# Principle and Practices of Management 5

Objective Questions and Answers of MBA: Principle and Practices of Management 5

Subject: Objective Questions and Answers of MBA: Principle and Practices of Management 5

Part 5: Objective questions and answers of Principles and Practices of Management

Q1. Which of the following criterion is not used for decision making under uncertainty?

a) Maximin

b) Maximax

c) Minimax

d) Minimize expected loss

Q2. ______________ is a series of related activities which result in some product or services.

a) Network

b) Transportation model

c) Assignment

d) None of these

Q3. ______________ 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

Q4. ______________ helps management to evaluate alternative course of action for selecting the best course of action

a) Operations research

b) Quantitative technique

c) Management research

d) None of the above

Q5. Which of the following as an assumption of an lp model

a) Divisibility

b) Proportionality

d) All of the above

Q6. 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

Q7. Activities lying on the critical path are called ______________

a) Net work

b) Critical path

c) Critical activities

d) None of the above

Q8. A physical model is an example of

a) An iconic model

b) An analogue model

c) A verbal model

d) A mathematical model

Q9. While solving lp problem graphically, the area bounded by the constraints is called

a) Feasible region

b) Infeasible region

c) Unbounded solution

d) None of the above

Q10. 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

Q11. 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.

Q12. Any activity which does not consume either any resource or time is called _______ activity.

a) Predecessor

b) Successor

c) Dummy

d) End

Q13. ______________ 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

Q14. 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

Q15. ______________ is a scheme or design of something intended or device.

a) Programme

b) Project

c) Network

d) Float

Q16. It ______________ at which an activity can start.

a) Est

b) Eft

c) Lst

d) Lft

Q17. For decision making under uncertainty, identify the decision rule that is appropriate for the optimist.

a) Laplace

b) Maximax

c) Minimax regret

d) Maxmin

Q18. ______________ is known as symbolic model

a) Iconic

b) Mathematical

c) Analogue

d) None of the above

Q19. ______________ is activity oriented.

a) Cpm

b) Pert

c) Lp

d) None of the above

Q20. 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.

Part 5: Objective questions and answers of Principles and Practices of Management