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Principles of Management MCQs | Page - 55

Dear candidates you will find MCQ questions of Principles of Management here. Learn these questions and prepare yourself for coming examinations and interviews. You can check the right answer of any question by clicking on any option or by clicking view answer button.

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Mr. Dubey • 51.17K Points
Coach

Q. 541) 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
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Mr. Dubey • 51.17K Points
Coach

Q. 542) 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
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Mr. Dubey • 51.17K Points
Coach

Q. 543) 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.
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Mr. Dubey • 51.17K Points
Coach

Q. 544) 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.
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Mr. Dubey • 51.17K Points
Coach

Q. 545) The equally likely decision criteria is also known as

(A) Bayes
(B) Laplace
(C) Minimax
(D) Hurwicz
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Mr. Dubey • 51.17K Points
Coach

Q. 546) 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
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Mr. Dubey • 51.17K Points
Coach

Q. 547) A feasible solution to a linear programming problem

(A) Must satisfy all problem constraints simultaneously
(B) Need not satisfy all constraints
(C) Must be a corner point of the feasible region
(D) Must optimize the value of the objective function
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Mr. Dubey • 51.17K Points
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Q. 548) While plotting constraints on a graph paper, terminal points on both axes are connected by a straight line because

(A) The resources are limited in supply
(B) The objective function is a linear function
(C) The constraints are linear equations or in equalities
(D) all of the above
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Mr. Dubey • 51.17K Points
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Q. 549) Constraints 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
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Mr. Dubey • 51.17K Points
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Q. 550) The solution space of a LP problem is unbounded due to

(A) An incorrect formulation of the LP model
(B) Objective function is unbounded
(C) Neither (a) nor (b)
(D) Both (a) and (b)
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