size for product B, c. order sizes are obtained by increasing d. order sizes are obtained by decreasing 5. In the context of inventory planning “distribution of demand” gives distribution of 2
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Name:_________________________________________________ ID:_________________________ a. demand over various seasons b. demand over various geographic locations c. probability of various demand intervals d. probability of demand over various seasons and geographic locations 6. If order size is more than EOQ, then annual holding cost is a. more than annual ordering cost b. less than annual ordering cost c. the same as the annual ordering cost d. optimal 3
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Name:_________________________________________________ ID:_________________________ 7. In the context of the Economic Production Quantity (EPQ) model, inventory increases a. instantaneously b. gradually c. always d. never
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ISEN 315 HW 3 ANSWER 3 - Last Name _ First Name _ ID _...

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