MTH601 Quiz 3 Solution and Discussion

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Quiz No. 2
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The amount of the inventory will always taken to be ----------- MTH601
Negative

A single cycle consists of two phases in case of “Manufacturing without Shortage ”, then which of the following is the first phase? MTH601
Withdrawl of items from inventory at constant rate in per unit of time

If the demand of an item is occurred in the period of stock out and it is satisfied at the beginning of the next cycle then such type of problem will discuss under which of the following? MTH601
Purchasing Model with no shortages

If an item is manufactured, then the direct or indirect material, labor, and overhead expenses are referred to -----------. MTH601
Item cost

In which of the following model, the Carrying Cost per unit of time is reduced in the ratio (1-D/R):1 ? MTH601
Purchasing Model without Shortage

In the context of Wilson’s model, at time t = 0, the quantity ‘Q’ of the product is--------- in the inventory. MTH601 Minimum

Which of the following quantity will vary in case of Dynamic Order Quantity Model?

Demand

The parameters like demand and ordering quantity cost are quite --------- in the Deterministic inventory models. MTH601
unCertain

Objective of inventory control is to balance between the advantage of having inventories and the --------- of carrying them to arrive at an optimal level of inventories to minimize the total inventory cost. MTH601
demand

Which of the following category of items in ABC analysis needs special attention by the management? MTH601
All category

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QUIZ Data Solved
Operations Research– MTH601 Total Marks : 10

QUIZ Marks:10

Question # 1 of 10 ( Start time: 03:56:10 PM ) Total Marks: 1
In the Purchasing Model with Shortages the Cost Function ‘C(S,Q)’ can also be expressed as function of --------------.
Select correct option:
(t,D)
(Q,D)
(S,t)
(S,D)

Question # 2 of 10 ( Start time: 03:57:35 PM ) Total Marks: 1
Under which of the following condition the economic order quantity in case of Purchasing Model with Shortage can be transformed into Purchasing Model with no Shortage?
Select correct option:
When shortage Cost tends to zero
When Shortage Cost tends to infinity
When Carrying Cost tends to zero
When Carrying Cost tends to infinity

Question # 3 of 10 ( Start time: 03:58:39 PM ) Total Marks: 1
If the demand of an item is occurred in the period of stock out and it is satisfied at the beginning of the next cycle then such type of problem will discuss under which of the following?
Select correct option:
Purchasing Model with shortages
Purchasing Model with no shortages

Question # 4 of 10 ( Start time: 03:59:39 PM ) Total Marks: 1
By putting the Replacement Rate ‘R?Infinity’ and Shortage Cost ‘C4?Infinity’ in the Economic Order Quantity(EOQ) of Manufacturing Model with allowed Shortage, then the result is -----------
Select correct option:
EOQ of Wilson’s Model
EOQ of Manufacturing Model without Shortage
EOQ of Purchasing Model with allowed Shortage
Invariant

Question # 5 of 10 ( Start time: 04:00:56 PM ) Total Marks: 1
In the graph of Purchasing Model with shortages, the area above the horizontal axis represents -----------.
Select correct option:
set up cost of item
shortage cost of item
purchase cost of item
carrying cost of item

Question # 6 of 10 ( Start time: 04:02:13 PM ) Total Marks: 1
Which of the following is the is major assumed difference between the models of Purchasing and Manufacting without shortage ?
Select correct option:
Replacement rate
Shortage
Demand
Item, Setup and Holding Costs

Question # 7 of 10 ( Start time: 04:03:29 PM ) Total Marks: 1
The Economic Order Quantity in case of Manufacturing Model without Shortage can be transformed into Purchasing Model without Shortage by which of the following substitution?
Select correct option:
When Replacement rate ‘R’ approaches zero
When Replacement rate ‘R’ approaches infinity
When Demand rate approaches zero
When Demand rate approaches infinity

Question # 8 of 10 ( Start time: 04:04:36 PM ) Total Marks: 1
In the Dynamic Order Quantity problem if the ratio of Setup and Carrying Costs is ‘500’ and the Demands of 2nd and 3rd months are 50 and 120 respectively then which of the following is true about the 2nd month’s requirment?
Select correct option:
2nd month demand can be included in 1st month
2nd month demand will have to fulfill in 2nd month
2nd month demand can be included in 3rd month
2nd month demand can be included in any month of the year

Quiz Start Time: 03:56 PM
Time Left 88
sec(s)
Question # 9 of 10 ( Start time: 04:05:25 PM ) Total Marks: 1
Which of the following category of items in ABC analysis has the maximum Holding Cost?
Select correct option:
A category
B category
C category
All categories’’ items have equal Holding Costs

Quiz Start Time: 03:56 PM
Time Left 89
sec(s)
Question # 10 of 10 ( Start time: 04:05:47 PM ) Total Marks: 1
For ABC analysis, in the Random Sample of some items, the ranks to the items are assigned with respect to their ----------------.
Select correct option:
lowest annual unit cost
largest annual unit cost
lowest annual usage value
largest annual usage value

Quiz Start Time: 04:18 PM
Time Left 86
sec(s)
Question # 1 of 10 ( Start time: 04:18:31 PM ) Total Marks: 1
In the Dynamic Order Quantity problem if the ratio of Setup and Carrying Costs is ‘500’ and the Demands of 2nd and 3rd months are 50 and 130 respectively then which of the following is true about the 2nd month’s requirment?
Select correct option:
2nd month demand can be included in 1st month
2nd month demand will have to fulfill in 2nd month
2nd month demand can be included in 3rd month
2nd month demand can be included in any month of the year
[4:19:35 PM] Abu Bakar:
BC100401595 : Abubakar Khalid

Question # 2 of 10 ( Start time: 04:19:29 PM ) Total Marks: 1
A single cycle consists of two phases in case of “Manufacturing without Shortage ”, then which of the following is the first phase?
Select correct option:
Withdrawal of items from inventory at constant rate in per unit of time
The inventory is assembled at constant rate per unit of time

Question # 3 of 10 ( Start time: 04:20:21 PM ) Total Marks: 1
Which of the following is the is major assumed difference between the models of Purchasing and Manufacting without shortage ?
Select correct option:
Replacement rate
Shortage
Demand

Quiz Start Time: 04:18 PM
Time Left 88
sec(s)
Question # 4 of 10 ( Start time: 04:20:39 PM ) Total Marks: 1
In the Dynamic Order Quantity problem if the ratio of Setup and Carrying Costs is ‘500’ and the Demands of 2nd and 3rd months are 50 and 120 respectively then which of the following is true about the 2nd month’s requirment?
Select correct option:
2nd month demand can be included in 1st month
2nd month demand will have to fulfill in 2nd month
2nd month demand can be included in 3rd month
2nd month demand can be included in any month of the year

Question # 5 of 10 ( Start time: 04:21:56 PM ) Total Marks: 1
In which of the following model, the Carrying Cost per unit of time is reduced in the ratio (1-D/R):1 ?
Select correct option:
Purchasing Model without Shortage
Manufacturing Model without Shortage
Purchasing Model with allowed Shortage
Manufacturing Model with allowed Shortage

Question # 6 of 10 ( Start time: 04:23:22 PM ) Total Marks: 1
In the Dynamic Order Quantity problem, the Demands of all succeeding months can be included in the demand of preceding one provided that ------------.
Select correct option:
Item and Holding Costs are balanced
Shortage and Setup Costs are balanced
Setup and Holding Costs are balanced
Shortage and Item Costs are balanced

Question # 7 of 10 ( Start time: 04:23:45 PM ) Total Marks: 1
By putting the replacement rate ‘R?infinity’ in the Economic Order Quantity(EOQ) of Manufacturing Model with allowed Shortage, then the result is -----------.
Select correct option:
EOQ of Purchasing Model without Shortage
EOQ of Manufacturing Model without Shortage
EOQ of Purchasing Model with allowed Shortage
invariant

Question # 8 of 10 ( Start time: 04:24:58 PM ) Total Marks: 1
In the graph of Purchasing Model with shortages, the area above the horizontal axis represents -----------.
Select correct option:
set up cost of item
shortage cost of item
purchase cost of item
carrying cost of item

Quiz Start Time: 04:18 PM
Time Left 85
sec(s)
Question # 9 of 10 ( Start time: 04:26:27 PM ) Total Marks: 1
If the purchases are made in large quantities then the Economic Order Quanti ty model may fail because --------------.
Select correct option:
the Holding Cost will increase
the Holding Cost will decrease
the Setup Cost will increase
the Setup Cost will decrease

Question # 10 of 10 ( Start time: 04:27:13 PM ) Total Marks: 1
If the total inventory in one cycle of ‘t’ units of time is ‘(1/2)Qt’, then which of the following is the average inventory at any time?
Select correct option:
Q/t
Q/2
(Q/2)t
2Q

Question # 1 of 10 ( Start time: 04:28:57 PM ) Total Marks: 1
In the Dynamic Order Quantity problem if the ratio of Setup and Carrying Costs is ‘500’ and the Demands of 2nd and 3rd months are 50 and 130 respectively then which of the following is true about the 2nd month’s requirment?
Select correct option:
2nd month demand can be included in 1st month
2nd month demand will have to fulfill in 2nd month
2nd month demand can be included in 3rd month
2nd month demand can be included in any month of the year

Question # 2 of 10 ( Start time: 04:29:14 PM ) Total Marks: 1
In the ABC analysis, the items are classified into three categories with respect their--------------.
Select correct option:
cost value
demand value
turn over value
mark up value

Question # 3 of 10 ( Start time: 04:29:36 PM ) Total Marks: 1
Which of the following is true about the Manufacturing model without Shortage?
Select correct option:
Demand rate = Replacement rate
Demand rate > Replacement rate
Demand rate < Replacement rate
None of the above choices

Question # 4 of 10 ( Start time: 04:30:42 PM ) Total Marks: 1
A single cycle consists of two phases in case of “Manufacturing without Shortage ”, then which of the following is the first phase?
Select correct option:
Withdrawal of items from inventory at constant rate in per unit of time
The inventory is assembled at constant rate per unit of time

Question # 5 of 10 ( Start time: 04:30:55 PM ) Total Marks: 1
Which of the following category of items in ABC analysis has the maximum Holding Cost?
Select correct option:
A category
B category
C category
All categories’’ items have equal Holding Costs

Question # 6 of 10 ( Start time: 04:31:12 PM ) Total Marks: 1
Under which of the following condition the economic order quantity in case of Purchasing Model with Shortage can be transformed into Purchasing Model with no Shortage?
Select correct option:
When shortage Cost tends to zero
When Shortag Cost tends to infinity
When Carrying Cost tends to zero
When Carrying Cost tends to infinity

Question # 7 of 10 ( Start time: 04:32:09 PM ) Total Marks: 1
By putting the replacement rate ‘R?infinity’ in the Economic Order Quantity(EOQ) of Manufacturing Model with allowed Shortage, then the result is -----------.
Select correct option:
EOQ of Purchasing Model without Shortage
EOQ of Manufacturing Model without Shortage
EOQ of Purchasing Model with allowed Shortage
invariant

Question # 8 of 10 ( Start time: 04:32:28 PM ) Total Marks: 1
In the Purchasing Model with Shortages the Cost Function ‘C(S,Q)’ can also be expressed as function of --------------.
Select correct option:
(t,D)
(Q,D)
(S,t)
(S,D)

Question # 9 of 10 ( Start time: 04:32:40 PM ) Total Marks: 1
Which of the following is the major objective of the ABC analysis of inventory?
Select correct option:
To fulfill the demand of items
To replace the required items in proper time
To control the inventories
To classify the items in different categories
Quiz Start Time: 04:28 PM
Time Left 89
sec(s)
Question # 10 of 10 ( Start time: 04:32:59 PM ) Total Marks: 1
Which of the following quantity will vary in case of Dynamic Order Quantity Model?
Select correct option:
Setup Cost
Carrying Cost
Item Cost
Demand

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1. The insensitivity of the solution relative to the original decision variables in an LP problem which is solved by M-method is overcome by ----------. MTH601
   Simplex method

2. In Big M-method, if the objective function is expressed in terms of non-basic variable then the coefficient of artificial variable in this iteration must be -------. MTH601
   M

3. In two phase method, for the phase-I, if the objective function in terms of artificial variables is not minimized then the given problem has----------. MTH601
   Feasible solution

4. In the initial iteration of Big M-method, the artificial variables appear in ---------. MTH601
   Basis

5. In two phase method, which of the following will be taken as starting solution for 2nd phase? MTH601
   Basic solution of 1st phase containing non-zero artificial variables

6. In the Simplex method to solve an LP problem of minimization, if at the end of iteration, there is a positive coefficient in the objective row then the given problem -------------. MTH601
   can not be optimized

7. In the Simplex method to solve an LP problem of maximization, if at the end of an iteration, there is a negative coefficient in the objective row then the given problem---------. MTH601
   needs further improvement

8. In an LP problem, to evaluate the basic variables in Simplex method in any iteration, we would have to express Objective function in terms of ------------- variables. MTH601
   Artificial

9. Which of the following is true about the inclusion of non-negative slack variable into a constraint of type ‘less than or equal’? MTH601
   This inclusion doest not affect the inequality

10. Under which of the following condition to solve an LP by using two phase method, we can’t proceed for 2nd phase? MTH601
    Objective function of 1st phase has zero value.