NPTEL Project Management Week 3 Assignment Answers

November 25, 2022 by NPTEL Answers

NPTEL Project Management Week 3 Assignment Answers:- In this post, we have provided the answers to the NPTEL Project Management Week 3

NPTEL Project Management Week 3 Assignment Answers 2022

Q1. Which of the accompanying techniques for selecting a strategy is predictable with risk averting behaviour?

On the off chance that two methodologies have the same expected benefit, select the one with the smaller standard deviation.

On the off chance that two methodologies have a similar standard deviation, select the one with the smaller expected benefit.

Select the methodology with the larger coefficient of variation.

All of the above are correct.

Answer:- On the off chance that two methodologies have the same expected benefit, select the one with the smaller standard deviation.

Q2. Which of the following is a schematic model of alternatives available to the decision maker along with possible consequences and alternatives?

Analytic Hierarchy Process

Decision making model

Preference Matrix

None of the above

Answer:- Decision making model

Q3. Development of a decision tree requires the drawing of a series of nodes and branches. Which statement depicts one mistake check conceivable at a possibility node?

No error checks are possible

Probabilities for all branches leaving a chance node must sum to 1.0

The expected payoff must equal zero

Review the data and problem statement three times

Answer:- Probabilities for all branches leaving a chance node must sum to 1.0

Q4. A _________ is a decision support tool that uses a tree-like graph or model of decisions and their possible consequences, including chance event outcomes, resource costs, and utility.

Decision tree

Graphs

Trees

Neural Networks

Answer:- Decision tree

Q5. What decision-making condition must exist in order for the decision tree to be a valuable tool?

Risk

Certainty

Uncertainty

All of the above

Answer:- Risk

Q6. The objective of using decision trees is to

Expand a Data Flow Diagram so that a user can understand it

To specify sequence of conditions to be tested and actions to be taken

Describe a computational procedure that can be easily understood by a person

Use it as a tool in decision support system

Answer:- To specify sequence of conditions to be tested and actions to be taken

Q7. How the decision tree reaches its decision?

Single test

Two test

Sequence of test

No test

Answer:- Sequence of test

Q8. If a person’s utility doubles when their income doubles, then that person is risk

Averse.

Neutral.

Seeking.

There is not enough information given in the question to determine an answer.

Answer:- Neutral.

Q9. Strategy A has an expected value of 10 and a standard deviation of 3. Strategy B has an expected value of 10 and a standard deviation of 5. Strategy C has an expected value of 15 and a standard deviation of 10. Which one of the following statements is true?

A risk averse decision maker will always prefer A to B, but may prefer C to A.

A risk neutral decision maker will always prefer C to A or B.

A risk seeking decision maker will always prefer C to A or B.

All of the above are correct.

Answer:- A risk averse decision maker will always prefer A to B, but may prefer C to A.

Q10. If a decision maker is risk averse, then the best strategy to select is the one that yields the

Highest expected payoff.

Lowest coefficient of variation.

Highest expected utility.

Lowest standard deviation.

Answer:- Highest expected utility.

Important Links:-

NPTEL Answers

Join Our Telegram

NPTEL Project Management Week 3 Assignment Answers 2022

Leave a Comment Cancel reply