 Question 1

2 out of 2 points
___________ strategy is the decision rule which is always followed by the player to
select the particular course of action.

Selected Answer: Pure

Answers: Clean

Big

Formal

Pure

 Question 2
2 out of 2 points
VAM stands for Vogels Approximation ___________________.

Selected Answer: Method

Answers: Machine

Maximization

Minimization

Method

 Question 3
0 out of 2 points
This decision-making is referred to as the minimax-maximin principle to obtain the
best possible selection of a strategy for the ____________.

Selected Answer: Player

Answers: Player

Game

Calculations

Strategies

 Question 4
2 out of 2 points
The reasoning takes place in the decision making rectangle which is sometimes
referred to as, quite appropriately, the ____________ box.

Selected Answer: Black

Answers: Blue

Red

Pink

Black
 Question 5
2 out of 2 points
In industry optimization means the minimization of ____________ and the
maximization of profits.

Selected Answer: Cost

Answers: Cost

Labour

Land

Time

 Question 6
2 out of 2 points
The solution to a transportation problemwith m-rows and n-coloumns (destination)
is feasible if number of positive allocations are-:

Selected Answer: m+n-1

Answers: m+n-1

m+n

mxn

m+n+1

 Question 7
2 out of 2 points
In Assignment models, only ___________ unit can be supplied to each destination from
each source.

Selected Answer: One

Answers: One

Five

Ten

Zero
 Question 8
2 out of 2 points
Game Theory is the _______________ conflict.

Selected Answer: Science

Answers: Geographical

Mathemetical

Science

Theoretical
 Question 9
2 out of 2 points
In a game with two players, if the gain of one player is equal to the loss of another
player, then the game is a two person ___________________ game.

Selected Answer: Zero-sum

Answers: One-sum

All-sum

Zero-sum

Few-sum

 Question 10
2 out of 2 points
A strategy can also be dominated when it is _____________ to an average of two or
more pure strategies.

Selected Answer: Inferior

Answers: Smaller

Inferior

Lesser

Superio
r

 Question 11
2 out of 2 points
Game Theory is applicable to those competitive situations which are technically
known as “_______________ games”.

Selected Answer: Competitive

Answers: Competitive

Outdoor

Modelling

Indoor

 Question 12
2 out of 2 points
If the maximin value is equal to minimax value, the game has a _____________ point.

Selected Answer: Saddle

Answers: Starting

Ending

Saddle
 Formal

 Question 13
2 out of 2 points
To convert the unbalanced transportation problem into a balanced problem, add a
_____________ destination.

Selected Answer: Dummy

Answers: Extra

Dummy

Single

Double

 Question 14
2 out of 2 points
A _____________ problem can be tabulated in a matrix called transportation matrix.

Selected Answer: Transportation

Answers: Mathemetical

Geographical

Liner

Transportation

 Question 15
4 out of 4 points
_____________ loss It is incurred due to failure of not adopting most favourable course
of action or strategy.

Selected Answer: Oppurtunity

Answers: Operating

Operational

Oppurtunity

Production

 Question 16
0 out of 4 points
_____________is the effectiveness of particular combination of a course of action and
state of nature.

Selected Answer: None

Answers: Payoff

Payload
 Payfactor

None

 Question 17
4 out of 4 points
A linear function is never an ideal model of production __________________.

Selected Answer: Cost

Answers: Cost

Income

Loss

All Three

 Question 18
4 out of 4 points
The objective of a diet problem is to ascertain the quantities of foods that should be
eaten to meet certain nutritional requirement at a ___________ cost.

Selected Answer: Minimum

Answers: Maximum

Reduced

Increased

Minimum

 Question 19
4 out of 4 points
The linear function which is to be optimized is called ______________ Function.

Selected Answer: Objective

Answers: Objective

Frequent

Revenue

Continuity

 Question 20
3 out of 3 points
Vectors can have more than two elements, but two vectors can only be added
together if both have the same number of _________________.

Selected Answer: Elements

Answers: Variables

Vector
 Elements

Formulaes

 Question 21
3 out of 3 points
Row operations can deal with a set of equations that are not all ___________.

Selected Answer: Independent

Answers: Dependent

Single

Different

Independent

 Question 22
3 out of 3 points
In a matrix of transition probability,the element aij where i=j is a

Selected Answer: Retension

Answers: Retension

Gain

Loss

None

 Question 23
3 out of 3 points
A matrix consisting of m rows and n columns, where m  n, is called a _______________
matrix.

Selected Answer: Rectangular

Answers: Singular

Rectangular

Square

Circular

 Question 24
1 out of 1 points
When each element in a row are less than or equal to the corresponding element in
another row, this row is dominated and hence can be deleted from the payoff matrix
this is called as format Dominance.
Selected Answer: False
Answers: True
False
 Question 25
 1 out of 1 points
Probability sampling methods are those in which every item in the universe has a
known chance or probability of being included in the sample
Selected Answer: True
Answers: True
False
 Question 26
1 out of 1 points
This definition of probability is called the classical or a priories definition of
probability
Selected Answer: True
Answers: True
False
 Question 27
1 out of 1 points
zero is a type of Assignment problem.
Selected Answer: False
Answers: True
False
 Question 28
0 out of 1 points
payoff is the effectiveness of particular combination of a course of action and state
of nature.
Selected Answer: False
Answers: True
False
 Question 29
1 out of 1 points
Data must be numerically expressed in measurable units
Selected Answer: True
Answers: True
False
 Question 30
1 out of 1 points
Positional averages do not use stas calculations but give you an indication about the
positional characteristics of certain items.
Selected Answer: False
Answers: True
False
 Question 31
1 out of 1 points
Each outcome determines the or choices of each player.
Selected Answer: False
Answers: True
False
 Question 32
 1 out of 1 points
The given problem in dual is known as formal
Selected Answer: False
Answers: True
False
 Question 33
1 out of 1 points
A matrix having only one row is called a row matrix.
Selected Answer: True
Answers: True
False
 Question 34
1 out of 1 points
In industry optimization means the minimization of labour and the maximization of
profits.
Selected Answer: False
Answers: True
False
 Question 35
1 out of 1 points
An individual/group responsible for making a choice of appropriate course of action
is known as Decision maker
Selected Answer: True
Answers: True
False
 Question 36
1 out of 1 points
In stochastic decision the decision maker knows the likelihood of the occurrence of
each of state of nature.The probability of occurrence of each state is known.
Selected Answer: True
Answers: True
False
 Question 37
1 out of 1 points
The factors of production are land, labour, capital and water.
Selected Answer: False
Answers: True
False
 Question 38
1 out of 1 points
A state is said to be absorbing (trapping) state if it does not leave the state.
Selected Answer: True
Answers: True
False
 Question 39
1 out of 1 points
 The solution to a transportation problemwith m-rows and n-coloumns (destination)
is feasible if number of positive allocations are-: m+n
Selected Answer: False
Answers: True
False
 Question 40
1 out of 1 points
A sampling design is a definite plan for obtaining a sample from the sampling frame
Selected Answer: True
Answers: True
False
 Question 41
1 out of 1 points
The selection of strategy by player B is based on minimax principle.
Selected Answer: True
Answers: True
False
 Question 42
1 out of 1 points
Averages help in obtaining a picture of the universe with the help of accuracy
Selected Answer: False
Answers: True
False
 Question 43
1 out of 1 points
Buying a house, manufacturing a product, spending money on a show are examples
of Land.
Selected Answer: False
Answers: True
False
 Question 44
0 out of 1 points
The control system function is to optimize the transformation of inputs into the
desired Form.
Selected Answer: False
Answers: True
False
 Question 45
1 out of 1 points
mode is that value which has the maximum frequency (i.e. occurs most often) in a
given set of values.
Selected Answer: True
Answers: True
False
 Question 46
1 out of 1 points
 A matrix is a rectangular or square array of numbers arranged into rows and
columns, where the numbers acquire meaning from their position in the array.
Selected Answer: True
Answers: True
False
 Question 47
0 out of 1 points
Markov Process is a sequence of experiments in which each experiment has certain
possible outcomes
Selected Answer: False
Answers: True
False
 Question 48
1 out of 1 points
When the player has alternative courses of action and he has to select combination
of these with some fixed probabilities are known to as none strategy.
Selected Answer: False
Answers: True
False
 Question 49
1 out of 1 points
propotion means all relationships in objective functions and constraints are linear.
Selected Answer: True
Answers: True
False
 Question 50
0 out of 1 points
mean could be finite or infinite depending upon the number of elements in it.
Selected Answer: True
Answers: True
False
 Question 51
1 out of 1 points
The computer has forced the decision maker to very carefully delineate and quantify
the variables that makeup the building blocks of the Decision task.
Selected Answer: True
Answers: True
False
 Question 52
1 out of 1 points
In the guesstimate conceptual model the forecast is based on expert opinion.
Selected Answer: True
Answers: True
False
 Question 53
0 out of 1 points
 The set of values of the variable is known as the domain of the variable.
Selected Answer: False
Answers: True
False
 Question 54
1 out of 1 points
Harmonic mean isdefined as the reciprocal of the arithmetic mean of the stats
Selected Answer: False
Answers: True
False
 Question 55
1 out of 1 points
The behaviour of the dependent variable with respect to change in independent
variable(s) is different in different Forms
Selected Answer: False
Answers: True
False
 Question 56
1 out of 1 points
diagonal or interior-point methods, by contrast, visit points within the interior of the
feasible region.
Selected Answer: False
Answers: True
False
 Question 57
1 out of 1 points
Row operations can deal with a set of equations that are not all single
Selected Answer: False
Answers: True
False
 Question 58
0 out of 1 points
Systematic sampling is a variation of simple random sampling
Selected Answer: False
Answers: True
False
 Question 59
1 out of 1 points
sampling can be defined as the selection of some part of an aggregate or totality on
the basis of which a judgment or inference about the aggregate or totality is made.
Selected Answer: True
Answers: True
False
 Question 60
1 out of 1 points
 In calculating simple arithmetic mean it is assumed that all items were equal in
importance.
Selected Answer: True
Answers: True
False
 Question 61
0 out of 1 points
The aim of the game is to determine how the players must select their respective
strategies such that the pay-off is reduced
Selected Answer: True
Answers: True
False
 Question 62
1 out of 1 points
A linear function is never an ideal model of production cost
Selected Answer: True
Answers: True
False
 Question 63
1 out of 1 points
Errors due to calculations or improper convention of observation are called more
sampling errors.
Selected Answer: False
Answers: True
False

 Question 1
0 out of 1 points
Ordinarily items with values less than the average cancel out the items whose values
are greater than the average.
Selected Answer: False
Answers: True
False
 Question 2
1 out of 1 points
middle management decisions are primarily company-wide in nature.
Selected Answer: False
Answers: True
False
 Question 3
1 out of 1 points
formal Decisions are concerned with structuring and acquisition of the organization’s
resources so as to optimize the performance of the organization.
Selected Answer: False
Answers: True
False
 Question 4
1 out of 1 points
A matrix is a rectangular or square array of numbers arranged into rows and
columns, where the numbers acquire meaning from their position in the array.
Selected Answer: True
Answers: True
False
 Question 5
0 out of 1 points
cost is more economical than primary data, since data is already available.
Selected Answer: False
Answers: True
False
 Question 6
1 out of 1 points
Data must be collected within the cost framework
Selected Answer: True
Answers: True
False
 Question 7
1 out of 1 points
Number of values can be solved manually when there are two or three variables, in
case of large number of variables computing can be done through software only.
Selected Answer: False
Answers: True
False
 Question 8
1 out of 1 points
Errors also arises due to the faulty planning resulting in improper definition of the
problem statement.
Selected Answer: True
Answers: True
False
 Question 9
1 out of 1 points
In industry, it is ultimately some kind of product, that is, a good service or on Idea.
Selected Answer: True
Answers: True
False
 Question 10
1 out of 1 points
Random variables can be grouped into probability distribution, which can be either
discrete or inlined
Selected Answer: False
Answers: True
False
 Question 11
1 out of 1 points
We use the word forecast when some logical method is used.
Selected Answer: True
Answers: True
False
 Question 12
1 out of 1 points
Quantity demanded is a dependent variable while price is an independent variable.
Selected Answer: True
Answers: True
False
 Question 13
1 out of 1 points
A variable, the building block of the decision task, may be seen as a small piece of a
complex Behaviour.
Selected Answer: True
Answers: True
False
 Question 14
1 out of 1 points
Averages help in obtaining a picture of the universe with the help of accuracy
Selected Answer: False
Answers: True
False
 Question 15
1 out of 1 points
direct method is the most commonly used method of data collection, especially in
studies relating to production management and behavioural sciences.
Selected Answer: False
Answers: True
False
 Question 16
1 out of 1 points
The factors of production are land, labour, capital and water.
Selected Answer: False
Answers: True
False
 Question 17
0 out of 1 points
To solve any managerial problem that you face in the organization you need relevant
sources
Selected Answer: True
Answers: True
False
 Question 18
 1 out of 1 points
Vectors can have more than two elements, but two vectors can only be added
together if both have the same number of vector
Selected Answer: False
Answers: True
False
 Question 19
1 out of 1 points
Variables are the terms used for economic quantities that can assume any values
within a given set.
Selected Answer: False
Answers: True
False
 Question 20
1 out of 1 points
Shortcut method is the method of game solving.
Selected Answer: True
Answers: True
False
 Question 21
1 out of 1 points
Linear Programming is applied to minimize the labour or maximize the profit.
Selected Answer: False
Answers: True
False
 Question 22
1 out of 1 points
quota sampling is a special form of stratified sampling.
Selected Answer: True
Answers: True
False
 Question 23
1 out of 1 points
In a matrix of transition probability,the element aij where i=j is a loss
Selected Answer: False
Answers: True
False
 Question 24
1 out of 1 points
Theory of equations is frequently used in solving the problems of business
Selected Answer: True
Answers: True
False
 Question 25
1 out of 1 points
 Central tendency refers to the middle point of a statistical distribution and is also
known as an average
Selected Answer: True
Answers: True
False
 Question 26
1 out of 1 points
The objective of transportation problem is to minimize the cost of transportation
under the given supply and demand constraints.
Selected Answer: True
Answers: True
False
 Question 27
1 out of 1 points
The outcome of the play depends on every combination of courses of actions
Selected Answer: True
Answers: True
False
 Question 28
1 out of 1 points
A decisions tree is a decision flow diagram that includes branches leading to
alternatives one can select among the usual branches leading to events that depend
on probabilities.
Selected Answer: True
Answers: True
False
 Question 29
1 out of 1 points
A numeric value that indicate singularity or non-singularity of a square matrix is
called none
Selected Answer: False
Answers: True
False
 Question 30
1 out of 1 points
If the maximin value is equal to minimax value, the game has a ending point.
Selected Answer: False
Answers: True
False
 Question 31
1 out of 1 points
Linear Programming was introduced by george Dantzig in 1947.
Selected Answer: True
Answers: True
False
 Question 32
 1 out of 1 points
A liner problem can be tabulated in a matrix called transportation matrix.
Selected Answer: False
Answers: True
False
 Question 33
5 out of 5 points
Independent variables are those variables whose values are not governedby the
______________ of another variable.

Selected Answer: Values

Answers: Rules

Regulations

Laws

Values

 Question 34
5 out of 5 points
The quantity demanded depends upon the price and, therefore, for a given price, we
can determine the quantity _________________.

Selected Answer: Demanded

Answers: Demanded

Supplied

Received

Damaged

 Question 35
5 out of 5 points
Function form only tells us that there is a ____________ between the variables.

Selected Answer: Relationships

Answers: Equations

Relationships

Policies

Formulations

 Question 36
5 out of 5 points
Once the conceptual model has been properly designed, the quantitative model and
its algorithms should almost “___________” out of it.

Selected Answer: Flow

Run

Fly

None

 Question 37
2 out of 2 points
A decision always involves choice among several _______________.

Selected Answer: Alternatives

Answers: Alternatives

Problems

Decisions

None

 Question 38
2 out of 2 points
No player is aware of his opponent's _____________ until he decides his own.

Selected Answer: Choices

Answers: Strategies

Choices

Policies

Theories

 Question 39
2 out of 2 points
The aim of the game is to determine how the players must select their respective
strategies such that the pay-off is _____________.

Selected Answer: Optimized

Answers: Reduced

Maximized

Minimized

Optimized

 Question 40
2 out of 2 points
___________ strategy is the decision rule which is always followed by the player to
select the particular course of action.

Selected Answer: Pure

Big

Formal

Pure

 Question 41
2 out of 2 points
If an oppurtunity cost value is used for an unused cell to test optimally,it should be-:

Selected Answer: Most negetive No.

Answers: Equal to zero

Any value

Most negetive No.

Most Positive No

 Question 42
2 out of 2 points
When the total supply of all the sources is not equal to the total demand of all
destinations, the problem is an _______________ transportation problem.

Selected Answer: Unbalanced

Answers: Balanced

Difficult

Proper

Unbalanced

 Question 43
2 out of 2 points
Game Theory is the _______________ conflict.

Selected Answer: Science

Answers: Geographical

Mathemetical

Science

Theoretical

 Question 44
2 out of 2 points
A game is played when each player chooses a course of action (strategy) out of the
available _______________.

Selected Answer: Strategies

Theories

Value

Strategies

 Question 45
2 out of 2 points
If this _______________ condition is not satisfied, degeneracy occurs.

Selected Answer: Co = m+n-1

Answers: m+n-1

Co = m+n-1

m-1

Co=n-1

 Question 46
2 out of 2 points
The __________________ model of linear programming is a flow optimization technique.

Selected Answer: Transportation

Answers: Linear

Transportation

Mathemetical

Scientific

 Question 47
0 out of 2 points
_____________ of a game is the average payoff per play of game over an extended of
time.

Selected Answer: Value

Answers: Player

Calculations

Value

Potencial

 Question 48
2 out of 2 points
A _____________ problem can be tabulated in a matrix called transportation matrix.

Selected Answer: Transportation

Answers: Mathemetical
 Geographical

Liner

Transportation

 Question 49
2 out of 2 points
The factors of production are land, labour, capital and _________________.

Selected Answer: Enterpreneurship

Answers: Water

Air

Food

Enterpreneurship

 Question 50
2 out of 2 points
When the player has alternative courses of action and he has to select combination
of these with some fixed probabilities are known to as ____________ strategy.

Selected Answer: Mixed

Answers: Pure

Mixed

Informal

None

 Question 51
2 out of 2 points
The method to solve assignment problems wasn introduced by ______________, a
Hungarian mathematician.

Selected Answer: D.Koing

Answers: S.Phunsuk

D.Koing

J.Timothy

H.Hound

 Question 52
2 out of 2 points
Satisfying refers to the attainment of certain minimum ______________.

Selected Answer: Objectives

Answers: Work
 Time

Labours

Objectives

 Question 53
4 out of 4 points
An individual/group responsible for making a choice of appropriate course of action
is known as Decision ______________.

Selected Answer: Maker

Answers: Waste

Maker

Taker

Made

 Question 54
4 out of 4 points
The objective should be defined ______________.

Selected Answer: Explicitly

Answers: Explicitly

Implicitly

Both

None

 Question 55
0 out of 4 points
On the graph the values of chair (X) are represented by ____________ along
thehorizontal line and value of table (Y) along the vertical line.

Selected Answer: Symbols

Answers: Symbols

Rupees

Horizontal

Vertical

 Question 56
4 out of 4 points
A linear function is never an ideal model of production __________________.

Selected Answer: Cost

Answers: Cost
Income

Loss

All Three