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in Principles of Management

These multiple-choice questions (MCQs) are designed to enhance your knowledge and understanding in the following areas: Computer Science Engineering (CSE) , Civil Engineering , Bachelor of Business Administration (BBA) , Bachelor of Tourism Studies (BTS) .

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201.

Activities that cannot be started until one or more of the other activities are completed, but immediately succeed them are called ……activities

A. Predecessor
B. Successor
C. Dummy
D. End
Answer» B. Successor
202.

An event which represents the beginning of more than one activity is known as ………..event.

A. Merge
B. Net
C. Burst
D. None of the above
Answer» C. Burst
203.

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

A. The problem is infeasible
B. The solution is unbounded
C. One of the constraints is redundant
D. None of the above
Answer» D. None of the above
204.

Constraint in LP problem are called active if they

A. Represent optimal solution
B. At optimality do not consume all the available resources
C. Both of (a) and (b)
D. None of the above
Answer» A. Represent optimal solution
205.

Alternative solutions exists 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
Answer» B. Objective function equation is parallel to one of the constraints
206.

While solving an LP problem, infeasibility may be removed by

A. Adding another constraint
B. Adding another variable
C. Removing a constraint
D. Removing a variable
Answer» C. Removing a constraint
207.

………is that sequence of activities which determines the total project time.

A. Net work
B. Critical path
C. Critical activities
D. None of the above
Answer» B. Critical path
208.

Activities lying on the critical path are called………….

A. Net work
B. Critical path
C. Critical activities
D. None of the above
Answer» C. Critical activities
209.

It ………. at which an activity can start.

A. EST
B. EFT
C. LST
D. LFT
Answer» A. EST
210.

………… is the earliest starting time plus activity time.

A. EST
B. EFT
C. LST
D. LFT
Answer» B. EFT
211.

………. 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» C. LST
212.

……….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» D. LFT
213.

……………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» B. Total float
214.

……… 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» C. Free float
215.

……….is activity oriented.

A. CPM
B. PERT
C. LP
D. None of the above
Answer» A. CPM
216.

………. is event oriented.

A. CPM
B. PERT
C. LP
D. None of the above
Answer» B. PERT
217.

PERT emphasis on ………..

A. Time
B. Activity
C. a) and b)
D. None of the above
Answer» A. Time
218.

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» A. Performance evaluation review technique
219.

…….. is a scheme or design of something intended or device.

A. Programme
B. Project
C. Network
D. Float
Answer» C. Network
220.

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» B. Predecessor
221.

The event is commonly represented by …… in network diagram

A. Nodes
B. Arrow
C. Triangle
D. None of these
Answer» A. Nodes
222.

…….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» C. Dummy
223.

…………. is an activity oriented diagram.

A. CPM
B. PERT
C. Histogram
D. None of the above
Answer» A. CPM
224.

………… 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» A. Total float
225.

………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» B. Optimistic time estimate
226.

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» C. EVPI
227.

If a decision theory problem has 3 decision alternatives and 4 states of nature, the number of payoffs in that problem will be

A. 3
B. 4
C. 12
D. 64
Answer» C. 12
228.

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» A. Expected monetary value
229.

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» B. Maximax
230.

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» C. Risk
231.

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» B. Decision making under certainty
232.

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» D. Have followed a logical process.
233.

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» D. Compute the posterior probabilities.
234.

The equally likely decision criteria is also known as

A. Bayes
B. Laplace
C. Minimax
D. Hurwicz
Answer» B. Laplace
235.

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» C. The difference between actual pay off and the optimal pay off
236.

The criteria of expected monetary value is used for making decisions under

A. Certainty
B. Uncertainty
C. Risk
D. all of the above
Answer» D. all of the above
237.

The maximax criteria is……..

A. Optimistic
B. Neutral
C. Pessimistic
D. Can be any one of the above
Answer» C. Pessimistic
238.

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

A. Hurwicz criterion
B. Maximin
C. Maximax
D. Minimax
Answer» C. Maximax
239.

The minimum EOL will always result in the same decision as

A. Minimax
B. Maximin
C. Maximum EMV
D. Maximax
Answer» C. Maximum EMV
240.

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» D. All of the above
241.

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

A. Maximin
B. Maximax
C. Minimax
D. Minimize expected loss
Answer» D. Minimize expected loss
242.

The minimum expected opportunity loss is

A. Equal to EVPI
B. Minimum regret
C. Equal to EMV
D. Both (a) and (b)
Answer» D. Both (a) and (b)
243.

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» A. EPPI – Minimum EMV
244.

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

A. Equally likely
B. Maximin
C. Realism
D. Maximin
Answer» C. Realism
245.

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» A. Represents the degree of optimism
246.

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» B. EMV
247.

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» D. All of the above
248.

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» A. Minimize total project duration
249.

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» B. The rim conditions are satisfied
250.

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» A. Balanced

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