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