OSC 5620 Exam 1 with all Correct & 100% Verified
Answers |Latest Version |Already Graded A+
1. demand model A demand model enables us to deal with uncertainty by quantifying
specifies what demand outcomes are possible and the probability of
these out-comes (must have expected demand and uncertainty in
that demand)
2. precision is being measured by the SD of demand
often (but not
limited to)
3. three types of
normal, gamma and poisson
distributions
that are used
as de-mand
models
4. empirical built on historical data
distrib-utions
are
continuous distribution
5. normal two parameters : mean and sd
distribu-tion
discrete distribution: takes values, 0, 1, 2
6. poisson one parameter: mean which is also the variance BUT standard deviation is
distribu-tion the mean SQUARED! I.E the mean is 9, the variance is 9 and the sd is 3
means more variance and a wider bell curve (normal)
7. higher
standard
deviation Z value- steps to get to Q* from the mean
stepping out from the mean measured in SD formula
8. Z-Value of this is one way to standardize measure across ditterent models
Nor-mal
Distribution
1/
9
, OSC 5620 Exam 1 with all Correct & 100% Verified
Answers |Latest Version |Already Graded A+
9. dealing with ditterent properties of demand
2/
9
Answers |Latest Version |Already Graded A+
1. demand model A demand model enables us to deal with uncertainty by quantifying
specifies what demand outcomes are possible and the probability of
these out-comes (must have expected demand and uncertainty in
that demand)
2. precision is being measured by the SD of demand
often (but not
limited to)
3. three types of
normal, gamma and poisson
distributions
that are used
as de-mand
models
4. empirical built on historical data
distrib-utions
are
continuous distribution
5. normal two parameters : mean and sd
distribu-tion
discrete distribution: takes values, 0, 1, 2
6. poisson one parameter: mean which is also the variance BUT standard deviation is
distribu-tion the mean SQUARED! I.E the mean is 9, the variance is 9 and the sd is 3
means more variance and a wider bell curve (normal)
7. higher
standard
deviation Z value- steps to get to Q* from the mean
stepping out from the mean measured in SD formula
8. Z-Value of this is one way to standardize measure across ditterent models
Nor-mal
Distribution
1/
9
, OSC 5620 Exam 1 with all Correct & 100% Verified
Answers |Latest Version |Already Graded A+
9. dealing with ditterent properties of demand
2/
9
