Production and Operation management exam

Exam starts in less than 2 hours and it is 40 minutes exam.

Exam will be 60 points possible (6 areas of problems calculations- 1 area from Ch. 2 and 5 problem areas from Ch. 3)

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attached ch 2 and ch 3 slides

Text book :Shukla, P. K. Operations Management McGraw Hill Create, 2019. Publisher: McGraw Hill Create, Year Published: 2019, ISBN-10: 1307421148 ISBN-13: 9781307421149.

Chapter 2

will have problems and calculations which involve the calculation of productivity measures: total factor, multifactor, and partial (where the 2 or more inputs of interest are identified). Know how to calculate productivity measures where output is calculated in units and is also calculated in total dollars or revenue (units of output * selling price). Know how to calculate labor productivity measures where labor is in units of labor hours and in labor dollars (labor hours * wages).

Chapter 3

There are some concepts that are less important to worry about calculating such as: mean squared error, std. deviation of the errors, and exponentially smoothed error. Skip exponential smoothing and skip exponential smoothing with trend (skip Example 3.1 on p. 56). For Problems/Calculations related to Chapter 3:

1. Know how to do a simple moving average forecast as done in the textbook on p. 51

2. Know how to do a weighted moving average as done in the textbook on p. 52

3. Know how to do a calculation of line of best fit single variable linear regression with time period as the independent variable and use the regression equation to predict sales for a future time period as done in the textbook on p. 57-59 Example 3.2. You only need to identify the regression equation and predicted sales value. You do not need to show a graph like in exhibit 3.6 on p. 58 and you do not need a table like in exhibit 3.7 on p. 59. You will not have to calculate the standard error of the estimate as shown on p. 59

4. Know how to do a forecast with seasonal index as done in the textbook Example 3.3 on p. 62 whereyou are given Year 1 quarterly sales data, overall yearly sales expected for Year 2 and are asked to forecast the Year 2 quarterly sales forecast using the Year 1 seasonal index. You can skip Example 3.4 on p. 63.5. Know how to calculate overall 6 period MAD and overall 6 period Percent Error as shown in in the solved example in the Ch. 3 ppt slide. You do not have to calculate the RSFE (running sum of forecast error), or TS (tracking signal).


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