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OM 300 Exam 1 Northam Questions And Answers Rated A+
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OM 300 Exam 1 Northam Questions And Answers Rated A+ What is a model? ANS A purposeful representation of key elements of objects or systems and the relationships among them; provides abstract representation of something real What should be omitted in a model? ANS Useless data What are the ...

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  • September 1, 2024
  • 12
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • om 300 exam 1 northam
  • om 300 exam 1
  • om 300 exam 1 northam questions and answers rated

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OM 300 Exam 1 Northam Questions And Answers
Rated A+
What is a model? ANS A purposeful representation of key elements of objects or systems and the relationships
among them; provides abstract representation of something real



What should be omitted in a model? ANS Useless data



What are the four different types of models? ANS 1. Mental Models

2. Visual Models

3. Physical Models

4. Mathematical Models



What is mental model? ANS Models that tell you what to do; example: traffic light, ski slope difficulty indicator



What is a visual model? ANS Graphic model; example: maps and flowcharts



What is a physical model? ANS A 3D representation, usually intended for larger objects to scale; example:
model of a cruise ship



What is mathematical model? ANS Model that shows a quantitative representation of a real problem. This is
really the only model that we will be using; example: weather forecasts, spreadsheet, balance sheet etc.



What are the two types of mathematical models? ANS 1. Algebraic: Equations that represent relationships
between quantities in a system

2. Spreadsheet: Way of implementing mathematical models; usually more visually appealing



What are the ABCs of spreadsheet modeling? ANS A - All work must

B - Be:



C - Correct - Correct Numerical Answers



D - Documented - Descriptive Labels, Comments, Formatting

, E - Engineered - Design is important; draw on paper first



F - Flexible - Accurate results if input changes; formulas

contain cell references and NOT hard coded numerical values



What is an Influence Chart? ANS A simple diagram to show the relationships between inputs and outputs in a
spreadsheet model; typically a simple hand-drawn model



Why do we use influence charts? ANS To define the problem structure, ignore all numerical data, identify the
main elements of the model, and define the assumptions of the model



Chapter 1: Operations & Productivity ANS N/a



What is Operations Management (OM)? ANS Production activities that go on in an organization that create
value; turns inputs into outputs



What is production? ANS The creation of goods and services



What the 3 main functions of any business and what do they do? ANS 1. Marketing - Generates demand

2. Production/Operations - Creates the product

3. Finance/Accounting - Tracks how well the organization is doing, pays bills, collects money



What are the 10 OM decisions from the book?

(Note: The decisions are the same but just worded differently, but I am putting both just incase) ANS 1. Design
of Goods and Services

2. Managing Quality

3. Process Strategy

4. Location Strategy

5. Layout Strategy

6. Human Resources

7. Supply Chain Management

8. Inventory Management

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