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101.

Which of the following numbers has three significant figures

A.	0.0024	B.	0.00243
C.	0.0243	D.	2.4301

102.

If the upper and lower control limits are within the allowable width, but are widely separated from them, it can be concluded that

A.	control is good but limits need to be re-established	B.	the sampling plan needs revision
C.	A cheaper and less precise machine might be used	D.	control is excellent and no action is needed

103.

Bar charts are considered to be suitable for

A.	minor works	B.	major works
C.	dam construction	D.	large projects

104.

Average fixed cost

A.	falls as long as output rises	B.	rises as long as output rises
C.	is determined by adding average variable cost and average total cost	D.	is cut by marginal cost at its lowest point

105.

Of the following, which one is not a factor that would result in economics of scale?

A.	More efficient use of the firm's plant	B.	More efficient use of the firm's by products
C.	More specialisation and division of labour	D.	Lower borrowing cost when the firm borrows

106.

If we assume that price decreases as total expenditure increases, we may conclude that

A.	elasticity of demand is greater than unity	B.	elasticity of demand is less than unity
C.	elasticity of demand is equal to unity	D.	elasticity of demand is a function of market trends

107.

Which of the following methods are used for system analysis

A.	Linear programming	B.	Waiting line model
C.	Simulation model	D.	All of the above

108.

For which of the following situations, linear programming can be applied?

A.	Maximising material insulation	B.	Procurement problems
C.	Scheduling of production to meet sales forecast	D.	All of the above

109.

Monte Carlo simulation of queues is used when

A.	arrival time distributions are not standard	B.	service time distributions are not standard
C.	mathematical analysis cannot be adopted	D.	All of the above

110.

A coloth dealer has to place an order for a new fashioned ladies sarees, but he understands that it would be outdated fairly soon. Further, he does not know the exact demand of the dress. His decision for stock will be

A.	decision under certainty	B.	decision under uncertainty
C.	decision under risk	D.	decision under conflict