Study Guide Final exam
Quantitative Business Analysis, BUS440A
Spring 2018, Carnell Borden
General Comments
The final will cover two of four areas covered this term. Below is a synopsis of what you should know to maximize your success for the assessment.
To prepare for the final exam, pay attention to the information below AND:
1. Attend the final few classes and participate in the preparatory exercises
2. Make sure your notes are complete
3. Study your notes, PowerPoint presentations, and the Self-Test homework problems referenced below
4. Ask questions and/or redo homework assignments to establish your comprehension of the material upon which you’ll be tested
Note: You are NOT allowed to bring your notes to the exam. However, worksheet templates are provided.
Discrete Probability Distribution (Chapter 3)
You should be able to develop a tabular representation of a probability distribution. Accordingly, you should also be able to provide the Expected Value, Variance, and Standard Deviation values. Review Chapter 3 (see homework assignment Self-Test Problem 6).
Time Series Analysis and Forecasting (Chapter 6)
You should be able to develop a Time Series model using one of 4 forecasting models: naïve, moving average, weighted moving average, and exponential smoothing. Additionally, you should know the various error calculation methods, and be able to determine the most accurate forecasting model for a given application. Review Chapter 6.
Linear Programming (Chapters 7-9)
You should be able to enable and use Solver in Excel to resolve a maximization problem. You should know how to identify constraints as well as understand the concepts of an objective function, and binding versus non-binding constraints. Review Chapter 8.
Inventory Models (Chapter 14)
You should be able to develop the Economic Order Quantity model (EOQ). This will require you to be able to understand how to apply assumptions in a given scenario to the model. Review Chapter 14.
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