LIST OF ATTEMPTED QUESTIONS AND ANSWERS

Select The Blank

Question

LP decide on product quantities to maximize profit is ________.

Correct Answer

Product Mix Problems

Your Answer

Product Mix Problems

Multiple Choice Multiple Answer

Question

Which are the typical areas of application of forecasting?

Correct Answer

Materials control , Loading and scheduling , Budgeting

Your Answer

Materials control , Loading and scheduling , Budgeting

Multiple Choice Single Answer

Question

Which of the following technique is used to deal with the decision making under certainty?

Correct Answer

Assignment model

Your Answer

Assignment model

Multiple Choice Single Answer

Question

Selection of random samples from a tot & inspection of the same is called :-

Correct Answer

Acceptance Sampling

Your Answer

Acceptance Sampling

True/False

Question

Graphical method is restricted to two variables.

Correct Answer

True

Your Answer

True

Multiple Choice Multiple Answer

Question

Words related to LCM are :-

Correct Answer

Least , Method , Cost

Your Answer

Least , Method , Cost

Select The Blank

Question

In a maximization problem when each element is subtracted from largest element, the resultant matrix indicates ________.

Correct Answer

Opportunity loss

Your Answer

Reduced matrix

Multiple Choice Multiple Answer

Question

Transportation Tableau is a Data on :-

Correct Answer

Demand , Capacity , Unit Shipping Cost

Your Answer

Demand , Capacity , Unit Shipping Cost

True/False

Question

Compute row & column values for stone squares is step for MODI method.

Correct Answer

True

Your Answer

True

Select The Blank

Question

________ is called Stepping Stone Method.

Correct Answer

Unoccupied cells to achieve solution

Your Answer

Water cells to achieve solution

Select The Blank

Question

Finding out the quantity of components to be used at ________.

Correct Answer

Minimum Cost

Your Answer

Minimum Cost

Multiple Choice Multiple Answer

Question

What is the application of quantitative techniques in maintenance management?

Correct Answer

To decide optimum stocking policies of spares , Predict useful life of parts , To decide optimum replacement policy of parts

Your Answer

To decide optimum stocking policies of spares , Predict useful life of parts , To decide optimum replacement policy of parts

Select The Blank

Question

Identify decision variables is ________ step of Graphical Method.

Correct Answer

First

Your Answer

First

Select The Blank

Question

Definition of Dummy source is ________.

Correct Answer

Extra row or column in tableau, with zero cost in each of its cells, used to balance an unbalanced problem

Your Answer

Extra row or column in tableau, with zero cost in each of its cells, used to balance an unbalanced problem

Multiple Choice Single Answer

Question

A row in the simplex table which contains the co-efficient of the variables in the objective function is :-

Correct Answer

Cj row

Your Answer

Cj row

Multiple Choice Multiple Answer

Question

Special cases on simplex method are :-

Correct Answer

Multiple Optimal Solution , Unbounded Solution , Infeasible Solution

Your Answer

Multiple Optimal Solution , Unbounded Solution , Infeasible Solution

Match The Following

Question

Correct Answer

Your Answer

Multiply each element of maximization problem by.

-1

-1

When number of lines covering all zeros equals no of rows/columns, number of optimal solutions are.

1

Number of rows.

Cost at prohibited assignments

¥

¥

Cost of dummy row/column.

0

0

Multiple Choice Multiple Answer

Question

Which are applications of quantitative techniques in financial management?

Correct Answer

To develop capital investment plans , Interpretation of financial statements , To determine optimum equipment replacement policies

Your Answer

Interpretation of financial statements , To determine optimum equipment replacement policies , To develop capital investment plans

True/False

Question

After application dominance rule the game is of size 2x3, it is solved by sub-game method.

Correct Answer

True

Your Answer

False

True/False

Question

Under Single Queue, Multiple Servers (Series), there is one queue but several servers in the service facility.

Correct Answer

True

Your Answer

True

Multiple Choice Single Answer

Question

Vogel's Approximation Method (VAM) is :-

Correct Answer

A systematic procedure to obtain an initial feasible solution based on avoidance of high penalty & cost cell

Your Answer

A systematic procedure to obtain an initial feasible solution based on avoidance of high penalty & cost cell

Match The Following

Question

Correct Answer

Your Answer

Feasible Region

Defined by Constraints

Defined by Constraints

Constraint

Upper or Lower Limit

Upper or Lower Limit

Graph

Straight Line

Straight Line

Half Space

Same Side of Line

Same Side of Line

True/False

Question

Constraint that does not affect the feasible solution is Redundant.

Correct Answer

True

Your Answer

True

Multiple Choice Multiple Answer

Question

Which are the typical areas of application of probability theory?

Correct Answer

Market research , Inventory control , Price movements

Your Answer

Market research , Inventory control , Price movements

Select The Blank

Question

Representation of Mean Time between consecutive arrivals is done by ________.

Correct Answer

Inverse of Lambda

Your Answer

Inverse of Lambda

Multiple Choice Single Answer

Question

What is MODI Method?

Correct Answer

A systematic procedure for evaluating unoccupied (water) cells to achieve an optimal solution

Your Answer

A systematic procedure for evaluating unoccupied (water) cells to achieve an optimal solution

Multiple Choice Multiple Answer

Question

Which are different criterias used to classify the managerial decisions?

Correct Answer

Effect of decision on future course of action , Amount involved , Level at which decisions are taken

Your Answer

Effect of decision on future course of action , Amount involved , Level at which decisions are taken

True/False

Question

Each allocation assigned to a square is called stone.

Correct Answer

True

Your Answer

True

Multiple Choice Single Answer

Question

Which criteria is used to divide the managerial decisions into policy decisions and operating decisions?

Correct Answer

Level at which decisions are taken

Your Answer

Level at which decisions are taken

True/False

Question

Smallest element in each row is subtracted from each element in the column.

Correct Answer

False

Your Answer

False

Multiple Choice Single Answer

Question

Tabular arrangement of data on demand, capacity & per unit shipping costs between supply point to destination is :-

Correct Answer

Transportation Tableau

Your Answer

Transportation Tableau

Multiple Choice Multiple Answer

Question

Procedural steps in Transportation problem are :-

Correct Answer

Set up transportation tableau , Establish an initial solution , Examine initial solution for feasibility

Your Answer

Set up transportation tableau , Establish an initial solution , Examine initial solution for feasibility

True/False

Question

Effective improvement over the initial feasible solution is included in MODI.

Correct Answer

True

Your Answer

True

Multiple Choice Single Answer

Question

Saddle point occurs when :-

Correct Answer

Maximin = Minimax

Your Answer

Maximin = Minimax

Multiple Choice Multiple Answer

Question

Different Terms related to Simplex Method are :-

Correct Answer

Algorithm , Iteration , Slack variable

Your Answer

Algorithm , Iteration , Slack variable

Select The Blank

Question

Management Science & ORT provide computational techniques to select optimal solution is called as ________.

Correct Answer

Analytical Decisions

Your Answer

Analytical Decisions

Multiple Choice Single Answer

Question

A Graph is :-

Correct Answer

Two-variable-linear-equation is always a Straight Line

Your Answer

Two-variable-linear-equation is always a Straight Line

Multiple Choice Single Answer

Question

For a 4X4 assignment problem number of possible solutions are :-

Correct Answer

24

Your Answer

24

Multiple Choice Single Answer

Question

In VAM, M stands for :-

Correct Answer

Method

Your Answer

Method

True/False

Question

When number of zeros in final assignment matrix are more than required ones, the problem has alternative optimal solution.

Correct Answer

True

Your Answer

True

Multiple Choice Single Answer

Question

Alternative Optimal Solution is :-

Correct Answer

Point that gives same optimal value

Your Answer

Point that gives same optimal value

Multiple Choice Multiple Answer

Question

Queues are formed at :-

Correct Answer

Bus stand , Traffic lights , Telephone booths

Your Answer

Bus stand , Traffic lights , Telephone booths

Select The Blank

Question

Mathematical Model Construction from the given data is known as ________.

Correct Answer

Problem Formulation

Your Answer

Problem Formulation

Select The Blank

Question

Unbounded Solution is one which is ________.

Correct Answer

Permitted to be infinitely large

Your Answer

Permitted to be infinitely large

Select The Blank

Question

Team approach needs for optimal solution of ________ Decisions.

Correct Answer

Adaptive

Your Answer

Adaptive

Multiple Choice Multiple Answer

Question

Game can have :-

Correct Answer

Mixed strategies , Pure strategies

Your Answer

Mixed strategies , Pure strategies

True/False

Question

Degeneracy is not the condition when there is a tie for replacement ratios for choosing the departing variable.

Correct Answer

False

Your Answer

False

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