Q. For decision making under uncertainty, identify the decision rule that is appropriate for the optimist.
✅ Correct Answer: (B)
maximax
Management Science MCQs and Notes
Q. In a decision theory problem under complete uncertainty, which one of the following approaches will not be possible?
✅ Correct Answer: (A)
expected monetary value
Q. If a decision theory problem has 3 decision alternatives and 4 states of nature, the number of payoffs in that problem will be
✅ Correct Answer: (C)
12
Q. Which of the following is not a part of decision tree problem specification?
✅ Correct Answer: (C)
evpi
Q. ………is the shortest possible time in which an activity can be delayed without delaying the project.
✅ Correct Answer: (B)
optimistic time estimate
Q. ………… is the duration by which an activity can be delayed without delaying the project.
✅ Correct Answer: (A)
total float
Q. …….is the disconnection of an activity before the completion of activities in a project network diagram.
✅ Correct Answer: (C)
dummy
Q. The event is commonly represented by …… in network diagram
✅ Correct Answer: (A)
nodes
Q. An activity which must be completed before one or more other activities start is known as …………activity.
✅ Correct Answer: (B)
predecessor