Mt_2_s06_331_soln - Last Name First Name ID Operations Management I 73-331 Summer 2006 Odette School of Business University of Windsor Midterm Exam

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Unformatted text preview: Last Name ______________________ First Name _________________________ ID ___________________________ Operations Management I 73-331 Summer 2006 Odette School of Business University of Windsor Midterm Exam II Solution Thursday, July 27, 10:00 am to 11:20 am Odette Building OB 112 Instructor : Mohammed Fazle Baki Aids Permitted : Calculator, straightedge, and a one-sided formula sheet. Time available : 1 hour 20 min Instructions: • This exam has 12 pages including this cover page and excluding 8 pages of tables • It’s not necessary to return tables and formula sheets • Please be sure to put your name and student ID number on each page • Show your results up to four decimal places • Show your work Grading: Question Marks: 1 /10 2 /13 3 /12 4 /10 5 /10 6 /10 Total: /65 Name:_________________________________________________ ID:_________________________ Question 1: (10 points) Circle the most appropriate answer 1.1 Which of the following is a part of order cost? a. The cost of providing the physical space to store the items b. The cost of maintaining the purchasing department c. The bookkeeping expense associated with the order d. All of the above 1.2 In a rotation cycle policy a. In each cycle there is exactly one setup of each product b. Products are produced in the same sequence in each production cycle c. Lot for each product is large enough to meet the demand occurring during cycle time d. All of the above 1.3 Selling price = $100, purchase price = $70, salvage value = $20, what is the cost of overage? a. 30 b. 50 c. 80 d. 100 1.4 In the context of ( 29 R Q , policy model, what is n ? a. Annual stock out cost b. Annual number of units stock out c. Number of units stock out per cycle d. Number of units stock out in a period 1.5 In the context of a resource-constrained multi-product system, which of the following is true? a. ≥ m b. 1 ≥ m c. 1 ≤ m d. 1 ≤ ≤ m 1.6 The penalty cost, p is derived from a. loss of profit if the customers come back and backorder if they do not b. backorder if the customers come back and loss of profit if they do not c. holding cost if the customers come back and backorder if they do not d. backorder if the customers come back and backorder if they do not 1.7 Which of the following models assumes that the items are obtained from an outside supplier? a. The Economic Production Quantity (EPQ) model b. The Economic Order Quantity (EOQ) model c. The problem of planning production of multiple items in a single facility d. All of the above 2 Name:_________________________________________________ ID:_________________________ 1.8 The EOQ units are reduced by a constant multiplier if a. the resource requirement is a constant multiple of the holding cost b. the space requirement is a constant multiple of the weight...
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This note was uploaded on 02/09/2012 for the course ECON 440 taught by Professor Fenn during the Spring '11 term at American Internation College.

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Mt_2_s06_331_soln - Last Name First Name ID Operations Management I 73-331 Summer 2006 Odette School of Business University of Windsor Midterm Exam

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