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ms4001_2026T1_Q2_NA.pdf

Industry 4.0 · Quiz 2 · Jan 2026

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Questions and published explanations below are available without starting a test. Some questions may not have a published solution yet.

Question 2 MCQ · 1.0 marks

Choose the correct category in Column B for the costs in Column A [[IMAGE:658de68c1d5cac46_2_2]]
Source diagram or notation
  1. (1): (b), (2): (c), (3): (a)
  2. (1) : (c), (2) : (b), (3) : (a)
  3. (1) : (a), (2) : (b), (3) : (c)

A published solution is not available for this question yet.

Question 3 MCQ · 1.0 marks

Pranjal is shopping in a departmental store. He has a list of items which he prepared at home itself. He picked a few packets of tea as part of his list. He could see coffee packets and milk- powder packets in the neighbouring shelves. He picked a few milk-powder packets, however these are not part of his list. He was searching for Good-day biscuits. He could identify only one packet in the shelf remaining. However, there were lot of Sun-fist biscuits lying in the next shelf. So he picked ten Sun-fist packets. Now map the scenarios with the items below: [[IMAGE:658de68c1d5cac46_3_3]]
Source diagram or notation
  1. P1-S1, P2-S3, P3-S4
  2. P1-S2, P2-S1, P3-S3
  3. P1-S2, P2-S1, P3-S4

A published solution is not available for this question yet.

Question 4 MCQ · 1.0 marks

Which of the following examples can be referred as cyclic pattern?
  1. Economic recission
  2. Increases Ceiling Fan sales during winters
  3. Increased tourist footfall towards the end of the year

A published solution is not available for this question yet.

Question 5 MCQ · 1.0 marks

Suppose, you are responsible for material purchase in an organization. You have demand forecast of a product for next four weeks which are 3, 4, 2 and 4 units respectively. You need to purchase one type of raw material to produce the final product to meet the above demand. Consider, one unit of the final product requires one unit of this raw material. Whenever an order is placed, your organization needs to incur a cost of $4 irrespective of the quantity ordered. Purchasing cost of the raw material is $2 per unit. Holding cost of an item not gone for production at the end of a week is $0.5 per week. You can order a maximum of 5 units in a week and the warehouse has capacity to store upto 4 units of inventory in a week. Note that you need to meet the demand in every week. Solve the above problem using dynamic programming ( backward recursion) and answer the given sub-questions for this problem.
What does the state variable represent?
  1. How many units of the raw material needs to be purchased in a week
  2. Ending inventory with the warehouse in each week
  3. Beginning inventory with the warehouse in each week

A published solution is not available for this question yet.

Question 6 MCQ · 1.0 marks

Suppose, you are responsible for material purchase in an organization. You have demand forecast of a product for next four weeks which are 3, 4, 2 and 4 units respectively. You need to purchase one type of raw material to produce the final product to meet the above demand. Consider, one unit of the final product requires one unit of this raw material. Whenever an order is placed, your organization needs to incur a cost of $4 irrespective of the quantity ordered. Purchasing cost of the raw material is $2 per unit. Holding cost of an item not gone for production at the end of a week is $0.5 per week. You can order a maximum of 5 units in a week and the warehouse has capacity to store upto 4 units of inventory in a week. Note that you need to meet the demand in every week. Solve the above problem using dynamic programming ( backward recursion) and answer the given sub-questions for this problem.
What does the action set represent?
  1. How many units of the raw material needs to be purchased in a week
  2. Ending inventory with the warehouse in each week
  3. Beginning inventory with the warehouse in each week

A published solution is not available for this question yet.

Question 7 MSQ · 1.5 marks

Select the cost(s) from the following list which contribute(s) to the shortage cost:
  1. Loss of customer goodwill
  2. Loss due to customer return
  3. Cost of losing a customer
  4. Loss of profit associated with not delivering the product

A published solution is not available for this question yet.

Question 8 MSQ · 1.5 marks

Select the assumptions for single period newsvendor model.
  1. Products are separable
  2. Demand is deterministic
  3. Inventory decision or deliveries are made before the demand is realized
  4. Overstocking and Understocking costs are linear to the quantities

A published solution is not available for this question yet.

Question 9 MCQ · 1.5 marks

Match the following columns by selecting the correct name from Column B for the labels in column A which are depicted in the **‘Figure: EOQ model’** below: [[IMAGE:658de68c1d5cac46_5_4]] [[IMAGE:658de68c1d5cac46_5_5]]
Source diagram or notationSource diagram or notation
  1. A:Cost; B:Quantity; C:Total Cost; D:Carrying cost; E:Order cost; F:EOQ(Q*)
  2. A:Cost; B:Quantity; C:Total cost; D:Order cost; E:Carrying cost; F:EOQ(Q*)
  3. A:Quantity; B:Cost; C:Total Cost; D:Carrying cost; E:Order cost; F:EOQ(Q*)
  4. A:Total cost; B:EOQ(Q*); C:Cost; D:Order cost; E:Carrying cost; F:Quantity

A published solution is not available for this question yet.

Question 10 MCQ · 1.5 marks

Which of the following model corresponds to Exponential Smoothing forecasting model?
  1. [[IMAGE:658de68c1d5cac46_6_6]]
    Source diagram or notation
  2. [[IMAGE:658de68c1d5cac46_6_7]]
    Source diagram or notation

A published solution is not available for this question yet.

Question 11 NAT · 1.0 marks

[[IMAGE:658de68c1d5cac46_6_8]] [[IMAGE:658de68c1d5cac46_6_9]]
Source diagram or notationSource diagram or notation

    A published solution is not available for this question yet.

    Question 12 NAT · 1.0 marks

    Ramu puts up a stall for Diwali Light (Diya) every year. He builds a Diya at a cost of Rs. 1 and earns Rs.2 by selling each Diya. Any Diya not sold by Diwali will be discounted to 50 Paisa. From his experience, Ramu knows that the demand is Uniformly Distributed within [800, 1000] units. Then answer the given subquestions:
    What is the Critical Ratio? (round off your answer to two decimal places)

      A published solution is not available for this question yet.

      Question 13 NAT · 1.0 marks

      Ramu puts up a stall for Diwali Light (Diya) every year. He builds a Diya at a cost of Rs. 1 and earns Rs.2 by selling each Diya. Any Diya not sold by Diwali will be discounted to 50 Paisa. From his experience, Ramu knows that the demand is Uniformly Distributed within [800, 1000] units. Then answer the given subquestions:
      What is the optimal order quantity that minimizes Ramu’s total cost?

        A published solution is not available for this question yet.

        Question 14 MCQ · 1.0 marks

        Ramu puts up a stall for Diwali Light (Diya) every year. He builds a Diya at a cost of Rs. 1 and earns Rs.2 by selling each Diya. Any Diya not sold by Diwali will be discounted to 50 Paisa. From his experience, Ramu knows that the demand is Uniformly Distributed within [800, 1000] units. Then answer the given subquestions:
        If the cost of overstocking is less than the cost of understocking, where will the optimal order quantity lies in the interval [800, 1000] units?
        1. Toward left of the mean of uniform distribution [800,1000]
        2. At the mean of uniform distribution [800,1000]
        3. Towards right of the mean of uniform distribution [800,1000]

        A published solution is not available for this question yet.

        Question 15 NAT · 1.0 marks

        LIMAT Co. requires 1500 units of plastic ribbon per month. Each plastic ribbon costs Rs. 27 in the market. Placing an order costs Rs. 150 to Slipline Co. and the inventory carrying charges work out to 20% of the unit ribbon cost per year. Calculate the given subquestions:
        What should be the order quantity which minimizes the total cost to LIMAT Co.

          A published solution is not available for this question yet.

          Question 16 NAT · 1.0 marks

          LIMAT Co. requires 1500 units of plastic ribbon per month. Each plastic ribbon costs Rs. 27 in the market. Placing an order costs Rs. 150 to Slipline Co. and the inventory carrying charges work out to 20% of the unit ribbon cost per year. Calculate the given subquestions:
          What is the number of orders per year?

            A published solution is not available for this question yet.

            Question 17 NAT · 1.0 marks

            LIMAT Co. requires 1500 units of plastic ribbon per month. Each plastic ribbon costs Rs. 27 in the market. Placing an order costs Rs. 150 to Slipline Co. and the inventory carrying charges work out to 20% of the unit ribbon cost per year. Calculate the given subquestions:
            What is the annual order cost?

              A published solution is not available for this question yet.

              Question 18 NAT · 1.0 marks

              LIMAT Co. requires 1500 units of plastic ribbon per month. Each plastic ribbon costs Rs. 27 in the market. Placing an order costs Rs. 150 to Slipline Co. and the inventory carrying charges work out to 20% of the unit ribbon cost per year. Calculate the given subquestions:
              What is the average inventory in the system?

                A published solution is not available for this question yet.

                Question 19 NAT · 1.0 marks

                LIMAT Co. requires 1500 units of plastic ribbon per month. Each plastic ribbon costs Rs. 27 in the market. Placing an order costs Rs. 150 to Slipline Co. and the inventory carrying charges work out to 20% of the unit ribbon cost per year. Calculate the given subquestions:
                What is the annual inventory carrying cost?

                  A published solution is not available for this question yet.