LIST OF ATTEMPTED QUESTIONS AND ANSWERS

Select The Blank

Question To assign a task, a zero in a row/column with ________ zero

is marked with square.

Correct Answer Exactly one

Your Answer Exactly one

Select The Blank

Question Transportation Tableau gives ________.

Correct Answer Data on shipping costs

Your Answer Data on shipping costs

True/False

Question In a traveling salesman problem, salesman can visit same

city twice before all the cities are covered.

Correct Answer False

Your Answer False

Select The Blank

Question The ________ are the points from which decision alternatives

emerges branches of the tree.

Correct Answer Decision modes

Your Answer Decision modes

Select The Blank

Question Mathematical Model Construction from the given data is

known as ________.

Correct Answer Problem Formulation

Your Answer Problem Formulation

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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

Multiple Choice Multiple Answer

Question Which are applications of quantitative techniques in financial

management?

Correct Answer Interpretation of financial statements , To determine optimum

equipment replacement policies , To develop capital

investment plans

Your Answer Interpretation of financial statements , To determine optimum

equipment replacement policies , To develop capital

investment plans

Select The Blank

Question Value of pure strategy game, to player I is ________

Correct Answer Maximin

Your Answer Maximin

Multiple Choice Multiple Answer

Question Combination of strategies of players determines :-

Correct Answer Outcomes , Payoff

Your Answer Outcomes , Payoff

Multiple Choice Multiple Answer

Question Types of variables in Simplex Method are :-

Correct Answer Slack Variable , Surplus Variable , Artificial Variable

Your Answer Slack Variable , Surplus Variable , Artificial Variable

Multiple Choice Multiple Answer

Question Elements of Transportation Model are :-

Correct Answer Plants , Warehouses , Supply & Demand

Your Answer Plants , Warehouses

True/False

Question In pure strategies game, maximin / minimax strategies are

called optional strategies.

Correct Answer True

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Your Answer False

True/False

Question Feasible solution must have (m+n-1) allocations.

Correct Answer True

Your Answer False

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

Multiple Choice Single Answer

Question Disadvantage of Graphical Method is :-

Correct Answer Restricted to two variables

Your Answer Restricted to two variables

Multiple Choice Multiple Answer

Question What is expected to be established when facts are analysed

after collection of data in the decision making process?

Correct Answer Qualitative considerations to take overall view of business ,

The length of time to which the decision should apply , Effect

of decision on other functional areas

Your Answer Qualitative considerations to take overall view of business ,

The length of time to which the decision should apply , To

check the authenticity of facts

Multiple Choice Multiple Answer

Question Study of Comparable past events & forecasting future events

is related to

Correct Answer Probability Theory , Correlation & Regression Analysis ,

Statistical Process Control

Your Answer Probability Theory

Multiple Choice Single Answer

Question When there are restrictions to assignment of a task to

particular facility :-

Correct Answer Very high costs are assigned to prohibited combinations

Your Answer A dummy row/column with zero costs is added

True/False

Question The decision nodes are depicted by circles.

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Correct Answer False

Your Answer False

Select The Blank

Question Expected gain to a player, if he and & his opponent use their

best strategy is called ________of game.

Correct Answer Value

Your Answer Value

Match The Following

Question Correct Answer Your Answer

Queuing theory Waiting lines formed in Waiting lines formed in

Line of balance WIP inventory control WIP inventory control

Critical path analysis Project scheduling Project scheduling

Decision theory Site selection Site selection

Select The Blank

Question The action of "Only few Customers may join Queue & some

may demand service on their behalf" is called ________

Correct Answer Collusion

Your Answer Collusion

Multiple Choice Single Answer

Question Which of the following is example of personal decision?

Correct Answer Works manager's decision to quit his post

Your Answer Works manager's decision to quit his post

True/False

Question Though graphical method can deal with any number of a

constraints but since each constraint is shown as a line on a

graph, a large number of lines make the graph difficult to

read.

Correct Answer True

Your Answer True

Multiple Choice Single Answer

Question Decision of a player to play row corresponding to maximin

value is called :-

Correct Answer Maximin Pure strategy

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Your Answer Maximin Pure strategy

Multiple Choice Single Answer

Question Optimal Solution is :-

Correct Answer That point or points in the feasible region that gives the

optimal values of the objective function

Your Answer That point or points in the feasible region that gives the

optimal values of the objective function

Multiple Choice Multiple Answer

Question Today's Business has constraints like :-

Correct Answer Raw Material , Shortage of Production , Limitations of

Warehouses

Your Answer Raw Material , Shortage of Production , Limitations of

Warehouses

True/False

Question Transportation tableau construction is to present the

information in the form of transportation tableau.

Correct Answer True

Your Answer True

Select The Blank

Question Transportation problem in which total capacity at supply

points equals total demand at the destinations is ________

Correct Answer Un-balanced Transportation Problem

Your Answer Balanced Transportation Problem

Multiple Choice Single Answer

Question Solution satisfying supply & demand conditions & yet may not

be optimal is :-

Correct Answer An Initial Feasible Solution

Your Answer An Initial Feasible Solution

Multiple Choice Single Answer

Question If Pij represent element in each column, than minimax value

of game is :-

Correct Answer Min (max pij)

Your Answer Min Pij

Multiple Choice Multiple Answer

Question Resource Management involves :-

Correct Answer Man , Machines , Materials

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Your Answer Man , Machines , Materials

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 Analytical decisions

True/False

Question If a mixed strategy game is bigger than 2x2 size, dominance

rule is used to reduce the game.

Correct Answer True

Your Answer True

Select The Blank

Question LP decide on product quantities to maximize profit is

________.

Correct Answer Product Mix Problems

Your Answer Product Mix Problems

Match The Following

Question Correct Answer Your Answer

Shortest Route for Traveling Problem Traveling Problem

Order Quantity Allocation Production Problem Production Problem

Number of Employees Staffing Problem Staffing Problem

Aircraft & Crews Routing Problem Routing Problem

Multiple Choice Single Answer

Question When an optimal solution is reached next step is to :-

Correct Answer Mark a zero in a row with exclusive zero.

Your Answer Mark a zero in a row with exclusive zero.

Multiple Choice Multiple Answer

Question Procedural steps in LCM are :-

Correct Answer Scrutinize transport costs , Allocation as per supply &

demand , Delete the row or column

Your Answer Scrutinize transport costs , Allocation as per supply &

demand , Delete the row or column

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True/False

Question System output refers to the rate at which customers are

rendered service.

Correct Answer True

Your Answer True

Multiple Choice Single Answer

Question In a pure strategy game, the value of game to player II is

maximin, then for player and the value is :-

Correct Answer Negative minimax

Your Answer Negative minimax

Multiple Choice Multiple Answer

Question Words related to VAM are :-

Correct Answer Vogel's , Method , Approximation

Your Answer Vogel's , Method , Approximation

Multiple Choice Single Answer

Question Graphical method deals with problem of :-

Correct Answer Both Maximization & Minimization

Your Answer Both Maximization & Minimization

Multiple Choice Multiple Answer

Question Various Types of Problems related to Linear Programming

are

Correct Answer Routing Problems , Transportation Problems , Product Mix

Problems

Your Answer Routing Problems , Transportation Problems , Product Mix

Problems

True/False

Question Mechanistic decisions involve problems with limited number

of decision variables.

Correct Answer True

Your Answer True

True/False

Question Minimax vale of the game sets upper limit to the value of the

game.

Correct Answer True

Your Answer True

Multiple Choice Single Answer

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Question Which of the decision theory model indicates the situations

where consequences of each act of decision maker are

influenced by acts of opponent?

Correct Answer Competitive strategies

Your Answer Competitive strategies

Select The Blank

Question Pair of values (x,y) of decision variables that satisfy

constraints is ________

Correct Answer Feasible Solution

Your Answer Feasible Solution

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