Operations Advanced Quiz 1

1. The mathematical distribution most commonly used to model the number of arrivals in a queuing system.

2. The variable in Little’s Law ($L = \lambda W$) that represents the average time spent in the system.

3. The concept in the Theory of Constraints that specifically deals with buffering the bottleneck against variability.

4. The model in inventory management that focuses on balancing the cost of understocking and overstocking.

5. The metric used to quantify potential financial loss due to supply chain disruption.

6. The scheduling heuristic often used to minimize the maximum lateness in a job shop environment.

7. The coefficient $Var(O) / Var(D)$ typically used to measure the amplification of demand variability.

8. The mathematical implication in Lean manufacturing when setup time is reduced to near zero.

9. The simulation approach that models a system as a series of events occurring at specific points in time.

10. The curve that evaluates the probability of accepting a lot of a certain quality level in acceptance sampling.