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Operations Research or Qualitative Approach MCQ Questions and Solutions with Explanations | Management

Operations Research or Qualitative Approach MCQ Questions and answers with easy and logical explanations. Management provides you all type of quantitative and competitive aptitude mcq questions with easy and logical explanations. Operations Research or Qualitative Approach MCQ is important for exams like MAT, CAT, CA, CS, CMA, CPA, CFA, UPSC, Banking and other Management department exam. Page-10 section-1

Each section contains 100 MCQs on Operations Research .
91
As for maximization in assignment problem, the objective is to maximize the ___________.
Discuss
Answer & Solution
Answer: Option A
Solution:
As for maximization in assignment problem, the objective is to maximize the Profit. An assignment problem is a particular case of transportation problem where the objective is to assign a number of resources to an equal number of activities so as to minimize total cost or maximize total profit of allocation.
92
Operations Research simply helps in improving the ______________ of the solution but does not in a perfect solution.
Discuss
Answer & Solution
Answer: Option A
Solution:
Operations Research simply helps in improving the quality of the solution but does not in a perfect solution. It implies that by applying its scientific approach, it can only improve the quality of solution but it may not be able to give perfect solution.
93
Operations Research involves ______________ attack of complex problems to arrive at the optimum solution.
Discuss
Answer & Solution
Answer: Option C
Solution:
Operations Research involves scientific and systematic attack of complex problems to arrive at the optimum solution. An optimal solution is a feasible solution where the objective function reaches its maximum (or minimum) value – for example, the most profit or the least cost. A globally optimal solution is one where there are no other feasible solutions with better objective function values.
94
Operations Research uses models built by quantitative measurement of the variables of a given problem and also derives a solution from the model using _____________ of the diversified solution techniques.
Discuss
Answer & Solution
Answer: Option B
Solution:
Operations Research uses models built by quantitative measurement of the variables of a given problem and also derives a solution from the model using one or more of the diversified solution techniques. Diversified Sourcing Solutions uses various services and techniques to check for criminal background information among applicants considered for a job offer.
95
A solution may be extracted from a model either by.
Discuss
Answer & Solution
Answer: Option C
Solution:
A solution may be extracted from a model either by Conducting experiments on it and Mathematical analysis.
96
Operations Research uses models to help the management to determine its ___________ scientifically.
Discuss
Answer & Solution
Answer: Option C
Solution:
Operations Research uses models to help the management to determine its policies and actions scientifically. It uses various scientific research-based principles, strategies, and analytical methods including mathematical modeling, statistics and numerical algorithms to improve an organization's ability to enact rational and meaningful management decisions by arriving at optimal or near optimal solutions.
97
The mathematical model of an LP problem is important because.
Discuss
Answer & Solution
Answer: Option A
Solution:
The mathematical model of an LP problem is important because it helps in converting the verbal description & numerical data into mathematical expression. Linear programming (LP, also called linear optimization) is a method to achieve the best outcome (such as maximum profit or lowest cost) in a mathematical model whose requirements are represented by linear relationships.
98
Operations Research is a ____________.
Discuss
Answer & Solution
Answer: Option D
Solution:
Operations Research is a Science and Art. Operations Research is an Art and Science It had its early roots in World War II and is flourishing in business and industry with the aid of computer Primary applications areas of Operations Research include forecasting, production scheduling, inventory control, capital budgeting, and transportation.
99
What have been constructed for Operations Research problems and methods for solving the models that are available in many cases?
Discuss
Answer & Solution
Answer: Option C
Solution:
Mathematical Models have been constructed for Operations Research problems and methods for solving the models that are available in many cases. A mathematical model can be defined as a description of a system using mathematical concepts and language to facilitate proper explanation of a system or to study the effects of different components and to make predictions on patterns of behaviour (Abramowitz and Stegun, 1968).
100
Which technique is used in finding a solution for optimizing a given objective, such as profit maximization or cost minimization under certain constraints?
Discuss
Answer & Solution
Answer: Option D
Solution:
Linear programming is a mathematical technique for solving constrained maximization and minimization problems when there are many constraints and the objective function to be optimized, as well as the constraints faced, are linear (i.e., can be represented by straight lines).