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Operations Management Questions

See attached file for clarity.

1. (TCO 5) What is the forecast for May, based on a weighted moving average applied to the following past-demand data and using the weights 4, 3, 2 (largest weight is for most recent data)?
Nov. Dec. Jan. Feb. Mar. April
37 36 40 42 47 43

42.5
33.6
40.3
44.1
39.22

2. (TCO 5) Jim's department at a local department store has tracked the sales of a product over the last ten weeks exponential smoothing with an alpha of 0.4. In January he forecasted $150,000 in sales and achieved $155,000 is sales. Using this same forecasting model, estimate Jim's February sales.
$152,000
$155,000
$157,000
$305,000

3. (TCO 5) What is the approximate forecast for May using a four-month moving average?
Nov. Dec. Jan. Feb. Mar. April
39 36 40 42 48 46

32
44
48
40

1. (TCO 7) Which of these statements best describes virtual reality technology?
It is used to monitor and control a physical process.
It is the use of special computer programs to direct and control manufacturing equipment.
It is the ability to depict objects in three-dimensional form.
It is a visual form of communication in which images substitute for the real thing.

2. (TCO 7) Which of the following helps operations managers focus on the critical few and not the trivial many?
value analysis
value engineering
financial analysis
product-by-value analysis
product cost justification

3. (TCO 7) Which of the following moments of truth exemplifies the customer's standard expectations?
Your advisor made you wait, even though you had an appointment
You had to visit more than once to reach your academic advisor
Your advisor was competent, helpful, and understanding
Your advisor failed to keep her appointment with you

4. (TCO 7) In which stage of the product life cycle is does cost control need to be improved?
introduction
growth
maturity
decline

5. (TCO 7) The specific components inputted into the third house in the house of quality are satisfied by
the quality plan
customer requirements
design characteristics
the production process

6. (TCO 5) The data points used in time-series forecasting
are spaced randomly
are never known
have variable spacing
are evenly spaced
can not be determined

7. (TCO 5) Which of the following is not a step in the forecasting process?
determine the use of the forecast
eliminate any assumptions
determine the time horizon
select a forecasting model(s)
validate and implement the results

8. (TCO 6) Which of these statements best describes computer-aided manufacturing (CAM)?
It is the interactive use of computers to design a product and prepare engineering documentation.
The use of special computer programs to direct and control manufacturing equipment.
It is the ability to depict objects in three-dimensional form.
It is a visual form of communication in which images substitute for the real thing.

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Solution Preview

The first question for which you seek help with relates to weighted moving average. As you should be aware, "a weighted moving average is simply a moving average that is weighted so that more recent values are more heavily weighted than values further in the past." Hence, in the question given the heavier weight is applied to the most recent month (which is April). To calculate weighted moving average, the formula is often given by:

E(X) = ∑ (Xi * Wi)

Where Xi is the forecasted amount and Wi is the weight. For the question given:

The weights ae 4/9, 3/9 and 2/9, therefore,

E(X) = (43*4/9) + (47*3/9) + (42*2/9) (Note the heaviest weight is applied to the month of April)

= 19.11 + 15.67 + 9.33

= 44.1

The forecast for May based on the WMA is therefore approximately 44.1.

For the second question, you have been asked to ...

Solution Summary

This solution include responses to a set of operations management multiple choice questions. Topics covered include Forecasting, Virtual Reality Technology, Product Life Cycle.

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