2.  In class  Closed book  Calculators and paper translation dictionary allowed  There will be a list of equations given

3.  Short case to read  5 questions  Total marks 50  Scheduled for 2 hours

4. 1. If we didn’t talk about it and it’s not in the lecture slides – it probably won’t be on the test 2. If it was in the lecture slides but we didn’t talk about it much – it might be on the test but not in huge detail 3. If we talked about it, it’s in the lecture slides, I asked you lots of questions about it – it probably will be on the test in detail

5.  Tell me “why”  Make the links for me  Link things back to main ideas within Ops or another area.  Point form is ok

6.  Instead of tell me: ◦ a con to Delphi method is it is time consuming  Tell me: ◦ A con to using the Delphi method is that it involves a lot of time to get the experts to agree. This means it is time consuming. This could be a problem if the question being asked is time sensitive.

7.  In your pizza restaurant your boss tells you to calculate the days of supply of pizza dough and ingredients. The annual costs of goods sold is $3,000,000, the average inventory is $12,000, and the company operates 250 days a year. Days of supply = average inventory on hand in dollars average daily usage in dollars average inventory on hand in dollars = annual cost of goods sold days

8.  How many days of supply of pizza dough and ingredients do you have?  Why is this important to know?  Name two pros and cons to having this many days of supply in inventory.

9.  Mike and Rachel need someone to answer the phone at their gym. They could hire a new staff member. She would work part time (20 hours a week) at $10.00 an hour. She would need to be trained by one of the other staff members. Mike thinks this training would only take 2 hours and is willing to pay Marty, another staff member, overtime (time and a half) to train her. They could also hire a company. The company charges $8 an hour for a 25 hour week. Mike and Rachel would have to rent the equipment for a flat yearly fee of $300.

10.  Based on the numbers should Mike and Rachel hire a new staff member or hire the company?  What other issues that you might consider other than the numbers?  What is your recommendation? Why?

11.  You work at a university. Your dean is concerned about what type long term technological changes may impact the university. She asks about using the Delphi method.  Explain the Delphi method.  Explain how the Delphi method will help forecast these changes.  What are the weaknesses of this method?  What other methods would you suggest? Why?

12.  I’m testing to see how you’re doing with the material not to trick you.