BCOM Maths-1 MCQ's




Question 181 :
Decision making under certainty is the process of choosing a decision alternatives (acts) when the state of nature is _____.

  1. Unknown
  2. Known
  3. both (a) - (b)
  4. None
  

Question 182 :
If the outcome of some action (or act) is not known in advance, then that outcome is uncertain.

  1. FALSE
  2. TRUE
  3. None
  4. both (a) - (b)
  

Question 183 :
To construct the opportunity loss/regret table from a pay-off table first find the maximum pay off under each ____.

  1. Acts
  2. States of Nature
  3. None
  4. both (a) - (b)
  

Question 184 :
The probability is assigned to each _____.

  1. State of nature
  2. Acts
  3. Both (a) - (b)
  4. None
  

Question 185 :
Pessimistic approach represents.

  1. Maximin Criterion
  2. Minimax criterian
  3. Both (a) - (b)
  4. None
  

Question 186 :
If the maximum payoffs for four acts A1, A2, A3 and A4 are 8, – 25, – 40 and zero respectively, then the best decision according to the minimax criterion is

  1. A1
  2. A2
  3. A4
  4. A3
  

Question 187 :
If we can place a monetary gain (or) loss to a consequence (or outcome), then it is called a pay off (or worth) of the outcome. The outcome is the combination of each act with each possible states of nature.

  1. TRUE
  2. FALSE
  3. None
  4. both (a) - (b)
  

Question 188 :
In EMV method we select the best act for which EMV has _____ values.

  1. Minimum
  2. Maximum
  3. Between maximum and minimum
  4. None
  

Question 189 :
Opportunity loss table will contain

  1. All negative values
  2. Both positive and negative values
  3. All positive values
  4. None
  

Question 190 :
In decision making under certainty case, there will be only one states of nature (event) column in the pay off table and the action which yields the best payoff in the column is chosen.

  1. TRUE
  2. FALSE
  3. None
  4. both (a) - (b)
  

Question 191 :
Expected opportunity loss and EMV can be calculated when probability is _____ to each states of nature.

  1. Given
  2. None given
  3. None
  4. both (a) - (b)
  

Question 192 :
Maximax, Minimin are known as _____.

  1. Optilistic approach
  2. Pessimistic approach
  3. None
  4. both (a) - (b)
  

Question 193 :
Minimax regret approach is somewhat between manimin and minimax criteria.

  1. TRUE
  2. FALSE
  3. None
  4. both (a) - (b)
  

Question 194 :
The best act to be selected using EMV and EOL will be the same

  1. TRUE
  2. FALSE
  3. None
  4. both (a) - (b)
  

Question 195 :
One more way of maximizing monetary value is to minimize the ____

  

Question 196 :
A _____ event is any subset of the sample space.

  

Question 197 :
A die is thrown thrice. Find the Probability of getting an odd number at least one?

  

Question 198 :
If the sample points of two events taken together constitue the sample space of the experiment the events are called ______ events.

  

Question 199 :
Mean Devaition From A is Minimum when A = ____

  

Question 200 :
The set of points of feasible region, which is a polyhedron is called _______ .

  

Question 201 :
A linear function of variables which is to be optimized is called _____ function.

  

Question 202 :
Mode is the value of that item which possess the ______ frequency

  

Question 203 :
A linear programming problem has three parts, the objective function, the constraints and the ______ restrictions.

  

Question 204 :
A box contains 20 tickets numbered 1 to 20. find the probability that the number on the ticket drawn is not divisible by 5?

  

Question 205 :
An event that always occurs whatever the result of the experiment in the sample space S is a ____

  

Question 206 :
A measure of central tendency or an average is a single representative expression of ______ and _____ data

  

Question 207 :
The average can be classified into _____ groups.

  

Question 208 :
Minmin Criterion thinking of decision maker is _____

  

Question 209 :
LPP is also known as _______

  

Question 210 :
Find the mean of 5, 6, 5, 2, 1 ?

  
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