Write down the models in operations research?

map, activity charts balance sheets, PERT network, break-even equation, economic ordering quantity
equation

Define nonfeasible solution?

Under the Simplex Method, the problem is said to have no feasible solution if at least one of the artificial
variable remains in the final simplex table as basic variable with non-zero quantity

What is optimum solution?

An optimal solution is a feasible solution where the objective function reaches its maximum (or
minimum) value, that means the maximum profit or the least cost

Write down the types of transportation problem?

Balanced Transportation Problems

Unbalanced Transportation Problems

North West Corner Rule

Least Cost Method

Vogel's Approximatly Method

Define Non Degenerate Basic Feasible Solution ?

If a basic feasible solution to a transportation problem contains exactly m+n-1 allocations in independent
positions, it is called a non degenerate basic feasible solution

What is the difference between PERT and CPM

Define total float ?

Total float is the amount of time a scheduled activity can be delayed without delaying the overall project
completion date

What is testing of Hypothesis?

A statistical hypothesis test is a method of statistical inference used to decide whether the data at hand
sufficiently support a particular hypothesis. Hypothesis testing allows us to make probabilistic
statements about population parameters

Write down the types of errors.

Gross Errors.

Random Errors.

Systematic Errors.

Define chi square test ?

A chi-squared test is a statistical hypothesis test used in the analysis of contingency tables when the
sample sizes are large. In simpler terms, this test is primarily used to examine whether two categorical
variables are independent in influencing the test statistic

Write down the Characteristic of operations research.

Three essential characteristics of operations research are a systems orientation, the use of
interdisciplinary teams, and the application of scientific method to the conditions under which the
research is conducted

Define feasible solution.

In the theory of linear programming, a basic feasible solution is a solution with a minimal set of non-zero
variables. Geometrically, each BFS corresponds to a corner of the polyhedron of feasible solutions. If
there exists an optimal solution, then there exists an optimal BFS

What is surplus variable?

A Surplus variable is a type of additional variable in the Simplex method of Linear Programming
Problems. It refers to indicate the quantity of unused resources by which the left-hand side of the
referred equation exceeds the minimum limit
Define free float.

Free-float refers to those shares which are readily available for trading in the stock market. It generally
excludes promoters' holding, government / strategic holding and other locked-in shares, which will not
come to the market for trading in the normal course.

Write down the types of random variable

There are three types of random variables- discrete random variables, continuous random variables, and
mixed random variables.