Operations Research Mid - II, November - 2014

1.When the values of decision variables change with time, then these situations are considered to be
  • static
  • dynamic
  • both A or B
  • none of these
Answer: B
2.Dynamic programming is based on _____________________ principle of optimality
  • Big-M
  • Bellman’s
  • Baye’s
  • none of these
Answer: B
3.Dynamic programming is a mathematical technique dealing with optimization of ____________ decision problems
  • single stage
  • double stage
  • multi stage
  • None of these
Answer: C
4.The father of game theory is
  • Morgenstren
  • Von Neumann
  • A.K.Erlang
  • none of these
Answer: B
5.The game theory is based on the minimax principle, which implies that each competitor will act so as to
  • minimize his maximum loss
  • maximize his minimum gain
  • both A and B
  • None of these
Answer: C
6.The replacement policy, consists of calculating the
  • increased operating cost
  • maintenance cost
  • cost of replacing
  • all of these
Answer: D
7.Old item is replaced by a new one, when repair and maintenance costs are
  • less than the cost of new one
  • equal than the cost of new one
  • more than the cost of new one
  • none of these
Answer: C
8.If the repair and maintenance costs decrease or remain constant with time, then the best policy is
  • replace the item
  • never replace the item
  • either A or B
  • none of these
Answer: B
9.Movement inventories are also called as
  • pipeline stocks
  • buffer stocks
  • motion stocks
  • none of these
Answer: A
10.The cost related to inventory control models are
  • inventory carrying costs
  • set up costs
  • shortage costs
  • all of these
Answer: D
11.In dynamic programming, the outcome of decisions depends upon a______________ number of variables
Answer: Few
12.The problem is broken down into sub-problems and each sub-problem is referred to as a ____________
Answer: Stage
13.If a player decides to use only one particular course of action during every play, he is said to use a ___________________
Answer: Pure strategy
14.Two-person zero-sum games are also called as ____________________ games
Answer: Rectangular
15.A _______________ is a table showing the amounts received by the player named at the left hand side after all possible plays of the game
Answer: Pay off matrix
16.The annual cost of the item at any time t = capital cost - ________________ + maintenance cost at time t.
Answer: Scrap value
17.If there is no change of decision variables with time then the situation is considered ____________ situation.
Answer: Static
18.______________________ policy is one, in which all items are replaced, irrespective of their failures
Answer: Group replacement
19.The process of ascertaining independent demand by extrapolating the past demand history is known as __________________
Answer: Forecasting
20.R.O.L. stands for _____________________
Answer: Re Order Level