Quiz Space

May 2022 term · Business Data Management · BSMS2001

BDM End Term: 7 August 2022, Set QPB1 (May 2022 term)

The IIT Madras BS Business Data Management (BDM) End Term paper sat on 7 Aug 2022, in the May 2022 term, set QPB1: 39 questions for 40 marks in 180 minutes. Every question is below with its answer. Take it as a timed mock test to be marked, or read it through first.

Questions
39
Marks
40
Duration
180 min
MCQ
27
MSQ
7
Numerical
5
Take as mock testPractise with answers

Updated

Official paper: IIT M FOUNDATION DIPLOMA ENDTERM QPD1 07 Aug 2022 IBA NS · No negative marking.

Question 1

+1 markOne correct option

A good with a horizontal demand curve has a demand

  1. A

    With an income elasticity of demand as 0

  2. B

    With a price elasticity of demand as infinity

  3. C

    For which there are no substitute

  4. D

    With a price elasticity of demand as 0

Show answer

Correct answer

  • B

    With a price elasticity of demand as infinity

Question 1 on its own page

Question 2

+1 markOne correct option

Which of the following graphs shows the correct relationship between a firm’s average total cost and average variable cost curves?

  1. A
  2. B
  3. C
  4. D
Show answer

Correct answer

  • B
Question 2 on its own page

Question 3

+1 markOne correct option

Given the below figure on the relationship between price, supply and demand, what are the equilibrium price, surplus price and shortage price respectively?

  1. A

    Rs. 33, Rs. 40 and Rs. 50

  2. B

    Rs. 33, Rs. 50 and Rs. 40

  3. C

    Rs. 280, Rs. 300 and Rs. 200

  4. D

    Rs. 280, Rs. 200 and Rs. 300

Show answer

Correct answer

  • A

    Rs. 33, Rs. 40 and Rs. 50

Question 3 on its own page

Question 4

+1 markOne correct option

With the following data, figure out which SKU has the maximum Average Days of Inventory

Stock Keeping UnitOpen Stock in WarehouseAvg Daily Sales
F0134.214.0
F0224.15.8
F0319.95.1
F0419.63.9
  1. A

    F01

  2. B

    F02

  3. C

    F03

  4. D

    F04

Show answer

Correct answer

  • D

    F04

Question 4 on its own pageAlso asked in End Term 7 Aug 2022

Question 5

+1 markOne correct option

From the table, calculate the revenue growth on 8th July 2022 with respect to 7th July 2022 and select the closest option given below.

DateRevenue Generated
01-07-2022₹ 6,03,880
02-07-2022₹ 5,72,620
03-07-2022₹ 5,96,220
04-07-2022₹ 6,21,660
05-07-2022₹ 6,39,420
06-07-2022₹ 6,17,920
07-07-2022₹ 5,79,140
08-07-2022₹ 5,80,380
09-07-2022₹ 6,14,380
10-07-2022₹ 5,91,360
11-07-2022₹ 6,20,220
12-07-2022₹ 5,64,220
13-07-2022₹ 5,97,820
14-07-2022₹ 6,05,160
15-07-2022₹ 5,80,020
Grand Total₹ 89,84,420
  1. A

    3%

  2. B

    -3%

  3. C

    1%

  4. D

    0%

Show answer

Correct answer

  • D

    0%

Question 5 on its own pageAlso asked in End Term 7 Aug 2022

Question 6

+1 markOne correct option

Pareto chart does not identify ____________.

  1. A

    The Products which contribute to all of the company’s revenue and sales volumes

  2. B

    The Products which do not contribute at all towards the revenue and sales

  3. C

    Company’s best performing Products

  4. D

    Future Trends

Show answer

Correct answer

  • D

    Future Trends

Question 6 on its own pageAlso asked in End Term 7 Aug 2022

Question 7

+1 markOne correct option

Match the following.

1Pareto PrincipleaCurrent Assets - Current Liabilities
2Working CapitalbWith the available Open Stock, how many days of demand can be met?
3Average Days of Inventory Coverc80:20 Analysis
4BackorderdAccepting an order that is temporarily out of stock
  1. A

    1: c; 2: a; 3: b; 4: d

  2. B

    1: c; 2: b; 3: a; 4: d

  3. C

    1: a; 2: c; 3: b; 4: d

  4. D

    1: d; 2: a; 3: c; 4: b

Show answer

Correct answer

  • A

    1: c; 2: a; 3: b; 4: d

Question 7 on its own page

Question 8

+1 markOne correct option

When arranging the type of plans in ascending order, their duration of the plan (in terms of Time), Which of the following sequence is more appropriate for low technology and quick set up factory operation?

  1. A

    Strategic Plan – Capacity Requirement Plan – Purchase Plan – Production Plan – Shift Operation Plan

  2. B

    Shift Operation Plan – Production Plan – Purchase Plan – Capacity Requirement Plan – Strategic Plan

  3. C

    Shift Operation Plan – Production Plan – Purchase Plan – Strategic Plan - Capacity Requirement Plan

  4. D

    Shift Operation Plan – Purchase Plan – Production Plan – Capacity Requirement Plan – Strategic Plan

Show answer

Correct answer

  • B

    Shift Operation Plan – Production Plan – Purchase Plan – Capacity Requirement Plan – Strategic Plan

Question 8 on its own pageAlso asked in End Term 7 Aug 2022

Question 9

+1 markOne correct option

The graph below indicates which of the following

  1. A

    Order Quantity is constant between Mar-19 and Jan-20

  2. B

    Order Quantity follows production issues

  3. C

    Order Quantity is likely to be influenced by existing inventory

  4. D

    No meaningful conclusion can be arrived from the graph

Show answer

Correct answer

  • C

    Order Quantity is likely to be influenced by existing inventory

Question 9 on its own page

Question 10

+1 markOne correct option

Internal Pool Sourcing is_______________

  1. A

    pooling employees together to form a team

  2. B

    filling a vacant position from within the organisation

  3. C

    transferring an employee to the bench once the project is completed

  4. D

    firing an employee from the project

Show answer

Correct answer

  • B

    filling a vacant position from within the organisation

Question 10 on its own pageAlso asked in End Term 7 Aug 2022, End Term 11 Dec 2022

Question 11

+1 markOne correct option

Which of the following is typically not a component of the “job description”?

  1. A

    Skills required for the job

  2. B

    Key responsibilities

  3. C

    job performance indicators

  4. D

    recruitment process

Show answer

Correct answer

  • D

    recruitment process

Question 11 on its own pageAlso asked in End Term 7 Aug 2022, End Term 1 Sept 2024

Question 12

+1 markOne correct option

Which of the following is not true?

  1. A

    appraisal of the candidate is a mandatory input during the recruitment process

  2. B

    appraisal is the process of evaluating an employee’s current and/or past performance against certain predetermined standards

  3. C

    All organisations have formal or informal means of appraising their employees’ performance.

  4. D

    The performance appraisal process will include defining the job, appraising performance and providing feedback.

Show answer

Correct answer

  • A

    appraisal of the candidate is a mandatory input during the recruitment process

Question 12 on its own pageAlso asked in End Term 7 Aug 2022

Question 13

+1 markOne correct option

The graph below indicates which of the following.
This graph is based on the HR manager’s analysis of various job application channels. Please answer based on the graph only.

  1. A

    Third Party and Direct Website Advertisements contribute to the least application receipt per unit cost.

  2. B

    Employee Referral is the most preferred channel of application receipt

  3. C

    The likelihood of a candidate getting selected is higher when he applies through Linkedin rather than the employer’s Direct Website

  4. D

    Linkedin fares better than Third Party Sources in application receipt

Show answer

Correct answer

  • D

    Linkedin fares better than Third Party Sources in application receipt

Question 13 on its own page

Question 14

+1 markOne correct option

Which of the following is not an actionable inference from A/B Testing?

  1. A

    Understanding Purchase Behaviors of Customers

  2. B

    Promoting specific products

  3. C

    Deciding Stock Keeping Limits of Warehouses

  4. D

    Making UI/UX changes in the website

Show answer

Correct answer

  • C

    Deciding Stock Keeping Limits of Warehouses

Question 14 on its own pageAlso asked in End Term 7 Aug 2022

Question 15

+1 markOne correct option

The following graph shows the distribution of Funding Instruments used on Mobile Devices by users for various purchases. State whether the following statement is True or False
Statement : The chart follows the Pareto Principle.

  1. A

    TRUE

  2. B

    FALSE

Show answer

Correct answer

  • B

    FALSE

Question 15 on its own page

Question 16

+1 markOne correct option

Point out the drawback of BNPL (Buy Now Pay Later) for companies.

  1. A

    It increases the level of engagement of customers

  2. B

    Increases prospects of defaulting by customer

  3. C

    Enables Cash-Strapped millennials to make purchases

  4. D

    Shift’s user’s loyalty away from the competition

Show answer

Correct answer

  • B

    Increases prospects of defaulting by customer

Question 16 on its own pageAlso asked in End Term 7 Aug 2022

Question 17

+1 markOne correct option

If a FinTech company wants to cut down losses, which of the following should they do?

  1. A

    Increase approval cutoff of credit score

  2. B

    Decrease approval cutoff of credit score

  3. C

    Increase approval limit for loans

  4. D

    Give more loans

Show answer

Correct answer

  • A

    Increase approval cutoff of credit score

Question 17 on its own pageAlso asked in End Term 7 Aug 2022

Question 18

+1 markOne or more correct options

From the following Figure and options, which quadrant products will be placed in the secure area? - Select all that apply

Select all that apply.

  1. A

    I

  2. B

    II

  3. C

    III

  4. D

    IV

Show answer

Correct answers

  • B

    II

  • C

    III

Question 18 on its own page

Question 19

+1 markOne or more correct options

Increase in which of the following items reduces the Net Margin? Choose all that apply

Select all that apply.

  1. A

    Revenue

  2. B

    Direct Material Cost

  3. C

    Direct Labour Cost

  4. D

    Shipping Cost

  5. E

    Tax on the Manufactured Product

Show answer

Correct answers

  • B

    Direct Material Cost

  • C

    Direct Labour Cost

  • D

    Shipping Cost

  • E

    Tax on the Manufactured Product

Question 19 on its own pageAlso asked in End Term 7 Aug 2022

Question 20

+1 markOne or more correct options

Enterprise Resource Planning (ERP) enables the integration of which of the following domains. Choose all that apply

Select all that apply.

  1. A

    Sales and Marketing

  2. B

    Operations

  3. C

    Human Resources

  4. D

    Logistics

Show answer

Correct answers

  • A

    Sales and Marketing

  • B

    Operations

  • C

    Human Resources

  • D

    Logistics

Question 20 on its own pageAlso asked in End Term 7 Aug 2022

Question 21

+1 markOne or more correct options

In which recruiting process(es) would an HR manager be dealing with qualitative (subjective) data? Choose all that apply

Select all that apply.

  1. A

    resume shortlisting

  2. B

    job planning

  3. C

    interview scheduling

  4. D

    interview

Show answer

Correct answers

  • A

    resume shortlisting

  • B

    job planning

  • D

    interview

Question 21 on its own pageAlso asked in End Term 7 Aug 2022

Question 22

+1 markOne or more correct options

Which parameters would be useful during a typical “Resume Shortlisting” exercise? Choose all that apply

Select all that apply.

  1. A

    Last drawn Salary

  2. B

    Skill set of the Employee

  3. C

    Years of Work Experience

  4. D

    Hobbies of the Employee

Show answer

Correct answers

  • A

    Last drawn Salary

  • B

    Skill set of the Employee

  • C

    Years of Work Experience

Question 22 on its own pageAlso asked in End Term 7 Aug 2022

Question 23

+1 markOne or more correct options

From a Credit approver’s perspective, who among the following would be allowed to draw a credit for purchases?

Select all that apply.

  1. A

    Person A with low credit score with low engagement with the platform

  2. B

    Person B with High credit score, with low engagement with the platform

  3. C

    Person C with Average Credit Score, with High Engagement with the platform

  4. D

    Person D with maximum number of credit cards with no credit score

Show answer

Correct answers

  • B

    Person B with High credit score, with low engagement with the platform

  • C

    Person C with Average Credit Score, with High Engagement with the platform

Question 23 on its own pageAlso asked in End Term 7 Aug 2022

Question 24

+1 markNumerical answer

A shift in the price of LPG from Rs. 760 per cylinder to Rs.840 per cylinder has reduced the quantity demanded from 41 thousand cylinders per day to 39 thousand cylinders per day. Then answer the given subquestions.

Then what is the price elasticity of the LPG cylinder demand (round your answer to two decimal places?

Show answer

Correct answer: 0.365 (accepted within ±0.015)

Question 24 on its own page

Question 25

+1 markOne correct option

A shift in the price of LPG from Rs. 760 per cylinder to Rs.840 per cylinder has reduced the quantity demanded from 41 thousand cylinders per day to 39 thousand cylinders per day. Then answer the given subquestions.

Based on the price elasticity of LPG cylinder demand, it can be said that

  1. A

    LPG cylinders are normal goods

  2. B

    LPG cylinders are inferior goods

  3. C

    LPG cylinders are necessity goods

  4. D

    None of these

Show answer

Correct answer

  • D

    None of these

Question 25 on its own page

Question 26

+1 markOne or more correct options

A shift in the price of LPG from Rs. 760 per cylinder to Rs.840 per cylinder has reduced the quantity demanded from 41 thousand cylinders per day to 39 thousand cylinders per day. Then answer the given subquestions.

Suppose, as the price of LPG increased, the demand for kerosene has changed from 400 litres per day to 500 litres per day. Then, which of the following statements are correct

Select all that apply.

  1. A

    LPG cylinder and Kerosene are complements to each other

  2. B

    Kerosene is a substitute for LPG cylinder

  3. C

    Both are items have no relation to each other

  4. D

    Cannot say, insufficient data

Show answer

Correct answer

  • B

    Kerosene is a substitute for LPG cylinder

Question 26 on its own page

Question 27

+1 markOne correct option

The data for producing a product is provided in the Table below. Using this information, match the curves given in the Figure to their respective representation in the subquestions

Curve-A represents

  1. A

    Average Total cost

  2. B

    Average variable cost

  3. C

    Marginal cost

  4. D

    None of these

Show answer

Correct answer

  • C

    Marginal cost

Question 27 on its own page

Question 28

+1 markOne correct option

The data for producing a product is provided in the Table below. Using this information, match the curves given in the Figure to their respective representation in the subquestions

Curve-B represents

  1. A

    Average Total cost

  2. B

    Average variable cost

  3. C

    Marginal cost

  4. D

    None of these

Show answer

Correct answer

  • A

    Average Total cost

Question 28 on its own page

Question 29

+1 markOne correct option

The data for producing a product is provided in the Table below. Using this information, match the curves given in the Figure to their respective representation in the subquestions

Curve-C represents

  1. A

    Average Total cost

  2. B

    Average variable cost

  3. C

    Marginal cost

  4. D

    None of these

Show answer

Correct answer

  • B

    Average variable cost

Question 29 on its own page

Question 30

+1 markOne correct option

Company HiringSoft wants to recruit Software Engineers for its new project. The hiring manager was tasked with choosing the appropriate hiring channel. The manager collected previous hiring data (provided in the table below) to help narrow down the appropriate channel. All channels advertised for the vacant positions on the same day.

Recruitment ChannelsApplication Received in 14 daysApplication ShortlistedNo. of Candidates appeared for InterviewNo. of Candidates SelectedCost of Advertisement for 14 Days (INR)
Employee Referrals40322412120000
Direct Company Website6012825000
Social and Professional Media2603616420000
Hiring Portals22090306100000
Print Ads20108150000

Based on the above data, answer the given subquestions.

Which channel has the best shortlist success rate? The Shortlist success rate is defined as the shortlisted applications to applications received.

  1. A

    Hiring Portals

  2. B

    Social and Professional Media

  3. C

    Print Ads

  4. D

    Employee Referrals

Show answer

Correct answer

  • D

    Employee Referrals

Question 30 on its own pageAlso asked in End Term 7 Aug 2022

Question 31

+1 markOne correct option

Company HiringSoft wants to recruit Software Engineers for its new project. The hiring manager was tasked with choosing the appropriate hiring channel. The manager collected previous hiring data (provided in the table below) to help narrow down the appropriate channel. All channels advertised for the vacant positions on the same day.

Recruitment ChannelsApplication Received in 14 daysApplication ShortlistedNo. of Candidates appeared for InterviewNo. of Candidates SelectedCost of Advertisement for 14 Days (INR)
Employee Referrals40322412120000
Direct Company Website6012825000
Social and Professional Media2603616420000
Hiring Portals22090306100000
Print Ads20108150000

Based on the above data, answer the given subquestions.

If the hiring manager has to go only with the parameter, cost per candidates selected, which would be the most appropriate channel?

  1. A

    Direct Company Website

  2. B

    Print Ads

  3. C

    Employee Referrals

  4. D

    Social and Professional Media

Show answer

Correct answer

  • A

    Direct Company Website

Question 31 on its own page

Question 32

+1 markOne correct option

Company HiringSoft wants to recruit Software Engineers for its new project. The hiring manager was tasked with choosing the appropriate hiring channel. The manager collected previous hiring data (provided in the table below) to help narrow down the appropriate channel. All channels advertised for the vacant positions on the same day.

Recruitment ChannelsApplication Received in 14 daysApplication ShortlistedNo. of Candidates appeared for InterviewNo. of Candidates SelectedCost of Advertisement for 14 Days (INR)
Employee Referrals40322412120000
Direct Company Website6012825000
Social and Professional Media2603616420000
Hiring Portals22090306100000
Print Ads20108150000

Based on the above data, answer the given subquestions.

Which channel has the worst selection success rate? The Selection success rate is defined as the no. of candidates selected to the no. of applications shortlisted.

  1. A

    Hiring Portals

  2. B

    Social and Professional Media

  3. C

    Print Ads

  4. D

    Employee Referrals

Show answer

Correct answer

  • A

    Hiring Portals

Question 32 on its own pageAlso asked in End Term 7 Aug 2022, End Term 22 Dec 2024

Question 33

+1 markNumerical answer

The below table provides the consolidated values of a company-X’s financial performance (ignore all other non-mentioned financial parameters). Using this, answer the given subquestions.

What is the gross profit margin (in %) for company-X (round to two decimal places)

Show answer

Correct answer: 40 (accepted within ±1)

Question 33 on its own page

Question 34

+1 markNumerical answer

The below table provides the consolidated values of a company-X’s financial performance (ignore all other non-mentioned financial parameters). Using this, answer the given subquestions.

What is the net profit for company-X?

Show answer

Correct answer: 87000

Question 34 on its own page

Question 35

+1 markNumerical answer

The below table provides the consolidated values of a company-X’s financial performance (ignore all other non-mentioned financial parameters). Using this, answer the given subquestions.

What is the current ratio for company-X (round to two decimal places)

Show answer

Correct answer: 1.4 (accepted within ±0.1)

Question 35 on its own page

Question 36

+1 markNumerical answer

The below table provides the consolidated values of a company-X’s financial performance (ignore all other non-mentioned financial parameters). Using this, answer the given subquestions.

What is the quick ratio for company-X (round to two decimal places)

Show answer

Correct answer: 1.00

Question 36 on its own page

Question 37

+1 markOne correct option

Please answer the given subquestions on the Overall Equipment Effectiveness of fasteners manufacturing.
Hint:
Just in case you forgot the formula
Availability = Run Time / Planned Production Time
Run Time = Planned Production Time − Lost Time
Performance = (Total Count / Run Time) / Ideal Run Rate
Quality = Good Count / Total Count
OEE = Availability × Performance × Quality

In a factory that manufactures fasteners, the bolt manufacturing process went out of control only in terms of the number of scraps produced. Which factor(s) of Overall Equipment Effectiveness (OEE) will be affected?
a) availability, b) performance, c) quality

  1. A

    only b

  2. B

    only c

  3. C

    b and c

  4. D

    only a

Show answer

Correct answer

  • B

    only c

Question 37 on its own pageAlso asked in End Term 7 Aug 2022

Question 38

+2 marksOne correct option

Please answer the given subquestions on the Overall Equipment Effectiveness of fasteners manufacturing.
Hint:
Just in case you forgot the formula
Availability = Run Time / Planned Production Time
Run Time = Planned Production Time − Lost Time
Performance = (Total Count / Run Time) / Ideal Run Rate
Quality = Good Count / Total Count
OEE = Availability × Performance × Quality

Calculate the OEE of the Bolt Manufacturing Equipment

ParametersWeek 1
Planned Production Hours (PPH)100
Lost Time (LOT)16
Designed Gear Output Speed from Equipment (DO) per Hour60
Total Product Output4650
Scrap (S)143

Hint: Choose the closest Answer

  1. A

    0.83

  2. B

    0.75

  3. C

    0.90

  4. D

    Insufficient Information

Show answer

Correct answer

  • B

    0.75

Question 38 on its own pageAlso asked in End Term 7 Aug 2022

Question 39

+1 markOne correct option

Please answer the given subquestions on the Overall Equipment Effectiveness of fasteners manufacturing.
Hint:
Just in case you forgot the formula
Availability = Run Time / Planned Production Time
Run Time = Planned Production Time − Lost Time
Performance = (Total Count / Run Time) / Ideal Run Rate
Quality = Good Count / Total Count
OEE = Availability × Performance × Quality

An 8-hour no downtime shift has an OEE of 0.90 performing at its designed speed and produces a total scrap of 90 units. What is the total number of units produced in the shift?

  1. A

    810

  2. B

    9000

  3. C

    900

  4. D

    Insufficient Information

Show answer

Correct answer

  • C

    900

Question 39 on its own pageAlso asked in End Term 7 Aug 2022