B D A C E F H G 1. Identify the three major functional areas of business organizations and briefly describe how they interrelate. 6 pts. 2. List five important differences between goods production and service operations. 5 pts. 1 2 3 4 5 6 7 8 9 10 11 12 3. Explain the term time-based strategies and give three examples. 6 pts. 4. Under what circumstances is expected monetary value appropriate as a decision criterion? When is not it appropriate? 5 pts. 13 5. Why is capacity planning one of the most critical decisions an operations manager has to make? How can simulation models help in making better decisions about capacity? 6 pts. 14 15