Quantitative Techniques - 8

LIST OF ATTEMPTED QUESTIONS AND ANSWERS
Multiple Choice Multiple Answer
Question Queues are formed at :-
Correct Answer Telephone booths , Bus stand , Traffic lights
Your Answer Bus stand , Traffic lights , Telephone booths
Multiple Choice Multiple Answer
Question Specification of the constraints are :-
Correct Answer Vendors , Available Hours , Space
Your Answer Vendors , Space , Materials
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 maximin
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 Assignment technique is useful in a situation where :-
Correct Answer Certain number of tasks are required to be attached to equal
number of facilities
Your Answer Certain number of tasks are required to be assigned to one
facility
Select The Blank
Question In waiting line, important characteristic commonly set to study
is ________.
Correct Answer Queue length
Your Answer Mean arrival rate

Select The Blank
Question Identify decision variables is ________ step of Graphical
Correct Answer First
Your Answer First
True/False
Question If a Linear Programming problem has no solution that
satisfies all constraints, it is said to be feasible.
Correct Answer True
Your Answer False
True/False
Question There is one queue & one server in the service facility is
Single Queue: Single Server.
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 Single Answer
Question Decision Variables are :-
Correct Answer The unknowns to be determined from the solution to the
model
Your Answer The unknowns to be determined from the solution to the
model
Multiple Choice Single Answer
Question Graphical method can deal with :-
Correct Answer Any number of constraints
Your Answer Two constraints
Multiple Choice Multiple Answer
Question Nomenclatures related to Transportation Problem are :-
Correct Answer S , P , W
Your Answer S , P , W
Multiple Choice Multiple Answer
Question In solution of an assignment problem a row with zero costs is
added and all the elements are multiplied by - 1, then the
Correct Answer Unbalance assignment. , Maximization.
Your Answer Prohibited assignments , Unbalance assignment. ,
Maximization.
Select The Blank
Question A________ is a graphic device to depict the sequence of
decision to be made and the possible events that may occur.
Correct Answer Decision tree
Your Answer Decision tree
Select The Blank
Question Terminology for Service Distribution is ________
Correct Answer FCFS or LCFS
Your Answer FIFO or LIFO
Multiple Choice Single Answer
Question Graphical method deals with problem of :-
Correct Answer Both Maximization & Minimization
Your Answer Both Maximization & Minimization
Multiple Choice Single Answer
Question Linear Programming find the quantity of components to be
used at :-
Correct Answer Minimum Cost
Your Answer Minimum Cost
True/False
Question Compute row & column values for stone squares is step for
MODI method.
Correct Answer True
Your Answer True
True/False
Question Risk represent the probability estimate of nonoccurrence of
each outcome.
Correct Answer False
Your Answer False
True/False
Question By application of dominance rule final solution is affected.
Correct Answer False
Your Answer True

Multiple Choice Multiple Answer
Question Different Terms related to Simplex Method are :-
Correct Answer Algorithm , Iteration , Slack variable
Your Answer Algorithm , Minimax , Iteration

Select The Blank
Question Mathematical Model Construction from the given data is
known as ________.
Correct Answer Problem Formulation
Your Answer Problem Formulation
Multiple Choice Multiple Answer
Question Which of the following techniques and models are used to
deal with decision making under certainty?
Correct Answer Linear programming , Sequencing model , Breakeven
analysis
Your Answer Linear programming , Sequencing model , Breakeven
analysis
Multiple Choice Single Answer
Question What do you mean by the decisions taken by the top
management as a policy?
Correct Answer Policy decisions
Your Answer Policy decisions

Quantitative Techniques - 6

LIST OF ATTEMPTED QUESTIONS AND ANSWERS



True/False
Question
Constraint that does not affect the feasible solution is Redundant.
Correct Answer
True
Your Answer
True

Multiple Choice Single Answer
Question
Only few customers may join Queue & some of them may demand service on their behalf, This action is called :-
Correct Answer
Collusion
Your Answer
Collusion

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

True/False
Question
Resulting payoff of optional strategies is called outcome.
Correct Answer
False
Your Answer
True

Multiple Choice Single Answer
Question
Determination of Least Cost Route of Transportation of Goods from one plant to different warehouses is called :-
Correct Answer
Transportation Model
Your Answer
Transportation Model

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

Multiple Choice Single Answer
Question
What do you mean by the decisions taken by the top management as a policy?
Correct Answer
Policy decisions
Your Answer
Policy decisions

Multiple Choice Multiple Answer
Question
In an assignment problem a machine is not capable of performing a job & number machines are one less than number of jobs, then the problem is :-
Correct Answer
Unbalanced assignment problem. , Prohibited assignment problem. , Minimization problem.
Your Answer
Maximization problems. , Unbalanced assignment problem. , Prohibited assignment problem.

Multiple Choice Single Answer
Question
In LCM, L stands for :-
Correct Answer
Least
Your Answer
Least

Select The Blank
Question
________ is a Method to find feasible solution.
Correct Answer
NCWM
Your Answer
NWCM

Multiple Choice Single Answer
Question
In LCM, C stands for :-
Correct Answer
Cost
Your Answer
Cost

Select The Blank
Question
Equation of constraints & ________ sets up Simplex method.
Correct Answer
Objective Function
Your Answer
Objective Function

Multiple Choice Single Answer
Question
In VAM, V stands for :-
Correct Answer
Vogel
Your Answer
Vogel

Multiple Choice Single Answer
Question
If a mixed strategy game is and 2 x n size then the first step to solve the game is to:-
Correct Answer
Reduce game by dominance rule
Your Answer
Look for saddle point

Multiple Choice Single Answer
Question
Which of the following criteria is used to classify the managerial decisions into programmed and non-programmed decisions?
Correct Answer
Extent of judgment involved
Your Answer
Extent of judgment involved

Select The Blank
Question
Graphical method is used to solve problems involving ________ unknowns.
Correct Answer
Two
Your Answer
Two

Match The Following
Question
Correct Answer
Your Answer
Decision making under uncertainty
Uncertain situations
Uncertain situations
Decision making under certainty
Deterministic models
Deterministic models
Decision making under conflict
Competitive strategies
Competitive strategies
Decision making under risk
Stochastic models
Stochastic models

Multiple Choice Single Answer
Question
In an assignment problem optimal solution is obtained when number of minimum lines covering all zeros :-
Correct Answer
Equals number of rows/columns
Your Answer
Equals number of rows/columns

Multiple Choice Single Answer
Question
What do you mean by the decisions based on operating procedures evolved in the past for handling problems at the appropriate level?
Correct Answer
Programmed decisions
Your Answer
Programmed decisions

Select The Blank
Question
Value of decision variables having either zero or positive is ________.
Correct Answer
Non-negativity restrictions
Your Answer
Non-negativity restrictions

True/False
Question
Surplus variable is a variable used to convert a Less than or equal to constraint into equality by subtracting it from left hand side of the constraint.
Correct Answer
False
Your Answer
False

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

True/False
Question
Compute row & column values for stone squares is step for MODI method.
Correct Answer
True
Your Answer
True

Multiple Choice Single Answer
Question
Which of the following is an example of a policy decision?
Correct Answer
Increment and promotion policy
Your Answer
Increment and promotion policy

Select The Blank
Question
Representation of Mean Time between consecutive arrivals is done by ________.
Correct Answer
Inverse of Lambda
Your Answer
Inverse of Lambda

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

Multiple Choice Single Answer
Question
What is an Initial Feasible Solution?
Correct Answer
Solution satisfying supply & demand conditions & yet may not be optimal
Your Answer
A systematic procedure to obtain an initial feasible solution allocating units to the cells of the transportation table beginning in the upper left hand corner

Multiple Choice Single Answer
Question
What do you mean by the decisions taken by the lower levels of management as an outcome of policy decision?
Correct Answer
Operating decision
Your Answer
Operating decision

Select The Blank
Question
In North West Corner Method, the ________ is handled
Correct Answer
Procedure of allocating units to cells
Your Answer
Procedure of allocating units to cells

Select The Blank
Question
A________ is a graphic device to depict the sequence of decision to be made and the possible events that may occur.
Correct Answer
Decision tree
Your Answer
Decision tree

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)

Multiple Choice Single Answer
Question
Feasible Solution is :-
Correct Answer
Pair of Values (x,y) of the decision variables that satisfy constraints
Your Answer
Pair of Values (x,y) of the decision variables that satisfy constraints

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

Multiple Choice Single Answer
Question
Simplex method is used to solve problems which involve :-
Correct Answer
One or more Unknowns
Your Answer
Three or more Unknowns

Multiple Choice Multiple Answer
Question
Participants of the game are :-
Correct Answer
Players , Decision maker
Your Answer
Players , Decision maker

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

True/False
Question
MODI Method is to evaluate water cells to achieve an optimal solution.
Correct Answer
True
Your Answer
True

True/False
Question
Every constraint in a LP problem defines a certain portion of the boundary of the solution region.
Correct Answer
True
Your Answer
True

Select The Blank
Question
A row with lower elements is called ________ row.
Correct Answer
Dominated
Your Answer
Dominated

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 , Coefficient of slack variables are assumed to be zero , Coefficient of artificial variables are taken as -- M

Multiple Choice Multiple Answer
Question
Procedural steps in VAM are :-
Correct Answer
Calculation of difference bet 2 element , Selection of row or column , Allocation of number of units
Your Answer
Calculation of difference bet 2 element , Selection of row or column , Allocation of number of units

Multiple Choice Multiple Answer
Question
Queue Characteristics are :-
Correct Answer
Input distribution , Output distribution , Service discipline
Your Answer
Input distribution , Output distribution , Service discipline

Multiple Choice Single Answer
Question
In LCM, M stands for :-
Correct Answer
Method
Your Answer
Method

Match The Following
Question
Correct Answer
Your Answer
Transportation Tableau
Data on shipping costs
Data on shipping costs
Transportation Problem
Transportation of goods or services
Transportation of goods or services
Balanced Transportation Problem
Supply points equals total demand
Supply points equals total demand
Un-balanced Transportation Problem
Supply points does not equal demand
Supply points does not equal demand

True/False
Question
In pure strategy game players stray with any one strategy throughout the game.
Correct Answer
False
Your Answer
True

Select The Blank
Question
Situation in which the LP problem permits feasible combination of the decision variables is called as ________.
Correct Answer
Infeasibility
Your Answer
Infeasibility

Multiple Choice Single Answer
Question
What is the basic criteria to classify the managerial decisions into basic and routine decisions?
Correct Answer
Frequency of occurrence of the problem
Your Answer
Frequency of occurrence of the problem

Quantitative Techniques - 7

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