Final PN-16 Strategic Cost Management Quiz 5

1. Critical Activities have:

2. The drive up window of a fast food centre was being studied using simulation for a variety of operating characteristics. As part of the study data was collected on Customer Arrivals as given in the following table. Using expected value calculations determine the expected time between customer arrivals.Inter arrival time (Minutes) 0.5 1.0 2.0 3.0 4.0 5.0 6.0 Probability 0.10 0.25 0.20 0.30 0.05 0.05 0.05

3. Select the valid reasons for using Simulation.

4. Monte Carlo Simulation gets its name from which of the following?

5. Disadvantage of using Modelling and Simulation lies in the statement –

6. Simulation is the process of using a model to study the performance of a system.

7. Which of the following is the first step for developing the Simulation Model?

8. Which one of the following is not an application area of Modelling and Simulation?

9. Which of the following are the advantages of using Modelling and Simulation?

10. Which of the following is first step for performing Simulation analysis?

11. Games which involve more than two players are called:

12. The payoff value for which each player in a game always selects the same strategy is called the:

13. The size of the payoff matrix of a game can be reduced by using the principle of:

14. A mixed strategy game can be solved by:

15. What happens when the maximin and minimax values of the game are equal?

16. A game is said to be unfair if:

17. Game theory models are classified by the:

18. Two person zero sum game means that:

19. When a maximisation assignment problem is converted to minimisation problem, the resultant matrix is called:

20. The procedure used to solve Assignment problems wherein one reduces the original assignment costs to a table of opportunity costs is called    

21. To proceed with the MODI algorithm for solving an assignment problem, the number of dummy allocations need to be added are –

22. The Assignment problem:

23. If there are n jobs and n workers, there would be –

24. An Assignment problem can be solved by –

25. The following character dictates that the Assignment matrix is a square one: