Bus 660 t Study guides, Class notes & Summaries

Problem 8-25(Algorithmic) GeorgiaCabinetsmanufactureskitchencabinetsthataresoldtolocaldealersthroughouttheSoutheast.Becauseofalargebacklogofordersfor oakand cherrycabinets,the company decidedto contract with threesmaller cabinetmakersto do the final finishing operation. For thethree cabinetmakers, the number of hours required to complete all the oak cabinets, the number of hours required to complete all the cherrycabinets,thenumberofhoursavailableforthefinalfinishingoperation,andthecostperhour...

BUS 660 Topic 4 Midterm Exam Questions and Answers Latest 2024/2025 / Graded A+.

Problem 6-09: With the gasoline time series data from the given table, show the exponential smoothing forecasts using a = 0.1. a. Applying the MSE measure of forecast accuracy, would you prefer a smoothing constant of a = 0.1 or a = 0.2 for the gasoline sales time series? Do not round your interim computations and round your final answers to three decimal places. b. Are the results the same if you app y MAE as the measure of accuracy? Do not round your interim computations and round your fina...

Problem 10-05: Premier Consulting’s two consultants, Avery and Baker, can be scheduled to work for clients up to a maximum of 160 hours each over the next four weeks. A third consultant, Campbell, has some administrative assignments already planned and is available for clients up to a maximum of 140 hours over the next four weeks. The company has four clients with projects in process. The estimated hourly requirements for each of the clients over the four-week period are as follows: Hourly ra...

1. Question:A posterior probability associated with sample information is of the form 2. Question:When production volume exceeds the breakeven point, we can expected 3. Question:Which of the following exponential smoothing constant values puts the same weight on the most recent time series value as does a 5-period miming average? 4. Question:The decision variables of a model are also known as the 5. Question:An experiment consists of tossing 4 coins successively. The number of sample poi...

1. Question:Acompanymakestwoproductsfromsteel; onerequires 2tonsofsteelandtheotherrequires3tons.Thereare100tonsofsteelavailabledaily.Aconstraintondaily production could bewrittenas:2x1+3x2≤100. 2. Question:Letx1,x2,andx3be0-1variableswhosevaluesindicatewhethertheprojectsarenotdone(0)oraredone(1).Whichanswerbelowindicatesthatatleasttwooftheprojectsmust bedone? 3. Question:The constraintx1 +x2+x3 +x4 ≤2 meansthattwooutofthefirstfourprojectsmust be selected. 4. Question:Eachpointontheefficie...

Problem 16-03:Grear Tire Company has produced a new tire with an estimated mean lifetime mileage of 36,500 miles. Management also believes that the standard deviation is 5000 miles and that tire mileage is normally distributed. To promote the new tire, Grear has offered to refund some money if the tire fails to reach 30,000 miles before the tire needs to be replaced. Specifically, for tires with a lifetime below 30,000 miles, Grear will refund a customer Si per 100 miles short of 30,000. a. Fo...

Bus 660Topic 5 DQ 1 and DQ 2: DQ 1: Models that pertain to the distribution of a resource within supply chains are often referred to as networks. Distribution among these networks is key to the success of a business while also keeping cost production at a minimum. Discuss at least three ways that linear optimization models can be applied to both physical as well as abstract network problems to increase efficiency in supply chain management. DQ 2: Solving shortest-route problems enables a busin...

Bus 660 Topic 6 DQ 1 and DQ 2 DQ 1: Create a simple 0, 1 integer model for a situation or problem you face in your life. Is there an optimal solution for your problem? What type of model would you use to create an optimal solution? Explain. DQ 2: Think about your own retirement investment portfolio or find an example of one online. Discuss how you might use a model to create the optimum portfolio allocation for your risk level.

BUS 660Topic 2 DQ 1 & DQ 2 DQ 1: Discuss the strategic importance of forecasting at your organization (or in one with which you are familiar). Provide two examples of ways that forecasting could improve organizational processes or strategic decisions. Support your rationale with evidence from the readings or external research. DQ 2: Explain how error measures can help to optimize moving averages, weighted moving averages, and exponential smoothing methods.