MTH601 Quiz 2 November 2025

Quiz 1 - MTH601

Question:

Which is the following reason is essential for an enterprise to have an inventory?

1. It helps in minimizing the loss due to deterioration, obsolescence, damage etc.
2. It helps in maintaining economy by absorbing some of the fluctuations when the demand of an item fluctuates or is seasonal.
3. All above reasons are equivalent.
4. Take advantage of price discounts by bulk purchasing.

Correct answer: All above reasons are equivalent.

Copied: 11/26/2025, 12:30:38 PM

Quiz 2 - MTH601

Question:

Which of the fiollowing is an intermediate step to model a linear programming problem?

1. Identify the objective function
2. None of these
3. Identify the non-negative restrictions and constraints
4. Identify the unknown decision variables

Correct answer: Identify the unknown decision variables

Copied: 11/26/2025, 12:30:51 PM

Quiz 3 - MTH601

Question:

Which of the following is a key characteristic of deterministic inventory models?

1. Inventory costs fluctuate significantly.
2. Stockouts are a regular occurrence.
3. Key parameters are known with certainty.
4. Demand for the product is unpredictable.

Copied: 11/26/2025, 12:31:14 PM

Quiz 4 - MTH601

Question:

You're managing inventory for a product with stable, predictable demand and reliable suppliers. Which type of model is likely a better fit?

1. Deterministic model
2. Neither type of model is applicable
3. Probabilistic model
4. A hybrid model combining both approaches

Correct answer: Deterministic model

Copied: 11/26/2025, 12:31:32 PM

Quiz 5 - MTH601

Question:

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?

A. 2nd month demand will have to fulfill in 2nd month

B. 2nd month demand can be included in 3rd month

C. 2nd month demand can be included in any month of the year D. 2nd month demand can be included in 1st month Copied: 11/26/2025, 12:31:47 PM

Quiz 6 - MTH601

Question:

Which of the following is the meaning of ‘Linear’?

1. Relationship between the variables is finite or infinite
2. Relationship between the variables is a straight line
3. Relationship between the variables is a curvilinear
4. Relationship between the variables is discrete line

Correct answer: Relationship between the variables is a straight line

Copied: 11/26/2025, 12:32:08 PM