Principles and Practices of Management Online MCQ Set 21

QN01. ______________ is a series of related activities which result in some product or services.

  1. Network
  2. transportation model
  3. assignment
  4. none of these
Answer

(A)Network

QN02. Constraint in LP problem are called active if they

  1. Represent optimal solution
  2. At optimality do not consume all the available resources
  3. Both of (a) and (b)
  4. None of the above
Answer

(A)Represent optimal solution

QN03. It ______________ at which an activity can start.

  1. EST
  2. EFT
  3. LST
  4. LFT
Answer

(A)EST

QN04. ______________ 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

  1. Slack
  2. Total float
  3. Free float
  4. Independent float
Answer

(C)Free float

QN05. ______________ is the duration by which an activity can be delayed without delaying the project.

  1. Total float
  2. Slack
  3. Earliest event time
  4. None of these
Answer

(A)Total float

QN06. For decision making under uncertainty, identify the decision rule that is appropriate for the optimist.

  1. Laplace
  2. Maximax
  3. Minimax regret
  4. Maxmin
Answer

(B)Maximax

QN07. Opportunity loss refers to

  1. The expected value of a bad decision
  2. The expected loss from a bad decision
  3. The difference between actual pay off and the optimal pay off
  4. The regret from not having made a decision
Answer

(C)The difference between actual pay off and the optimal pay off

QN08. Which of the following criterion is not used for decision making under uncertainty?

  1. Maximin
  2. Maximax
  3. Minimax
  4. Minimize expected loss
Answer

(D)Minimize expected loss

QN09. The initial solution of a transportation problem can be obtained by applying any known method. But the only condition is

  1. The solution be optimal
  2. The rim conditions are satisfied
  3. The solution not be degenerate
  4. All of the above
Answer

(B)The rim conditions are satisfied

QN10. A physical model is an example of

  1. An iconic model
  2. An analogue model
  3. A verbal model
  4. A mathematical model
Answer

(A)An iconic model

QN11. ______________ helps management to evaluate alternative course of action for selecting the best course of action

  1. Operations research
  2. Quantitative technique
  3. Management research
  4. None of the above
Answer

(A)Operations research

QN12. ______________ Is known as symbolic model

  1. Iconic
  2. Mathematical
  3. Analogue
  4. None of the above
Answer

(B)Mathematical

QN13. Which of the following as an assumption of an LP model

  1. Divisibility
  2. Proportionality
  3. Additively
  4. all of the above
Answer

(D)all of the above

QN14. While solving LP problem graphically, the area bounded by the constraints is called

  1. Feasible region
  2. Infeasible region
  3. Unbounded solution
  4. None of the above
Answer

(A)Feasible region

QN15. Any activity which does not consume either any resource or time is called ______________ activity.

  1. Predecessor
  2. Successor
  3. Dummy
  4. End
Answer

(C)Dummy

QN16. Activities lying on the critical path are called ______________

  1. Net work
  2. Critical path
  3. Critical activities
  4. None of the above
Answer

(C)Critical activities

QN17. ______________ is activity oriented.

  1. CPM
  2. PERT
  3. LP
  4. None of the above
Answer

(A)CPM

QN18. ______________ is a scheme or design of something intended or device.

  1. Programme
  2. Project
  3. Network
  4. Float
Answer

(C)Network

QN19. Which of the following is not a part of decision tree problem specification?

  1. a list of alternatives
  2. A list of possible state of nature
  3. EVPI
  4. Pay off associated with alternative / state of nature combination.
Answer

(C)EVPI

QN20. A good decision always implies that

  1. Will obtain the best final results
  2. Have used appropriate quantitative analysis.
  3. Have considered all alternatives
  4. Have followed a logical process.
Answer

(D)Have followed a logical process.

QN21. The value of the coefficient of optimism is needed while using the criterion of

  1. Equally likely
  2. Maximin
  3. Realism
  4. Maximin
Answer

(C)Realism

QN22. Game theory models are classified by the

  1. Number of players
  2. Sum of all payoff
  3. Number of strategies
  4. All of the above
Answer

(D)All of the above

QN23. Every mathematical model

  1. Must be deterministic
  2. Requires computer aid for solution.
  3. Represents data in numerical form
  4. All of the above
Answer

(C)Represents data in numerical form

QN24. Operations research is applied

  1. Military
  2. Business
  3. Administration'
  4. All of the above
Answer

(D)All of the above

QN25. ______________ model involves all forms of diagrams

  1. iconic
  2. mathematical
  3. analogue
  4. schematic
Answer

(A)iconic

QN26. A constraint in an LP model restricts

  1. Value of objective function
  2. Value of decision variable
  3. Use of available resource
  4. all of the above
Answer

(D)all of the above

QN27. Constraints in LP problem are called active if they

  1. Represent optimal solution
  2. At optimality do not consume all the available resources
  3. Both of (a) and (b)
  4. None of the above
Answer

(A)Represent optimal solution

QN28. All negative constraints must be written as

  1. Equality
  2. Non equality
  3. Greater than or equal to
  4. Less than or equal to
Answer

(C)Greater than or equal to

QN29. If two constraints do not intersect in the positive quadrant of the graph, then

  1. The problem is infeasible
  2. The solution is unbounded
  3. One of the constraints is redundant
  4. None of the above
Answer

(D)None of the above

QN30. ______________ is the latest time by which an activity can be finished without delaying the completion of the project.

  1. EST
  2. EFT
  3. LST
  4. LFT
Answer

(D)LFT

QN31. PERT emphasis on ______________.

  1. Time
  2. Activity
  3. a) and b)
  4. None of the above
Answer

(A)Time

QN32. ______________ is an activity oriented diagram.

  1. CPM
  2. PERT
  3. Histogram
  4. None of the above
Answer

(A)CPM

QN33. In a decision theory problem under complete uncertainty, which one of the following approaches will not be possible?

  1. Expected monetary value
  2. Maxmin
  3. Minimax
  4. Hurwicz
Answer

(A)Expected monetary value

QN34. The equally likely decision criteria is also known as

  1. Bayes
  2. Laplace
  3. Minimax
  4. Hurwicz
Answer

(B)Laplace

QN35. Which of the following might be viewed as an optimistic decision criterion?

  1. Hurwicz criterion
  2. Maximin
  3. Maximax
  4. Minimax
Answer

(C)Maximax

QN36. While using Hurwicz criterion, the coefficient of realism

  1. Represents the degree of optimism
  2. Represents the degree of pessimism
  3. Is the probability of state of nature
  4. None of the above
Answer

(A)Represents the degree of optimism

QN37. Operations research approach is

  1. Multi disciplinary
  2. Scientific
  3. Intuitive
  4. All of the above
Answer

(A)Multi disciplinary

QN38. OR techniques helps to find ______________ solution

  1. Feasible
  2. Non feasible
  3. Optimal
  4. Non optimal
Answer

(C)Optimal

QN39. An organization chart is an example of

  1. Iconic
  2. Mathematical
  3. Analogue
  4. None of the above
Answer

(C)Analogue

QN40. Linear programming is a

  1. Constraint optimization technique
  2. Technique for economic allocation of limited resources.
  3. Mathematical technique
  4. all of the above
Answer

(D)all of the above

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