Quantitative Techniques - 3

LIST OF ATTEMPTED QUESTIONS AND ANSWERS



Multiple Choice Single Answer
Question
A mixed strategy is decision of player to select :-
Correct Answer
Different strategies
Your Answer
Different strategies

Multiple Choice Single Answer
Question
How many different basic models are used to classify the decision theory on the basis of ability to predict the consequences of each alternative?
Correct Answer
Four
Your Answer
Four

Multiple Choice Multiple Answer
Question
How do the quantitative techniques help a decision maker in three ways?
Correct Answer
Aid decision making , Automate decision making and reduce it to a routine affair , Guide decision making
Your Answer
Aid decision making , Automate decision making and reduce it to a routine affair , Guide decision making

True/False
Question
A game in which algebraic sum of gains of both the players after the play is not zero is called two person non zero sum game.
Correct Answer
True
Your Answer
True

True/False
Question
To construct a pay off matrix the decision alternatives are placed column head wise.
Correct Answer
False
Your Answer
False

Multiple Choice Single Answer
Question
The simplex method though is an algebraic procedure but it is based on :-
Correct Answer
Geometrical Concept
Your Answer
Geometrical Concept

Multiple Choice Single Answer
Question
Which of the following is not a statistical technique?
Correct Answer
Critical path analysis
Your Answer
Critical path analysis

Multiple Choice Multiple Answer
Question
Rules concerning Objective Function are :-
Correct Answer
Must contain all variables in the constraints , Coefficient of slack variables are assumed to be zero , Coefficient of artificial variables are taken as -- M
Your Answer
Must contain all variables in the constraints , Negativity restrictions

True/False
Question
Risk represent the probability estimate of nonoccurrence of each outcome.
Correct Answer
False
Your Answer
True

Match The Following
Question
Correct Answer
Your Answer
Intersecting element is
The element at the intersection of other than key key row & key column
The element at the intersection of other than key key row & key column
Key Column is
The column with the largest negative index number
The column with the largest negative index number
Key row is
The row with the smallest of the replacement ratios of the constraint rows
The row with the smallest of the replacement ratios of the constraint rows
Key element is
The element at the intersection of key row & key column
The element at the intersection of key row & key column

Multiple Choice Multiple Answer
Question
Constraints in traveling salesman problem are :-
Correct Answer
Salesman should not visit the city twice. , No assignment can be made along diagonal.
Your Answer
Salesman should not visit the city twice. , No assignment can be made along diagonal.

Select The Blank
Question
The ________ is a method for deciding how to meet some desired objective which may be profit maximisation or cost minimization, subject to constraints on the amounts of commodities required or resources available.
Correct Answer
Linear programming
Your Answer
Linear programming

Select The Blank
Question
Smallest replacement ratios row of the constraint rows is ________.
Correct Answer
Key row
Your Answer
Key row

Multiple Choice Multiple Answer
Question
Terms related to NCWM, VAM & LCM are :-
Correct Answer
Allocation of units , Upper left hand corner , High Penalty cost
Your Answer
Allocation of units , Upper left hand corner , High Penalty cost

Multiple Choice Single Answer
Question
Which technique replaces the age old intuitive and subjective approach of decision making by an analytical and an objective approach?
Correct Answer
Quantitative technique
Your Answer
Quantitative technique

Select The Blank
Question
LP is one of the most popular techniques of ________.
Correct Answer
Operation Research
Your Answer
Operation Research

Multiple Choice Single Answer
Question
The variables with positive non-zero values are called :-
Correct Answer
Basic Variables
Your Answer
Basic Variables

Select The Blank
Question
Managerial decisions can be classified on basis of frequency of occurrence of problem as basic decisions and ________.
Correct Answer
Routine decisions
Your Answer
Routine decisions

Multiple Choice Multiple Answer
Question
Terms relating to LP are :-
Correct Answer
Constraints , Objective Function , Non-Negativity Condition
Your Answer
Constraints , Objective Function , Non-Negativity Condition

Multiple Choice Single Answer
Question
Expected gain to a player I he and his opponent use their best strategies is known as :-
Correct Answer
Value of game
Your Answer
Value of game

Multiple Choice Multiple Answer
Question
Terminologies of simplex method are :-
Correct Answer
Key Row , Key Column , Key Element
Your Answer
Key Row , Key Column , Key Element

Select The Blank
Question
The ________ is concerned with situations of conflicts between two or more opposed sets of interests to devise optimum strategies prior to commencement of action.
Correct Answer
Games theory
Your Answer
Games theory

True/False
Question
Quantitative techniques are usually associated with high costs.
Correct Answer
True
Your Answer
True

Multiple Choice Single Answer
Question
Last Step of Graphical Method of LP is :-
Correct Answer
Calculate the total profit / loss
Your Answer
Calculate the total profit / loss

True/False
Question
Mechanistic decisions involve problems with limited number of decision variables.
Correct Answer
True
Your Answer
True

Multiple Choice Multiple Answer
Question
Terms related to VAM are :-
Correct Answer
Initial feasible solution , High Penalty cost , High cost cells
Your Answer
Initial feasible solution , High Penalty cost , High cost cells

Multiple Choice Multiple Answer
Question
Study of Process Capability is not related to :-
Correct Answer
Reliability Engineering , Statistical Process Control , Correlation & Regression Analysis
Your Answer
Reliability Engineering , Correlation & Regression Analysis , Probability Theory

Multiple Choice Multiple Answer
Question
Queue Characteristics are :-
Correct Answer
Input distribution , Output distribution , Service discipline
Your Answer
Service discipline , Single queue: Multiple server (Series)

Multiple Choice Single Answer
Question
A customer may keep on switching from one Queue to another due to more service counters. This tendency is called :-
Correct Answer
Jockeying
Your Answer
Jockeying

True/False
Question
A two person game offering 2 strategies to each player is called 2x2 game.
Correct Answer
True
Your Answer
True

Multiple Choice Multiple Answer
Question
Elements of Queuing System are :-
Correct Answer
Single Server , Multiple Servers (Series) , Multiple Servers (Parallel)
Your Answer
Single Server , Multiple Servers (Series) , Multiple Servers (Parallel)

Select The Blank
Question
The ________ are those in which the outcome of the first decision affects the desirability of the choices at the next decision.
Correct Answer
Multi stage decisions
Your Answer
Multi stage decisions

Multiple Choice Single Answer
Question
Graphical method is restricted to :-
Correct Answer
Two Variables
Your Answer
Two Variables

True/False
Question
Check for improvement potential is a procedural step for MODI method.
Correct Answer
True
Your Answer
True

Select The Blank
Question
A game in which gain of person is loss of the other player is called ________ game.
Correct Answer
Zero sum
Your Answer
Zero sum

Select The Blank
Question
A ________ is an aid to decision making under risk, especially in a situation where the decision maker must make a sequence of decisions.
Correct Answer
Decision tree
Your Answer
Payoff matrix

Multiple Choice Single Answer
Question
Maximum element among the minimum elements selected for each raw is called :-
Correct Answer
Maximum
Your Answer
Maximum

True/False
Question
Quantitative techniques consider tangible as well as intangible factors.
Correct Answer
False
Your Answer
False

Select The Blank
Question
Minimax value sets ________ limit on game.
Correct Answer
Upper
Your Answer
Upper

Select The Blank
Question
The ________ aims to achieve orderly flow of batches of a product at a sequence of unconnected work.
Correct Answer
Line of balance
Your Answer
Line of balance

Multiple Choice Single Answer
Question
Balanced Transportation Problem is :-
Correct Answer
Supply points equals total demand
Your Answer
Supply points equals total demand

Match The Following
Question
Correct Answer
Your Answer
Procedure of allocating units to cost
Least Cost Method
Least Cost Method
Extra row or column in a tableau
Dummy source or Destination
Dummy source or Destination
Satisfies supply & demand conditions
An Initial Feasible Solution
An Initial Feasible Solution
Procedure of allocating units to cells
North West Corner Method
North West Corner Method

True/False
Question
By application of dominance rule final solution is affected.
Correct Answer
False
Your Answer
False

Multiple Choice Single Answer
Question
A customer may join the Queue, wait upto certain time & then leave the Queue without getting service. This action is called :-
Correct Answer
Reneging
Your Answer
Reneging

True/False
Question
Infeasibility is the condition in which the Linear Programming problem permits no feasible combination of the decision variables.
Correct Answer
True
Your Answer
True

True/False
Question
There is one queue & one server in the service facility is Single Queue: Single Server.
Correct Answer
True
Your Answer
True

Select The Blank
Question
________ is the last step of Graphical Method of LP.
Correct Answer
Calculate the total profit / loss
Your Answer
Calculate the total profit / loss