Principles and Practices of Management

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

1. Network
2. transportation model
3. assignment
4. none of these

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82. Constraint in LP problem are called active if they

1. Represent optimal solution
2. At optimality do not consume all the available resources
3. Both of (a) and (b)
4. None of the above

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83. It ______________ at which an activity can start.

1. EST
2. EFT
3. LST
4. LFT

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84. ______________ 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

1. Slack
2. Total float
3. Free float
4. Independent float

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85. ______________ is the duration by which an activity can be delayed without delaying the project.

1. Total float
2. Slack
3. Earliest event time
4. None of these

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

1. Laplace
2. Maximax
3. Minimax regret
4. Maxmin

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87. Opportunity loss refers to

1. The expected value of a bad decision
2. The expected loss from a bad decision
3. The difference between actual pay off and the optimal pay off
4. The regret from not having made a decision

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

1. Maximin
2. Maximax
3. Minimax
4. Minimize expected loss

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89. The initial solution of a transportation problem can be obtained by applying any known method. But the only condition is

1. The solution be optimal
2. The rim conditions are satisfied
3. The solution not be degenerate
4. All of the above

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90. A physical model is an example of

1. An iconic model
2. An analogue model
3. A verbal model
4. A mathematical model

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