Decision Science | Chapter 2 | Part 5 | MBA MCQs | DS

Decision Science MCQs

  

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1. The inputs required for Markov process include
   1.   both
   2.   Initial condition of the market
   3.   none of these
   4.   transition probabilities
2. Values for the probabilistic inputs to a simulation
   1.   are selected by the decision maker
   2.   are randomly generated based on historical information
   3.   are calculated by fixed mathematical formulas
   4.   are controlled by the decision maker
3. Analysis of a Markov process
   1.   All of the alternatives are true
   2.   optimizes the system
   3.   leads to higher order decision making
   4.   describes future behavior of the system
4. Cumulative probabilities are found by
   1.   any method one chooses
   2.   simulating the initial probability distribution
   3.   summing all the probabilities associated with a variable
   4.   summing all the previous probabilities up to the current value of the variable
5. Simulation is a
   1.   Optimizing technique
   2.   none of these
   3.   both
   4.   Descriptive technique
6. In a market with three brands with equal shares the initial condition can be shown by
   1.   [a b c]
   2.   [1/3 1/3 1/3]
   3.   [0.25 0.25 0.25]
   4.   [0.5 0.25 0.25]
7. In Markov analysis, the likelihood that any system will change from one period to the next is revealed by the
   1.   matrix of state probabilities
   2.   transition-elasticity
   3.   matrix of transition probabilities
   4.   identity matrix
8. A random number generator provides numbers those are
   1.   Selected by giving equal chance to all the available range of numbers
   2.   In a decreasing sequence
   3.   In a increasing sequence
   4.   In orderly fashion
9. Markov analysis is a technique that deals with the probabilities of future occurrences by
   1.   analyzing presently known probabilities
   2.   using Bayes' theorem
   3.   the maximal flow technique
   4.   time series forecasting
10. A sequence of transitions beginning in state i and ending in state j is called as
    1.   transition from 0 to j
    2.   transition from i to j
    3.   transition from 0 to i
    4.   transition from j to i
11. ………. Theory is an important operations research technique to analyze the queuing behavior
    1.   Simulation
    2.   Decision
    3.   Network
    4.   Waiting line
12. While considering the queuing models we have considered …. distribution for service time
    1.   Normal
    2.   Chi-square
    3.   Exponential
    4.   Binomia
13. Which of the following statements is INCORRECT regarding the advantages of simulation?
    1.   A simulation model provides a convenient experimental laboratory for the real system
    2.   Simulation guarantees an optimal solution
    3.   Simulation is relatively easy to explain and understand
    4.   Simulation guarantees an optimal solution
14. The phenomenon in which customers join a line but leave after some time because they are too impatient to wait for their turn is called
    1.   Balking
    2.   Derenege
    3.   Debalking
    4.   Renege
15. Markov analysis assumes that conditions are both
    1.   collectively dependent and complementary
    2.   complementary and collectively exhaustive
    3.   collectively exhaustive and mutually exclusive
    4.   collectively dependent and mutually exclusive
16. In a transition probability matrix
    1.   The sum of each column is 0
    2.   The sum of each row is 0
    3.   The sum of each column is 1
    4.   The sum of each row is 1
17. In Markov analysis, we are concerned with the probability that the
    1.   time has reached a steady state
    2.   transition will occur
    3.   state is part of a system
    4.   system is in a particular state at a given time
18. A simulation model uses the mathematical expressions and logical relationships of the
    1.   computer model
    2.   performance measures
    3.   real system
    4.   estimated inferences
19. As simulation is not an analytical model therefore result of simulation must be viewed as
    1.   Exact
    2.   Approximation
    3.   Simplified
    4.   Unrealistic