Operations Management
Mock Exam
Course Introduction
Operations Management explores the principles and practices that organizations use to design, oversee, and improve their production of goods and services. This course covers key topics such as process analysis, quality management, supply chain coordination, inventory control, and workflow optimization. Through cases and real-world examples, students learn how effective operations strategies can contribute to competitiveness, cost efficiency, and customer satisfaction. The course also addresses the impact of technological advancements and sustainability on operational decision-making.
Recommended Textbook
Managerial Decision Modeling with Spreadsheets 3rd Edition by Nagraj Balakrishnan
Available Study Resources on Quizplus
12 Chapters
583 Verified Questions
583 Flashcards
Source URL: https://quizplus.com/study-set/974
Page 2
Chapter 1: Introduction to Managerial Decision Making
Available Study Resources on Quizplus for this Chatper
41 Verified Questions
41 Flashcards
Source URL: https://quizplus.com/quiz/19243
Sample Questions
Q1) If all the variables in a model are under the control of the decision maker,then the model is considered to be:
A)probabilistic
B)random
C)mathematical
D)schematic
E)deterministic
Answer: E
Q2) The ABC Corporation is considering introducing a new product,which will require buying new equipment for a monthly payment of $5,000.Each unit produced can be sold for $20.00.ABC incurs a variable cost of $10.00 per unit.Suppose that ABC anticipates selling 100 units of the new product next month.Moreover,they would like to realize a monthly profit of $5000.What should the selling price per unit be to realize this profit?
A)$100
B)$120
C)$130
D)$115
E)$110
Answer: E
To view all questions and flashcards with answers, click on the resource link above.
3
Chapter 2: Linear Programming Models: Graphical and Computer Methods
Available Study Resources on Quizplus for this Chatper
48 Verified Questions
48 Flashcards
Source URL: https://quizplus.com/quiz/19244
Sample Questions
Q1) "Solver" typically generates which of the following report(s)?
A)answer report
B)sensitivity analysis report
C)limits report
D)A and B only
E)A,B,and C
Answer: E
Q2) In a product mix problem,a decision maker has limited availability of weekly labor hours.Labor hours would most likely constitute a decision variable rather than a constraint.
A)True
B)False
Answer: False
Q3) A linear programming model has the following two constraints: X 3 and X 4.This model has a redundant constraint.
A)True
B)False
Answer: True
To view all questions and flashcards with answers, click on the resource link above. Page 4
Chapter 3: Linear Programming Modeling Applications with Computer Analyses in Excel
Available Study Resources on Quizplus for this Chatper
49 Verified Questions
49 Flashcards
Source URL: https://quizplus.com/quiz/19245
Sample Questions
Q1) Refer to the table above.Assume that job number 4 was canceled and will no longer be processed.How will this affect the job-machine assignment? Use Excel to model and solve this problem to determine the least costly assignment.
Answer: 11ea3b58_9b42_0f7b_ba0c_7968e0df20b1_TB1469_00
Q2) Refer to the information above.The company wants to come up with an optimal shipping strategy to minimize its total shipping cost.Use Excel to formulate and solve this problem.
Answer: 11ea3b58_9b43_6f18_ba0c_0d4de85622a8_TB1469_00
Q3) Refer to the spreadsheet above.Which equation should be entered in cell D8 to compute the consumption of resource 3 (i.e. ,constraint #3)?
A)=SUMPRODUCT(B1:C1,B8:C8)
B)=SUMPRODUCT(B2:C2,B7:C7)
C)=SUMPRODUCT(B2:C2,B8:C8)
D)=SUMPRODUCT(D6:D8,E6:E8)
E)=SUMPRODUCT(B2:C2,E6:E8)
Answer: C
To view all questions and flashcards with answers, click on the resource link above.
5
Chapter 4: Linear Programming Sensitivity Analysis
Available Study Resources on Quizplus for this Chatper
44 Verified Questions
44 Flashcards
Source URL: https://quizplus.com/quiz/19246
Sample Questions
Q1) Use the Sensitivity Report to answer the following questions:
a.Suppose that the shipping cost per unit for variable X1 (i.e. ,route F1-R1)increases to $2.00.What impact will this have on the current optimal solution and the objective function value?
b.Suppose that the shipping cost per unit for variable X6 (i.e. ,route F2-R3)increases by $2.00 to $5.00.What impact will this have on the current optimal solution and the objective function value?
c.Suppose that the factory constraints and the retail outlet constraints become " ".What would the optimal solution and the objective function coefficient be? (Hint: The answer to this question is not given in the Sensitivity Report. )
Q2) Use the Sensitivity Report to answer the following questions:
a.Will any of the retail outlets experience any shortages in meeting their demand requirements if we implement the optimal solution?
b.Will any of the factories have any remaining quantities of the product if we implement the optimal solution?
c.What is the total minimal shipping cost?
To view all questions and flashcards with answers, click on the resource link above.
Chapter 5: Transportation, Assignment, and Network Models
Available Study Resources on Quizplus for this Chatper
37 Verified Questions
37 Flashcards
Source URL: https://quizplus.com/quiz/19247
Sample Questions
Q1) Refer to the figure.What is the constraint associated with node 6?
A)X + X = 0
B)X + X = 1
C)X + X - X = 1
D)X + X - X = -1
E)X + X - X = 0
Q2) Refer to the figure.What is the constraint associated with node 1?
A)-X - X = 1
B)X - X - X = -1
C)X - X - X = 1
D)X - X - X = 0
E)X - X - X =
Q3) Refer to the network above and its associated spreadsheet.
a.What equation should be entered in cell B23?
b.What equation should be entered in cell B27?
c.What equation should be entered in cell I4?
Q4) Refer to the information above. Using Excel, determine how many units should be shipped for all possible origin and destination points (final or intermediate) in the distribution network in order to minimize shipping costs.
To view all questions and flashcards with answers, click on the resource link above. Page 7
Chapter 6: Integer, Goal, and Nonlinear Programming Models
Available Study Resources on Quizplus for this Chatper
55 Verified Questions
55 Flashcards
Source URL: https://quizplus.com/quiz/19248
Sample Questions
Q1) These are problems in which some,but not all,the decision variables must have integer solutions:
A)mixed IP problems
B)pure IP problems
C)pure binary problems
D)mixed binary IP problems
E)goal programming problems
Q2) Refer to the information above.Assume that the following conditions must be met: a)We want to ensure that exactly one of these products: A,B,or C must be processed. b)We want to ensure that if product E is processed then product F must be processed. Which products should be processed to maximize the total profit contribution?
Q3) Determine which set of projects should be selected in order to achieve the maximum net present value if the decision maker has $150,000 available for investment each year.
Q4) Refer to the information above.Which products should be processed to maximize the total profit contribution?
To view all questions and flashcards with answers, click on the resource link above.
8
Chapter 7: Project Management
Available Study Resources on Quizplus for this Chatper
52 Verified Questions
52 Flashcards
Source URL: https://quizplus.com/quiz/19249
Sample Questions
Q1) Refer to the figure.What is the earliest start time (EST)and earliest finish time (EFT)of activity E?
A)EST = 7,EFT = 10
B)EST = 10,EFT = 7
C)EST = 11,EFT = 8
D)EST = 8,EFT = 10
E)EST = 8,EFT = 11
Q2) Suppose that the amount of time it takes to process insurance claims is normally distributed with a mean of 12 weeks and a variance of 9 weeks.What is the probability that the next claim will be processed within a.10 weeks?
b.11 weeks?
c.12 weeks?
d.23 weeks?
Q3) All activities on the critical path have zero slack.
A)True
B)False
Q4) Using this data above,develop a network for this project.
Q5) Using the data above,develop a network for this project.
Q6) Using the data above,develop a network for this project.
Page 9
To view all questions and flashcards with answers, click on the resource link above.
Chapter 8: Decision Analysis
Available Study Resources on Quizplus for this Chatper
53 Verified Questions
53 Flashcards
Source URL: https://quizplus.com/quiz/19250
Sample Questions
Q1) Refer to the payoff table.What is the expected value under certainty? Assume P(S1)= 0.5 and P(S2)= 0.25.
A)$101.25
B)$103.33
C)$108.33
D)$116.25
E)$136.25
Q2) The expected opportunity loss (EOL)will always result in the same decision as the maximum expected monetary value (EMV).
A)True
B)False
Q3) Refer to the information above.Assume that the bakery (see problem 7)has obtained the following probability information regarding demand for the pies: P(50)= 0.3,P(100)= 0.5,and P(150)= 0.2.
a.Which alternative should be chosen using the expected monetary value (EMV)criterion?
b.What is the expected value under certainty?
c.What is the expected value under perfect information (EVPI)?
To view all questions and flashcards with answers, click on the resource link above. Page 10
Chapter 9: Queuing Models
Available Study Resources on Quizplus for this Chatper
47 Verified Questions
47 Flashcards
Source URL: https://quizplus.com/quiz/19251
Sample Questions
Q1) A beauty salon employs three hairdressers.All customers get their hair washed in one area of the salon before being taken to another area to get their hair cut.Customer arrival rate and service time follows the Poisson and exponential distributions,respectively.What is the Kendall notation for this system?
A)M/M/1
B)D/M/3
C)M/D/3
D)M/G/3
E)M/M/3
Q2) Refer to the table.What is the probability that the service facility will be idle?
A)0.23
B)0.70
C)0.33
D)0.30
E)0.233
Q3) Service time in queuing systems often follows the Poisson distribution.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
11
Chapter 10: Simulation Modeling
Available Study Resources on Quizplus for this Chatper
54 Verified Questions
54 Flashcards
Source URL: https://quizplus.com/quiz/19252
Sample Questions
Q1) Daily demand for bananas at a grocery store is normally distributed with a mean of 100 lbs and standard deviation of 20.Use Excel to set up a Monte Carlo simulation of 12 months.
Q2) A queuing system has an arrival rate of 5 customers per hour and a service rate of 8 customers per hour.You decide to build a simulation model to describe the service time per customer.The best appropriate distribution to use is:
A)triangular
B)exponential
C)normal
D)binomial
E)discrete uniform
Q3) Which of the following is considered a disadvantage of simulation?
A)Simulation models do not allow for time compression.
B)Simulation models do not allow for what-if analysis.
C)Simulation models cannot emulate real systems.
D)Simulation models do not generate optimal solutions.
E)Simulation models are not unique.
Q4) Consider a single deck of cards.Use Crystal Ball to determine the odds of drawing 2 aces without replacement.Use 1000 replications.
To view all questions and flashcards with answers, click on the resource link above. Page 12
Chapter 11: Forecasting Models
Available Study Resources on Quizplus for this Chatper
64 Verified Questions
64 Flashcards
Source URL: https://quizplus.com/quiz/19253
Sample Questions
Q1) Refer to the table above.Using a multiplicative decomposition model,forecast ice cream sales for the next three days.
Q2) Suppose that you intend to use Solver to compute the optimal weights for a weighted moving average.Changing variable cells would refer to:
A)the MAD cell
B)the MSE cell
C)the MAPE cell
D)the weights cells
E)the forecast cells
Q3) If a time series exhibits a strong,linear upward trend,the value of the correlation coefficient,r,is expected to be positive and close to -1.
A)True
B)False
Q4) Refer to the table above.Using Solver to find the optimal alpha that minimizes MAD,use exponential smoothing to forecast the population of the United States in 2003.
Q5) Refer to the table above.Using a multiplicative decomposition model,forecast the next four quarterly sales data.
To view all questions and flashcards with answers, click on the resource link above.
13
Chapter 12: Inventory Control Models
Available Study Resources on Quizplus for this Chatper
39 Verified Questions
39 Flashcards
Source URL: https://quizplus.com/quiz/19254
Sample Questions
Q1) Quantity discounts give customers a price incentive to buy in larger quantities.
A)True
B)False
Q2) In the Economic Order Quantity (EOQ)model,the maximum amount of inventory held in a given cycle is the optimal order quantity Q*.
A)True
B)False
Q3) Which of the following is NOT considered to be a part of carrying costs?
A)insurance
B)spoilage
C)obsolescence
D)theft
E)inspection
Q4) Refer to the information above.What is the optimal EPQ?
A)1389
B)1425.68
C)1250.27
D)1000
E)1581.14
To view all questions and flashcards with answers, click on the resource link above. Page 14