306 final exam - Sabrina Grasso PDF

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Sabrina Grasso...

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28 multiple choice, 3 big problems

https://quizlet.com/_7lrzo4?x=1qqt&i=1nb8u Chapter 13- inventory ● EOQ model ○ Know how to work through all equations -hw and practice problems from slides ○ What all variables stand for ○ Basic EOQ ■ Policy 1 policy 2 optimal solution *** ● Exercise 6-- MRP -know how to work through a problem like hw and problems from slides --big problem on this Chapter 5S- decision theory ***Exercise 7!! ● Payoff table -how to work through a problem ○ Values on diagonal ■ Conditional payoff=(selling price-cost)(units sold) ○ Values above the diagonal= (selling price-cost)*(units sold) - (salvage value *extra stock) ● How to solve for each condition of uncertainty: maximax, maximin, equally likely ● How to solve conditions of risk: ○ EMV(x)=sum(weight*state) ● ● ● ●

Value of perfect information problem EVPI=EPPI-EMV How to make a decision tree and fold it back How to work through a simulation -hw and practice problems from slides

Simulation ●...