Quantitative Techniques - 17

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

Quantitative Techniques - 16

Match The Following
Question Correct Answer Your Answer
Least Cost Method Procedure of allocating Satisfies supply & demand
Dummy source or Extra row or column in a Extra row or column in a
An Initial Feasible Solution Satisfies supply & demand Mechanism of Operation
North West Corner Method Procedure of allocating Procedure of allocating
Select The Blank
Question Brown's algorithm is used to solve ________2 persons zero game
sum.
Correct Answer m x n
Your Answer m x n
Match The Following
Question Correct Answer Your Answer
MODI Method Water cells to achieve Water cells to achieve
Vogel's Approximation Avoidance of high penalty Avoidance of high penalty
Degeneracy Occupied cells are less Occupied cells are less
Stepping Stone Method Unoccupied cells to Unoccupied cells to
True/False
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Question Smallest element in each row is subtracted from each element in
the column.
Correct Answer False
Your Answer True
Multiple Choice Multiple Answer
Question Terminologies of Graphical Method are :-
Correct Answer Constraints , Graph of linear equality/inequality , Half Space
Your Answer Constraints , Graph of linear equality/inequality , Half Space ,
Payoff
Multiple Choice Single Answer
Question Feasible Region is :-
Correct Answer Region defined by the Constraints & non-negative restrictions
Your Answer Region defined by the Constraints & non-negative restrictions
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
True/False
Question Allocations are independent when it is not possible to alter any
individual allocations.
Correct Answer True
Your Answer True
Multiple Choice Multiple Answer
Question Participants of the game are :-
Correct Answer Players , Decision maker
Your Answer Players , Decision maker , Payoffs , Elements
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
Select The Blank
Question A mixed strategy 2 x 2 game is solved by ________method.
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Correct Answer Algebraic
Your Answer Linear programming
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
Multiple Choice Single Answer
Question Every combination of strategies of players determines an
outcomes called :-
Correct Answer Pay off
Your Answer Pay off
True/False
Question Value of game to player II is negative of minimax value.
Correct Answer False
Your Answer True
Multiple Choice Multiple Answer
Question In a standard minimization problem, objective is to :-
Correct Answer Minimize total time. , Minimize total cost.
Your Answer Minimize total time. , Minimize total cost. , Find alternative optimal
solution. , Allocate each task to each facility.
Multiple Choice Multiple Answer
Question Objects too can form queues as :-
Correct Answer Semi-finished job await next operation , Broken down to be
repaired , Blunt tools awaiting to be reground
Your Answer Semi-finished job await next operation , Broken down to be
repaired , Blunt tools awaiting to be reground , Finance
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
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Question Feasible solution formula contains :-
Correct Answer m, n, 1 , m, n, 3 , n, 1, x
Your Answer m, n, 1 , m, n, 3 , n, 1, x , m, 1, p
Select The Blank
Question Team approach needs for optimal solution of ________
Decisions.
Correct Answer Adaptive
Your Answer Adaptive
Multiple Choice Single Answer
Question Transportation Tableau is :-
Correct Answer Tabular arrangement of data on demand, capacity & per unit
shipping costs bet. supply point to destination
Your Answer Tabular arrangement of data on demand, capacity & per unit
shipping costs bet. supply point to destination
Multiple Choice Multiple Answer
Question Which of the following elements are used to construct the pay off
matrix?
Correct Answer Pay off , strategies , Probabilities
Your Answer Pay off , strategies , Decision tree , Probabilities
Multiple Choice Multiple Answer
Question Resource Management involves
Correct Answer Man , Machines , Materials
Your Answer Man , Machines , Materials , Work Orders
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 Effective improvement over the initial feasible solution is included
in MODI.
Correct Answer True
Your Answer True
True/False
Question Risk represent the probability estimate of nonoccurrence of each
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outcome.
Correct Answer False
Your Answer False
Select The Blank
Question A game in which more than 2 strategies are available to both
players is called ________ game.
Correct Answer m x n
Your Answer m x 2
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 True
Multiple Choice Single Answer
Question Extra row or column in tableau, with zero cost in each of its cells,
used to balance an unbalanced problem is :-
Correct Answer Dummy source or Destination
Your Answer Dummy source or Destination
Multiple Choice Multiple Answer
Question Games theory can solve :-
Correct Answer Two person's game , Two persons zero sum game , Two persons
3 x 3 game
Your Answer Two person's game , N Person's game , Two persons zero sum
game , Two persons 3 x 3 game
True/False
Question Resulting payoff of optional strategies is called outcome.
Correct Answer False
Your Answer True
Select The Blank
Question A row with higher elements is called ________ row.
Correct Answer Dominating
Your Answer Major
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Question Constraint not affecting the feasible solution is ________.
Correct Answer Redundant Constraint
Your Answer Redundant Constraint
True/False
Question Value of the subgame related to highest point in the feasible
region is solution for 2xn game.
Correct Answer True
Your Answer True
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 , Payoffs
Select The Blank
Question The ________ represents consequences of the interactions of the
decision alternatives and the chance events.
Correct Answer Outcomes
Your Answer Outcomes
Select The Blank
Question Number of customers in the queue plus those being serviced is
________.
Correct Answer System Length
Your Answer System Length
Multiple Choice Single Answer
Question Sequence of steps performed in moving from one basic feasible
solution to another basic feasible solution is :-
Correct Answer Iteration
Your Answer Iteration
Multiple Choice Multiple Answer
Question Terms related to LCM are :-
Correct Answer Initial feasible solution , Lowest Cost Cells , Next Lowest & so on
Your Answer Initial feasible solution , Lowest Cost Cells , Next Lowest & so on ,
Finance Distribution
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Question Value of game equals :-
Correct Answer Saddle points , Weighted average of possible outcomes
Your Answer Saddle points , Weighted average of possible outcomes , Zero ,
Value of any sum game
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 Optimal strategy
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 , Prepare a Methodological report
Multiple Choice Single Answer
Question A mixed strategy is decision of player to select :-
Correct Answer Different strategies
Your Answer Different strategies
Select The Blank
Question Comparable Past Event & Forecasting Future Events Study is
called ________
Correct Answer Probability Theory
Your Answer Probability Theory
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
Multiple Choice Single Answer
Question There are more than one optimal solutions to an assignment
problem when :-
Correct Answer Number of independent zeros are more than required ones.
Your Answer Number of minimum lines covering all zeros are more than
number of rows/columns
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Question In an unbalanced assignment problem :-
Correct Answer One or more facilities remain idle.
Your Answer One or more facilities remain idle.
Multiple Choice Single Answer
Question The column with the largest negative index number is :-
Correct Answer Key Column
Your Answer Key Column

Quantitative Techniques - 15

LIST OF ATTEMPTED QUESTIONS AND ANSWERS
Select The Blank
Question Decision Making under Conflict is termed as ________
Correct Answer Competitive Strategies
Your Answer Competitive Strategies
Select The Blank
Question When both the players play their optimal strategies the
resulting payoff is called ________of game.
Correct Answer Value
Your Answer Maximin
Multiple Choice Multiple Answer
Question Nomenclatures not related to Transportation Problem are :-
Correct Answer S, P, L, D , S, P, W, M , T, P, W, D
Your Answer S, P, L, D , S, P, W, M , T, P, W, D
True/False
Question Analytical decisions involve problems with limited number of
decision variables.
Correct Answer False
Your Answer True
True/False
Question Service time can be either fixed & balanced layouts or it can
be variable.
Correct Answer True
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Your Answer True
Select The Blank
Question LP decide on product quantities to maximize profit is
________.
Correct Answer Product Mix Problems
Your Answer Transportation Problems
True/False
Question The graphical method is simple to understand & easy to use
Correct Answer True
Your Answer True
Multiple Choice Multiple Answer
Question Point of intersection of pure strategies is called :-
Correct Answer Value , Saddle point
Your Answer Payoff , Value , Optimal strategy
True/False
Question Sensitivity analysis can be illustrated easily by drawing the
graph of the changes
Correct Answer True
Your Answer True
Match The Following
Question Correct Answer Your Answer
Political Risks People Resistance Institution
Financial Risks ROI CAD / CAM
Technical Risks CAD / CAM People Resistance
Functional Risks HRD ROI
Select The Blank
Question In North West Corner Method, the ________ is handled
Correct Answer Procedure of allocating units to cells
Your Answer Satisfies supply & demand conditions
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Question Linear Programming deciding on product quantities to
maximize profit is called :-
Correct Answer Product Mix Problems
Your Answer Product Mix Problems
Select The Blank
Question A row with higher elements is called ________ row.
Correct Answer Dominating
Your Answer Major
Select The Blank
Question Number of customers in the queue plus those being serviced
is ________.
Correct Answer System Length
Your Answer Queue length
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.
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
Multiple Choice Single Answer
Question Graphical method of Linear Programming is useful when a
Linear Programming problem involves :-
Correct Answer Two Variables
Your Answer Two Variables
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 True
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Multiple Choice Multiple Answer
Question Terms related to NWCM are :-
Correct Answer Initial feasible solution , Allocation of units , Upper left hand
corner
Your Answer Initial feasible solution , Allocation of units , Upper left hand
corner , Materials Distribution
True/False
Question When number of minimum lines drawn covering all zero
elements are less than number of columns/rows, more than
one optimal solution exist.
Correct Answer False
Your Answer True
Select The Blank
Question A game in which more than 2 strategies are available to both
players is called ________ game.
Correct Answer m x n
Your Answer m x 2
Multiple Choice Multiple Answer
Question Information to study an input process is :-
Correct Answer Arrival distribution , Inter-arrival distribution , Mean arrival rate
Your Answer Arrival distribution , Finance , Inter-arrival distribution
Multiple Choice Multiple Answer
Question Which of the following can be considered as a general rules
for data collection in the decision making process?
Correct Answer The information should be subjected to checks and cross
checks , The information must be collected from the most
reliable source , All relevant facts, regardless of how
disorganised and unrelated they seem at the time of data
gathering, should be recorded
Your Answer The information should be subjected to checks and cross
checks , Only organised and related facts should be collected
, The information must be collected from the most reliable
source
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
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Question Combination of strategies of players determines :-
Correct Answer Outcomes , Payoff
Your Answer Outcomes , Minimax , Saddle point
True/False
Question Decision alternatives must not be mutually exclusive.
Correct Answer False
Your Answer True
Multiple Choice Single Answer
Question Value of a game having saddle point equals :-
Correct Answer Saddle point
Your Answer Saddle point
Multiple Choice Multiple Answer
Question Pure strategies art also called :-
Correct Answer Minimax pure strategy , Maximin pure strategy , Optimal
strategies
Your Answer Minimax pure strategy , Maximin pure strategy , Mixed
strategy
Match The Following
Question Correct Answer Your Answer
Transportation Tableau Data on shipping costs Data on shipping costs
Transportation Problem Transportation of goods Supply points equals total
Balanced Transportation Supply points equals Mechanism of Operation
Un-balanced Supply points does not Transportation of goods
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
Multiple Choice Single Answer
Question Linear Programming develop a work schedule to meet staff
needs at all hours with minimum number of employees is
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Correct Answer Staffing Problems
Your Answer Staffing Problems
True/False
Question A 2x2 mixed strategy game is solved by 1 mere
programming.
Correct Answer False
Your Answer True
Multiple Choice Multiple Answer
Question Various Quantitative Techniques are :-
Correct Answer Linear Programming , Replacement Theory , Queuing Theory
Your Answer Linear Programming , Replacement Theory , Queuing Theory
True/False
Question Static decisions are essentially not a one time decisions.
Correct Answer False
Your Answer True
Select The Blank
Question ________ is called Stepping Stone Method.
Correct Answer Unoccupied cells to achieve solution
Your Answer Avoidance of high penalty & high-cost
Select The Blank
Question Decision Making under Un-certainty is called as ________.
Correct Answer Uncertain Situations
Your Answer Stochastic Model
Multiple Choice Single Answer
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 Deterministic models
Multiple Choice Single Answer
Question Time spent by Service Facility to render the service to a
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Correct Answer Service time
Your Answer Service time
Multiple Choice Single Answer
Question In pure strategy game, strategies of players are represented
by row and maximin is 4. There value and game is :-
Correct Answer 4
Your Answer –4
Multiple Choice Multiple Answer
Question Words related to NWCM are :-
Correct Answer North , Corner , West
Your Answer North , Corner , West , Mechanism
Multiple Choice Single Answer
Question Sequence of steps performed in moving from one basic
feasible solution to another basic feasible solution is :-
Correct Answer Iteration
Your Answer Iteration
Multiple Choice Single Answer
Question In a pure strategy game, probability of selection of his optimal
strategy by a player is :-
Correct Answer 1
Your Answer Zero
Multiple Choice Single Answer
Question Linear Programming is one of the most popular techniques of
:-
Correct Answer Operation Research
Your Answer Operation Research
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 What do you mean by the decisions taken by the lower levels
of management as an outcome of policy decision?
Correct Answer Operating decision
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Your Answer Personal decision
Multiple Choice Single Answer
Question Study of Comparable Past Events & Forecasting Future
Events is :-
Correct Answer Probability Theory
Your Answer Probability Theory
Select The Blank
Question A game in which there are two competing parties is called
________ game.
Correct Answer 2 person
Your Answer 2 x 3