Rapid Fire : Business Statistics and Operations Management

(1) Become compliant with government regulations
(2) Become compliant with government regulations
(3) Increase utilization of individual machines through better scheduling
(4) Improve quality control at all stages of the manufacturing process

Choose the correct answer from the options given below:

1) 1, 3 and 4 only

2) 2 and 3 only

3) 1 and 4 only

4) 2, 3 and 4 only

Homogeneous subsets in sampling are called

1) Sample sizes

2) Samples

3) Clusters

4) Strata

1) a-iii, b-i, c-iv, d-ii

2) a-iv, b-i, c-iii, d-ii

3) a-iv, b-iii, c-ii, d-i

4) a-ii, b-iii, c-i, d-iv

Which of the following characteristics of a data set are understood using the Karl Pearson coefficient of variation?

a. Disparity
b. Consistency
c. Uniformity
d. Homogeneity
e. Unbiasedness

Choose the most appropriate answer from the options given below:

1) a, b, and e only

2) b, c, and e only

3) c, d, and e only

4) a, b, and c only

1) A-IV, B-III, C-I, D-II

2) A-III, B-V, C-II, D-I

3) A-IV, B-I, C-II, D-III

4) A-IV, B-III, C-II, D-I

Logically, arrange in sequence the following activities to create the architecture of the ideal manufacturing firm.

a. Seamlessly integrates the physical and virtual resources
b. Operates extremely efficient factories and plants
c. Concentrates on the core competencies and outsources all other operations
d. Real time enterprise to respond instantaneously to changes in its business
e. Learning organisation facilitating cross fertilization of ideas.

Choose the correct answer from the options given below:

1) c, b, a, e, d

2) c, e, b, a, d

3) d, e, c, a, b

4) b, c, a, d, e

Indicate the correct answer for the combination from the following regarding the conditions for the applicability of a binomial distribution:

(a) There are 𝑛 independent trials
(b) Each trial has only two possible outcomes
(c) The probabilities of two outcomes do not remain constant
(d) The trials are independent

Which of the following options is correct?

1) (a), (b) and (d)

2) (b), (c) and (d)

3) (a), (c) and (d)

4) (a), (b) and (c)

What should be the economic order quantity (EOQ) for procurement of 20000 units annually at a price of Rs 12 per unit for consumption in production, when the cost per order is Rs 2000 and the inventory carrying cost is 25 % percent of Inventory value?

1) 5416 units

2) 6000 units

3) 5164 units

4) 6145 units

Given below are two statements:

Statement I: The product of two regression coefficients, 𝑏xy and 𝑏yx, equals r*r and cannot exceed 1.

Statement II: The average of two regression coefficients (bxy +byx)/2 is always greater than the correlation coefficient, r.

In the light of the above statements, choose the correct answer from the options given below:

1) Statement I is incorrect but Statement II is correct.

2) Both Statement I and Statement II are correct.

3) Statement I is correct but Statement II is incorrect.

4) Both Statement I and Statement II are incorrect.

When an activity is not connected to any of intermediate or end event and has no bearing on the project completion, is known as

1) Dangling

2) Slack

3) Looping

4) Dummy

1) (A)-(II), (B)-(III), (C)-(I), (D)-(IV)

2) (A)-(II), (B)-(IV), (C)-(I), (D)-(III)

3) (A)-(III), (B)-(II), (C)-(IV), (D)-(I)

4) (A)-(III), (B)-(II), (C)-(I), (D)-(IV)

Which of the following modules is NOT a part of a typical ERP system?

1) The Project System (PS) Module

2) The Human Resource (HR) Module

3) The Corporate Management (CM) Module

4) The Asset Management (AM) Module

A forecasting technique in which the group consists of persons who are physically dispersed and are anonymous to one another is called:

1) Heuristic Ideation Technique

2) Brain Storming Technique

3) Delphi Technique

4) Decision Tree Technique

In regression model, assumptions of error term are:

I. Zero-mean assumption
II. Constant-variance assumption
III. Dependence assumption
IV. Independence assumption
V. Normality assumption

Choose the correct answer from the options given below:

1) II, III, IV, V only

2) I, II, IV, V only

3) I, III, IV, V only

4) I, II, III only

Which of the following are considered as the 'principal standards' in the ISO series developed by the International Organization for Standardization?

a. ISO 9000
b. ISO 9001
c. ISO 9002
d. ISO 9003
e. ISO 9004

Choose the most appropriate answer from the options given below:

1) a, b, and c only

2) b, c, and d only

3) c, d, and e only

4) a, b and e only

1) A-III, B-II, C-IV, D-I

2) A-I, B-II, C-IV, D-III

3) A-I, B-II, C-III, D-IV

4) A-III, B-IV, C-II, D-I

For a situation where 100 misprints are distributed randomly throughout the 100 pages of a book, the probability that a page selected at random will contain at most one misprint will be

1) 0.728

2) 0.724

3) 0.736

4) 0.732

A transportation problem with m origins and n destinations becomes a trans-shipment problem with

1) (m + n - 1) sources and equal number of destinations

2) (m - n) sources and (m - n) destinations

3) (m + n) sources and (m + n) destinations

4) (m + n -2) sources and (m + n – 2) destinations

Given below are two statements: One is labelled as Assertion A and the other is labelled as Reason R.

Assertion A: Median is the middle most item in the set of ordered numbers.
Reasons R: Mode is not unduly affected by extreme values.

In the light of the above statements, choose the most appropriate answer from the options given below:

1) Both A and R are true and R is correct explanation of A.(B)

2) A is false but R is true.

3) A is true but R is false.

4) Both A and R are true but R is NOT correct explanation of A.

1) A-I, B-III, C-II, D-IV

2) A-III, B-IV, C-I, D-II

3) A-IV, B-III, C-I, D-II

4) A-III, B-I, C-II, D-IV

Arrange in sequence the process of hypothesis testing.

A. Choose the level of significance
B. Set up null hypothesis and alternate hypothesis
C. Select appropriate statistics
D. Establish the decision rule
E. Perform computations and draw conclusions

Choose the correct answer from the options given below:

1) A, D, C, E, B

2) B, A, C, D, E

3) A, B, C, D, E

4) C, A, B, D, E

Which of the following statements are true about line balancing?

a. The total amount of work on a line is divided into different tasks.
b. Line balancing mainly ensures that each work station gets approximately equal amount of time.
c. Cycle time is determined by the minimum time required at any workstation.
d. Line balancing is not useful for the process industry.
e. Tasks are assigned to workstations that allow the work to be performed in a feasible sequence.

Choose the correct answer from the options given below:

1) c, d and e only

2) a, b and c only

3) b, c and d only

4) a and e only

1) a-ii, b-iv, c-iii, d-i

2) a-iii, b-iv, c-ii, d-i

3) a-ii, b-i, c-iii, d-iv

4) a-ii, b-i, c-iii, d-iv

Internal reliability of a test instrument is defined as:

1) The identical observation of single individual's scores

2) The property of a distribution to achieve mean of 0 and variance of 1

3) The increase and decrease in scores measured over time produce a variance of less than 50%

4) The consistency of a measure taken at two different points of time

When is the finite population multiplier expected to be approximately equal to one?

1) N ≥ 30 n

2) N ≥ 20 n

3) N ≥ 10 n

4) N ≥ 40 n

Karl Pearson co-efficient of variation (CV) measures which of the following characteristics?

1) Homogeneity

2) Efficiency

3) Consistency

4) Unbiasedness

What is the correct sequence of steps involved in the master production schedule preparation?

(I) Obtaining the net requirement of materials
(II) Revising the preliminary, master production schedule to accommodate the inadequacy of materials
(III) Obtaining the specification on required production
(IV) Assessing the invent, in hand and on order
(V) Determining the gross requirements of materials using MRP

Choose the correct answer from the options given below:

1) I, V, III, IV, II

2) II, III, I, IV, V

3) III, V, IV, I, II

4) I, IV, III, II, V

Given below are two statements:

Statement I: Quota sampling is the non random method of selecting a sample from a population.
Statement II: The standard error of the estimate is inversely proportional to the square root of the sample size.

In the light of the above statement choose the correct answer from the options given below:

1) Both statement I and Statement II are true.

2) Both Statement I and statement II are false.

3) Statement I is true but Statement II is false.

4) Statement I is False but Statement II is true.

Which of the following statement(s) are true in the context of quality standards?

I. KAIZEN approach deals with continuous improvement
II. BIS represents India in ISO
III. TQM cannot applied to crude oil refining
IV. Six sigma allows 3.4 defects per one million cases
V. Statistical quality control applications are limited to manufacturing industries

Choose the most appropriate answer from the options given below:

1) III, IV, V only

2) I, IV, V only

3) II, III, IV only

4) I, II, IV only

Which of the following is NOT an advantage of implementing a quality system that conform to ISO standards?

1) Inefficient decision making

2) Improvement in customer satisfaction

3) Improvement in employee involvement

4) Improvement in house keeping

Sequence the following in order to eliminate waste and inefficiencies in the lean manufacturing:

a. Seiso
b. Shitsuke
c. Seiri
d. Seiketsu
e. Seiton

Choose the correct answer from the options given below:

1) c, a, d, b, e

2) b, c, e, d, a

3) c, e, a, d, b

4) e, d, b, c, a

Exponential distribution comprises which of the following characteristics?

(a) It is discrete distribution
(b) It is a family of distributions
(c) It is skewed to the left
(d) The x values range from zero to infinity

Which one of the following options is most appropriate?

1) (a), (b), (c) and (d)

2) (b) and (d)

3) (b), (c) and (d)

4) (c) and (d)

An outlier does NOT affect which of the following statistical measures?

(1) Quartile range
(2) Standard deviation
(3) Median
(4) Regression coefficients

Choose the correct answer from the options given below:

1) 1, 3 and 4 only

2) 1 and 3 only

3) 1 and 2 only

4) 2 and 4 only

Which queuing model is represented by a situation in which customers come to a bank counter every five minutes and the banker takes exactly five minutes to serve a customer?

1) Poisson-exponential single server

2) Poisson-exponential Dual server

3) Poisson-exponential Multiple Server

4) Deterministic

For a given set of pair data, the correlation and regression coefficients have been calculated as being equal to r, byx and bxy respectively. Now, each of values in the x series is divided by 4. What effect does it have on each of their coefficients?

1) Each of coefficient will be reduced by on fourth of its value.

2) There is no change in r. byx change to byx/4 and bxy changes to 4bxy.

3) The three coefficients remain unchanged.

4) There is no change in r but byx changes to 4byx and bxy changes to bxy/4.

Gantt chart is applicable to:

1) Production scheduling

2) Sales Forecasting

3) Motion Study

4) Time study

Which one of the following demand forecasting methods is NOT a survey method?

1) Graphical method

2) End use method

3) Complete enumeration method

4) Delphi method

For making a single-channel, single-phase queuing model, which of the following assumptions are involved:

(A) Every arrival waits to be served regardless of the length of the time.
(B) Arrivals are independent of preceding arrivals, but the average number of arrivals does not change over time.
(C) Arrivals come from a finite or very small population on a LIFO basis.
(D) Service times follow the negative exponential distribution or are constant.
(E) The average service rate is greater than the average arrival rate.

Choose the correct answer from the options given below:

1) (A), (B), (C) and (D) Only

2) (A), (B), (D) and (E) Only

3) (B), (C), (D) and (E) Only

4) (A), (B) and (C) Only

Which of the following statements is true?

1) The Spearman correlation coefficient is a measure of the association between two interval variables.

2) In regression analysis, the dependent variable is treated as a fixed variable, while the independent variable is random.

3) The Pearson correlation coefficient is designed to capture the extent of linear association between variables.

4) The Pearson correlation coefficient can range from +2.0 to -2.0.

For calculating arithmetic means for grouped data sets assumptions are:

a. The class interval must be closed
b. The width of each class interval should be equal
c. The mid value of each class interval must represent the average of all the values in that class.
d. All values of the observations cannot be evenly distributed

Choose the most appropriate answer from the options given below:

1) a, b and c only

2) a, b, c and d only

3) a and c only

4) a and b only

Automobile Assembly or Manufacturing follows which one of the following type of layouts?

1) Process Layout

2) Fixed position Layout

3) Cellular Layout

4) Production Layout

Which one of the following is incorrect relationship between Mean, Median and Mode?

1) Mean = 0.5 (3 Median + Mode)

2) 3 Mean + Mode = 3 Median + Mean

3) Median = (2 Mean + Mode)/3

4) Mode = 3 Median – 2 Mean

Arrange the Project Life Cycle Phases in proper order:

(A) Concept Phase
(B) Planning and Organising Phase
(C) Definition Phase
(D) Implementation Phase
(E) Project Clean-up Phase

Choose the correct answer from the options given below:

1) (A), (C), (B), (D), (E) Only

2) (A), (D), (C), (B), (E) Only

3) (C), (A), (B), (D), (E) Only

4) (A), (B), (C), (D), (E) Only

Read the following regarding PERT and CPM:

(a) PERT is probabilistic in nature and CPM is deterministic in nature.
(b) PERT is most suitable for new as well as old projects but CPM is of great value for projects that are repetitive.
(c) PERT focuses primarily on time element and attaches lesser significance to the cost. On the contrary, the CPM puts strong emphasis on cost.
(d) PERT is activity-oriented and CPM is event-oriented.

Which one of the following options is most appropriate?

1) (a) and (d)

2) (a), (c) and (d)

3) (a), (b), (c) and (d)

4) (a), (b) and (c)

Which of the following is true with regard to method of least squares used in simple regression analysis?

1) It minimises the sum of squared differences between the values of independent variable and their mean

2) It minimises the sum of squared values of the dependent variable

3) It minimises the sum of the squared values of the independent variable

4) It minimises the sum of the squared differences between the actual values of dependent variable and the estimated values of the dependent variable as per regression equation

Which of the following are necessary conditions for applying Siméon Denis Poisson distribution in the field of managerial decision making?

(1) Each occurrence of an event is independent of the occurrence of the other event
(2) The probability of an occurrence is the same for any two intervals of equal length
(3) Poisson distribution describes continuous occurrences over a specific time interval
(4) In each interval, occurrences can range from zero to infinity

Choose the correct answer from the options given below:

1) 1, 2 and 4 only

2) 1, 3 and 4 only

3) 1, 2 and 3 only

4) 1 and 2 only

Identify the correct combination of properties of point estimates from the options given below:

(a) Efficiency
(b) Consistency
(c) Adequacy
(d) Unbiasedness

Choose correct option:

1) (b), (c) and (d)

2) (a), (c) and (d)

3) (a), (b) and (d)

4) (a), (b) and (c)

Which of the following comprises the interdependent troika of waste, overburden and unevenness in the ‘lean’ manufacturing?

a. Muri: Unreasonable work stress on men and machines.
b. Deviations from quality, productivity and breakdowns.
c. Muda: Non-value adding work.
d. Uncertainty in task times, in demand and customer's role.
e. Mura: Inconsistency and variation in workflow, speed and quality.

Choose the most appropriate answer from the options given below:

1) a, b and c only

2) c, d and e only

3) a, c and d only

4) a, c and e only

1) Option 4 = σ = √[(n² + 1)/12]

2) Option 1= σ = √[(n² - 1)/6]

3) Option 3 = σ = √[(n² - 1)/ 12]

4) Option 2 = σ = √[(n² + 1)/6]

Which of the following are three levels of training in the six-sigma quality system?

a. Blue Belts
b. Yellow Belts
c. Black Belts
d. Red Belts
e. Green Belts

Choose the most appropriate answer from the options given below:

1) b, c and e only

2) c, d and e only

3) a, d and e only

4) a, b and c only

Which one of the following is correct when a null hypothesis is accepted?

1) χ² cal = χ² table

2) χ² cal ≤ χ² table

3) χ² cal < χ² table

4) χ² cal > χ² table

Arrange the following steps of six sigma process in a sequence:

a. Discover variation relationship for the vital variables and establish operating tolerances on each of the vital variables.
b. Validate measurement system, methods, and procedures, establish the current processes' capability.
c. Validate the measurement system's ability to produce repeatable data; determine the capability of the process to control the vital variables, implement statistical process control on the vital variables.
d. Select the critical-to-quality characteristics and define the required performance standards.
e. Define upper and lower performance limits; identify sources of variation; screen potential causes of variation to identify the vital variables needing control.

Choose the correct answer from the options given below:

1) e, d, b, a, c

2) d, b, e, a, c

3) d, e, b, a, c

4) d, b, a, e, c

In decision analysis, the expected value of perfect information is calculated as:

1) Expected payoff with perfect information minus Expected payoff without experimentation.

2) Maximum payoff for each state of nature multiplied by the prior probability of that state of nature.

3) Expected increase in the payoff minus the cost of the experimentation.

4) Expected value of sample information minus expected payoff with perfect information.

Which of the following sequence are the steps of ‘QUEST’ technique of external economic analysis?

1) Development Phase → Scanning Phase → Evaluation Phase → Strategic Implementation Phase

2) Scanning Phase → Segmentation Phase → Generative Phase → Review Phase

3) Conceptualization Phase → Evaluation Phase → Feedback Phase → Analysis Phase

4) Preparation Phase → Divergent Planning Phase → Scenario Development Phase → Option Identification Phase

1) a - iii, b - iv, c - ii, d - i

2) a - ii, b - iii, c - i, d - iv

3) a - i, b - ii, c - iv, d - iii

4) a - iv, b - i, c - ii, d - iii

1) a-ii, b-i, c-iv, d-iii

2) a-iv, b-iii, c-ii, d-i

3) a-i, b-ii, c-iii, d-iv

4) a-iii, b-iv, c-i, d-ii

Which of the following is correct statement about PERT and CPM technique?

A. Both the techniques use similar technology and same purpose.
B. Both the techniques were developed dependently of each other during 2005.
C. PERT was developed and used in conjunction with planning and designing of the polaris submarine system
D. PERT was developed by the Du Pon't Company.
E. The use of PERT and CPM techniques is made in both planning and controlling of the project.

Choose the correct answer from the options given below:

1) A, C, D, E only

2) B, D, E only

3) A, B, C only

4) A, C, E only

Identify the right combination of primary data collection methods from the following:

(a) Observation
(b) Experimentation
(c) Corporate database
(d) Survey method

Choose the correct option:

1) (c) and (d) only

2) (a) and (d) only

3) (a), (b) and (c)

4) (a), (b) and (d)

If on average 2 customers arrived at shopping mall per minute. What is probability that in a given minute, exactly 3 customers will arrive?

e^-2 = .1353

1) 0.1353

2) 0.1804

3) 0.2076

4) 0.902

Six Sigma is:

(A) a strategy that focuses on customer satisfaction.
(B) a mathematical function that connects quality lost and cost.
(C) a program to reduce defects.
(D) a discipline that follows the DMAIC model.

Choose the correct answer from the options given below:

1) (B) and (C) Only

2) (A) and (D) Only

3) (A), (C) and (D) Only

4) (B), (C) and (D) Only

The function which states the determinants of quantity to be either maximised or minimised is called as:

a. Feasible function
b. Optimal function
c. Criterion function
d. Sustainability function
e. Objective function

Choose the correct answer from the option given below:

1) a, b and c only

2) c and e only

3) c, d and e only

4) c and d only

The primary difference between CPM and PERT is that:

1) PERT makes the assumption that activities time are known with certainty and CPM employs three time estimates to compute expected values.

2) PERT has two time estimates and CPM has three time estimates.

3) PERT has one time estimate and CPM has three time estimates.

4) PERT has three time estimates and CPM requires only one time factor for each activity.

A cold drink bottling plant fills bottles of 500 ml capacity with mean of 500 ml and a standard deviation of 5. At least what percentage of bottles would contain cold drink between 490 ml and 510 ml?

1) 95 percent

2) 67 percent

3) 75 percent

4) 81 percent

Given below are two statements labelled as Assertion A and Reason R. Read the statements and answer the question that follows

Assertion A: The addition of independent variable(s) causes the predictions error to become smaller
Reasons R: With addition of independent variable, R² becomes larger to cause smaller prediction error

Which of the following is correct?

1) Both the statements A and R are correct but R is not the right explanation of A

2) Both Statements A and R are incorrect

3) Both the statements A and R are correct and R is the right explanation of A

4) Statement A is correct, but statement R is incorrect

1) a- IV, b- III, c- II, d- I

2) a- II, b- IV, c- III, d- I

3) a- IV, b- III, c- I, d- II

4) a- III, b- I, c- IV, d- II

In queuing Theory, statistical pattern by which customers arrive over a period of time, follows

1) Poisson distribution

2) Binomial distribution

3) Log- normal distribution

4) Normal distribution

Which one of the following is a non-parametric test?

1) t-test

2) z-test

3) F-test

4) χ2-test

1) d and e only

2) b and d only

3) c, d and e only

4) a and e only

Which of the following is/are factors to be given weightage viz. ASTEM for evaluating the quality of improvement by Kaizen?

A. Attitude
B. Safety
C. Productivity
D. Energy Saving
E. Management

Choose the correct answer from the options given below:

1) A, B, C, D, E

2) A, B, D, E only

3) A, B, C, D only

4) B, C, D, E only

In statistical quality control, the expected process variation (natural tolerance) is commonly taken to be

1) μ ± (s/(n^0.5))

2) μ ± 1σ

3) μ ± 3σ

4) μ ± 2σ

The objective of Scheduling is to allocate and prioritize demand to available facilities. The Scheduling decisions range from years to minutes/hours/days. Arrange the following Scheduling decisions from long term to short term:

(A) Aggregate Planning
(B) Short-term Scheduling
(C) Master Schedule
(D) Capacity Planning

Choose the correct answer from the options given below:

1) (B), (A), (C), (D) Only

2) (D), (A), (C), (B) Only

3) (A), (D), (C), (B) Only

4) (B), (C), (A), (D) Only

Arrange the following Historical Events in operations management in the order of sequence starting from oldest to newest:

A. Quality Revolution
B. Scientific Management
C. Industrial Revolution
D. Operations Research
E. Human Relations

Choose the correct answer from the options given below:

1) B, C, D, E, A

2) C, B, E, D, A

3) E, C, B, A, D

4) A, B, D, C, E

Six Sigma levels of Quality Management results in

1) 3.0 defects per million

2) 34 defects per one million

3) 3.2 defects per million

4) 3.4 Defects per million

For a project activity, the optimistic, the pessimistic, and the most likely times are 4, 14, and 6 days respectively. Its average time is:

1) 7 days

2) 10 days

3) 12 days

4) 9 days

What is the major assumption we make when computing a mean from Grouped data:

1) All values are discrete.

2) No value occurs more than once.

3) Every value in a class is equal to the midpoint.

4) Each class contains exactly the same number of values.

1) ₹ 6,000

2) ₹ 6,600

3) ₹ 6,060

4) ₹ 6,660

As a newly appointed marketing manager of a firm, you have been asked to determine if a special Point-of-Purchase (POP) display causes the purchase of the product on display. What type of research design will be needed?

1) Experimental

2) Normative

3) Exploratory

4) Descriptive

Which of the following statements are true?

I. A good measure of dispersion is not duly affected by extreme observations
II. Standard deviation incorporates the effect of extreme values thus making it most reliable measure of dispersion
III. Co-efficient of determination (R²) is always positive and less than one
IV. Non-parametric tests do not require us to make restrictive assumptions about shape of population distribution
V. Z-test cannot be applied when population is normal

Choose the correct answer from the options given below:

1) II, IV, V only

2) I, III, IV only

3) IV, V only

4) I, IV, V only

The correlation coefficient is the _______________ of two regression coefficients,

1) Median

2) Arithmetic mean

3) Harmonic mean

4) Geometric mean

Indicate correct options of the following statements on data collection and questionnaire design.

I. In order to ensure sufficiency of data, the field questionnaire must be 10% above the required number.
II. In structured interviews, interviewers’ attributes can significantly affect the respondent's replies.
III. Presentation of closed-ended questions and the general layout constitute important considerations in preparing a self-administrated questionnaire.
IV. In computer assisted data collection, degree of control over the interview process is high.
V. Description of important terminologies/jargons helps to improve the efficiency of respondent in filling the questionnaire.

Choose the most appropriate answer from the options given below:

1) II, III, IV, V only

2) I, II, III, IV only

3) III, IV, V only

4) I, III, IV, V only

Who is widely credited for placing Japan as a world leader in the quality of its manufactured products?

1) Schonberger R. J.

2) Goddard. W

3) Juran J.M.

4) Deming W.E.

The Contingency table in statistics is one:

1) That summarizes the percentage of items (or measurement) in each of several non-overlapping classes.

2) That summarizes the number of measurements which are less than the upper-class boundary of each class.

3) That displays points representing each class frequency above their class midpoints.

4) That consists of rows and columns that is used to classify data on two dimensions.

At a given significance level, sample results in the rejection region are called

(a) Statistically significant
(b) Statistically insignificant
(c) Statistically critical
(d) Confidence interval

Select the correct option:

1) (b) and (c) only

2) (a) and (c) only

3) (a) and (d) only

4) (a) and (b) only

Which one of the following is correct if each of the value of the set of data increases by 12?

1) No change in the value of coefficient of variation.

2) Increase the standard deviation by 12

3) Increase the mean by 12.

4) Increase the coefficient of variation by 12.

Which one of the following statements is true for Type II error?

1) Accepting an incorrect hypothesis

2) Rejecting an incorrect hypothesis

3) Accepting a correct hypothesis

4) Rejecting a correct hypothesis

Respondents of a recent sample survey provided names of friends they thought would be likely users of a new product. These friends were contacted, completed a survey, and asked to supply names of other likely users. Which method of sampling has been used in this survey?

1) Quota

2) Snowball

3) Expert

4) Judgemental

What shall be the transportation cost if a researcher uses the North-West Corner Rule to get the basic feasible solution to the following:

1) 116

2) 112

3) 105

4) 102

Fixing the zero date is important step in establishing a project -

1) Secondary steps

2) Definition steps

3) Last steps

4) Preliminary steps

The difference between the point estimate and the true value of population parameter being estimated is known as

(a) Sampling error
(b) Estimation error
(c) Probable error
(d) Standard error

Choose the correct option from the options given below:

1) (a) and (c) only

2) (c) and (d) only

3) (a) and (b) only

4) (a), (b) and (c) only

Which of the following techniques is used for project management in operations research?

1) PERT

2) EOQ

3) VAM

4) LCM

Dimension reduction methods have the goal of using the correlation structure among the predictor variables to accomplish which of the following:

a. To reduce the number of predictor components
b. To help ensure that these components are dependent
c. To provide a framework for interpretability of the results
d. To help ensure that these components are independent
e. To increase the number of predictor components

Choose the correct answer from the options given below:

1) a, b, c and e only

2) a, b, d and e only

3) a, c and d only

4) b, c, d and e only

Which one of the following is not a method of primary data collection?

1) Questionnaire

2) Delphi Technique

3) Documents

4) Interview

One use of regression line is

1) To estimate the change in Y for one-unit change of x

2) To determine if any change in x cases a change in y

3) To determine if any value are outliers

4) To determine if any X value are outliers

Which of the following is true for the coefficient of correlation?

1) It is not dependent on both the change of scale and change of origin

2) It is not dependent on the change of scale

3) It is not dependent on the change of origin

4) It is dependent upon change of scale, but not dependent upon change of origin

Which of the following are properties of regression coefficients?

A. r = (byx X bxy)^0.5
B. Change in origin are not affected
C. Change in scale are not affected
D. If both the regression coefficient have negative sign, the correlation coefficient will have negative sign
E. If one regression coefficient is greater than one then other regression coefficient must be less than one.

Choose the correct answer from the options given below:

1) B, C, D and E Only

2) A, D and E Only

3) A, B, D and E Only

4) A, B and E only

Which of the following statistical techniques should be used when you wish to examine the association between two nominal variables?

1) Multiple regression analysis

2) Chi-square contingency test

3) Pearson correlation coefficient

4) Simple correlation coefficient

Which of the following are Probability Sampling Methods?

A. Quota sampling
B. Purposive sampling
C. Multistage sampling
D. Cluster sampling
E. Systematic sampling

Choose the correct answer from the options given below:

1) B, D, A only

2) A, B, C only

3) B, C, D only

4) C, D, E only

Which of the following is true about the term "KAIZEN"?

1) KAIZEN is dramatic, a real attention-getter. It is like magma that appears in abrupt eruptions from time to time.

2) KAIZEN is subtle and its results are seldom immediately visible. It is an ongoing process and involves the entire organisation.

3) KAIZEN involves all the activities directed towards maintaining current technological, managerial and operating standards and improving current standards.

4) KAIZEN is seen as major changes in the wake of technological breakthroughs or the introduction of latest management concepts or production techniques.

Which of the following statistical tests examines the equality of two means?

a. F-test
b. t-test
c. Chi-square (χ²) test
d. Mann-Whitney 'U' test
e. Kolmogorov-Smirnov test

Choose the most appropriate answer from the options given below:

1) a, b, and c only

2) a and c only

3) c, d, and e only

4) b and d only

Arrange the steps in demand forecasting from beginning to end.

A. Specifying objectives
B. Making choice of methods
C. Determining the perspective
D. Estimation and interpretation of results
E. Collection of data and data adjustment

Choose the correct answer from the options given below:

1) C, A, E, D, B

2) A, C, B, E, D

3) C, B, A, D, E

4) A, B, D, C, E

A technique of building up a list or a sample of a special population by using an initial set of members as informants is called:

1) Convenience sampling

2) Snowball sampling

3) Purposive sampling

4) Quota sampling

Customers arrive at a reception counter at an average interval rate of 10 minutes and the receptionist takes an average of 6 minutes for one customer. The average queue length is:

1) 7/10

2) 11/10

3) 8/10

4) 9/10

1) A-IV, B-III, C-I, D-II

2) A-IV, B-III, C-II, D-I

3) A-I, B-II, C-III, D-IV

4) A-III, B-IV, C-II, D-I

The situation of simultaneous satisfaction of row minima and column minima rule is termed as

1) Post optimality analysis

2) Unboundedness

3) Degeneracy

4) Infeasibility

The mean of a binomial distribution is 40 and the standard deviation is 6. What is the value of n?

1) 40

2) 360

3) 36

4) 400

Which of the following is NOT a fundamental principle of KAIZEN?

1) Empower people

2) Let it go

3) Go to Gemba

4) Know your customer

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