Mean absolute deviation (MAD), mean square error (MSE), and mean absolute
percentage error (MAPE) forecast error metrics generally giving similar numerical
results so it does not matter which one is used.
Answer:
The center-of-gravity model minimizes the weighted distance between the facility to be
located and its supply and demand points.
Answer:
What is safety capacity? Discuss reasons for using it.
Answer:
Exponential smoothing models never forget past data as long as the smoothing constant
is strictly between 0 and 1. In contrast, moving average methods completely forget all
data older than k periods in the past.
Answer:
Two examples of process-focused performance measures for sequencing rules are
tardiness and lateness.
Answer:
In designing a service-delivery system, a good job and process design can usually
overcome a poor location.
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Compare and contrast the advantages and disadvantages of the shortest processing time
(SPT) and the earliest due date (EDD) sequencing rules.
Answer:
Project managers need to be specialists, not generalists.
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Given the following table, calculate the expected value of perfect information.
Answer:
A car rental company at a major airport has 70% of its fleet of 200 cars rented each day
on average. Cars are rented for an average of 4 days. How many rentals are processed
each day on average?
a. Less than 50 cars per day
b. More than 50 but less than or equal to 100 cars per day
c. More than 100 but less than or equal to 150 cars per day
d. More than 150 but less than or equal to 200 cars per day
Answer:
What is the system reliability if components A and B were redundant parts providing
the same function in parallel with a reliability of 82, and components C and D were also
redundant parts with reliability of 0.95?
Answer:
Answer:
Explain the concept of expected value of perfect information (EVPI). How does it help
a decision maker?
Answer:
The Department of Motor Vehicle (DMV) testing center currently has six (6) testers
who test 68 drivers per day. Each tester can test twelve (12) drivers per day. Testers are
complaining about being too busy and the center being understaffed. In order to achieve
an average of 80% utilization of the testers, how many testers should be added at the
center?
a. One
b. Two
c. Three
d. Four
Answer:
What characterizes a linear function?
Answer:
Level 3 planning, i.e. detailed planning and execution, represents aggregate planning at
higher management levels of an organization.
Answer:
A simulator is a general-purpose simulation model.
Answer: