Operations Management Practice Exam
Course Introduction
Operations Management is a course that explores the fundamental concepts and techniques used to efficiently design, operate, and improve the processes that produce goods and services. Students will learn about key topics such as process analysis, capacity planning, supply chain management, quality control, inventory systems, and project management. Emphasis is placed on both quantitative and qualitative decision-making tools that help organizations achieve operational excellence and competitive advantage. Through case studies, simulations, and real-world examples, students will develop the skills needed to analyze and optimize operations in a variety of industries.
Recommended Textbook
Managerial Decision Modeling with Spreadsheets 3rd Edition by Nagraj Balakrishnan
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12 Chapters
583 Verified Questions
583 Flashcards
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Chapter 1: Introduction to Managerial Decision Making
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41 Verified Questions
41 Flashcards
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Sample Questions
Q1) Which of the following variables is considered to be qualitative?
A)annual sales
B)earnings per share
C)age
D)method of payment (e.g. ,cash or credit card)
E)price
Answer: D
Q2) The validity of input data is not a typical concern for analysts in decision modeling.
A)True
B)False
Answer: False
Q3) A decision model has the following input variables: Historical sales data and historical advertising budget.The model is considered to be probabilistic.
A)True
B)False
Answer: False
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Chapter 2: Linear Programming Models: Graphical and Computer Methods
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48 Verified Questions
48 Flashcards
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Sample Questions
Q1) Consider the following linear programming model
This linear programming model has:
\[\begin{array} { l l }
\operatorname { Min } & 2 \mathrm { X } _ { 1 } + 3 \mathrm { X } _ { 2 } \\
\text { Subject to: } & \mathrm { X } _ { 1 } + \mathrm { X } _ { 2 } \geq 4 \\
& \mathrm { X } _ { 1 } \geq 2 \\
& \mathrm { X } _ { 1 } , \mathrm { X } _ { 2 } \geq 0
\end{array}\]
A)unique optimal solution
B)unbounded solution
C)infeasible solution
D)alternate optimal solution
E)redundant constraints
Answer: A
Q2) When using Solver,the parameter Changing Cells is typically associated with the objective function.
A)True
B)False
Answer: False
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Chapter 3: Linear Programming Modeling Applications with Computer Analyses in Excel
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49 Verified Questions
49 Flashcards
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Sample Questions
Q1) In a multi-period production scheduling application,the decision choices in later periods are directly dependent on the decision made in earlier periods.
A)True
B)False
Answer: False
Q2) Refer to the table above.Assume that beginning inventory is zero.Use Excel to formulate and solve this multiperiod production problem to minimize total costs.
Answer: 11ea3b58_9b42_5d9f_ba0c_f97a47762f6d_TB1469_00
Q3) The "Transportation" problem involves determining the amount of goods to be transported from a number of origins to a number of destinations. A)True
B)False
Answer: True
Q4) Refer to the information above.Assume that demand for retail outlet three (R3)increases to 300 units.How will this affect the shipping cost? Use Excel to formulate and solve this problem
Answer: 11ea3b58_9b43_bd39_ba0c_7932f587983f_TB1469_00
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Chapter 4: Linear Programming Sensitivity Analysis
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Sample Questions
Q1) When the Allowable Increase or Allowable Decrease columns for the objective function coefficient of a variable has a value of zero in the Adjustable Cells table,this indicates the presence of a unique solution.
A)True
B)False
Q2) The Sensitivity Report has two parts: one part deals with objective function coefficient changes,and the other part deals with constraint coefficient changes.
A)True
B)False
Q3) A change in the right-hand side value of a binding constraint usually affects the size of the feasible region.
A)True
B)False
Q4) As long as the objective function coefficient for a given variable increases within its allowable increase,the current optimal solution remains the same
A)True
B)False
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6
Chapter 5: Transportation, Assignment, and Network Models
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37 Verified Questions
37 Flashcards
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Sample Questions
Q1) The starting node of the shortest path problem has a supply value of -1.
A)True
B)False
Q2) In a maximal flow problem,the flow capacity on the dummy arc connecting the destination node to the source node should be set to a very large value.
A)True
B)False
Q3) Every node in a network flow problem has a decision variable associated with it. A)True
B)False
Q4) The objective function of an assignment problem may be either maximization or minimization.
A)True B)False
Q5) Refer to the figure.What is the constraint associated with node 6?
A)X + X - X - X = +1
B)X + X - X - X = 0
C)X + X - X - X = +1
D)-X - X = -1
E)-X + X = 0
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Chapter 6: Integer, Goal, and Nonlinear Programming Models
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Sample Questions
Q1) Consider the following linear programming problem: \[\begin{array} { l }
\text { Max: } 500 A + 700 B \\ \text { Subject to: } \\
2 A + 3 B \leq 35 \text { (assembly hours) } \\
3 A + 5 B \leq 40 \text { (machine hours) } \end{array}\]
Reformulate and solve this problem as a goal programming problem if the following goals,with their associated weights,must be met.
Goal 1: Produce at least 15 units of product A;Weight 15
Goal 2: Produce at least 15 units of product B;Weight 15
Goal 3: Minimize overtime in assembly department;Weight 25
Goal 4: Minimize overtime in machine department;Weight 25
Goal 5: Achieve at least $100,000 in profit;Weight 20
Q2) Consider the following constraint and its associated binary variables: XA + XB = 1. This constraint is an example of an if-then constraint.
A)True
B)False
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Chapter 7: Project Management
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52 Verified Questions
52 Flashcards
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Sample Questions
Q1) The crash cost per period is computed as: (crash cost - standard cost)/(standard time - crash time).
A)True
B)False
Q2) Using the data above,develop a network for this project.
Q3) 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?
Q4) Using this data above,develop a network for this project.
Q5) Any activity in the project network can be crashed in order to reduce the overall expected completion time.
A)True
B)False
Q6) Using the data above,develop a network for this project.
Q7) Using the data above,develop a network for this banquet.
Page 9
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Chapter 8: Decision Analysis
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53 Verified Questions
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Sample Questions
Q1) Refer to the information above.
a.Which alternative should be chosen based on the maximax criterion?
b.Which alternative should be chosen based on the maximin criterion?
c.Which alternative should be chosen based on the Lapalce criterion?
d.Which alternative should be chosen based on criterion of realism with alpha = 0.7?
e.Which alternative should be chosen based on the minimax regret criterion?
Q2) Which of the following statements the use of decision trees in multi-stage decision making problems is False?
A)Multi-stage decision making problems involve a sequence of decisions.
B)EVSI is an upper bound for the EVPI.
C)Multi-stage decision making problems using decision trees are solved moving backward.
D)EVSI measure the value of sample information.
E)The efficiency of sample information is a ratio of EVSI to EVPI.
Q3) In a decision tree representation,round nodes represent decision alternatives.
A)True
B)False
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Chapter 9: Queuing Models
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Sample Questions
Q1) If the average arrival rate ( )is greater than the average service rate (µ),the queue length will grow indefinitely.
A)True
B)False
Q2) Refer to the table.What percent of the time is the server busy?
A)10%
B)33%
C)23%
D)70%
E)30%
Q3) The Exponential distribution is used in many queuing models to represent service time patterns.
A)True
B)False
Q4) The average time each customer spends in the queue is referred to as:
A)W
B)Wq
C)L
D)Lq
E)
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Chapter 10: Simulation Modeling
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Sample Questions
Q1) Refer to the information above.Suppose that the hotel's manager believes that accepting 320 nightly reservations is a policy that the hotel should implement.Use Crystal Ball to estimate the average daily profit using the manager's policy.Use 1000 replications.
Q2) What is the correct distribution for simulating the outcome of a single coin?
A)continuous uniform
B)triangular
C)binomial
D)exponential
E)normal
Q3) Suppose that IQ scores are normally distributed with a mean of 100 and a standard deviation of 15.
a.Suppose that 1000 individuals took the IQ examination.Use Crystal Ball to simulate their scores.
b.What is the mean of the simulated IQ scores?
c.Suppose that being in the top 2% qualifies an individual as a genius.Using the simulated IQ scores,what should the IQ score be to qualify as a genius?
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12
Chapter 11: Forecasting Models
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Sample Questions
Q1) Refer to the table above.
a.Use exponential smoothing with a smoothing constant of 0.3 to forecast the number of immigrants in 2002.
b.Use exponential smoothing with a smoothing constant of 0.6 to forecast number of immigrants in 2002.
c.Which of the two methods provides a more accurate forecast based on the MAD criterion?
Q2) Moving averages are useful in forecasting stationary time series as they tend to smooth out random variations.
A)True
B)False
Q3) Refer to the table above.Use a 3-period weighted moving average to forecast the population of the United States in 2003.Use Solver to determine the optimal weights based on minimizing the MAD criterion.
Q4) Removing the seasonal component from a data series (i.e. ,unseasonalization)can be accomplished by multiplying each data point by its appropriate seasonal index.
A)True
B)False
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13
Chapter 12: Inventory Control Models
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Sample Questions
Q1) A shoe store sells 90 pairs of shoes each month.Each pair carried in stock incurs a holding cost of $10 per month.Each order costs approximately $25 in shipping and receiving.
a.What is the optimal EOQ?
b.What is the optimal number of orders per month?
c.What are the total ordering and carrying costs?
Q2) The Economic Order Quantity (EOQ)formula assumes that all input data are known with certainty.
A)True
B)False
Q3) Spoilage is considered to be a part of carrying cost.
A)True
B)False
Q4) 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
Q5) The EPQ model is primarily concerned with the timing of orders.
A)True
B)False
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