mt_1_f07_604_soln

mt_1_f07_604_soln - Name (print, please) _ ID _ Production...

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Name (print, please) _______________________________________________ ID ___________________________ Production Management 73-604 Fall 2007 Odette School of Business University of Windsor Midterm Exam 1 Solution Thursday, October 11, 5:30 pm – 6:50 pm Instructor : Mohammed Fazle Baki Aids Permitted : Calculator, straightedge, and a one-sided formula sheet. Time available : 1 hour 20 minutes Instructions: This exam has 12 ages including this cover page. Please be sure to put your name and student ID number on each page. Show your work. Grading: Question Marks: 1 /10 2 /7 3 /8 4 /10 5 /15 6 /15 Total: /65
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Name:_________________________________________________ ID:_________________________ Question 1: (10 points) Multiple choice questions: circle the most appropriate answer 1.1 In working to a solution to a Decision Tree problem, we start at the ________ of the tree and calculate ________. a. start, forward b. start, backwards c. end, forward d. end, backwards 1.2 Chance nodes in a Decision Tree is a. rectangular b. square c. circular d. triangular 1.3 (i) Capacity can be defined as the ability to hold, receive, store, or accommodate. (ii) The capacity utilization rate is found by dividing Best Operating Level by Capacity used. a. (i) true, (ii) false b. (i) false, (ii) true c. Both true d. Both false 1.4 If the payoff of selecting Machine A is $46,000 with a probability of 90% and the payoff of selecting Machine B is $80,000 with a probability of 50%, which machine would you select if maximizing payoff is your objective? a. Machine A b. Machine B c. Both d. None 1.5 We should match ________ products with a ________ supply-chain. a. functional, responsive b. functional, efficient c. innovative, effective d. innovative, efficient 1.6 Demand for products or services can be broken down into which of the following components of demand? a. Random variation b. Autocorrelation c. A trend d. All of the above 1.7 (i) RSFE stands for Readable Safety Function for Error detection. (ii) MAD statistics can be used to generate Tracking Signals. a. (i) true, (ii) false b. (i) false, (ii) true c. Both true d. Both false 2
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Name:_________________________________________________ ID:_________________________ 1.8 Maintaining a stable workforce working at a constant output rate while shortages and surpluses are absorbed by fluctuating inventory levels, order backlogs and allowing lost sales is which of the following Production Planning Strategies? a.
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mt_1_f07_604_soln - Name (print, please) _ ID _ Production...

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