Production Management Part-1 Complex Model MCQs

  1. A basic solution which also satisfies the condition in which all basic variables are non -negative is called —————-

a) Basic feasible solution

b) Feasible solution

c) Optimal solution

d) None of the above

2. 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) All of the above

3. Any feasible solution to a transportation problem containing m origins and n destinations is said to be ————-

a Independent

b Degenerate

c Non-degenerate

d All

4.A firm’s inventory planning period is one year. Its inventory requirement for this period is 350 units. Assume that its acquisition costs are Rs. 50 per order. The carrying costs are expected to be Rs. 1 per unit per year for an item. What is EOQ?

(A) 800 units

(B) 200 units

(C) 100 units

(D) None of the above

5.Match the following:

            List – I                                                                                    List – II

a.Any physically identifiable part of a project                     i. Network

b.The terminal point of an activity                                         ii. Event

c.The longest chain in the Network                                       iii. Activity

d.Logically and sequentially connected arrows and nodes  iv. Critical path

 Codes:

     a b c d

(A) i ii iii iv

(B) iii ii iv i

(C) ii iv i iii

(D) iv i ii iii




6.If the EOQ for an item of inventory in a firm is 1000 units, the estimated demand for the term next year gets doubled, what shall be the revised EOQ next year, all other relevant costs remaining unchanged ?

(A) 1000

(B) 1414

(C) 2000

(D) None of the above

7 What is meant by ‘Payoffs’ ?

a Outcome of a game when different alternatives are adopted by players

b No. of players involved in a game

c Value of a game

d Strategies used by players

8. Which of the following is true of an optimal solution to a LPP?

a.Every LP has an optimal solution

b.The optimal solution always occur at extreme points

c.If an optimal solution exists, there will always be at least one solution at a corner

d.All of the given




9.Which of the following is not a major requirement of a Linear Programming Problem?

a.There must be alternative course of action among which to decide

b.An objective for the firm must exist

c.The problem must be of minimization type

d.Resources must be limited

10.In a departmental store customers arrive at a rate of 30 customers per hour. the average number of customers that can be handled by cashier is 48 per hour. What portion of times that cashier is busy?

a 1/2

b 2/12

c 50

d None

Answers: 1-a, 2-c, 3-c, 4-d, 5-b, 6-b, 7-a, 8-d, 9-c, 10-d

 

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