The Final Exam is a timed (30 minutes maximum), closed book and notes, consisting of 10 multiple choice questions that will be administered via Canvas and cover the following areas of the course:

Quality Control Charting and Control Limts

- Ability to read the chart for determining control limits

- Calculate + 3 sigma control limits

- Understand how to derive UCL and LCL limits for x-bar and R charts

Economic Order Quantity Models (EOQ)

- Know how to calculate an optimal economic order quantity, Q^*

- Know the formula for the EOQ model

Break-Even Analysis

-Know and be able to use the break-even formula to find a B/E point

Cross-Over or Cost Volume Break-Even Analysis

-Know and be able to use the cost volume break-even formula to find a cross-over/indifference point

Cost of Process A = Cost of Process B

-Understand that the point at which the cost of process A equals the cost of process B is the cross-over/indifference point

Master Production Scheduling/Master Requirements Planning (MPS/MRP)

- Understand how to net out an MPS/MRP (e.g., think back to the MRP matrices from class)

Forecasting

- Be able to construct a forecast using Moving Averages and Exponential Smoothing techniques

- Be able to calculate error from forecast and actual numbers

- Be able to calculate Mean Absolute Deviation either from a forecast and actual numbers or from error measurements themselves