QN1. _ is the latest time by which an activity can be started without delaying the completion of the project.
a) EST
b) EFT
c) LST
d) LFT
Answer
Answer: c) LST
QN2. _ is the latest time by which an activity can be finished without delaying the completion of the project.
a) EST
b) EFT
c) LST
d) LFT
Answer
Answer: d) LFT
QN3. _ is the duration by which an activity can be delayed without delaying the project
a) Slack
b) Total float
c) Free float
d) Independent float
Answer
Answer: b) Total float
QN4. _ is the time by which the completion of an activity can be delayed beyond its earliest finish time without affecting the earliest start time of a succeeding activity
a) Slack
b) Total float
c) Free float
d) Independent float
Answer
Answer: c) Free float
QN5. _ is activity oriented.
a) CPM
b) PERT
c) LP
d) None of the above
Answer
Answer: a) CPM
QN6. _ is event oriented.
a) CPM
b) PERT
c) LP
d) None of the above
Answer
Answer: b) PERT
QN7. PERT emphasis on _
a) Time
b) Activity
c) a) and b)
d) None of the above
Answer
Answer: a) Time
QN8. Full form of PERT is
a) Performance evaluation review technique
b) Programme Evaluation Review technique
c) Programme Evaluation Research Technique
d) None of these.
Answer
Answer: a) Performance evaluation review technique
QN9. _ is a scheme or design of something intended or device.
a) Programme
b) Project
c) Network
d) Float
Answer
Answer: c) Network
QN10. An activity which must be completed before one or more other activities start is known as _ activity.
a) Dummy
b)Predecessor
c) Successor
d) None of these
Answer
Answer: b)Predecessor
QN11. The event is commonly represented by _ in network diagram
a) Nodes
b) Arrow
c) Triangle
d) None of these
Answer
Answer: a) Nodes
QN12. _ is the disconnection of an activity before the completion of activities in a project network diagram.
a) Dangling
b) Looping
c) Dummy
d) None of the above
Answer
Answer: c) Dummy
QN13. _ is an activity oriented diagram.
a) CPM
b) PERT
c) Histogram
d) None of the above
Answer
Answer: a) CPM
QN14. _ is the duration by which an activity can be delayed without delaying the project.
a) Total float
b) Slack
c) Earliest event time
d) None of these
Answer
Answer: a) Total float
QN15. _ is the shortest possible time in which an activity can be delayed without delaying the project.
a) Pessimistic time estimate
b) Optimistic time estimate
c) Most likely time estimate
d) None of these
Answer
Answer: b) Optimistic time estimate
QN16. Which of the following is not a part of decision tree problem specification?
a) a list of alternatives
b) A list of possible state of nature
c) EVPI
d) Pay off associated with alternative/ state of nature combination.
Answer
Answer: c) EVPI
QN17. If a decision theory problem has 3 decision alternatives and 4 states of nature, the number of payoffs in that problem will bea) 3
b) 4
c) 12
d) 64
Answer
Answer: c) 12
QN18. In a decision theory problem under complete uncertainty, which one of the following approaches will not be possible?
a) Expected monetary value
b) Maxmin
c) Minimax
d)Hurwicz
Answer
Answer: a) Expected monetary value
QN19. For decision making under uncertainty, identify the decision rule that is appropriate for the optimist.
a) Laplace
b) Maximax
c) Minimax regret
d)Maxmin
Answer
Answer: b) Maximax
QN20. What decision-making condition must exist for the decision tree to be a valuable tool?
a) Certainty
b) Uncertainty
c) Risk
d) It does not matter, the tool is appropriate in all environments
Answer
Answer: c) Risk
QN21. Which of the following is (are) types of decision-making environments?
a) Decision making under uncertainty
b) Decision making under certainty
c) Decision making under risk
d) None of the above
Answer
Answer: b) Decision making under certainty
QN22. A good decision always implies that
a) Will obtain the best final results
b) Have used appropriate quantitative analysis.
c) Have considered all alternatives
d) Have followed a logical process.
Answer
Answer: d) Have followed a logical process.
QN23. All of the following are steps in the decision-making process EXCEPT
a) Define the problem
b) List alternatives
c) Identify the possible outcomes
d) Compute the posterior probabilities.
Answer
Answer: d) Compute the posterior probabilities.
QN24. The equally likely decision criteria is also known as
a) Bayes
b) Laplace
c) Minimax
d) Hurwicz
Answer
Answer: b) Laplace
QN25. Opportunity loss refers to
a) The expected value of a bad decision
b) The expected loss from a bad decision
c) The difference between actual pay off and the optimal pay off
d) The regret from not having made a decision
Answer
Answer: c) The difference between actual pay off and the optimal pay off
QN26. The criteria of expected monetary value is used for making decisions under
a) Certainty
b) Uncertainty
c) Risk
d) all of the above
Answer
Answer: d) all of the above
QN27. The maximax criteria is _
a) Optimistic
b) Neutral
c) Pessimistic
d) Can be any one of the above
Answer
Answer: c) Pessimistic
QN28. Which of the following might be viewed as an optimistic decision criterion?
a) Hurwicz criterion
b) Maximin
c) Maximax
d) Minimax
Answer
Answer: c) Maximax
QN29. The minimum EOL will always result in the same decision as
a) Minimax
b) Maximin
c) Maximum EMV
d) Maximax
Answer
Answer: c) Maximum EMV
QN30. Decision theory is concerned with
a) Methods of arriving at an optimal decision
b) Selecting optimal decision in sequential manner
c) Analysis of information that is available
d) All of the above
Answer
Answer: d) All of the above
QN31. Which of the following criterion is not used for decision making under uncertainty?
a) Maximin
b) Maximax
c) Minimax
d) Minimize expected loss
Answer
Answer: d) Minimize expected loss
QN32. The minimum expected opportunity loss is
a) Equal to EVPI
b) Minimum regret
c) Equal to EMV
d) Both (a) and (b)
Answer
Answer: d) Both (a) and (b)
QN33. The expected value of perfect information is equal to
a) EPPI – Minimum EMV
b) EPPI + Maximum EMV
c) Maximum EOL
d) None of the above
Answer
Answer: a) EPPI – Minimum EMV
QN34. The value of the coefficient of optimism is needed while using the criterion of
a) Equally likely
b) Maximin
c) Realism
d) Maximin
Answer
Answer: c) Realism
QN35. while using Hurwicz criterion, the coefficient of realism
a) Represents the degree of optimism
b) Represents the degree of pessimism
c) Is the probability of state of nature
d) None of the above
Answer
Answer: a) Represents the degree of optimism
QN36. The decision making criteria that should be used to achieve maximum long term pay off is
a) EOL
b) EMV
c) Hurwicz
d) Maximax
Answer
Answer: b) EMV
QN37. Game theory models are classified by the
a) Number of players
b) Sum of all payoff
c) Number of strategies
d) All of the above
Answer
Answer: d) All of the above
QN38. The objective of network analysis is to
a) Minimize total project duration
b) Minimize total project cost
c) Minimize production delays, interruption and conflicts
d) All of the above
Answer
Answer: a) Minimize total project duration
QN39. The initial solution of a transportation problem can be obtained by applying any known method. But the only condition is
a) The solution be optimal
b) The rim conditions are satisfied
c) The solution not be degenerate
d) All of the above
Answer
Answer: b) The rim conditions are satisfied
QN40. When total supply is equal to total demand in a transportation problem , the problem is said to be
a) Balanced
b) Unbalanced
c) Degenerate
d) None of the above
Answer
Answer: a) Balanced
