Consider the following statements.
1. In the single channel queueing model, if μ = λ the queue length would be infinite.
2. In the simplex solution procedure for an LP problem, the shadow prices of the resources are identified with the variables which are included in the optimal solution.
3. In the case of gradual receipt of the ordered quantity, the EOQ will be larger than the EOQ in the case of instantaneous receipt.
4. Time is the only variable in PERT Indicate the correct answer.
A. Statements 1 and 2 are true, others are not
B. Statements 2 and 3 are true, others are not
C. Statements 1, 3 and 4 are true, but Statement 2 is false
D. All the statements are true
Answer: Option C
This Question Belongs to Management >> Operations Research
A. Is possible when the variables value is known
B. Reduces the scope of judgement & intuition known with certainty in decision-making
C. Require the use of computer software
D. None of the above
A. Must be deterministic
B. Requires computer aid for its solution
C. Represents data in numerical form
D. All of the above
A physical model is example of.
A. An iconic model
B. An analogue model
C. A verbal model
D. A mathematical model
The qualitative approach to decision analysis relies on.
A. Experience
B. Judgement
C. Intuition
D. All of the above
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