illustrative_final_4_solution - Name: (please print)...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Name: (please print) Illustrative Final Exam 1 Solutions BUAD311 – Operations Management 1 hour and 50 minutes All together the exam has a maximum of 85 points. There are 10 pages including this page. This is an open-book, open-notes exam. You may use a simple calculator. No laptops. No PDAs. Sharing books/notes with other students is not allowed. There is a partial credit for each question unless otherwise noted. Show your work completely! If you don’t show your work, you will not receive full credit. Do not be tempted to seek “inspiration” from a neighbor’s exam. Poor scores can be overcome, but cheating will be dealt with harshly! Please sign here to indicate that you have adhered to university policies regarding ethical behavior in preparing for and completing this exam. “I hereby certify that I have adhered to the university policies regarding ethical behavior in preparing for and completing this exam.” 1 This is the actual final exam from Fall 2009
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Section A: Multiple Choices [20 points; 2points per part; no partial credit] 1. Uncertainty and variability are major concerns for operations managers. Which of the following statements is false ? a. Whenever we see uncertainty, we want to evaluate the possibility of risk pooling. b. Higher uncertainty and variability result in longer waiting lines. c. If demand uncertainty increases, we need to raise the order quantity Q for a continuous review (ROP, Q) inventory system. d. If demand uncertainty increases, West Coast University Hospital needs more capacity. c 2. Forecast is always wrong. Which of the following statements is false ? a. It is important to design a process with shorter throughput time so that we only need to do short-term forecasts. b. It is important to investigate the possibility of postponing the product differentiation so that we only need to do aggregate forecasts. c. It is important to build a good information system so that we can develop error measures for the forecasts. d. It is important to stop using simple exponential smoothing technique and to start using more sophisticated techniques such as double exponential smoothing. d 3. Zara is very different from its competitors. Which of the following statement is false ? a. Upstream vertical integration is rare in the apparel industry. b. Zara has higher advertisement costs. c. Zara has higher production costs. d. Zara has shorter product cycles. b 4. Consider a flight that has 250 seats. There are two fare classes: a discount fare of D dollars and a full fare of F dollars (F>D>0). The full-fare demand will come only after the discount class is closed. Suppose the demand for full-fare tickets is equally likely to be anywhere between L and U (U>L>0). Which of the following statements is(are) true? I.
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 10

illustrative_final_4_solution - Name: (please print)...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online