Description : Which of the followings is an assumption of Linear Programming Technique? a. Divisibility b. Additivity c. Proportionality d. All of the above
Last Answer : d. All of the above
Description : 42. _____ assumption means the prior knowledge of all the coefficients in the objective function , the coefficients of the constraints and the resource values a. Proportionality b. Certainty c. Finite choices d. Continuity
Last Answer : b. Certainty
Description : 59. Alternative solutions exist of an LP model when a. One of the constraints is redundant b. Objective function equation is parallel to one of the constraints c. Two constraints are parallel d. All of the above
Last Answer : b. Objective function equation is parallel to one of the constraints
Description : 58. While solving a LP model graphically, the area bounded by the constraints is called a. Feasible region b. Infeasible region c. Unbounded solution d. None of the above
Last Answer : a. Feasible region
Description : 57. The solution space(region) of an LP problem is unbounded due to a. An incorrect formulation of the LP model b. Objective function is unbounded c. Neither a nor b d. Both a & b
Last Answer : b. Objective function is unbounded c. Neither a nor b
Description : 54. A constraint in an LP model becomes redundant because a. Two iso-profits may be parallel to each other b. The solution is unbounded c. This constraint is not satisfied by the solution values d. None of the above
Last Answer : d. None of the above
Description : 40. Which of the following is a limitation associated with an LP model a. The relationship among decision variables is linear b. No guarantee to get integer valued solutions c. No considerations of effect of time & uncertainty on LP model d. All of the above
Description : . Non-negativity condition in an LP model implies a. A positive coefficient of variables in objective function b. A positive coefficient of variables in any constraint c. Non-negative value of resources d. None of the above
Last Answer : d. None of the Above
Description : 31. Constraints in an LP model represents a. Limitations b. Requirements c. Balancing limitations & requirements d. All of the above
Description : 30. The distinguishing feature of an LP model is a. Relationship among all variables is linear b. It has single objective function & constraints c. Value of decision variables is non-negative d. All of the above
Last Answer : a. Relationship among all variables is linear
Description : 29. A constraint in an LP model restricts a. Value of objective function b. Value of a decision variable c. Use of the available resources d. All of the above
Description : 27. The mathematical model of an LP problem is important because a. It helps in converting the verbal description & numerical data into mathematical expression b. Decision-makers prefer to ... captures the relevant relationship among decision factors d. It enables the use of algebraic technique
Last Answer : a. It helps in converting the verbal description & numerical data into mathematical expression
Description : 62. If one of the constraint of an equation in an LP problem has an unbounded solution, then a. Solution to such LP problem must be degenerate b. Feasible region should have a line segment c. Alternative solutions exists d. None of the above
Last Answer : b. Feasible region should have a line segment
Description : 61. If a non-redundant constraint is removed from an LP problem then a. Feasible region will become larger b. Feasible region will become smaller c. Solution will become infeasible d. None of the above
Last Answer : a. Feasible region will become larger
Description : 60. While solving a LP problem, infeasibility may be removed by a. Adding another constraint b. Adding another variable c. Removing a constraint d. Removing a variable
Last Answer : c. Removing a constraint
Description : 56. Constraints in LP problem are called active if they a. Represent optimal solutions b. At optimality do not consume all the available resources c. Both a & b d. None of the above
Last Answer : a. Represent optimal solutions
Description : 50. Which of the following statements is true with respect to the optimal solution of an LP problem? a. Every LP problem has an optimal solution b. Optimal solution of an LP problem always occurs ... completely used d. If an optimal solution exists, there will always be at least one at a corner
Last Answer : d. If an optimal solution exists, there will always be at least one at a corner
Description : 49. A feasible solution to an LP problem a. Must satisfy all of the problem’s constraints simultaneously b. Need not satisfy all of the constraints, only some of them c. Must be a corner point of the feasible solution d. Must optimize the value of the objective function
Last Answer : a. Must satisfy all of the problem’s constraints simultaneously
Description : 48. The graphical method of LP problem uses a. Objective function equation b. Constraint equations c. Linear equations d. All of the above
Description : 45. LP is a major innovations since _______ in the field of business decision-making, particularly under conditions of certainty a. Industrial Revolution b. World War I c. World War II d. French Revolution
Last Answer : c. World War II
Description : 37. Which of the following is not a characteristics of the LP a. Resources must be limited b. Only one objective function c. Parameters value remains constant during the planning period d. The problem must be of minimization type
Last Answer : d. The problem must be of minimization type
Description : A common assumption about the players in a game is that a. Neither player knows the payoff matrix b. The players have different information about the payoff matrix c. Only one of the players pursues a rational strategy d. The specific identify of the players is irrelevant to the play of the game
Last Answer : d. The specific identify of the players is irrelevant to the play of the game
Description : An assumption that implies that finite numbers of choices are available to a decision-maker and the decision variables do not assume negative values is known as _______ a. Certainty b. Continuity c. Finite choices d. None of the above
Last Answer : c. Finite choices
Description : What network model enables engineer managers to schedule, monitor and control large and complex projects by employing three time estimates per activity a. Forecasting b. Program evaluation review technique c. Critical path method d. simulation
Last Answer : b. Program evaluation review technique
Description : What network model enables engineer managers to schedule, monitor and control large and complex projects by using only one time factor per activity a. Forecasting b. Program evaluation review technique c. Critical path method d. simulation
Description : 35. Which of the following is not a characteristic of the L P model a. Alternative courses of actions b. An objective function of maximization type c. Limited amount of resources d. Non-negativity condition on the value of decision variable
Last Answer : b. An objective function of maximization type
Description : 34. Maximization of objective function in an L P model means a. Value occurs at allowable set of decisions b. Highest value is chosen among allowable decisions c. Neither of above d. Both a & b
Last Answer : a. Value occurs at allowable set of decision
Description : 33. Before formulating a formal L P model it is better to a. Express each constrain in words b. Express the objective function in words c. Verbally identify decision variables d. All of the above
Description : 2. Non-Negativity condition is an important component of L P model because a. Variables value should remain under the control of the decision-maker b. Value of variables make sense & correspond to real-world problems c. Variables are interrelated in terms of limited resources d. None of the above
Last Answer : b. Value of variables make sense & correspond to real-world problems
Description : Every combination of strategies determines an outcome known as _____ a. Regret b. Payoff c. Saddle point d. Profit matrix
Last Answer : b. Payoff
Description : The choice of the strategy is made by both the _________ simultaneously a. Decision maker b. Manager c. Competitor d. Player
Last Answer : Player
Description : A ______ occurs when each player selects one of his strategies a. Profit b. Decision c. Play d. Game
Last Answer : c. Play
Description : A ______ is the one in which the player selects more than one strategy with fixed probabilities before playing the game. a. Mixed strategy b. Pure strategy c. Complete strategy d. Impure strategy
Last Answer : d. Impure strategy
Description : A _______ provides a complete definition of how a player will play a game a. Mixed strategy b. Pure strategy c. Complete strategy d. Impure strategy
Last Answer : c. Complete strategy
Description : The various alternatives or courses of actions available to each player in a game are called as ____ a. Saddle points b. Strategies c. Pay-off d. Gains
Last Answer : b. Strategies
Description : A situation in a game where, in the payoff matrix, maximin of row is equal to minimax of column is called___ a. Centre point b. Main point c. Saddle point d. Equal point
Last Answer : c. Saddle point
Description : In a game, the alternatives or courses of action available to each player are called _____ a. Options b. Choices c. Actions d. strategies
Last Answer : d. strategies
Description : The participants in a game are called ______ a. Clients b. Members c. Customers d. Players
Last Answer : d. Players
Description : . In a zero-sum game, a. What one player wins, the other loses b. The sum of each player’s winnings if the game is played many times must be zero c. The game is fair-each person has an equal chance of winning d. Long-run profits must be zero
Last Answer : a. What one player wins, the other loses
Description : A strategy that is best regardless of what rival players do is called a. First-mover advantage b. A Nash equilibrium strategy c. Tit-for-tat d. A dominant strategy
Last Answer : d. A dominant strategy
Description : In game theory, the outcome or consequence of a strategy is referred to as the a. Payoff b. Penalty c. Reward d. End-game strategy
Last Answer : a. Payoff
Description : What is a saddle point? a. Equilibrium point b. Balanced growth point c. Imbalanced growth point d. Unstable equilibrium point
Last Answer : c. Imbalanced growth point
Last Answer : a. Equilibrium point
Description : Who developed the Game Theory a. J.R. Hicks b. William J. Baumol c. Neumann Morgenstern d. Samuelson P.T.
Last Answer : c. Neumann Morgenstern
Description : In project crashing, as we systematically, crash the project, direct cost of project ______ a. Increases b. Decreases c. Remain same d. None of the above
Last Answer : a. Increases
Description : Floats for critical activities will be always _____ a. One b. Zero c. Highest d. Same as duration of the activity
Last Answer : b. Zero
Description : An activity whose start or end cannot be delay without affecting total project completion time is called ______ activity a. Dummy b. Non-critical c. Critical d. Important
Last Answer : c. Critical
Description : Backward pass calculations are done to find ________ occurrence times of events a. Tentative b. Definite c. Latest d. Earliest
Last Answer : c. Latest
Description : Forward pass calculations are done to find _____ occurrence times of events a. Exact b. Earliest c. Latest d. Approximate
Last Answer : b. Earliest
Description : The second longest path in the network diagram is called a. Alternate b. Feasible c. Sub-critical d. Critical
Last Answer : c. Sub-critical