Tag: Quantitative Techniques for management

Question 1. Accurate Data For Input Values Are Essential?

Answer :yes.

Question 2. A Factor Is Des Eloped To Suit The Problem?

Answer :No.

Question 3. Key Decision And Objective Of The Problem Must Be Identified?

Answer :Yes.

Question 4. The Methodology Helps Us In Studying The Scientific Method?

Answer :Yes.

Question 5. Model Docs Not Facilitates Manager To Take Decisions?

Answer :No.

Question 6. Once The _________ In Tested And Validated. It Is Ready For Implementation?

Answer :model.

Question 7. Quantitative Factors Are Considered In _________?

Answer :decision-making.

Question 8. Managerial Science Had _________ The Organization?

Answer :facilitate.

Question 9. Managerial Criticism Had Become _________?

Answer :complex.

Question 10. Fred Rich V. Taylor Developed The _________management Principle?

Answer :scientific.

Question 11. Which Of The Groups Of Workers Would Be Classified Under Indirect Labor?

Answer :Maintenance workers in a shoe and bag factory.

Question 12. In The Short-term Decision-making Context, Which One Would Be A Relevant Cost?

Answer :Cost of specific materials which will be purchased.

Question 13. Which Of The Costs Stated May Be Described As Remaining Constant
Over A Certain Activity Range And Then Increasing But Remaining Constant
Again Over A Revised Activity Range In The Short Term?

Answer :

stepped cost.

Question 14. Which Is Used To Establish The Economic Batch Quantity?

Answer :Cumulative production quantity.

Question 15. Which Is/are Correct With Regard To Stocks?

Answer :

Stock-outs arise when too little stock is held and Safety stock is the level of units maintained in case there is unexpected demand.

Question 16. Which Would Help To Explain A Favorable Direct Labour Efficiency Variance?

Answer :Employees were of a higher skill level than specified in the standard, Suggestions for improved working methods were implemented
and Better quality materials were easier to process.

Question 17. Information On Standard Rates Of Pay Would Be Provided By

Answer :

a Human Resource Manager.

Question 18. Which Statements About Profit-volume Graphs Is Or Are Correct?

Answer :

Any point on the profit-volume line above the x-axis indicates the profit (as measured on the vertical axis) at that level of activity and The profit-volume line crosses the x-axis at the break-even point

Question 19. Which Is Or Are Likely To Use Service Costing?

Answer :

University and Five Star Hotel

Question 20. Which Costing Methods Is Most Likely To Be Used By A Company Involved In The Production Of Beverages?

Answer :

Process Costing.

Question 21. Absorption Costing Is Concerned With?

Answer :

variable and fixed costs.

Question 22. Which Are The Accounting Entries For The Return Of Unused Direct Materials From Production?

Answer :

Stores Control account in debit and Work-in-progress account in credit.

Question 23. If The Probability Of An Event A Occurring Is 0.7, Which Is Not Correct?

Answer :

Event A will certainly occur.

Question 24. The Matrix Inversion Method Of Solving A System Of Linear Equations Is
Not Applicable, If The Matrix Of Coefficients

Answer :is a singular matrix.

Question 25. Equipment Components Need To Be Replaced Because?

Answer :they are old and they wear out.

Question 26. The Set Of Some First Generation Banks Is Given As {uba, Fbn, Ubn, Wema}.
Find The Cardinality Of All Possible Subsets?

Answer :

16.

Question 27. The Inequalities In A Minimization Problem Must Be?

Answer :

greater than or equal to.

Question 28. The Main Purpose Of Allocating Goods From One Destination To Another Is To?

Answer :

minimize cost.

Question 29. The Total Salary Of Workers Of Tol Enterprise In 2007 Is N17.4 X 106 While It Is
N13.2 X 106 In 2004. Calculate The Percentage Average Index In 2007 Using
2004 As Base Year?

Answer :131.81