Classical

December 2014 - Paper 3

61:  

Consider the following statements :

1. A redundant constraint in an LP problem results in an infeasible solution.

2. A degenerate solution is totally meaningless to a manager.

3. The EOQ model of inventory management can be applied for determining the optimal production lot size.

4. LP technique cannot be used for finding the scope for increasing the price, without disturbing the optimal product mix.

A.

Only statements 1 and 3 are true.

B.

Only statement 3 is true.

C.

Only statements 1 and 2 are true.

D.

None of the statements is true.

 
 

Option: B

Explanation :

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62:  

Match the items of List - I with those of List - II :

            List-I                                                                                                                                           List-II

a. The tendency to draw a general impression about an individual on the basis of a single characteristic. i. Golem effect

b. A belief that all members of specific groups share similar traits and are prone to behave the same way. ii. Halo effect

c. A form of self-fulfilling prophecy in which believing something can make it come true.  iii. Pygmalion effect

d. An instance of self-fulfilling prophecy in which people holding low expectations of another tend to lower that individual's performance.      iv. Stereotype

A.

Codes :

a  b  c  d

i  ii  iii iv

B.

Codes :

a  b  c  d

ii  i  iii iv

C.

Codes :

a  b  c  d

ii  i  iv iii

D.

Codes :

a  b  c  d

ii  iv  iii i

 
 

Option: D

Explanation :

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63:  

A market penetration pricing strategy is suitable when

A.

lower price encourages actual competition.

B.

the demand of the product is inelastic.

C.

the production and distribution costs fall with increasing production.

D.

a high price discourages competitors from entering the market.

 
 

Option: C

Explanation :

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64:  

Which of the following is not a characteristic of normal probability distribution?

A.

The curve has a single peak.

B.

The mean, median and mode lie at the centre of the normal curve.

C.

The two tails of the normal probability distribution never touch the horizontal axis.

D.

It is a distribution of discrete random variable.

 
 

Option: D

Explanation :

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65:  

According to the 'two-step flow' concept, messages should be targeted to

A.

opinion leaders

B.

the mass audience

C.

the upper class

D.

unsegmented audience

 
 

Option: A

Explanation :

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