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ADMS 3330 Study Guide - Scantron Corporation, Expected Value Of Perfect Information


Department
Administrative Studies
Course Code
ADMS 3330
Professor
all

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AK/ADMS 3330.3.0 MIDTERM EXAMINATION Part 2
1 | Page
ADMS 3330 Summer 2012
MIDTERM EXAMINATION – Part 2 of 2
June 24, 2012 Total Time Allowed: 3hrs (Parts 1&2)
Prof. F. Cavanagh Section B Section C
Prof. S. Abdulla Section D
Prof. A. Dasci Section E
Instructions
1. You must write this exam in the section in which you are enrolled and the room
assigned.
2. This is a closed book examination.
3. Answer all questions on examination paper where space is provided You must show your work
4. Record Multiple Choice answers on the Scantron sheet
5. Aids allowed: writing utensils, eraser, silent non-programmable calculator, and English paper-
based dictionary.
6. Calculations are to be done to the 4th decimal place
7. YOU MUST HAND IN THIS EXAM (WITH ALL PAGES INTACT) BEFORE LEAVING THE
EXAMINATION ROOM FAILURE TO DO SO WILL RESULT IN AN AUTOMATIC F GRADE.
MARKS:
K E Y MCQ: (60)
___________________________ Question 1: (18)
Student’s Name (Print) Question 2: (22)
TOTAL: (100)
___________________________
Student Number
___________________________
Signature
DO NOT DETACH ANY PAGES.

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AK/ADMS 3330.3.0 MIDTERM EXAMINATION Part 2
2 | Page
Question 1 (18 marks)
ACME Heavy Machinery Division’s is a world leader in heavy-duty equipment used in
surface mining and construction operations. The quarterly demand for one of their
most popular lines in the past 14 quarters (3.5 years) is given below:
a) Assuming a Multiplicative Time-Series Model, Compute the seasonal Indices for
all four seasons and de-seasonalize the data. (Use next page if needed. There are
other follow-up questions). [13 marks]
Period
Year Season Demand
4MA Centered SeasonalIrregular
12009 Winter 184
2Spring 280
3Summer 400 276 278 1.43885
4Fall 240 280 285.5 0.84063
52010 Winter 200 291 301 0.66445
6Spring 324 311 308.5 1.05024
7Summer 480 306 307.5 1.56098
8Fall 220 309 313.5 0.70175
92011 Winter 212 318 322 0.65839
10 Spring 360 326 327.5 1.09924
11 Summer 512 329 330 1.55152
12 Fall 232 331 330 0.70303
13 2012 Winter 220 329
14 Spring 352
Indices NormlizedIndices
Winter 0.6614 0.6611
Spring 1.0747 1.0743
Summer 1.5171 1.5165
Fall 0.7485 0.7481
1.0004
b) On average, which season has the lowest demand? [1 mark]
Winter, which has the lowest index (0.6614).
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