Quiz #2 - LP
1. Briefly describe Linear Programming (or optimization).
Linear Programming is the use of several mathematical techniques to allocate limited
resources to competing demands in a way to optimize (minimize or maximize) a metric.
2. In graphica
Quiz #3 - CPM
1. What does the abbreviation PERT stand for? Give an application.
PERT stands for Program Evaluation and Review Technique. A prototype or pilot unit
fabrication project could use this technique, where the subtasks are being done for the
Quiz #4 - LC
1. Which Learning Curve would reduce production man-hours faster, a 80% or a 95%
Learning Curve? Explain.
The 80% learning curve indicates a faster reduction in production man-hours than a 90%
learning curve. An 80% learning curve implies a 2
Quiz #5 - EA
1. What three types of dollars are used for cost analysis?
The three types of dollar analysis used in cost analysis are; Constant dollar analysis,
Current dollar analysis, and Discounting and present value analysis.
2. Explain the concept of
Homework #2 - LP
1. Page 711 #6
A. The equations expressing the information presented in the problem are;
X being the volume of Fuel A and Y being the volume of Fuel B
a. Cost (minimize) = 1.2X + 0.9Y
b. Fuel needed -> X + Y >= 3000
c. Fuel capacity -> X
Homework #4 - LC
1. Page 142 #5
Using the excel file generated (attached with email), I have the Unit and cumulative improvement factors.
The labor to make three units shows a 90% learning curve.
To calculate labor for a
Homework #3 - CPM
1. Page 101 #6
b. Shown in red, the critical path is A-B-D-E-H
c. 15 weeks
d. Activities with slack are; C with 3 weeks, and F OR
1. What is Operations and Supply Chain Strategy?
Operations and Supply Chain Strategy is to set up board policies and plans to guide the
use of the resources needed by the firm to implement the corporate strategy.
Define Strategic, Tactical and
Q1. Here there is a need to understand the application of variables and attribute control charts
Variable control charts are used when the quality characteristic can be measured and expressed
in numbers. e.g height, weight, volume
Attribute control charts
Marx Manufacturing allocates factory overhead using one cost pool with direct labor hours as
the allocation base. Marx has two production departments, P1 and P2. The new accountant at
Marx estimates that next year, the total factory overhead c
Decision Variables Casual Shoes
Maximum overall production
Maximum casual production
Maximum extra hours
Number of Extra hours
Team Assignment 1 Solutions
Analysis from Mercks point of view
1) Draw (by hand or software) a decision-tree to illustrate the decision-making for Merck
(using the principles discussed in the video lectures.) Make sure to include all nodes and
Specifying an Optimization Problem
The end product from specifying an optimization problem should be a formulation (formulas) that
anyone with knowledge of solver and optimization could read, sit down in front of Excel and implement
without any knowledge
Your submission should consist of only those exhibits that are specifically asked for. Please
ensure that each exhibit is well edited and appropriately formatted.
This assignment is an analysis of house prices in Springfie