Q. The initial solution of a transportation problem can be obtained by applying any known method. But the only condition is
✅ Correct Answer: (B)
the rim conditions are satisfied
Management Science MCQs and Notes
Q. The objective of network analysis is to
✅ Correct Answer: (A)
minimize total project duration
Q. Game theory models are classified by the
✅ Correct Answer: (D)
all of the above
Q. The decision making criteria that should be used to achieve maximum long term pay off is
✅ Correct Answer: (B)
emv
Q. while using Hurwicz criterion, the coefficient of realism
✅ Correct Answer: (A)
represents the degree of optimism
Q. The value of the coefficient of optimism is needed while using the criterion of
✅ Correct Answer: (C)
realism
Q. The expected value of perfect information is equal to
✅ Correct Answer: (A)
eppi – minimum emv
Q. The minimum expected opportunity loss is
✅ Correct Answer: (D)
both (a) and (b)
Q. Which of the following criterion is not used for decision making under uncertainty?
✅ Correct Answer: (D)
minimize expected loss
Q. Decision theory is concerned with
✅ Correct Answer: (D)
all of the above