What are Sequencing/Priority Rules? What are they used for? What, if any, is (are) the difference(s) between Sequencing Rules and Measures of Performance? How are they related?
In Line Balancing, where there are multiple Tasks available, at the same time, for assignment to a work-station, how do we choose which task goes first? What is a CPM Diagram? Why do we use it in Line Balancing?
In Trend Projection forecasting, how are the constants, a and b interpreted? How, if at all, are the Correlation Coefficient and the Coefficient of Determination used? What is the significance of each Coefficient to your forecasting?
Exponential Smoothing is a weighted average. Is that true? Explain.
In weighted averages the weights can be redistributed to provide more or less forecast sensitivity. Explain. How is this done in Exponential smoothing? How is it done in Moving Average forecasting? How might you adjust your weights if there is an upward or downward trend in your data?
How do we determine the accuracy of a forecast? Is Error Measurement important in Forecasting? Why? In what ways may we measure errors? How would you choose which of the available forecasting techniques to use?