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    Programme: MBA Course: Quantitative Methods Individual Assignment Due Date: 15 October 2019 Answer All Questions

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    Albertx Munyanyi
    The document outlines an individual assignment for a Quantitative Methods course due on October 15, 2019. It includes two questions, the first asking students to define queueing systems and key terms, and the second asking them to explain how various analytical tools can help management decision making. It also outlines a group assignment for the same course, due on the same date, involving two queueing problems - determining if hiring additional stores staff would be worthwhile, and calculating optimal order quantities for two companies to minimize inventory costs.

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    Programme: MBA Course: Quantitative Methods Individual Assignment Due Date: 15 October 2019 Answer All Questions

    Uploaded by

    Albertx Munyanyi
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    The document outlines an individual assignment for a Quantitative Methods course due on October 15, 2019. It includes two questions, the first asking students to define queueing systems and key terms, and the second asking them to explain how various analytical tools can help management decision making. It also outlines a group assignment for the same course, due on the same date, involving two queueing problems - determining if hiring additional stores staff would be worthwhile, and calculating optimal order quantities for two companies to minimize inventory costs.

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    MBA Quantitative Methods Assigments

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    The document outlines an individual assignment for a Quantitative Methods course due on October 15, 2019. It includes two questions, the first asking students to define queueing systems and key terms, and the second asking them to explain how various analytical tools can help management decision making. It also outlines a group assignment for the same course, due on the same date, involving two queueing problems - determining if hiring additional stores staff would be worthwhile, and calculating optimal order quantities for two companies to minimize inventory costs.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    10 views2 pages

    Programme: MBA Course: Quantitative Methods Individual Assignment Due Date: 15 October 2019 Answer All Questions

    Uploaded by

    Albertx Munyanyi
    The document outlines an individual assignment for a Quantitative Methods course due on October 15, 2019. It includes two questions, the first asking students to define queueing systems and key terms, and the second asking them to explain how various analytical tools can help management decision making. It also outlines a group assignment for the same course, due on the same date, involving two queueing problems - determining if hiring additional stores staff would be worthwhile, and calculating optimal order quantities for two companies to minimize inventory costs.

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    PROGRAMME: MBA

    COURSE: QUANTITATIVE METHODS

    INDIVIDUAL ASSIGNMENT

    DUE DATE: 15 October 2019

    Answer all Questions

    1. a) Define a Queue.
    b) What are the elements of a queueing system?
    c) What is the usual assumption regarding arrival rates?
    d) What are the symbols most commonly used for arrival rates and service rates? [25 marks]

    2. How does the following assist management in making a sound and pronounced decision
    making?
    a) Decision trees.
    b) Breakeven point analysis.
    c) Inventory management and control.
    d) Focusing [25 marks]
    COURSE: QUANTITATIVE METHODS

    GROUP ASSIGNMENT

    DUE DATE: 15 October 2019

    Answer all Questions

    1) In a large maintenance department, fitters draw parts from the Parts Store which is at

    present staffed by storeman. The maintenance foreman is concerned about the time spent

    by fitters getting parts and wants to know if the employment of a stores labourer would be

    worthwhile. On investigation it is found

    a) A simple queue exists.

    b) Fitters cost $6.50 per hour.

    c) The storeman costs $5 per hour and can deal, on average, with 10 staff per hour.

    d) A stores labourer could be employed at $3 per hour and would increase the capacity of the

    stores to 12 per hour.

    e) On average 8 fitters visit the store each hour. [25 marks]

    2) a) The company's cost per each order is $20.00 and the carrying cost per unit per year is $100.00.

    The annual demand per year is 365 units or items. Find this company's economic order

    quantity.

    b) Zuda company which sells roofing sheet to different customers wants to reduce its inventory

    cost by determining the optimal number of roofing sheets to stock per order. The annual

    demand is 1 000 units and the ordering cost is $30 per order and the average carrying cost per

    unit per year is $0.50. Calculate the optimal number of units per order and the total inventory

    cost. [25 marks]

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