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1. BSOP 209 Week 8 Final Exam
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BSOP 209 Week 8 Final Exam
1. (TCO 8) What are the three parts of a wait-line
system? (Points : 15)
2. (TCO 9) What is the objective function of LP?
(Points : 15)
3. (TCO 11 & 12) What are two of the steps in a
simplex maximization problem? (Points : 15)
4. (TCO 10) What will happen if the right-hand side
of a constraint is changed? (Points : 15)
5. (TCO 15 & 16) What are three of the basic steps
that both PERT and CPM follow? (Points : 15)

2. 6. (TCO 16) What is a “dummy activity?” (Points :
15)
7. (TCO 3, 4, & 5) What is the formula for linear
regression? Define each part. (Points : 15)
8. (TCO 1) What are the four qualitative forecasting
approaches that are available to us? (Points : 15)
9. (TCO 6) Describe the “revenue junction.”
(Points : 15)
10. (TCO 8) What are the three parts of a typical
queuing system? (Points : 15)
11. (TCO 8) When designing a waiting line system,
what “qualitative” concerns need to be considered?
(Points : 15)
12. (TCO 8) What is the expected value with perfect
information? (Points : 15)
1. (TCO 1 &2) What is the forecast for Aug based on a
weighted moving average applied to the following past
demand data and using the weights: 5, 3, 1.5? (largest
weight is for most recent data)
2. (TCO 3, 4, and 5) The XYZ Paint Shop owns and
operates a dozen shops in southern Iowa. Their
signature paint is black epoxy. Sales (X, in millions of
dollars) is related to Profits (Y, in hundreds of

3. thousands of dollars) by the regression equation Y =
6.321 + 0.65X. What is your forecast of profit for a store
with sales of $25 million? $65 million? (Points : 30)
3. (TCO 6 and 7) A product is currently made in a job
shop, where fixed costs are $4,500 per year and variable
cost is $10 per unit. The firm sells the product for $70
per unit. What is the break-even point for this
operation? What is the profit (or loss) on a demand of
220 units per year? (Points : 30)
4. (TCO 13, 14) XYZ coating company has reviewed four
new processes for improving their coating line. The four
processes, labeled A, B, C, and D use different technology
and have different capacities. All the processes have the
same level of production and the lifetime. The four
states of nature represent four levels of consumer
acceptance of the firm’s products. Values in the table are
net present value of future profits in millions of dollars.
Forecasts indicate that there is a 0.4 probability of
acceptance level 1, 0.3 chance of acceptance level 2, 0.6
chance of acceptance level 3, and 0.5 change of
acceptance level 4………..Using the criterion of expected
monetary value, which production alternative should be
chosen? (Points : 30)