Description : An objective function which states the determinants of the quantity to be either maximized or minimized is called_______ a. Feasible function b. Optimal function c. Criterion function d. None of the above
Last Answer : b. Optimal function
Description : For maximization in assignment problem, the objective is to maximize the a. Profit b. Optimization c. Cost d. None of the above
Last Answer : a. Profit
Description : 65. Any feasible solution which optimizes (minimizes or maximizes) the objective function of the LPP is called as _______ a. Optimal solution b. Non-basic variables c. Solution d. Basic Feasible solution
Last Answer : a. Optimal solution
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 : 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 : 53. While plotting constraints on a graph paper, terminal points on both the axes are connected by straight line because a. The resources are limited in supply b. The objective function as a linear function c. The constraints are linear equations or inequalities d. All of the above
Last Answer : c. The constraints are linear equations or inequalities
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
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 : . 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 : 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 : 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 : 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 : While solving an assignment problem, an activity is assigned to a resource through a square with zero opportunity cost because the objective is to a. Minimize total cost of assignment b. Reduce the cost of ... to zero c. Reduce the cost of that particular assignment to zero d. All of the above
Last Answer : c. Reduce the cost of that particular assignment to zero
Description : . For __________ minimization, we take least value from each column and subtract it from all values of that column. a. Column b. Row c. Profit d. Cost
Last Answer : a. Column
Description : For __________ minimization, we take least value from each row and subtract it from all values of that row. a. Column b. Row c. Profit d. Cost
Last Answer : b. Row
Description : 51. An iso-profit line represents a. An infinite number of solutions all of which yield the same profit b. An infinite number of solutions all of which incurs the same cost c. An infinite number of optimal solutions d. A boundary of the feasible region
Last Answer : . An infinite number of solutions all of which yield the same profit
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 : A ______ occurs when each player selects one of his strategies a. Profit b. Decision c. Play d. Game
Last Answer : c. Play
Description : If no. of rows are not equal to number of columns and the matrix elements are profit elements then the problem is: a. Balanced and Maximization Transportation problem b. ... Transportation problem c. Balanced and Maximization Assignment problem d. Unbalanced and Maximization Assignment problem
Last Answer : a. Balanced and Maximization Transportation problem
Description : If profit, sales, production, etc is given then it is _________ a. Balanced problem b. Unbalanced problem c. Maximization problem d. Minimization problem
Last Answer : c. Maximization problem
Description : Maximization problem, then convert into minimization table through _________ a. Row minimization b. Column minimization c. Regret matrix d. Profit matrix
Last Answer : c. Regret matrix
Description : 52. If an iso-profit yielding the optimal solution coincides with a constraint line, then a. The solution is unbounded b. The solution is infeasible c. The constraint which coincides is redundant d. None of the above
Last Answer : d. None of the above
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 : . Dual of the dual is _______ a. Primal b. Dual c. Alternative d. None of the above
Last Answer : a. Primal
Description : In simplex method, we add _______ variables in the case of “=” a. Slack variable b. Surplus variable c. Artificial variable d. None of the above
Last Answer : c. Artificial variable
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 : 64. If the feasible region of a LPP is empty, the solution is _______ a. Infeasible b. Unbounded c. Alternative d. None of the above
Last Answer : a. Infeasible
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 : Mean, median and mode are measures of _______ a. Central tendency b. Dispersion c. Probability d. maths
Last Answer : . central tendency
Description : 12. Operations Research involves various _______ to solve the problems a. Decisions b. Study c. Technique d. Applications
Last Answer : c. Technique
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 : An optimal assignment requires that the maximum number of lines that can be drawn through squares with zero opportunity cost be equal to the number of a. Rows or columns b. Rows & columns c. Rows + columns -1 d. None of the above
Last Answer : b. Rows & columns
Description : If cost, time, etc is given, then it is ________ a. Balanced problem b. Unbalanced problem c. Maximization problem d. Minimization problem
Last Answer : d. Minimization problem
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 ______ 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 : 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 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 : 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