The IIT Madras BS Industry 4.0 (Industry 4.0) Quiz 2 paper sat on 2 Apr 2023, in the January 2023 term, set 1: 11 questions for 23 marks in 120 minutes. Every question is below with its answer. Take it as a timed mock test to be marked, or read it through first.
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YES
NO
Correct answer
YES
Identify the decision theoretic problem(s)
Order size for an SKU by a store
Revenue sharing percentage between a store and his supplier
Negotiation between the labour union and executives of a factory .
Where to build a new warehouse for a company.
Correct answers
Order size for an SKU by a store
Where to build a new warehouse for a company.
Select the correct segment of a supply chain from Column B for the movement types in Column A. Note that one-to-one mapping in the table is not necessary.
Select the correct segment of a supply chain from Column B for the movement types in Column A. Note that one-to-one mapping in the table is not necessary.
a.1:b.1, a.2:b.3, a.3:b.2
a.1:b.2, a.2:b.2, a.3:b.3
a.1:b.3, a.2:b.1, a.3:b.2
a.1:b.2, a.2:b.3, a.3:b.1
Correct answer
a.1:b.2, a.2:b.2, a.3:b.3
Choose the correct term from the Column B for the description given in Column A. Note that one to-one mapping in the table is not necessary.
Choose the correct term from the Column B for the description given in Column A. Note that one to-one mapping in the table is not necessary.
a.1 : b.2, a.2 : b.4, a.3: b.6
a.1 : b.3, a.2 : b.1, a.3: b.3
a.1 : b.4, a.2 : b.1, a.3: b.3
a.1 : b.5, a.2 : b.3, a.3: b.1
Correct answer
a.1 : b.4, a.2 : b.1, a.3: b.3
Choose the correct category in Column B for the costs in Column A
Choose the correct category in Column B for the costs in Column A
(1):(c), (2):(b), (3):(a)
(1):(c), (2):(a), (3):(b)
(1):(b), (2):(a), (3):(c)
(1):(b), (2):(c), (3):(a)
Correct answer
(1):(b), (2):(c), (3):(a)
Ramu purchases a Diwali light at Rs.10 to and earns Rs 20 by selling it in the market. Any light not sold by Diwali will be discounted to Rs. 5. If the demand for Diwali light is normally distributed with mean 10,000 units and standard deviation of 1,000 units answer the given subquestions:
What is the critical ratio
A written answer, not marked automatically.
Ramu purchases a Diwali light at Rs.10 to and earns Rs 20 by selling it in the market. Any light not sold by Diwali will be discounted to Rs. 5. If the demand for Diwali light is normally distributed with mean 10,000 units and standard deviation of 1,000 units answer the given subquestions:
What is the optimal order quantity ? (z=0.44)
A written answer, not marked automatically.
Ashoke Equipment company estimates its ordering cost at Rs 200 and carrying cost to be Rs. 4/year/unit. The estimated annual requirement is 10,000 units at a unit price of Rs. 10. Based on the above data, answer the given subquestions
What is the economic order quantity (EOQ)?
A written answer, not marked automatically.
Ashoke Equipment company estimates its ordering cost at Rs 200 and carrying cost to be Rs. 4/year/unit. The estimated annual requirement is 10,000 units at a unit price of Rs. 10. Based on the above data, answer the given subquestions
While rechecked, Ashoke Equipment company finds that the order cost should have been 20% more than the currently estimated value. What should be the percentage increase in the EOQ in this case? Enter your answer without the ‘%’ symbol. (√120=10.95)
A written answer, not marked automatically.
Ramu purchases a Diwali light at Rs.10 to and earns Rs 20 by selling it in the market. Any light not sold by Diwali will be discounted to Rs. 5. If the demand for Diwali light is normally distributed with mean 10,000 units and standard deviation of 1,000 units answer the given subquestions:
A written answer, not marked automatically.
Ashoke Equipment company estimates its ordering cost at Rs 200 and carrying cost to be Rs. 4/year/unit. The estimated annual requirement is 10,000 units at a unit price of Rs. 10. Based on the above data, answer the given subquestions
A written answer, not marked automatically.
