The IIT Madras BS Industry 4.0 (Industry 4.0) Quiz 2 paper sat on 4 Aug 2024, in the May 2024 term, set 1: 14 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
In a EOQ calculation, the estimated and actual parameter values are given in Table 1. What is the error in the EOQ calulation {error= (Qestimated - Qactual)/ Qactual }. (round your answer to two decimal without the percentage sign e,g, enter 10.12 if your answer is 10.12 %, enter -10.12 if your answer is -10.12%)
In a EOQ calculation, the estimated and actual parameter values are given in Table 1. What is the error in the EOQ calulation {error= (Qestimated - Qactual)/ Qactual }. (round your answer to two decimal without the percentage sign e,g, enter 10.12 if your answer is 10.12 %, enter -10.12 if your answer is -10.12%)
A written answer, not marked automatically.
Suppose you need to accept reservation for a flight. There is total 100 seats in the aircraft. You have two classes of passengers - economy and business. One economy seat gets you 2,500 Rs of revenue while a business seat gets 7,500 Rs. From your experience, you know the demand for business travellers follows a uniform distribution in [10,20]. Then answer the given subquestions:
What is the Booking limit?
A written answer, not marked automatically.
Suppose you need to accept reservation for a flight. There is total 100 seats in the aircraft. You have two classes of passengers - economy and business. One economy seat gets you 2,500 Rs of revenue while a business seat gets 7,500 Rs. From your experience, you know the demand for business travellers follows a uniform distribution in [10,20]. Then answer the given subquestions:
What is the protection level?
A written answer, not marked automatically.
Ramu need to visit City-7. Currently he is stationed at City-1. He has a few alternative routes denoted by the arrows (arcs). There are other cities viz. 2, 3, 4, 5, 6 which falls on various routes between City-1 and City-7. The weights on the arcs represents the distances between respective nodes. However, there is no connection between City-2 and City-6. This scenario is represented in Fig-1.
Ramu need to visit City-7. Currently he is stationed at City-1. He has a few alternative routes denoted by the arrows (arcs). There are other cities viz. 2, 3, 4, 5, 6 which falls on various routes between City-1 and City-7. The weights on the arcs represents the distances between respective nodes. However, there is no connection between City-2 and City-6. This scenario is represented in Fig-1. You need to apply dynamic programming (backward recursion) to identify the shortest route. Answer the given subquestions:
What does the state variable represent?
The city Ramu should visit next in a stage
Distance covered upto a given stage
The beginning city in every stages
Correct answer
The beginning city in every stages
Ramu need to visit City-7. Currently he is stationed at City-1. He has a few alternative routes denoted by the arrows (arcs). There are other cities viz. 2, 3, 4, 5, 6 which falls on various routes between City-1 and City-7. The weights on the arcs represents the distances between respective nodes. However, there is no connection between City-2 and City-6. This scenario is represented in Fig-1.
Ramu need to visit City-7. Currently he is stationed at City-1. He has a few alternative routes denoted by the arrows (arcs). There are other cities viz. 2, 3, 4, 5, 6 which falls on various routes between City-1 and City-7. The weights on the arcs represents the distances between respective nodes. However, there is no connection between City-2 and City-6. This scenario is represented in Fig-1. You need to apply dynamic programming (backward recursion) to identify the shortest route. Answer the given subquestions:
What does the action set represents?
The city Ramu should visit next in a stage
The beginning city in every stages
Distance covered upto a given stage
Correct answer
The city Ramu should visit next in a stage
Ramu need to visit City-7. Currently he is stationed at City-1. He has a few alternative routes denoted by the arrows (arcs). There are other cities viz. 2, 3, 4, 5, 6 which falls on various routes between City-1 and City-7. The weights on the arcs represents the distances between respective nodes. However, there is no connection between City-2 and City-6. This scenario is represented in Fig-1.
Ramu need to visit City-7. Currently he is stationed at City-1. He has a few alternative routes denoted by the arrows (arcs). There are other cities viz. 2, 3, 4, 5, 6 which falls on various routes between City-1 and City-7. The weights on the arcs represents the distances between respective nodes. However, there is no connection between City-2 and City-6. This scenario is represented in Fig-1. You need to apply dynamic programming (backward recursion) to identify the shortest route. Answer the given subquestions:
What is the objective function value in Stage-2?
A written answer, not marked automatically.
Ramu need to visit City-7. Currently he is stationed at City-1. He has a few alternative routes denoted by the arrows (arcs). There are other cities viz. 2, 3, 4, 5, 6 which falls on various routes between City-1 and City-7. The weights on the arcs represents the distances between respective nodes. However, there is no connection between City-2 and City-6. This scenario is represented in Fig-1.
Ramu need to visit City-7. Currently he is stationed at City-1. He has a few alternative routes denoted by the arrows (arcs). There are other cities viz. 2, 3, 4, 5, 6 which falls on various routes between City-1 and City-7. The weights on the arcs represents the distances between respective nodes. However, there is no connection between City-2 and City-6. This scenario is represented in Fig-1. You need to apply dynamic programming (backward recursion) to identify the shortest route. Answer the given subquestions:
What is the optimal route?
1 -> 4 -> 6-> 7
1 -> 3 -> 5 -> 7
1 -> 4 -> 5 -> 7
1 -> 3 -> 6-> 7
Correct answer
1 -> 4 -> 5 -> 7
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.4, a.2 : b.1, a.3: b.3
a.1 : b.5, a.2 : b.2, a.3: b.4
a.1 : b.3, a.2 : b.4, a.3: b.5
a.1 : b.2, a.2 : b.1, a.3: b.3
Correct answer
a.1 : b.4, a.2 : b.1, a.3: b.3
Select the irrelevant cost(s) to the inventory management decisions
A company bought a machine that broke and could not be returned
Cost of processing an order of raw materials from the supplier
Cost of the transportation of an order from supplier site to the manufacturingsite.
Carrying cost for holding the items
Correct answer
A company bought a machine that broke and could not be returned
What are the inputs for an order-upto-level calculation?
Sales forecast
Lead time
On-hand inventory
Safety stock
Correct answers
Sales forecast
Lead time
On-hand inventory
Safety stock
Select the assumptions for single period newsvendor model.
Products are separable
Demand is deterministic
Inventory decision or deliveries are made before the demand is realized
Overstocking and Understocking costs are linear to the quantities
Correct answers
Products are separable
Inventory decision or deliveries are made before the demand is realized
Overstocking and Understocking costs are linear to the quantities
Suppose you need to accept reservation for a flight. There is total 100 seats in the aircraft. You have two classes of passengers - economy and business. One economy seat gets you 2,500 Rs of revenue while a business seat gets 7,500 Rs. From your experience, you know the demand for business travellers follows a uniform distribution in [10,20]. Then answer the given subquestions:
A written answer, not marked automatically.
Ramu need to visit City-7. Currently he is stationed at City-1. He has a few alternative routes denoted by the arrows (arcs). There are other cities viz. 2, 3, 4, 5, 6 which falls on various routes between City-1 and City-7. The weights on the arcs represents the distances between respective nodes. However, there is no connection between City-2 and City-6. This scenario is represented in Fig-1.
Ramu need to visit City-7. Currently he is stationed at City-1. He has a few alternative routes denoted by the arrows (arcs). There are other cities viz. 2, 3, 4, 5, 6 which falls on various routes between City-1 and City-7. The weights on the arcs represents the distances between respective nodes. However, there is no connection between City-2 and City-6. This scenario is represented in Fig-1. You need to apply dynamic programming (backward recursion) to identify the shortest route. Answer the given subquestions:
A written answer, not marked automatically.
