Which model of the following has been used to calculate the Inventory cost:

1. Average inventory * hours* Inventory Cost
2. (Start inventory + End inventory) * hours* Inventory Cost
3. Average (Start inventory + end inventory) * inventory cost
4. None of the above.

2. Which ones are forecasting techniques?
   1. regression analysis
   2. Delphi
   3. time-series models
   4. all of the above

3. 2. One of the following methods is a causal forecasting model. Which one?
   1. exponential smoothing
   2. regression analysis
   3. Delphi model
   4. sales force composite

4. Trend projection is an example of
   1. Delphi process.
   2. time series.
   3. causal methods.
   4. regression analysis.

5. Which of the following provide a solution for the following LP problem?

MAX: 3X1 +4X2

Subject to:

X1 ≤ 12

X2 ≤ 10

4X1 _ 6X2 ≤ 72

X1, X2 ≥ 0

1. X1 = 12, X2 = 3
2. X1= 18, X2=0
3. PROFIT = 54
4. PROFIT= 56

6. In exponential smoothing, if you wish to give a significant weight to the most recent observations, then the smoothing constant should be
   1. close to 0.
   2. close to 1.
   3. close to 0.5.
   4. less than the error.

7. Which among the following is an example of quadratic function?
   1. 2 + (10 * X)
   2. (3+4) *(4*X)
   3. 24 + (56 × X²)
   4. (5.3 × X²) + ( 21.6 × X³)
8. Which among the following is not true in learning curve?
   1. The learning curve in some cases illustrate how the cost per unit of output decreases over time as the result of accumulated workforce learning and experience
   2. The learning curve express the relationship between experience and efficiency.
   3. As individuals and/or organizations get more experienced at a task, they usually become more efficient at them.
   4. All of the above
9. Which among the following refers to chase method?
   1. Stable output rates and workforce
   2. Worker levels and production output are stable
   3. The cost of adjusting output rates and/or workforce levels
   4. Tends to be the preferred strategy of many organizations, including labor unions.
10. The firm should choose promotion and advertising in order to increase demand when:
    1. The capacity and the demand are nearly equal
    2. The capacity is greater than the demand
    3. The capacity is less than the demand
    4. None of the above
11. Which among the following is a problem that can be solved using the graphical method?
    1. 34P + 4T– 3R = 200
    2. 14M + 20 N = 300
    3. R - E = 300 + G
    4. R - (FC+VC) =300
12. If a company has discovered that at a price of $50, their sales volume will be 800 units. If they changed their price by $2, their sales will either increase of decrease by 50 units. Which among the following is a correct model of their price vs sales volume relationship?
    1. SALES VOLUME=400-50 * (PRICE-50)
    2. SALES VOLUME=800-50 * (PRICE-50)
    3. SALES VOLUME=800-25 * (PRICE-50)
    4. SALES VOLUME=800-25 * (PRICE-25)
    5.   

1 2 Limited Firing 3 Hour per brick (H) 4 Over time cost per brick (OV) 5 Cost per brick (CH) 6 Starting Production level (SPL) 7 Hiring cost per brick (HRC) 8 Firing cost per brick (FRC) 9 Inventory cost per Brick (IC) 10 Limited Regular Labor Hours (LRLH) 11 12 13 Production (P) 14 Demand (D) 15 Increase Production (IP) 16 Decrease Production (DP) 17 Labour hours required 18 Start Inventory (SI) 19 End Inventory (EI) 20 Cost of production 21 Cost of Firing 22 Cost of Hiring 23 Inventory cost 24 Monthly Cost 25 Total cost $ 1,000 Bricks Corporation 2 $40 1 25 200 $25 $10 $100 400 100 50 0 100 200 0 50 2 $5,000 $1,000 $0 100 100 0 0 200 50 50 D $5,000 $0 $0 3 250 325 200 300 150 75 0 0 500 650 50 100 100 125 $14,000 $20,000 $12,000 $0 $0 $1,000 $3,750 $1,875 $0 $2,500 $5,000 $7,500 $11,250 $6,250 $8,500 $10,000 $25,250 $33,125 $19,250 $103,375 4 LL F 5 225 350 0 100 450 125 0 U H 6 Totals 125 1,125 125 1,125 0 100 250 0 $6,250 $62,250 $1,000 $3,000 $0 $5,625 $0 $32,500 $7,250 $103,375