# Management Questions and Answers for Competitive Exams | MBA BBA Quiz Set 24

Questions
1 Which one of the following operations research models is categorized on the basis of the utility of the model ?
1 Simulation models
2 Predictive models
3 Analogue models
4 Deterministic models

2 Which one of the following criteria of decision-making under the state of uncertainty is based on the opportunity loss decision approach ?
1 Maximin or Minimax
2 Laplace criterion
3 Hurwicz criterion
4 Criterion of regret

3 The product control is achieved through what ?
1 Control charts
2 Acceptance sampling plans
3 Both (1) and (2)
4 None of the above

4 Which one of the following is a condition when sampling distribution of mean is not normal ?
1 Population distribution is normal and sample size is more than 30.
2 Population distribution is not normal and sample size is small (< 30).
3 Population distribution is not normal but sample size is large (> 30).
4 Population distribution is normal and sample size is less than 30

Answer:Population distribution is not normal and sample size is small (< 30).
5 Statement – I : Exponential probability distribution is closely related with Poisson distribution.

Statement – II : Mean, median and mode of the normal distribution are equal.

Statement – III : The standard deviation of the binomial distribution is np when n denotes number of observations and p the probability of success.

Codes :
1 Statements – II and III are true while Statement – I is false.
2 Statements – I and III are true while Statement – II is false.
3 Statements – I and II are true while Statement – III is false.
4 All the three statements are true.

Answer:Statements – I and II are true while Statement – III is false.
6 Which one of the following requires additional information to calculate coefficient of correlation between two variables when the data are collected on ratio scale ?
1 Square root of the coefficient of determination.
2 Geometric mean of the two regression coefficients relating to two variables x and y.
3 Covariance divided by the product of standard deviations of variables x and y.
4 Reciprocal of the product of the standard deviations of two variables.

Answer:Reciprocal of the product of the standard deviations of two variables.
7 Which of the following statements are true ?

(i) The probability of making I-type error (alpha) in hypothesis testing is referred to as the level of significance.

(ii) When the calculated value of x2 is more than the table value of x2 at given degrees of freedom and level of significance, the null hypothesis is accepted.

(iii) Standard deviation of sampling distribution of mean is called standard error.

(iv) For one tailed test, the critical value of Z at 5% level of significance is 1.96.

Codes :
1 (i), (iii) and (iv)
2 (ii) and (iv)
3 (i) and (iii)
4 (ii) and (iii)

8 The industry, in which competitive advantage in one country is strongly influenced by position in other country, is known as :
1 Multi-domestic industry
2 Parallel industry
3 Global industry
4 None of the above

9 Assertion (A) : BCG matrix and IE matrix both are called “portfolio matrices”.

Reason (R) : They involve plotting organisation divisions in a schematic diagram.

Codes :
1 Both (A) and (R) are correct, but (R) is not the right explanation of (A).
2 Both (A) and (R) are correct and (R) is the right explanation of (A).
3 (A) is correct, but (R) is not correct.
4 (A) is not correct, but (R) is correct

Answer:Both (A) and (R) are correct and (R) is the right explanation of (A).
10 Consider the following statements with reference to “strategic management” of a corporate :

(a) External opportunities are creating similar type of consumer across the world.

(b) The process of conducting research and gathering and assimilating external information is sometimes called as environmental scanning.

(c) Lobbying is one activity that some organizations utilize to influence external opportunities and threats.

(d) Relative deficiency or superiority is not a part of analysis of corporate strategy.

Indicate the correct option :

1 Statements (b) and (c) are true, others are false.
2 Statements (a) and (c) are true, others are false.
3 Statements (c) and (d) are true, others are false.
4 Statements (a) and (d) are true, others are false.

Answer: Statements (b) and (c) are true, others are false.
11 Consider the following statements :

Statement – I : When a company embarks on a global standardization strategy in today’s world, it locates its manufacturing and other value chain activities.

Statement – II : Global standardization strategy need not find a structure that lowers the bureaucratic costs of resource transfers.

Statement – III : The global product-group structure is weak in rsponsiveness to customers.

Code :
1 Statement II is correct, others are incorrect.
2 Statement I & III are correct, II is incorrect.
3 Statement I is correct, others are incorrect.
4 Statement III is correct, others are incorrect.

Answer:Statement I & III are correct, II is incorrect.
12 Consider the following statements :

Statement – I : The entrepreneur has to be a mere manager. He (or she) may not be an innovator and promoter as well.

Statement – II : An entrepreneur always searches for change, responds to it and exploits it as an opportunity.

Statement – III : The government should not try to push the entrepreneurship beyond the boundaries of a business unit.

Code :
1 Statement I is only true, others are false.
2 Statement II is only true, others are false.
3 Statement II & III are true, statement I is false.
4 All the statements are true.

Answer: Statement II is only true, others are false.
13 Assertion (A) : Business opportunity is an attractive project which motivates the entrepreneur to accept the project for making investment decision.

Reason (R) : A business possibility may take the shape of business opportunity only when it improves social endowments.

Codes :
1 (A) is correct, but (R) is incorrect.
2 (A) is incorrect, but (R) is correct.
3 Both (A) and (R) are correct, but (R) is not the right explanation of (A).
4 Both (A) and (R) are correct and (R) is the right explanation of (A).

Answer:(A) is correct, but (R) is incorrect.
14 What among the following is meant to assess the performance of a business in the field of social responsibility ?
1 Social accounting
2 Social responsibility accounting
3 Social audit
4 Social accounting index

15 Combination I : The Classical Economical Model (CSR) – It is believed that an invisible hand promoted public welfare.

Combination II : The Socio-economic Model (CSR) – Business is seen as on subsystem among many in a highly interdependent society.

Codes :
1 I is correct but II is incorrect
2 II is correct but I is incorrect.
3 Both I and II are correct
4 Both I and II are incorrect.

Answer: Both I and II are correct

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