Cost of Living Assignment – for 1 quarter (11 weeks) About 80% of the world lives on less than per day and about 50% lives on less than

Cost Of Living Assignment For 1 Quarter 11 Weeks About 80 Of The

Cost of Living Assignment – for 1 quarter (11 weeks) About 80% of the world lives on less than $10 per day and about 50% lives on less than $2 a day. Where do you fit in? · How much do you as a “poor†student live on? · Make a list (itemize) of all your expenses – tuition, books, housing, food, car, travel, phone, entertainment etc. You may round up or down, I am not looking for information to the last cent. (this list should include whatever you spend money on – or others spend – parents, government etc – to cover your cost of living and attending college) · Total and divide by 77 days (11 weeks) to figure out how much you live on each day. · Write a paragraph explaining what you found out and what you “learned†about your situation. (do you earn more than you spend?) How do you compare with the rest of the world? · It does not matter who pays your bills, include everything (loans, financial aid, anything anyone gives you to live and pay for going to school) .

Your final number per day should include all of this. Don’t tell me that you live on $10.00 per day because you have financial aid or your parents pay for everything. The point of this is to find out what it ACTUALLY costs to live and get an education. What funds do you have access to in order to live and go to school? · Worth 20 points and due MONDAY APRIL 13TH - no late assignments accepted. · Must be typed . Can be outlined as below, or you could create a table to itemize.

I expect you to do a good job on this assignment. If it looks like you threw something together at the last minute and did not put much thought into this then I will NOT give you full credit. Example: Rent – $415.00 per month or $1,245 per quarter. (this includes utilities and internet) If it does not include utilities then itemize them too. ( this is just a guess – I have no idea what your costs are). Gas and Car expenses – I drive home to Seattle twice a quarter $80.00, I use about 2 more tanks of gas during the quarter driving around locally $80.00 (total $160.00) I pay insurance on my car and maintenance $50.00 per quarter approximately Food – I buy food for home( $?), but I also eat out ($?) I have a spending account for food from campus($?) Tuition and fees (Include even if you have scholarships, awards, your government pays for it – whatever.

The point of this assignment is to see how much it costs to go through a quarter at Central – how much money you have access to.) Books Other school supplies? Entertainment? Clothing – Doctor/phone/gas – whatever miscellaneous items you think form part of your budget. If you live at home – state that and then do two estimates, one with just the items that are not covered by living at home and then one where you estimate your portion of the cost of housing and food while living at home (ie about 450 a month for “rent†and at least a couple of hundred for food). This will help you see what it “costs†to live and go to school.

Item Cost per quarter (about 11 weeks) Cost per WEEK Cost per day Rent (includes utilities) $1141.14 (this is just a guess) 103.74 per week $14.82 Tuition and Fees Some of you are out of state or country – your tuition will be more. ? ? Car/transportation (could include a flight home etc) ? ? Continue with whatever else you use money for (food, entertainment, clothes, personal supplies etc) Show totals for all items ie.$5,000 per quarter Whatever your total is. Divide $5,000 (or your amount by 11 weeks to get cost per week) Divide $5,000 (or your amount by 77 days days and get your cost of living per day You can set it up any way that works for you, but be sure to give me detail that shows that you really have included the items that your life “requires†You could use last quarter as your example since you might have a better idea of what you already spent, rather than what you might spend.

If this is your first quarter, figure out your costs as best as you can. I find that many students underestimate the cost of food. Some have a meal plan and then buy some additional food. Some live on Ramen Noodles and Peanut Butter. Try and clarify.

If you say you live on $50 per month for food I am going to be highly suspicious. Students often get tuition wrong – look up how much tuition is per quarter at Central. Remember if you are out of State it is more (so write out of State next to your cost so I know why it is higher). If you are an international student it is even more than that. Type the whole thing up and don’t forget a paragraph about what you “found out†about your situation as opposed to other people in the world.

You can round numbers – I want you to have a general idea of what it costs to go to school. It will probably surprise you. QSO 600 Exam Guidelines and Rubric The midterm exam and the final exam include five essay-type questions each in addition to the problem questions. For the essay questions, students are required to provide written responses using appropriate reference materials. You must provide answers and correctly use these with in-text citations and references/bibliography.

Complete the essay element of the examination in Word. The critical elements of this rubric will be used to grade the essay questions of the midterm and final exams. There are 5 questions worth 20 points each for a total possible score of 100 points. Each question is graded separately with the rubric below. The total points for each question is added together to arrive at the total score.

Requirements of Submission : Responses must follow these formatting guidelines: discipline-appropriate citations. Critical Elements Exemplary Proficient Needs Improvement Not Evident Value Comprehension of the Principles of Operations Management Accurately and logically applies the relevant operations management principles regarding process speed, speed, capacity, inventory, and quality in the presence of uncertainty; cites multiple varied examples to illustrate each principle (20) Accurately and logically applies the relevant operations management principles regarding process speed, speed, capacity, inventory, and quality in the presence of uncertainty; cites examples to illustrate each principle (18) Applies the relevant operations management principles regarding process speed, speed, capacity, inventory, and quality in the presence of uncertainty; however, key principles or examples to illustrate each are missing or inaccurate (14) Does not apply operations management principles relevant to the questions ( Awareness of Strategic Process Management Issues Answers integrate strategic process management issues and explain the significance to other functional areas of the organization using specific relevant examples (20) Answers integrate strategic process management issues and explain the significance to other functional areas of the organization (18) Answers integrate strategic process management issues but do not clearly describe the significance to other functional areas of the organization (14) Does not demonstrate awareness of strategic process management issues and their significance to other functional areas of the organization ( Application of Tools and Techniques for Process Management Uses appropriate management tools and techniques to evaluate and provide a comprehensive response, addressing process management aspects of the questions (20) Uses appropriate management tools and techniques to evaluate and respond to the process management aspects of the questions (18) Uses management tools and techniques to evaluate and respond to the process management aspects of the questions; however, some are missing or applied incorrectly (14) Does not use appropriate management tools and techniques to evaluate and respond to the process management aspects of the questions ( Analytical and Creative Thinking Implements an analytical, creative strategy to answer open-ended operations management questions and uses supporting examples to substantiate thinking (20) Implements an analytical, creative strategy to answer open-ended operations management questions (18) Implements an analytical strategy to answer open-ended operations management questions; however, analysis is incomplete or flawed (14) Does not implement an analytical, creative strategy to answer open-ended operations management questions ( Articulation of Response Submission is free of errors related to citations, grammar, spelling, syntax, and organization and is presented in a professional and easy to read format (20) Submission has no major errors related to citations, grammar, spelling, syntax, or organization (18) Submission has major errors related to citations, grammar, spelling, syntax, or organization that negatively impact readability and articulation of main ideas (14) Submission has critical errors related to citations, grammar, spelling, syntax, or organization that prevent understanding of ideas ( Earned Total Comments: 100% Final Exam Operations Management QSO 600 Operations Management The final exam consists of five essay and five problem questions.

Answer all the questions. Essay Questions: There is no set length for answers; students may be as verbose or brief as they feel necessary to cover the question. Use this same exam document for your answers, placing them below each question. This portion of the exam is worth 100 points Problem Questions: Make sure to show all your work to get full credit. The instructor needs to know the formulas and calculations you used to get to your final answer.

You can do part of the exam in Excel and Paste your Excel work into this document. This portion of the exam is worth 50 points. File Convention: File name for the exam attachment to be studentlastname-finalexam (Be sure there are no spaces) Be sure to put your name on the exam paper. Note: You may use the text and any other materials. You are NOT to work with anyone else including other students in completing the exam nor discuss it with them.

QSO 600 Final Exam Essay Questions Question 1: What is operations management? Why is it important? Is a good knowledge of operations management more important in service or manufacturing industries? Explain your answer. Question 2: Discuss the use of PERT/CPM techniques for managing projects.

Describe what PERT/CPM does. Discuss advantages and disadvantages of using it. What other techniques might you choose to manage your project? Question 3: What are economies of scale in a manufacturing plant? Do they continue forever?

What are diseconomies of scale? How might you decide the optimal size of a plant? Question 4: What, in your opinion, are the three most important issues in supply chain management? Discuss why you think these are the key issues. Question 5: Discuss why (or if) inventories are necessary.

What are the benefits of inventories? What are the disadvantages of holding inventories? QSO 600 Final Exam Problem Questions Problem 1 . Arsenal Electronics is going to construct a new $1.2 billion semiconductor plant and has selected four towns in the Midwest as potential sites. The important location factors and ratings for each town are as follows: Scores (0 to 100) Location Factor Weight Abbeton Bayside Cane Creek Dunnville Work ethics 0.

Quality of life 0. Labor laws/unionization 0. Infrastructure 0. Education 0. Labor skill and education 0.

Cost of living 0. Taxes 0. Incentive package 0. Government regulations 0. Environmental regulations 0.

Transportation 0. Space for expansion 0. Urban proximity 0. Recommend a site based on these location factors and ratings. Answer 1: Problem 2 .

Sawyer Furniture is one of the few remaining domestic manufacturers of wood furniture. In the current competitive environment, cost containment is the key to its continued survival. Demand for furniture follows a seasonal demand pattern with increased sales in the summer and fall months, culminating with peak demand in November. The cost of production is $16 per unit for regular production, $24 for overtime, and $33 for subcontracting. Hiring and firing costs are $500 per worker.

Inventory holding costs are $20 per unit per month. There is no beginning inventory. Ten workers are currently employed. Each worker can produce 50 pieces of furniture per month. Overtime cannot exceed regular production.

Given the following demand data, use Excel Solver to design an aggregate production plan for Sawyer Furniture that will meet demand at the lowest possible cost. Input: Beg. Wkrs 10 Regular $16 Hiring $500 Units/wkr 50 Overtime $24 Firing $500 Beg. Inv. 0 Subk $33 Inventory $20 Month Demand Reg OT Subk Inv #Wkrs #Hired #Fired Jan Feb Mar , Apr , May ,, Jun Jul Aug , Sep , Oct , Nov ,, Dec Total 17,,, Answer 2: Problem 3 .

Complete the following MRP matrix for Item X. Determine when orders should be released and the size of those orders. Item: X LLC: 0 Period Lot Size: Min 50 LT: Gross Requirements Scheduled Receipts 50 Projected on Hand 30 Net Requirements Planned Order Receipts Planned Order Releases Release orders in periods 1 through 5 for quantities of 50, 50, 56, 50, and 50 respectively. Answer 3: Problem 4 . Fibrous Incorporated makes products from rough tree fibers.

Its product line consists of five items processed through one of five machines. The machines are not identical, and some products are better suited to some machines. Given the following production time in minutes per unit, determine an optimal assignment of product to machine: Machine Product A B C D E       Answer 4: Problem 5 . The following probabilistic activity time estimates are for a CPM/PERT network. Time Estimates (days) Time Estimates (days) Activity a m b Activity a m b  6  .  5         Determine the following: a.

Expected activity times b. Earliest start and finish times c. Latest start and finish times d. Activity Slack e. Critical Path Expected Project duration and standard deviation. Answer 5:

a day. Where do you fit in? · How much do you as a “poor†student live on? · Make a list (itemize) of all your expenses – tuition, books, housing, food, car, travel, phone, entertainment etc. You may round up or down, I am not looking for information to the last cent. (this list should include whatever you spend money on – or others spend – parents, government etc – to cover your cost of living and attending college) · Total and divide by 77 days (11 weeks) to figure out how much you live on each day. · Write a paragraph explaining what you found out and what you “learned†about your situation. (do you earn more than you spend?) How do you compare with the rest of the world? · It does not matter who pays your bills, include everything (loans, financial aid, anything anyone gives you to live and pay for going to school) .

Your final number per day should include all of this. Don’t tell me that you live on .00 per day because you have financial aid or your parents pay for everything. The point of this is to find out what it ACTUALLY costs to live and get an education. What funds do you have access to in order to live and go to school? · Worth 20 points and due MONDAY APRIL 13TH - no late assignments accepted. · Must be typed . Can be outlined as below, or you could create a table to itemize.

I expect you to do a good job on this assignment. If it looks like you threw something together at the last minute and did not put much thought into this then I will NOT give you full credit. Example: Rent – 5.00 per month or ,245 per quarter. (this includes utilities and internet) If it does not include utilities then itemize them too. ( this is just a guess – I have no idea what your costs are). Gas and Car expenses – I drive home to Seattle twice a quarter .00, I use about 2 more tanks of gas during the quarter driving around locally .00 (total 0.00) I pay insurance on my car and maintenance .00 per quarter approximately Food – I buy food for home( $?), but I also eat out ($?) I have a spending account for food from campus($?) Tuition and fees (Include even if you have scholarships, awards, your government pays for it – whatever.

The point of this assignment is to see how much it costs to go through a quarter at Central – how much money you have access to.) Books Other school supplies? Entertainment? Clothing – Doctor/phone/gas – whatever miscellaneous items you think form part of your budget. If you live at home – state that and then do two estimates, one with just the items that are not covered by living at home and then one where you estimate your portion of the cost of housing and food while living at home (ie about 450 a month for “rent†and at least a couple of hundred for food). This will help you see what it “costs†to live and go to school.

Item Cost per quarter (about 11 weeks) Cost per WEEK Cost per day Rent (includes utilities) 41.14 (this is just a guess) 103.74 per week .82 Tuition and Fees Some of you are out of state or country – your tuition will be more. ? ? Car/transportation (could include a flight home etc) ? ? Continue with whatever else you use money for (food, entertainment, clothes, personal supplies etc) Show totals for all items ie.,000 per quarter Whatever your total is. Divide ,000 (or your amount by 11 weeks to get cost per week) Divide ,000 (or your amount by 77 days days and get your cost of living per day You can set it up any way that works for you, but be sure to give me detail that shows that you really have included the items that your life “requires†You could use last quarter as your example since you might have a better idea of what you already spent, rather than what you might spend.

If this is your first quarter, figure out your costs as best as you can. I find that many students underestimate the cost of food. Some have a meal plan and then buy some additional food. Some live on Ramen Noodles and Peanut Butter. Try and clarify.

If you say you live on per month for food I am going to be highly suspicious. Students often get tuition wrong – look up how much tuition is per quarter at Central. Remember if you are out of State it is more (so write out of State next to your cost so I know why it is higher). If you are an international student it is even more than that. Type the whole thing up and don’t forget a paragraph about what you “found out†about your situation as opposed to other people in the world.

You can round numbers – I want you to have a general idea of what it costs to go to school. It will probably surprise you. QSO 600 Exam Guidelines and Rubric The midterm exam and the final exam include five essay-type questions each in addition to the problem questions. For the essay questions, students are required to provide written responses using appropriate reference materials. You must provide answers and correctly use these with in-text citations and references/bibliography.

Complete the essay element of the examination in Word. The critical elements of this rubric will be used to grade the essay questions of the midterm and final exams. There are 5 questions worth 20 points each for a total possible score of 100 points. Each question is graded separately with the rubric below. The total points for each question is added together to arrive at the total score.

Requirements of Submission : Responses must follow these formatting guidelines: discipline-appropriate citations. Critical Elements Exemplary Proficient Needs Improvement Not Evident Value Comprehension of the Principles of Operations Management Accurately and logically applies the relevant operations management principles regarding process speed, speed, capacity, inventory, and quality in the presence of uncertainty; cites multiple varied examples to illustrate each principle (20) Accurately and logically applies the relevant operations management principles regarding process speed, speed, capacity, inventory, and quality in the presence of uncertainty; cites examples to illustrate each principle (18) Applies the relevant operations management principles regarding process speed, speed, capacity, inventory, and quality in the presence of uncertainty; however, key principles or examples to illustrate each are missing or inaccurate (14) Does not apply operations management principles relevant to the questions ( Awareness of Strategic Process Management Issues Answers integrate strategic process management issues and explain the significance to other functional areas of the organization using specific relevant examples (20) Answers integrate strategic process management issues and explain the significance to other functional areas of the organization (18) Answers integrate strategic process management issues but do not clearly describe the significance to other functional areas of the organization (14) Does not demonstrate awareness of strategic process management issues and their significance to other functional areas of the organization ( Application of Tools and Techniques for Process Management Uses appropriate management tools and techniques to evaluate and provide a comprehensive response, addressing process management aspects of the questions (20) Uses appropriate management tools and techniques to evaluate and respond to the process management aspects of the questions (18) Uses management tools and techniques to evaluate and respond to the process management aspects of the questions; however, some are missing or applied incorrectly (14) Does not use appropriate management tools and techniques to evaluate and respond to the process management aspects of the questions ( Analytical and Creative Thinking Implements an analytical, creative strategy to answer open-ended operations management questions and uses supporting examples to substantiate thinking (20) Implements an analytical, creative strategy to answer open-ended operations management questions (18) Implements an analytical strategy to answer open-ended operations management questions; however, analysis is incomplete or flawed (14) Does not implement an analytical, creative strategy to answer open-ended operations management questions ( Articulation of Response Submission is free of errors related to citations, grammar, spelling, syntax, and organization and is presented in a professional and easy to read format (20) Submission has no major errors related to citations, grammar, spelling, syntax, or organization (18) Submission has major errors related to citations, grammar, spelling, syntax, or organization that negatively impact readability and articulation of main ideas (14) Submission has critical errors related to citations, grammar, spelling, syntax, or organization that prevent understanding of ideas ( Earned Total Comments: 100% Final Exam Operations Management QSO 600 Operations Management The final exam consists of five essay and five problem questions.

Answer all the questions. Essay Questions: There is no set length for answers; students may be as verbose or brief as they feel necessary to cover the question. Use this same exam document for your answers, placing them below each question. This portion of the exam is worth 100 points Problem Questions: Make sure to show all your work to get full credit. The instructor needs to know the formulas and calculations you used to get to your final answer.

You can do part of the exam in Excel and Paste your Excel work into this document. This portion of the exam is worth 50 points. File Convention: File name for the exam attachment to be studentlastname-finalexam (Be sure there are no spaces) Be sure to put your name on the exam paper. Note: You may use the text and any other materials. You are NOT to work with anyone else including other students in completing the exam nor discuss it with them.

QSO 600 Final Exam Essay Questions Question 1: What is operations management? Why is it important? Is a good knowledge of operations management more important in service or manufacturing industries? Explain your answer. Question 2: Discuss the use of PERT/CPM techniques for managing projects.

Describe what PERT/CPM does. Discuss advantages and disadvantages of using it. What other techniques might you choose to manage your project? Question 3: What are economies of scale in a manufacturing plant? Do they continue forever?

What are diseconomies of scale? How might you decide the optimal size of a plant? Question 4: What, in your opinion, are the three most important issues in supply chain management? Discuss why you think these are the key issues. Question 5: Discuss why (or if) inventories are necessary.

What are the benefits of inventories? What are the disadvantages of holding inventories? QSO 600 Final Exam Problem Questions Problem 1 . Arsenal Electronics is going to construct a new .2 billion semiconductor plant and has selected four towns in the Midwest as potential sites. The important location factors and ratings for each town are as follows: Scores (0 to 100) Location Factor Weight Abbeton Bayside Cane Creek Dunnville Work ethics 0.

Quality of life 0. Labor laws/unionization 0. Infrastructure 0. Education 0. Labor skill and education 0.

Cost of living 0. Taxes 0. Incentive package 0. Government regulations 0. Environmental regulations 0.

Transportation 0. Space for expansion 0. Urban proximity 0. Recommend a site based on these location factors and ratings. Answer 1: Problem 2 .

Sawyer Furniture is one of the few remaining domestic manufacturers of wood furniture. In the current competitive environment, cost containment is the key to its continued survival. Demand for furniture follows a seasonal demand pattern with increased sales in the summer and fall months, culminating with peak demand in November. The cost of production is per unit for regular production, for overtime, and for subcontracting. Hiring and firing costs are 0 per worker.

Inventory holding costs are per unit per month. There is no beginning inventory. Ten workers are currently employed. Each worker can produce 50 pieces of furniture per month. Overtime cannot exceed regular production.

Given the following demand data, use Excel Solver to design an aggregate production plan for Sawyer Furniture that will meet demand at the lowest possible cost. Input: Beg. Wkrs 10 Regular Hiring 0 Units/wkr 50 Overtime Firing 0 Beg. Inv. 0 Subk Inventory Month Demand Reg OT Subk Inv #Wkrs #Hired #Fired Jan Feb Mar , Apr , May ,, Jun Jul Aug , Sep , Oct , Nov ,, Dec Total 17,,, Answer 2: Problem 3 .

Complete the following MRP matrix for Item X. Determine when orders should be released and the size of those orders. Item: X LLC: 0 Period Lot Size: Min 50 LT: Gross Requirements Scheduled Receipts 50 Projected on Hand 30 Net Requirements Planned Order Receipts Planned Order Releases Release orders in periods 1 through 5 for quantities of 50, 50, 56, 50, and 50 respectively. Answer 3: Problem 4 . Fibrous Incorporated makes products from rough tree fibers.

Its product line consists of five items processed through one of five machines. The machines are not identical, and some products are better suited to some machines. Given the following production time in minutes per unit, determine an optimal assignment of product to machine: Machine Product A B C D E       Answer 4: Problem 5 . The following probabilistic activity time estimates are for a CPM/PERT network. Time Estimates (days) Time Estimates (days) Activity a m b Activity a m b  6  .  5         Determine the following: a.

Expected activity times b. Earliest start and finish times c. Latest start and finish times d. Activity Slack e. Critical Path Expected Project duration and standard deviation. Answer 5:

Paper for above instructions

Cost of Living Assignment

Introduction

Understanding the cost of living is essential for assessing financial stability, especially for students who might often navigate limited budgets. This assignment analyzes my personal living expenses over the course of an academic quarter (11 weeks) and compares these costs with global living standards, particularly in the context of the staggering statistic that approximately 80% of the world’s population survives on less than a day (World Bank, 2023). Below is a detailed itemization of my expenses, calculations of my daily living costs, and insights on what I learned about my financial situation.

Itemized List of Expenses

The following table outlines my expenses over one quarter, including tuition, housing, food, transportation, and miscellaneous costs:
| Item | Cost Per Quarter | Cost Per Week | Cost Per Day |
|---------------------------|-----------------------|---------------------|-------------------|
| Rent (includes utilities) | ,200 | 9.09 | .79 |
| Tuition and Fees |