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WorksheetsDSN Part 1
Total questions: 10
Worksheet time: 5mins
The volume that results in total revenue being equal to total cost is the
Marginal Volume
Marginal Cost
Break Even Point
Total Revenue
Management science and operations research both involve
qualitative managerial skills
quantitative approaches to decision making.
Operational Management Skills
scientific research as opposed to applications
A model that uses a system of symbols and expressions to represent a problem is called
Analog
Iconic
Mathematical
Constrained
Baye’s theorem is useful in
Computing conditional probabilities
Computing Prior Probabilities
Revising probability estimates
Computing sequential probabilities
The quantitative analysis approach requires
the manager's prior experience with a similar problem
a relatively uncomplicated problem
All the four are true
mathematical expressions for the relationships
For a maximization problem, the conservative approach is often referred to as the
minimax approach
Maximin Approach
Minimini Approach
Maximax Approach
When the value of the output cannot be determined even if the value of the controllable input is known, the model is
Stochastic Model
Deterministic Model
Controlled Model
Analog Model
A model in which all uncontrollable inputs are known and cannot vary
Stochastic Model
Deterministic Model
Controlled Model
Analog Model
The probabilities of states of nature after revising the prior probabilities based on sample information is
Prior Probability
Posterior Probability
Conditional Probability
Marginal Probability
There is a fixed cost of Rs 45,000 to start a production process. Once the process has begun, the variable cost per unit is Rs 50. The revenue per unit is projected to be Rs 100. The expression for Total Cost
45000+100X
45000+50X
100X
100+50X
