Deck 5: Linear Programming Models and Techniques

Question 1

. ………. . is a method of analyzing the current movement of the same variable in an effort to predict the future movement of the same variable.

A) Goal programming
B) Markov analysis
C) Replacement theory
D) Queuing theory

Answer 1

Markov analysis

Question 2

For analyzing a problem, decision-makers should study

A) Its qualitative aspects
B) Its quantitative aspects
C) Both a & b
D) Neither a nor b

Answer 2

Both a & b

Question 3

Decision variables are

A) Controllable
B) Uncontrollable
C) Parameters
D) None of the above

Answer 3

Controllable

Question 4

Managerial decisions are based on

A) An evaluation of quantitative data
B) The use of qualitative factors
C) Results generated by formal models
D) All of the above

Question 5

The use of decision models

A) Is possible when the variables value is known
B) Reduces the scope of judgement & intuition known with certainty in decision-making
C) Require the use of computer software
D) None of the above

Question 6

Every mathematical model

A) Must be deterministic
B) Requires computer aid for its solution
C) Represents data in numerical form
D) All of the above

Question 7

A physical model is example of

A) An iconic model
B) An analogue model
C) A verbal model
D) A mathematical model

Question 8

An optimization model

A) Provides the best decision
B) Provides decision within its limited context
C) Helps in evaluating various alternatives
D) All of the above