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Review sheet for the final exam MGMT 36033

# Review sheet for the final exam MGMT 36033 - MGMT36033...

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MGMT36033 Introduction to Management Science TOPICS TO REVIEW WHEN PREPARING FOR FINAL EXAM Transportation and transshipment models (Chapter 6) LP formulation of transportation and transshipment problems. Using Solver to find optimal solution to a transportation problem. Simulation models (Chapter 12). Using Excel to develop simulation models (use of =IF statements, =COUNTIF, use of relative and absolute addresses in  formulas, format of the =NORMINV function, etc.).  Review models developed in class and cases collected for grade as well as templates with solutions posted on  PcCommon (e.g. Butler Inventory, risk analysis with PortaCom, Magnus Publishing Case, etc.). Review practice quiz  for Ch. 12. Review format of Excel’s If statement, Countif and Norminv built-in functions. Calculations of intervals of random # used to generate demand based on probability distribution. Forecasting (Chapter 15 – refer to PowerPoint presentations on Forecasting Time Series and Regression Analysis). Smoothing methods of forecasting (forecasting with moving averages and exponential smoothing). o If time series series values were given as 44, 48, 41, 39, 47 and 50 – what would be the 3-period moving  average forecast for period 4 or 5? What would the 4-period moving average forecast for period 5? o Given time series values of 22, 25, 28, 24 and 27 – what would be an exponential smoothing forecast for  period 2? What would be the forecast for period 3 based on alpha = .2 or .7?

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