LAISHA
Open Laisha

ICAR AICE-JRF/SRF Business Analytics & Digital Agribusiness: practice questions

ICAR AICE-JRF/SRF (PhD admission and fellowship) · India · National Testing Agency for ICAR

Original practice questions written to the published syllabus · not past papers
10worked here, free
109written to this exam in this subject
9syllabus units

What this subject covers

Using data, GIS, ERP and digital channels in agribusiness: the data-science workflow, basic machine learning and ICT for development.

In the exams: agribusiness management PhD entrance and fellowship examinations (light)

What ICAR AICE-JRF/SRF asks from it

ICAR AICE-JRF/SRF (PhD) Agri-Business Management, research methods and operations research units

Light weight. Multivariate techniques asked conceptually: what discriminant analysis and principal component analysis do, the number of discriminant functions, Wilks' lambda, eigenvalues and the Kaiser criterion, communality, factor analysis versus PCA. Regression basics (R-squared, adjusted R-squared, dummy variables, logistic regression and odds ratios), forecasting methods and error measures, and the role of ICT, ERP and e-markets in agribusiness.

Where the 109 questions fall

How our questions for ICAR AICE-JRF/SRF spread across the units of Business Analytics & Digital Agribusiness. Difficulty: 33 easy, 53 medium, 23 hard.

Supervised learning: regression21
The data-science workflow15
Digital marketing and brand building12
ICT for development12
Basics of deep learning11
Principal component analysis10
Geographic information systems for agribusiness10
Linear discriminant analysis9
Enterprise resource planning9

10 practice questions, worked

Choose an answer, then open the working. Each explanation says why the right answer is right and why the others are not.

1 · The data-science workflow · easy

Which question is answered by prescriptive analytics?

  1. What is the probability that a dealer will delay payment beyond sixty days next season?
  2. Why did sales of layer feed fall in the eastern region during the last quarter?
  3. How many tonnes of feed did each depot sell in each month of last year, by product line?
  4. How much of each feed should the mill make next week to maximise margin within capacity?
Answer and working

D. How much of each feed should the mill make next week to maximise margin within capacity?

Prescriptive analytics recommends a decision by combining predictions with an objective (margin) and constraints (capacity), typically by optimisation. Monthly depot sales are descriptive, a payment-delay probability is predictive, and asking why sales fell is diagnostic.

2 · The data-science workflow · easy

Seed grades recorded as A, B and C, where A is best but the gaps between grades are not equal, are measured on which scale?

  1. Ratio scale
  2. Interval scale
  3. Nominal scale
  4. Ordinal scale
Answer and working

D. Ordinal scale

The grades have a meaningful order but unknown or unequal gaps, which defines an ordinal scale. Nominal data have no order (crop names), interval data have equal gaps without a true zero, and ratio data have a true zero (tonnes).

3 · Enterprise resource planning · easy

What is the defining feature of an enterprise resource planning (ERP) system?

  1. A spreadsheet model used by the finance team to consolidate monthly results by hand
  2. Integrated modules sharing one database, so a transaction updates every function at once
  3. A separate stand-alone application for each department, linked by periodic file uploads
  4. A website through which the firm sells its products directly to its final consumers
Answer and working

B. Integrated modules sharing one database, so a transaction updates every function at once

ERP integrates finance, procurement, inventory, production, sales and HR on a common database, so recording a delivery updates stock, payables and the ledger together. Separate departmental systems are the 'islands of automation' ERP replaced; spreadsheets and e-commerce sites are different tools.

4 · Enterprise resource planning · medium

A grain processor recorded farmer deliveries in a procurement application, stock in a warehouse spreadsheet and payments in an accounting package. What is the main benefit of an integrated ERP system?

  1. It guarantees higher prices for the processor's products in the wholesale and retail markets
  2. It replaces the need for internal or external audit of the firm's accounts
  3. One delivery entry updates stock, payable and ledger, ending re-entry and mismatches
  4. It removes the need to measure grain moisture and grade at the point of delivery by farmers
Answer and working

C. One delivery entry updates stock, payable and ledger, ending re-entry and mismatches

Integration means a single transaction flows to inventory, accounts payable and the general ledger, eliminating duplicate entry and reconciliation. ERP records quality data but does not replace measurement, does not set market prices, and does not replace audit.

5 · Enterprise resource planning · medium

A dairy's food-safety rules require 'one step back, one step forward' traceability. What must its ERP system be able to show?

  1. Which supplier lots went into each finished batch and which customers received that batch
  2. The weather forecast for each collection centre for the next fortnight ahead
  3. The retail price of each product in every shop across the country on any given day of the year
  4. The breed and pedigree of every cow owned by every member who supplies milk to the dairy
Answer and working

A. Which supplier lots went into each finished batch and which customers received that batch

One step back, one step forward means the firm can trace inputs to its immediate suppliers and outputs to its immediate customers, using batch and lot tracking. Retail prices, animal pedigrees and weather are outside this legal traceability requirement.

6 · Digital marketing and brand building · hard

An animal-feed brand earns an annual margin of 1,200 per retained dairy customer. Annual retention is 70% and the discount rate 10%. Using CLV = m × r/(1 + d − r), what is customer lifetime value?

  1. 4,000
  2. 2,100
  3. 3,000
  4. 840
Answer and working

B. 2,100

CLV = 1,200 × 0.70/(1 + 0.10 − 0.70) = 840/0.40 = 2,100. 3,000 drops r from the numerator (1,200/0.40), 840 is only the first-year expected margin, and 4,000 uses 1,200/(1 − 0.70) and ignores discounting.

Further reading: Gupta and Lehmann, Customers as assets

7 · ICT for development · easy

Studies of fish markets in Kerala, India, and grain markets in Niger found that the spread of mobile phones mainly did what?

  1. Raised all prices by the same amount because traders could coordinate collusion
  2. Increased waste because sellers travelled further to distant markets after calls
  3. Reduced price dispersion across markets as traders and sellers could compare prices
  4. Had no measurable effect because farmers could not read text messages on phones
Answer and working

C. Reduced price dispersion across markets as traders and sellers could compare prices

Jensen (Kerala fisheries) and Aker (Niger grain) found that mobile phones lowered search costs and narrowed price differences between markets; Jensen also found less waste. The other options contradict these findings.

Further reading: Jensen (2007); Aker (2010)

8 · ICT for development · medium

What is basis risk in index-based (parametric) crop insurance?

  1. The chance that premiums are raised every year without any change in risk
  2. The chance that the insurer becomes insolvent and cannot pay any claims at all
  3. The chance that the index payout differs from the farmer's actual loss on the farm
  4. The chance that a farmer exaggerates a loss when an assessor visits the field
Answer and working

C. The chance that the index payout differs from the farmer's actual loss on the farm

Index insurance pays on a measured weather or satellite index, so a farmer can suffer loss while the index shows none, or vice versa; that mismatch is basis risk. Insolvency is counterparty risk, exaggerated claims are moral hazard in indemnity insurance (which index insurance avoids), and premium changes are pricing.

9 · ICT for development · easy

Which principle of data protection, common to many national laws, says an organisation should collect only the personal data needed for a stated purpose?

  1. Storage limitation
  2. Accountability
  3. Data minimisation
  4. Data portability
Answer and working

C. Data minimisation

Data minimisation limits collection to what is necessary for the purpose. Portability is the right to move one's data between providers, storage limitation restricts how long data are kept, and accountability makes the controller responsible for showing compliance.

Further reading: Regulation (EU) 2016/679, Article 5

10 · ICT for development · hard

A researcher wants to measure the causal effect of a text-message price service on farm-gate prices. Which design gives the most credible estimate?

  1. Compare prices before and after launch in subscribing villages, with no comparison group
  2. Randomly assign villages to receive the service or not and compare prices received
  3. Survey subscribers about whether they believe the service raised their prices
  4. Compare prices of farmers who chose to subscribe with those who chose not to
Answer and working

B. Randomly assign villages to receive the service or not and compare prices received

Random assignment makes treated and control villages comparable, so a price difference can be attributed to the service. Self-selected subscribers differ systematically (better-connected, more commercial), before–after comparisons confound the service with market trends, and self-reported belief is not a measure of effect.

Ten here, 109 in the app. The Laisha app has every practice question we have written to ICAR AICE-JRF/SRF in this subject, marked as you go, with timed papers, a jump-to-unanswered list and a certificate when you pass at 70 per cent.

Free for ten days, then one subscription of US$10 a month. We would rather say so here than have you find it later.

Practise the full set in Laisha →

Read the subject

Business Analytics & Digital AgribusinessThe full study manual, free ICAR AICE-JRF/SRFFormat, sections and how it has changed

More ICAR AICE-JRF/SRF practice

Marketing ManagementResearch MethodologyProduction & Operations ManagementEconometricsAgri Value Chain ManagementAgribusiness Environment & PolicyDevelopment EconomicsInternational Agri Trade & Export ManagementOperations Research / Quantitative TechniquesStrategic ManagementAgricultural Development & Policy AnalysisPublic FinanceAgri Supply Chain & Logistics ManagementManagement of Agricultural Input MarketingProject Management, Appraisal & Agri-EntrepreneurshipRural MarketingNatural Resource & Environmental EconomicsQuality Management & Food StandardsInstitutional EconomicsBusiness Statistics & Quantitative MethodsManagerial (Applied Agribusiness) EconomicsMicroeconomic Theory & ApplicationsCommodity Markets, Futures & OptionsEconomic Development and Agricultural Economies of the World

Business Analytics & Digital Agribusiness for other exams

UGC-NET · India

Ask Laisha about this

Opens Laisha's chat with your question ready to send. Sign in or start free.