OPMA 3306 Operations Management Midterm Exam
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OPMA 3306 Operations Management Midterm Exam
Question 1
Two managers are debating the consequences of adding something – we’ll call it “Component X” – to their firm’s product-service bundle. Pat says that adding Component X is going to really improve the firm’s business. Francis says that adding Component X is necessary just to keep up with competitors. If Pat is right, that means Component X is a(n) ____________. If Francis is right, that means Component X is a(n)
_______________.
Answers: A. Order-winner; order-qualifier
1. Order-qualifier; order-winner
1. Order-quantifier; order-qualifier
1. Advantage-sustainer; advantage-eroder
1. Advantage-eroder; advantage-sustainer
Question 2
It costs $115 to place an order for inventory item Q54 regardless of the order quantity. Item Q54’s purchase cost is $29.22, and demand for Q54 is 50 units per month. Holding cost (annual) for Q54 is estimated at 15% of the purchase cost. What is the optimum time between orders for Q54?
Answers: A. Not in excess of 2 months
1. In excess of 2 months but not in excess of 3 months
1. In excess of 3 months but not in excess of 4 months
1. In excess of 4 months but not in excess of 5 months
1. In excess of 5 months
Question 3
Actual and forecasted demand for the last six periods was as follows:
Period Demand Forecast
1 60 63
2 58 54
3 64 70
4 56 58
5 66 67
6 62 54
What was MAPE in this scenario?
Answers: A. Not in excess of 1.0%
1. In excess of 1.0% but not in excess of 1.1%
1. In excess of 1.1% but not in excess of 1.2%
1. In excess of 1.2% but not...