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BSOP 209 Operations
Analysis_ Week 2 Regression,
Correlation, and Forecast
Week 4 Waiting-Line Models
and Week 6 Quiz Answer
BSOP 209 Operations Analysis_ Week 2 Regression, Correlation, and Forecast Week 4
Waiting-Line Models and Week 6 Quiz
Week 2 Quiz
1. Question : (TCO 1) For a moving average forecast to be of any use to us, what
assumption must be true?
2. Question : (TCOs 3 and 4) In a regression equation, what is y hat?
3. Question : (TCOs 1 and 2) Given the following data, calculate the two-year moving
averages for years 5 through 10.
Year Demand
1 74
2 90
3 59
4 91
5 140
6 98
7 110
8 123
9 99
4. Question : (TCOs 3, 4 and 5) While conducting an accounting audit of their finished
goods inventory, Farmers Market clerks were able to construct the following data one of
their nonseasonal baskets.
(a) Use trend projection to estimate the relationship between time and sales (state the
equation).
(b) Calculate forecasts for the first four months of the next year.

1 2 3 4 5 6 7 8 9 10 11 12
Month Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Sales 51 55 54 57 65 70 54 59 67 70 75 73
Week 4 Quiz
1. Question : (TCO 6) What is the first step in solving a break-even analysis using a
graphic approach?
2. Question : (TCO 7) Define NPV.
3. Question : (TCO 9) What limits the use of a graphical solution to LP?
4. Question : (TCO 8) What are the three parts of a wait-line system?
5. Question : (TCO 8) In reference to queuing, what is a limited or finite population?
6. Question : (TCO 8) What does FIFO mean?
7. Question : (TCO 8) Describe or define a negative exponential-probability distribution.
8. Question : (TCO 8) Which waiting-line model has a dependent relationship between the
length of the queue and the arrival rate?
9. Question : (TCOs 6 and 7) XYZ plating is going ahead on an expansion project. They
will be able to earn $300 per hour and run 3,000 hours per year. What is the net present
value for the next five years with an interest rate of 6%?
Week 6 Quiz
1. (TCO 14) Briefly discuss the decision methods used when there is complete uncertainty
as to which state in a decision environment may occur. (Points : 10)
2. (TCOs 10,11 and 12) Chads Pottery Barn has enough clay to make 24 small vases or 6
large vases. He has only enough of a special glazing compound to glaze 16 of the small
vases or 8 of the large vases. Let X1 = the number of small vases and X2 = the number of
large vases.
The smaller vases sell for $3 each, and the larger vases would bring $9 each.
a. Formulate the problem.
b. Solve the problem. (Points : 30)
3. (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 firms
products. Values in the table are net present value of future profits in millions of dollars.
Forecasts indicate that there is a 0.2 probability of acceptance level 1, 0.1 chance of
acceptance level 2, 0.4 chance of acceptance level 3, and 0.3 change of acceptance level 4.
Using the criterion of expected monetary value, which production alternative should be
chosen? (Points : 30)