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Xaviers
Institute of Business Management Studies
Quantitative
Techniques
1.. Define
Linear Programming. What are the essential Characteristics required for a
linear programming model?
Answer: Linear Programming: In Mathematics, linear programming is a
method of optimising operations with some constraints. The main objective of
linear programming is to maximize or minimize the numerical value. It consists
of linear functions which are subjected to the constraints in the form of
linear equations or in the form of
5. Discuss the role of sensitivity
analysis in linear programming.
Answer: Role of sensitivity analysis in linear
programming: Sensitivity analysis in
linear programming measures the degree to which a solution responds to
modifications of the elements of the analysis, such as the objective function
coefficients. The objective function represents the mathematical function to
work on. Thus, sensitivity analysis enables managers to adjust the linear
programming results to their specific environments, in practice. It
8. Explain the steps involved in solving
an assignment problem.
Answer: Assignment problem: 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 minimise total cost or maximize total
profit of allocation.
The problem of assignment arises because available resources such
as men, machines etc. have varying degrees of efficiency for performing
9. What is the difference between CPM and
PERT?
Answer: Difference Between PERT and
CPM
CPM vs PERT Project management can be
understood as a systematic way of planning, scheduling, executing, monitoring,
controlling the different aspects of the project, so as to attain the goal made
at the time of project formulation. PERT and CPM
10. What are the critical path activities and
why are they considered important?
Answer: Critical path activities: The
importance of good scheduling in project management ensures the ultimate
success of the project. The critical path activity is defined as the tasks that
establish the end date of the project schedule. When one of the project
13. What is the replacement of items? Why is
it important?
Answer: Replacement of items and
importance: In any establishment,
sooner or later equipment needs to be replaced, particularly when new equipment
gives more efficient or economical service than the old one. In some cases, the
old equipment might fail and work no more or is worn out. In such situations it
needs more expenditure on its
14. What is meant by a Fair Game?
Answer: Fair Game: Game theory
was developed for the purpose of analyzing competitive situations involving conflicting
interests. In other words, game theory is used for decision making under conflicting
situations where there are one or more opponents (i.e., players). For example, chess,
poker, etc., are the games which have the characteristics of a
15. What is simulation? Give a few areas of
its application.
Answer: A simulation is the imitation
of the operation of a real-world process or system over time. Simulations
require the use of models; the model represents the key characteristics or
behaviors of the selected system or process, whereas the simulation
Dear students, get latest JNU MBA Solved assignments by
professionals.
Mail us at: help.mbaassignments@gmail.com
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