1. Define Operations Research.
- The study of algorithms
The application of mathematical methods for decision-making(Right Answer)
The study of historical events
The process of software development
2. Identify a key characteristic of Linear
Programming.
- It involves non-linear constraints
It has only integer variables
It includes an objective function and constraints(Right Answer)
It does not require optimization
3. Select the correct step in formulating an LPP.
- Ignoring constraints
Defining the decision variables(Right Answer)
Avoiding the objective function
Randomly assigning coefficients
4. Write the general form of an LPP objective
function.
- Minimize or maximize a linear function(Right Answer)
Solve using a differential equation
Use probability distributions
Define constraints only
5. State a limitation of Linear Programming.
- It handles non-linear constraints
It can only solve integer problems
It assumes linear relationships(Right Answer)
It is independent of optimization
6. Match the following: Big-M Method is used for...
- Solving differential equations
Handling artificial variables in simplex method(Right Answer)
Finding feasible solutions in graphs
Solving probability problems
7. Recognize a managerial application of Operations
Research.
- Optimizing production scheduling(Right Answer)
Conducting employee satisfaction surveys
Managing social media accounts
Writing company blogs
8. Define Duality in Linear Programming.
- The existence of two solutions
A method to solve probability problems
A concept where every LPP has an associated dual problem(Right Answer)
A situation where no solution exists
9. Identify an example of a constraint in LPP.
- Maximize profit
Minimize cost
x + y <= 10(Right Answer)
Solve using graphs
10. Select the graphical methods primary limitation.
- Works only for two variables(Right Answer)
Works for any problem size
Requires integer solutions
Ignores constraints
11. Write a key assumption in LPP.
- Constraints are non-linear
All functions are linear(Right Answer)
Variables are always integers
No constraints exist
12. State when multiple optimal solutions occur in
LPP.
- When constraints are violated
When the objective function is parallel to a constraint(Right Answer)
When no solution exists
When the simplex method fails
13. Match the following: Degeneracy occurs when...
- An optimal solution is unbounded
Two or more solutions exist
A basic variable has a zero value in the simplex table(Right Answer)
No feasible solution exists
14. Recognize an advantage of the Simplex Method.
- Works for all optimization problems
Finds an optimal solution for LPP systematically(Right Answer)
Requires no constraints
Only works for integer programming
15. Define sensitivity analysis in LPP.
- Evaluating changes in input values on output(Right Answer)
Ignoring the constraints
Using probability distributions
Avoiding optimization
16. Identify the main goal of Integer Programming.
- Allow fractional values
Optimize with integer solutions(Right Answer)
Use only continuous variables
Solve without constraints
17. Select the primary characteristic of Zero-One
Programming.
- Variables take only binary values(Right Answer)
Variables are continuous
No constraints are required
Only maximization problems can be solved
18. Write a scenario where Goal Programming is used.
- Maximizing profits only
Solving multi-objective decision-making problems(Right Answer)
Avoiding constraints in optimization
Finding only integer solutions
19. State a major application of Duality.
- Forecasting weather patterns
Analyzing economic trade-offs(Right Answer)
Writing company policies
Creating social media posts
20. Match the following: Infeasibility in LPP
means...
- No solution satisfies all constraints(Right Answer)
There are multiple solutions
There is an unbounded solution
The solution process is incomplete
21. Recognize a special case in LPP.
- Unbounded solutions(Right Answer)
Non-linear programming
Multiple constraints
Statistical analysis
22. Define an optimal solution in LPP.
- The solution that satisfies constraints and
optimizes the objective function(Right Answer)
A solution chosen randomly
Any feasible solution
A solution ignoring constraints
23. Identify the purpose of the Big-M Method.
- Solving non-linear problems
Handling artificial variables in simplex(Right Answer)
Graphically solving problems
Avoiding constraints
24. Select the correct statement about Two-Phase
Method.
- It avoids artificial variables
It solves infeasible problems in two steps(Right Answer)
It is only applicable to integer programming
It is a graphical method
25. Write the significance of the objective function
in LPP.
- Defines the goal to be maximized or minimized(Right Answer)
Avoids constraints
Is not required in optimization
Defines non-linear relationships
26. State when an unbounded solution occurs in LPP.
- When there is no feasible solution
When the objective function increases indefinitely(Right Answer)
When constraints form a closed region
When only integer solutions are possible
27. Match the following: The feasible region
represents...
- Any possible value of variables
The set of all solutions satisfying constraints(Right Answer)
The region outside constraints
An area without optimal solutions
28. Recognize the role of constraints in LPP.
- They define limits on decision variables(Right Answer)
They are ignored in optimization
They make the problem non-linear
They always produce integer solutions
29. Define the purpose of Operations Research.
- Optimizing decision-making using mathematical
techniques(Right Answer)
Studying organizational behavior
Conducting employee surveys
Analyzing historical data
30. Indicate the primary objective of solving a
transportation problem.
- Minimizing transportation cost(Right Answer)
Maximizing supply
Reducing delivery time
Equalizing supply and demand
31. Identify the first step in the North-West Corner
Rule.
- Select the largest cost cell
Allocate to the top-left corner cell(Right Answer)
Choose the least cost cell
Distribute supply evenly
32. Infer the limitation of the Least Cost Method in
transportation problems.
- Always guarantees optimality
May not provide an initial feasible solution(Right Answer)
Requires balanced supply and demand
Only works for square matrices
33. Compute the earliest start time for an activity
given its predecessors earliest finish time.
- Earliest finish time of predecessor + 1
Latest finish time of predecessor
Earliest finish time of predecessor
Earliest finish time of predecessor + duration(Right Answer)
34. Predict the impact of an unbalanced
transportation problem.
- Results in an infeasible solution
Needs additional dummy rows or columns(Right Answer)
Can be solved using the Hungarian method
Must be converted into an assignment problem
35. Relate the Vogels Approximation Method (VAM) to
optimization.
- It selects the highest cost first
It considers penalty costs to make allocations(Right Answer)
It always provides the optimal solution
It cannot handle unbalanced problems
36. Represent a special case in transportation
problems.
- Assignment problems
Degeneracy(Right Answer)
Supply excess
Non-linearity
37. Identify when the Hungarian method is used.
- Transportation problems
Assignment problems(Right Answer)
Linear programming
Network flow problems
38. Infer the condition for multiple solutions in a
transportation problem.
- When supply exceeds demand
When opportunity costs have zeros in multiple positions(Right Answer)
When all costs are equal
When degeneracy occurs
39. Predict the result of applying the Least Cost
Method to an unbalanced problem.
- An infeasible solution
Incorrect allocations
A feasible but suboptimal solution(Right Answer)
A directly optimal solution
40. Relate the Modified Distribution Method (MODI)
to the transportation problem.
- It finds the initial feasible solution
It tests for optimality and improves the solution(Right Answer)
It is used only for maximization cases
It is the same as the stepping stone method
41. Represent a method that ensures fairness in
assignment problems.
- North-West Corner Rule
Vogels Approximation Method
MODI Method
Hungarian Method(Right Answer)
42. Indicate the reason for using a dummy row/column
in unbalanced transportation problems.
- To ensure a feasible solution(Right Answer)
To increase costs artificially
To remove extra supply
To minimize supply
43. Identify which method considers opportunity cost
for optimality.
- Least Cost Method
MODI Method(Right Answer)
North-West Corner Rule
Hungarian Method
44. Infer the type of problem solved by the
Hungarian method.
- Transportation problem
Assignment problem(Right Answer)
Network problem
Inventory management
45. Indicate the best method to find an optimal
solution for a transportation problem.
- North-West Corner Rule
Hungarian Method
Modified Distribution Method(Right Answer)
Branch and Bound
46. Predict the impact of a maximization case in a
transportation problem.
- It is unsolvable
It requires cost conversion(Right Answer)
It follows the Least Cost Method
It needs an unbalanced supply
47. Relate the function of the stepping stone method.
- Finding the initial feasible solution
Finding optimality and improving allocations(Right Answer)
Solving assignment problems
Handling unbalanced cases
48. Represent a scenario that requires modifying a
transportation table.
- Balanced supply and demand
Multiple solutions
Degeneracy(Right Answer)
Zero costs
49. Indicate why the Vogels Approximation Method is
preferred over the North-West Corner Rule.
- It guarantees optimality
It considers cost penalties(Right Answer)
It eliminates degeneracy
It avoids unbalanced cases
50. Identify the main assumption in transportation
models.
- Equal cost for all routes
Total supply equals total demand(Right Answer)
Only one optimal solution exists
Assignments are fixed
51. Infer what happens if an allocation leads to
degeneracy.
- The solution is optimal
A dummy row/column must be added(Right Answer)
An artificial variable is introduced
The problem becomes unsolvable
52. Predict the number of allocations needed for a
non-degenerate basic feasible solution with m rows and n columns.
- m + n
m × n
m + n - 1(Right Answer)
(m-1) × (n-1)
53. Relate the Hungarian method to solving
optimization problems.
- It finds the feasible solution
It minimizes the total cost(Right Answer)
It handles degeneracy
It balances supply and demand
54. Indicate how the MODI method determines an
optimal solution.
- By checking demand and supply balance
By calculating opportunity costs(Right Answer)
By selecting the lowest cost cell
By making allocations directly
55. Identify the key difference between the Least
Cost Method and Vogels Approximation Method.
- LCM considers cost differences
LCM directly provides an optimal solution
LCM does not consider penalties(Right Answer)
VAM ignores penalties
56. Infer why degeneracy occurs in transportation
problems.
- Too few allocations in a basic feasible
solution(Right Answer)
Too many optimal solutions
Cost differences are too high
It always occurs in balanced problems
57. Predict how an assignment problem with
maximization objective is solved.
- Convert it into a minimization problem(Right Answer)
Use the North-West Corner Rule
Apply the Least Cost Method
It cannot be solved
58. Relate the role of opportunity cost in the
Hungarian method.
- It helps determine feasible solutions
It ensures balanced assignments
It minimizes total cost(Right Answer)
It is ignored in the final step
59. Indicate the primary advantage of using Vogels
Approximation Method.
- It guarantees an optimal solution
It provides a better starting feasible solution(Right Answer)
It eliminates degeneracy
It is the simplest method
60. Identify the correct condition for applying the
Hungarian method.
- When the problem is unbalanced
When the problem is a minimization assignment problem(Right Answer)
When transportation costs are equal
When demand exceeds supply
61. Calculate the total project duration using the
critical path method (CPM).
- Sum of all activities
Sum of all critical activities
Longest path through the network(Right Answer)
Shortest path through the network
62. Choose the primary purpose of a Work Breakdown
Structure (WBS).
- Identify project risks
Break down project scope into smaller components(Right Answer)
Assign resources to tasks
Estimate project costs
63. Solve for the earliest start time of an activity
without predecessors.
- Zero(Right Answer)
One
Activity duration
Project start time
64. Determine the float for a non-critical activity.
- Difference between latest and earliest start
times(Right Answer)
Difference between latest and earliest finish times
Duration of the activity
Sum of latest start and earliest start times
65. Establish the relationship between CBS and WBS.
- CBS is derived from WBS(Right Answer)
WBS is derived from CBS
CBS and WBS are independent
CBS is a subset of WBS
66. Predict the impact of crashing on the project
schedule.
- Increases overall project cost
Reduces project duration(Right Answer)
Increases slack in all activities
No effect on project duration
67. Solve for the total float of an activity given
its early and late start times.
- Late start - Early start(Right Answer)
Early start - Late start
Late finish - Early start
Early finish - Late start
68. Write the formula for calculating slack time in
project scheduling.
- Late start - Early start(Right Answer)
Early start - Late start
Late finish - Early start
Early finish - Late start
69. Calculate the projects critical path using
network analysis.
- Sum of all activity durations
Path with the most activities
Longest path with zero slack(Right Answer)
Path with the least number of activities
70. Choose the best method for analyzing the impact
of uncertainty in project scheduling.
- CPM
PERT(Right Answer)
CBS
OBS
71. Compute the expected project duration using PERT.
- (Optimistic + 4(Most Likely) + Pessimistic)/6(Right Answer)
(Optimistic + Most Likely + Pessimistic)/3
(Optimistic + 2(Most Likely) + Pessimistic)/4
(Optimistic + Most Likely + Pessimistic)/6
72. Determine the purpose of a Cost Breakdown
Structure (CBS).
- Decomposing project costs into components(Right Answer)
Identifying project risks
Assigning tasks to team members
Developing a project timeline
73. Establish the connection between OBS and WBS in
project management.
- OBS maps organizational units to WBS elements(Right Answer)
WBS maps organizational units to CBS
OBS and WBS are unrelated
OBS defines project timeline
74. Predict the result of resource levelling on a
project schedule.
- Increases project costs
Reduces slack in all activities
Reduces fluctuations in resource demand(Right Answer)
Shortens project duration
75. Solve for the latest finish time of an activity
given its latest start time and duration.
- Latest start + Duration(Right Answer)
Latest start - Duration
Latest start * Duration
Latest start / Duration
76. Write the objective of crashing a project
schedule.
- Minimize total project cost
Increase resource utilization
Reduce project duration at minimum additional cost(Right Answer)
Maximize slack time
77. Calculate the total float for an activity with
known earliest and latest finish times.
- Latest finish - Earliest finish(Right Answer)
Earliest finish - Latest finish
Earliest start - Latest start
Duration of the activity
78. Choose the main advantage of using PERT over CPM.
- PERT accounts for uncertainty(Right Answer)
PERT is faster to compute
PERT does not require network diagrams
PERT is deterministic
79. Establish the function of resource smoothing in
project management.
- Ensuring resources are not over-allocated(Right Answer)
Reducing project duration
Increasing total project cost
Eliminating non-critical tasks
80. Predict the effect of increasing activity
duration on the project schedule.
- Project duration increases(Right Answer)
Project cost decreases
More activities become non-critical
No impact on project duration
81. Represent an issue that arises when using the
North-West Corner Rule.
- It gives the best solution directly
It ignores cost minimization(Right Answer)
It handles unbalanced cases better
It requires penalty cost calculations
82. Write the formula for calculating variance in
PERT estimation.
- ((Pessimistic - Optimistic)/6)^2(Right Answer)
((Pessimistic - Optimistic)/3)^2
(Optimistic - Pessimistic)^2/6
(Pessimistic + Optimistic)/2
83. Calculate the latest start time of an activity
given its latest finish and duration.
- Latest finish - Duration(Right Answer)
Latest finish + Duration
Latest finish * Duration
Latest finish / Duration
84. Choose the best method for reducing project
duration while minimizing cost.
- Crashing(Right Answer)
Resource levelling
PERT
OBS
85. Identify the key factor affecting decision
making under uncertainty.
- Perfect knowledge of future events
Subjective probability estimation(Right Answer)
Availability of past data
Standardized decision rules
86. Determine the total slack for an activity given
its latest and earliest start times.
- Latest start - Earliest start(Right Answer)
Earliest start - Latest start
Duration of the activity
Total project duration
87. Calculate the variance of a PERT activity
duration estimate.
- ((Pessimistic - Optimistic)/6)^2(Right Answer)
((Pessimistic - Optimistic)/3)^2
(Pessimistic + Optimistic)/6
(Pessimistic - Optimistic)^2/6
88. Choose the correct method to handle uncertainty
in project scheduling.
- PERT(Right Answer)
CPM
CBS
OBS
89. Indicate the first phase of decision making.
- Problem identification(Right Answer)
Solution implementation
Evaluation
Feedback
90. Identify the type of decision made under
structured conditions with clear rules.
- Strategic decision
Operational decision
Tactical decision
Programmed decision(Right Answer)
91. Establish the relationship between slack and the
critical path.
- Critical activities have zero slack(Right Answer)
Slack increases project duration
Slack is independent of the critical path
All activities have slack
92. Predict the result of not considering resource
constraints in scheduling.
- Over-allocation of resources(Right Answer)
Reduced project duration
Increased project slack
Optimized cost structure
93. Infer the main characteristic of decision making
under uncertainty.
- Availability of complete information
Lack of information about probabilities(Right Answer)
Definite outcomes for alternatives
Use of deterministic models
94. Predict the impact of incorrect probability
estimation in decision making.
- Better decision accuracy
Higher risk of opportunity loss(Right Answer)
No impact on decision quality
Reduced financial gains
95. Relate payoff table to decision making.
- It shows possible actions and their outcomes.(Right Answer)
It identifies past decision failures.
It ranks decisions by complexity.
It excludes probabilities from decisions.
96. Represent the purpose of an opportunity loss
table.
- To identify missed gains from choices.(Right Answer)
To calculate total financial gains.
To replace payoff tables in analysis.
To compare only risk-free decisions.
97. Indicate which decision phase involves
evaluating different alternatives.
- Problem definition
Analysis
Choice(Right Answer)
Implementation
98. Infer why non-programmed decisions require more
analysis.
- They have predefined rules.
They involve new unstructured problems.(Right Answer)
They focus only on routine tasks.
They depend on lower-level employees.
99. Solve for the probability of project completion
within a given time using PERT.
- Use normal distribution and standard deviation(Right Answer)
Use CPM duration estimates
Use network diagrams
Use only optimistic estimates
100. Write the formula for total project cost given
normal and crash costs.
- Normal cost + Crash cost(Right Answer)
Normal cost - Crash cost
Crash cost * Normal cost
Crash cost / Normal cost
101. Predict the result of ignoring opportunity loss
in decision making.
- Improved decision accuracy
Missed potential profits(Right Answer)
Lower risk exposure
Better resource allocation
102. Relate tactical decisions to operational
strategy.
- They set broad organizational goals.
They influence short-term functional areas.(Right Answer)
They define long-term market positions.
They eliminate uncertainty in decisions.
103. Represent how decision trees assist in uncertain
decision making.
- By providing a structured decision path.(Right Answer)
By eliminating all risks.
By making random choices.
By reducing decision complexity.
104. Indicate the main use of a payoff table.
- To evaluate alternative decisions based on
outcomes.(Right Answer)
To assess employee performance.
To calculate business revenue.
To measure production efficiency.
105. Identify a key limitation of decision making
under risk.
- Probabilities are completely unknown.
It always leads to financial loss.
Decision outcomes depend on assigned probabilities.(Right Answer)
It eliminates all uncertainties.
106. Compute the earliest finish time of an activity
given its earliest start and duration.
- Earliest start + Duration(Right Answer)
Earliest start - Duration
Earliest start * Duration
Earliest start / Duration
107. Infer the difference between programmed and
non-programmed decisions.
- Both follow predefined rules.
Programmed decisions deal with routine situations.(Right Answer)
Non-programmed decisions have fixed outcomes.
Both eliminate uncertainty.
108. Predict the consequence of poor data quality in
decision making.
- Increased accuracy
Lower decision confidence(Right Answer)
No impact on decision outcomes
Faster decision process
109. Relate decision trees to expected value
calculations.
- They ignore probability distributions.
They rely on historical trends.
They help in computing expected monetary value.(Right Answer)
They focus on qualitative aspects only.
110. Represent a decision-making scenario with
complete knowledge of outcomes.
- Decision under uncertainty
Decision under risk
Decision under certainty(Right Answer)
Heuristic decision making
111. Determine the critical path in a network diagram.
- Path with the longest duration(Right Answer)
Path with the most activities
Path with maximum slack
Path with minimum activities
112. Indicate why decision making under uncertainty
is challenging.
- Outcomes are predetermined.
Probabilities are not known.(Right Answer)
There is no need for analysis.
Decisions are always profitable.
113. Identify the main component of an opportunity
loss table.
- Total costs of all decisions.
Difference between actual and best possible payoff.(Right Answer)
Projected revenue for each alternative.
Fixed costs of decision options.
114. Infer the importance of sensitivity analysis in
decision making.
- It predicts all possible outcomes.
It identifies the most profitable option.
It examines how changes in variables affect decisions.(Right Answer)
It ensures perfect decision accuracy.
115. Predict the advantage of using decision trees.
- They guarantee correct decisions.
They simplify complex choices.(Right Answer)
They replace managerial judgment.
They eliminate uncertainty.
116. Relate strategic decisions to organizational
growth.
- They impact long-term success.(Right Answer)
They focus only on daily operations.
They require no external analysis.
They are routine decisions.
117. Represent the purpose of maximin decision
criterion.
- To maximize the best possible outcome.
To choose the decision with the least worst outcome.(Right Answer)
To rely on expected monetary values.
To minimize the best outcome.
118. Indicate which decision rule is most
conservative.
- Maximax
Laplace
Minimax regret
Maximin(Right Answer)
119. Identify when a decision maker uses the Hurwicz
criterion.
- When they are extremely risk-averse.
When they consider both optimism and pessimism.(Right Answer)
When they ignore probabilities.
When they rely on past trends.
120. Infer why expected monetary value is useful in
decision making.
- It eliminates uncertainty.
It quantifies outcomes using probabilities.(Right Answer)
It relies on intuition rather than data.
It ignores opportunity costs.
121. Predict the impact of misinterpreting
opportunity loss tables.
- Better decision-making outcomes.
Inaccurate assessment of decision regret.(Right Answer)
No effect on financial decisions.
Improved risk management.
122. Relate the maximax rule to risk-taking behavior.
- It is used by highly risk-averse decision
makers.
It considers only the worst-case scenario.
It favors the most optimistic decision.(Right Answer)
It always results in the lowest regret.
123. Represent why probability assessment is crucial
in decision making under risk.
- It eliminates uncertainty.
It allows for better decision ranking.(Right Answer)
It reduces the number of alternatives.
It ignores worst-case scenarios.
124. Indicate the key factor distinguishing decisions
under risk and uncertainty.
- Availability of probabilities.(Right Answer)
Number of alternatives.
Size of the organization.
Complexity of calculations.
125. Identify a drawback of using the minimax regret
criterion.
- It assumes equal probability for all events.(Right Answer)
It ignores opportunity losses.
It focuses only on extreme pessimism.
It requires accurate probability estimates.
126. Infer when a decision maker would use the
Laplace criterion.
- When they assume all outcomes are equally
likely.(Right Answer)
When they are extremely optimistic.
When they avoid calculating probabilities.
When they rely solely on regret values.
127. Identify the meaning of \'M\' in M/M/1 queue.
- Multi-server
Mean service rate
Markovian arrival(Right Answer)
Maximum queue length
128. Infer the impact of increasing the arrival rate
in an M/M/1 queue.
- Decrease in queue length
Increase in waiting time(Right Answer)
Decrease in service rate
No impact on performance
129. Predict what happens if the service rate is
lower than the arrival rate in an M/M/1 queue.
- Queue disappears
Queue grows indefinitely(Right Answer)
Queue remains stable
Queue length decreases
130. Indicate the queue discipline typically assumed
in M/M/1 models.
- Priority Scheduling
Random Selection
First Come First Serve(Right Answer)
Last In First Out
131. Identify the key difference between M/M/1 and
M/M/C queues.
- Number of queues
Arrival distribution
Service discipline
Number of servers(Right Answer)
132. Compute the standard deviation of a PERT
activity duration.
- (Pessimistic - Optimistic)/6(Right Answer)
(Pessimistic + Optimistic)/6
(Pessimistic - Optimistic)/3
(Optimistic + Pessimistic)/3
133. Infer the role of the Poisson process in queuing
models.
- Controls service discipline
Determines queue length
Predicts departure rates
Describes arrival rates(Right Answer)
134. Predict the effect of increasing the number of
servers in an M/M/C queue.
- Higher blocking probability
Reduced waiting time(Right Answer)
No impact on service time
Increased queue length
135. Represent a key characteristic of an M/M/C/K
queue.
- Infinite customer population
No blocking
Limited queue capacity(Right Answer)
Single server
136. Indicate the primary goal of game theory.
- Optimize decision-making(Right Answer)
Increase randomness
Avoid Nash equilibria
Reduce information
137. Infer the condition for a saddle point in a
two-person zero-sum game.
- Strategies are mixed
Game has no equilibrium
MaxMin equals MinMax(Right Answer)
Payoff matrix is symmetric
138. Predict the outcome of a game with a saddle
point.
- The game is unsolvable
A mixed strategy must be used
A pure strategy solution exists(Right Answer)
The game requires infinite strategies
139. Relate the MinMax principle to decision-making.
- Maximize minimum gain
Minimize maximum loss(Right Answer)
Minimize minimum loss
Maximize maximum gain
140. Represent a scenario where dominance rule
applies.
- All strategies are equally good
One strategy is always better than another(Right Answer)
Strategies are randomly chosen
Players have identical payoffs
141. Indicate the main characteristic of a zero-sum
game.
- Total gain equals total loss(Right Answer)
All players win
All players lose
Payoff is always positive
142. Identify the best strategy in a strictly
determined game.
- Iterative strategy
Pure strategy(Right Answer)
Mixed strategy
Random strategy
143. Infer the implication of the dominance rule.
- Reduces total payoffs
Eliminates inferior strategies(Right Answer)
Creates new optimal strategies
Increases complexity
144. Predict the impact of a mixed strategy in game
theory.
- Reduces payoffs
Adds randomness(Right Answer)
Guarantees victory
Removes uncertainty
145. Relate game theory to queuing models.
- Minimizes arrival rates
Determines server speed
Optimizes service allocation(Right Answer)
Predicts queue length
146. Represent the difference between pure and mixed
strategies.
- Both are equivalent
Pure strategies involve randomness mixed strategies do not
Pure strategies are deterministic mixed strategies involve
probabilities(Right Answer)
Mixed strategies never lead to equilibrium
147. Indicate the significance of Nash equilibrium in
game theory.
- All strategies are random
Payoffs are always equal
One player always wins
No player benefits from unilateral deviation(Right Answer)
148. Identify the condition when a game has no saddle
point.
- Game is cooperative
Mixed strategy is needed(Right Answer)
Pure strategy is optimal
Game is not zero-sum
149. Infer the importance of the payoff matrix.
- Represents strategic outcomes(Right Answer)
Determines queue length
Controls service time
Eliminates uncertainty
150. Predict the impact of an additional server in an
M/M/C queue.
- Has no effect
Reduces waiting time(Right Answer)
Increases service time
Eliminates the queue
151. Relate queuing theory to real-life applications.
- Stock market trends
Random number generation
Chemical reactions
Call centers and traffic flow(Right Answer)
152. Represent a key assumption of M/M/1 queues.
- Batch arrivals
Fixed queue length
Multiple servers
Exponential service times(Right Answer)
153. Indicate a real-world example of an M/M/C/K
queue.
- Stock market orders
Single ATM queue
Emergency rooms with limited beds(Right Answer)
Restaurant with unlimited seating
154. Identify the significance of the arrival rate in
queuing models.
- Fixes queue length
Determines congestion level(Right Answer)
Eliminates waiting time
Controls service speed
155. Infer why game theory is important in business
strategy.
- Controls consumer demand
Predicts future stock prices
Eliminates uncertainty
Optimizes competitive decisions(Right Answer)