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of sizes.

20, 50, 72, 28, 53, 74, 34, 54, 75, 39, 59, 78, 42, 64, 79

family in 735 families. Calculate the average number of

children born per family.

Number of Number of Number of Number of

Children born families children born families

per family per family

0 96 7 20

1 108 8 11

2 154 9 6

3 126 10 5

4 95 11 5

5 62 12 1

6 45 13 1

during a given week. Find the average size by the short cut

method.

Size of Shoes No. of pairs Size of Shoes No. of pairs

4.5 1 8 95

5 2 8.5 82

5.5 4 9 75

6 5 9.5 44

6.5 15 10 25

7 30 10.5 15

7.5 60 11 4

the mean height of the group.

cms) (x) 3

No. of persons 1 2 9 48 131 102 40 17

(f)

Method.

Weekly wages 11-13 13-15 15-17 17-19 19-21 21-23 23-25

(Rs.)

No. of labourers 3 4 5 6 5 4 3

6. The following table gives the marks obtained by a set of

students in a certain examination. Calculate the average

marks per student.

Marks No. of Marks No. of

students students

10-20 1 60-70 12

20-30 2 70-80 16

30-40 3 80-90 10

40-50 5 90-100 4

50-60 7

7. Find arithmetic mean for the following data.

Class 50-59 40-49 30-39 20-29 10-9 0-9

interval

Frequenc 1 3 8 10 15 3

y

8. Given below is the distribution of 140 students obtaining

marks or higher in a certain examination (all marks are given

in whole numbers):

X 10 20 30 40 50 60 70 80 90 100

C.F 140 133 118 100 75 45 25 9 2 0

Calculate the arithmetic mean marks obtained by the candidates.

9. The following table gives the life time in hours of 400 radio

tubes of a certain make. Fine the mean lifetime of the radio

tubes.

Life time (in Number of Life time (in Number of

hours) tubes hours) tubes

Less than 300 0 Less than 800 265

Less than 400 20 Less than 900 324

Less than 500 60 Less than 374

1000

Less than 600 116 Less than 392

1100

Less than 700 194 Less than 400

1200

10. A market with 168 operating firms has the following

distribution of average number of workers in various income

groups.

Income 150-300 300-500 500-800 800- 1200-1800

groups 1200

No. of 40 32 26 28 42

firms

Average 8 12 7.5 8.5 4

No. of

workers

Find the average salary paid in the whole market.

5,7,9,12,10,8,7,15,21

12. Find the value of the median from the following data.

10, 18, 9, 17, 15, 24, 30, 11

13. Find the value of the median, Q1, Q3 from the following data.

Daily wages (Rs.) 10 5 7 11 8

Number of workers 15 20 15 18 12

Class intervals Frequencies Class intervals Frequencies

(Rs.)

1-3 6 11-13 16

3-5 53 13-15 4

5-7 85 15-17 4

7-9 56 TOTAL 245

9-11 21

Value Frequency Value Frequency

0-4 328 30-39 598

5-9 350 40-49 524

10-19 720 50-59 378

20-29 664 60-69 244

Age Number of Age Number of

persons persons

55-60 7 35-40 30

50-55 13 30-35 33

45-50 15 25-30 28

40-45 20 20-25 14

Total 160

Value Frequency Value Frequency

Less than 10 4 Less than 50 96

Less than 20 16 Less than 60 112

Less than 30 40 Less than 70 120

Less than 40 76 Less than 80 125

18. Calculate median, Q1, Q3 from the following data.

Size Frequency Size Frequency

More than 50 0 More than 20 123

More than 40 40 More than 10 165

More than 30 98

19. Compute median, Q1, Q3 from the following data.

Mid values 11 125 135 145 155 165 175 185 195

5

Frequency 6 25 48 72 116 60 38 22 3

20. Find the mode of the following data relating to the weight of

10 students.

120, 130, 135, 130, 140, 130, 132, 132, 135, 141

Class intervals Frequency Class intervals Frequency

10-20 4 60-70 22

20-30 6 70-80 24

30-40 5 80-90 6

40-50 10 90-100 2

50-60 20 100-110 1

Size of the Frequency Size of the Frequency

items items

100-110 4 140-150 33

110-120 6 150-160 17

120-130 20 160-170 8

130-140 32 170-180 2

23. Given Mean = 20; Mode = 15; Find the value of median

24. Given Mode = 25; Median = 20; Find the value of mean.

25. Calculate simple Geometric mean from the following data

133, 141, 125, 173, 182

villagers to buy their weekly requirements.

Miles 2 4 6 8 10 12 14 16 18 20

travele

d

No. of 38 104 140 78 48 42 28 24 16 2

villager

s

Calculate the arithmetic average.

BUSINESS STATISTICS

MODULE I – MEASURES OF CENTRAL TENDENCY AND

MEASURES OF DISPERSION

1. The profits of the company for the last 8 years are given

below. Calcultate the Range and its co-efficient.

6

Profits (in 40 30 80 100 120 90 200 230

‘000 Rs.)

wages 110 120

(Rs.)

No. of 50 45 45 40 35 30 30

labourers

following data.

Weight (in 120 122 124 126 130 140 150 160

pounds)

Frequency 1 3 5 7 10 3 1 1

Cumulativ 1 4 9 16 26 29 30 31

e

Frequency

the following data.

Marks 0-10 10-20 20-30 30- 40-50 50-60 60- 70-80 80-90

40 70

No. of 11 18 25 28 30 33 22 15 22

Student

s

20-29 306 50-59 96

30-39 182 60-69 42

40-49 144 70-79 34

6. Estimate an appropriate measure of dispersion for the

following data:

Less than 50 54 110-130 230

50-70 100 130-150 125

70- 90 140 Above 150 51

90-110 300 Total 1000

in a certain test.

S.No Marks (out of 100) S.No Marks (out of 100)

. .

1 68 6 38

2 49 7 59

3 32 8 66

4 21 9 41

5 54

following values. Also calculate its co-efficient.

4800, 4600, 4400, 4200, 4000

No. of Persons having No. of Persons having

accidents said number of accidents said number of

accidents accidents

0 15 7 2

1 16 8 1

2 21 9 2

3 10 10 2

4 17 11 0

5 8 12 2

6 4 Total 100

Marks 0-10 10-20 20-30 30-40 40-50 50-60 60-70

No. of 6 5 8 15 7 6 3

student

s

160, 160, 161, 162, 163, 163, 163, 164, 164,

170

12. The mean of 200 items is 48 and then Standard deviation is 3.

Find (i) the sum of all the items; (ii) the sum of squares of all the

items.

available.

Group I Total of (X-5) = 3; Total of squares of (X-5) = 43; N1 =

18

Group II Total of (X-8) = - 11; Total of squares of (X-8) = 76; N2 =

17

items items

6 3 10 8

7 6 11 5

8 9 12 4

9 13

distribution.

Values 10 20 30 40 50 60 70

Frequenc 1 5 12 22 17 9 4

y

Government employees. Calculate the arithmetic mean and

standard deviation.

Age 50-55 45-50 40-45 35-40 30-35 25-30 20-25

No. of 25 30 40 45 80 110 170

employee

s

the workers taken together.

Section No. of workers Mean wages Standard

Deviation

A 50 113 6

B 60 120 7

C 90 115 8

the two series.

Series A Series B

Mean 50 40

Standard Deviation 5 6

No. of items 100 150

two firms A and B, belonging to the same industry, gives the

following results :

Particulars Firm A Firm B

Number of wage earners 586 648

Average monthly wages 52.5 47.5

(Rs.)

Standard Deviation of the Square root of Square root of 121

distribution of wages (Rs.) 100

20. The mean and standard deviation of the 20 items was found to

be 10 and 2 respectively. Later, it was found the item 12 was

misread as 8. Calculate correct mean and standard deviation.

21. The arithmetic mean and standard deviation of a series of 20

items were calculated by a student as 20 cms and 5 cms

respectively. But, while calculating them, an item 13 was

misread as 30. Find the correct arithmetic mean and standard

deviation.

intervals of Rs. 10-12, 12-14, 14-16 etc., revealed the mean

wage to Rs. 32.02 and its standard deviation a Rs. 13.18.

Later, it was found that the wage of a labourer who was

getting Rs. 57 was misread as Rs. 27. Calculate the correct

mean and standard deviation.

Value 10 20 30 40 50 60 70

Frequenc 1 5 12 22 17 9 4

y

its production line and has obtained the data shown in the

table below.

Class interval Frequency Class interval Frequency

130-134 3 150-154 19

135-139 12 155-159 12

140-144 21 160-164 5

145-149 28

Total 100

Median from the following distribution.

Class 0-10 10-20 20-30 30-40 40-50 50-60 60-70 70-80

interval

Frequenc 6 12 22 48 56 32 18 6

y

4. Calculate Karl Pearson’s Measure of Skewness on the basis of

Mean, Mode and Standard Deviation.

X 14.5 15.5 16.5 17.5 18.5 19.5 20.5 21.5

F 35 40 48 100 125 87 43 22

5. Calculate the Karl Pearson’s co-efficient of skewness from the

following data.

Marks 0 10 20 30 40 50 60 70 80

(above

)

No. of 150 140 100 80 80 70 30 14 0

student

s

6. Consider the following distributions:

Particulars Distribution A Distribution B

Mean 100 90

Median 90 80

Standard Deviation 10 10

(i) The Distribution A has the same degree of the variation as

the distribution B.

(ii) Both the distributi8ons have the same degree of Skewness –

State whether it is True / False.

variation.

Pearson’s measure of skewness = 0.42

Arithmetic mean = 86

Median = 80

efficient of Skewness = +0.40; Find the Median and Mode.

Wages (Rs.) 30-40 40-50 50-60 60-70 70-80 80-90 90-100

No. of 1 3 11 21 43 32 9

persons

following data.

Class 10-19 20- 30-39 40-49 50-59 60-69 70-79 80-89

intervals 29

Frequency 5 9 14 20 25 15 8 4

the lower and upper quartiles 44.1 and 56.6 respectively. Find

the median.

based on quartiles is 0.6. If the sum of the upper and lower

quartiles is 100 and median is 38, find the value of upper

quartile.

13. From the data given below, calculate Karl Pearson’s, Bowley’s

co-efficients of skewness. Mean = 150; Median = 142; Q1 =

62; Q3 = 195; Standard Deviation = 30.

KARL PEARSON’S CORRELATION CO-

EFFICIENT

1. Find Out the correlation co-efficient between the sales and

expenses of the following 10 firms.

Firms 1 2 3 4 5 6 7 8 9 10

Sales 50 50 55 60 65 65 65 60 60 50

Expense 11 13 14 16 16 15 15 14 13 13

s

the following data.

X 65 66 67 67 668 69 70 72

Y 67 68 65 68 72 72 69 71

between the values of X and Y from the data given below.

Values of 15 16 17 18 19 20

X

Values of 80 75 60 40 30 20

Y

efficient of correlation by Karl Pearson method between the

density of population and death rate.

Cities Area in Sq. Population in ‘000 Number of deaths

miles

A 150 30 300

B 180 90 1440

C 100 40 56

D 60 42 840

E 120 72 1224

F 80 24 312

corresponding values of x and y in the following table.

Values of X 2 4 5 6 8 11

Values of Y 18 12 10 8 7 5

6. Calculate the co-efficient of correlation between the variables

X and Y.

X 0.1 0.2 0.3 0.4 0.5 0.6 0.7

Y 30,000 50,000 60,000 80,000 1,00,00 1,10,00 1,30,00

0 0 0

X 2 4 6 8

Y 5 9 13 17

efficient by Karl Pearson’s method.

Serie Assumed Total deviations Sum of squares of

s Mean from assumed mean deviations from

assumed mean

X 41 - 170 8180

Y 32 - 20 2290

Sum of products of deviations of X and Y from their respective

assumed mean = 2880. Number of pairs of observations = 10.

N = 10; Sum of X = 100; Sum of Y = 150; Sum of squares of (X

– 10); Sum of squres of (Y – 15) = 215; Sum of product of (X – 10)

(Y – 15) = 60.

between X and Y from the following information.

N = 12; Sum of X = 120; Sum of Y = 130; Sum of squares of (X

– 8) = 150; Sum of Squares of (Y – 10) = 200; Sum of product of

(X – 8) (Y – 10) = 50.

based upon the number of observations (i) 10 and (ii) 100. The

co-efficient of correlation + 0.4 and + 0.9.

the method of Karl pearson.

X 1 2 3 4 5

Y 166 184 142 180 338

pairs of students in Projects A and Project B.

(1,10) (2,7) (3,2) (4,6) (5,4) (6,8) (7,3) (8,1) (9,11) (10,15)

(11,9) (12, 5) (13,14) (14,12) (15,13). Use Spearman’s formula

to find the rank correlation co-efficient.

Their marks are given below.

Student No. 1 2 3 4 5 6 7 8 9 10

Marks in 78 40 50 55 52 49 60 54 59 58

English

Marks in 70 60 60 75 69 55 70 65 65 60

Mathematic

s

Determine Spearman’s rank correlation co-efficient.

judges in the following orders. Use the Spearman’s rank

correlation method.

First 1 6 5 10 3 2 4 9 7 8

Judge

Secon 3 5 8 4 7 10 2 1 6 9

d

Judge

Third 6 4 9 8 1 2 3 10 5 7

Judge

following data.

X 60 34 40 50 45 41 22 43 42 66 64 46

Y 75 32 34 40 45 33 12 30 36 72 41 57

data by Spearman’s Rank Difference method.

Prices of Tea (Rs) 75 88 95 70 60 80 81 50

Prices of Coffee 120 134 150 115 110 140 142 100

(Rs.)

debenture prices and share prices of a company was + 0.8. If

the sum of the squares of the difference in ranks was 33, find

the value of n.

10 students in Statistics and Accountancy was found to be 0.2.

It was later discovered that the difference in the ranks in the

two subjects obtained by one of the students was wrongly

taken as 9 instead of 7. Find the correct value of co-efficient

of rank correlation.

following data.

X 48 33 40 9 16 16 65 24 46 57

Y 13 13 24 6 15 4 20 9 6 19

below.

No. of workers 300 350 400 450 500 550

No. of bales 30 32 33 35 40 50

consumed

21. If there is a lag of one year between price and supply (so

that the supply increases after one year of price change),

calculate the co-efficient of correlation between the price and

supply from the following data.

1973 78 115

1974 89 125

1975 97 137

1976 69 156

1977 59 112

1978 79 107

1979 68 136

1980 61 123

1981 60 108

using the method of Least Squares.

X 2 4 6 8 10

Y 5 7 9 8 11

equations using the method of Least Squares.

X 10 15 35 40 50

Y 100 90 110 80 120

using the method of Least Squares.

Purchasa 71 75 69 97 70 91 39 61 80 47

es

DECISION TREE / DECISION THEORY

1. A company has to choose one of the three types of Biscuits,

Cream, Coconut and Glucose. Sales expected during the next

year are highly uncertain. Marketing Department estimates

the profits considering manufacturing cost, promotional

efforts and distribution set up etc., as given in the table

below.

Biscuits quantities

5,000 10,000 20,000

Cream (C) 15 25 45

Coconut (Co) 20 55 65

Glucose (G) 25 40 70

activities and planning to open a marketing office at Kanpur to

boost up the sales in North- East UP. It is to be decided

whether to operate from the existing office at Delhi and cover

the area by frequent traveling or else establishing the office at

Kanpur. The connected pay-offs and probabilities are as

under:

y lakhs)

A. Operate from (i) increase in 0.60 50

Delhi demand by 30%

(ii) no appreciable 0.40 5

change

B. Open office at (i) increase in 0.70 40

Kanpur demand by 30%

(ii) no appreciable 0.30 - 10

change

3. Under an employment promotion programme, it is proposed to

allow sales of newspapers on the buses during off-peak hours.

The vendor can purchase the newspaper at a special

discounted rate of 25 paise per copy against the selling price

of 40 paise. Anny unsold copies are, however a dead loss. A

vendor has estimated the following probability distribution for

the number of copies demanded.

Probability 0.0 0.19 0.33 0.2 0.11 0.07

4 6

How many copies should he order so that his expected profir will

be maximum ?

beyond his present on existing production capacity. In order

to decide hether to increase the production capacity, he would

need a reliable information about increase in demand of the

product, based on which only, he can commit his resources.

He has two choices open to him, firstly, the expansion of the

existing capacity with a cost of Rs. 8 lakhs. Or the

modernization of the plant at a cost of Rs. 5 laksh. The time

required for implementation of both the options is expected to

be the same. While considering the demand pattern, he

estimates the high demand situation at a probability of 0.35 as

compared to the modern rise in demand at 0.65 probability.

He also estimates that he would be spending an additional

amount of Rs. 12 lakhs for expansion against Rs. 6 lakhs for

modernization, if the demand rise is high, whereas in the case

of moderate demand increase, the expenditure involved would

be Rs. 7 lakhs for the expansioin or Rs. 5 laksh for

modernization process.

combibinations.

(b) Establish expansion or modernization so as to maximize

its expected monetary value

(c) Work out EPPI, EVPI and EOL.

technology and hence, fast change in production line. At this

point of time, the research and development wing of the

organization has suggested an improved new product with

easy acceptance. It will cost the manufacturer Rs. 60,000 for

the pilot testing and development testing before establishing

the product in the market. The organization has 100

customers and each customer, might purchase, at the most,

one unit of the product, due to cost and newness. The selling

price suggested is Rs. 6,000 for each unit. The probability

distribution for proportion of customers buying the product is

estimated as follows.

Probability 0.1 0.1 0.2 0.4 0.2

whether the manufacturer should develop the product or not.

6. A food product company is contemplating the introduction of a

revolutionary new product with new packaging to replace the

existing product at the same price (S1) or a moderate change

in the composition of the existing product with a new

packaging at a small increase in price (S2) or a small change in

the composition of the existing except the “New” with a

negligible increases in price (S3). The three possible states of

nature of events are (i) high increases in sales (N1), (ii) no

change in sales (N2) and (iii) decreases in sales (N3). The

marketing department of the company worked out the pay-offs

in terms of yearly net profits for each course of action for

these events (expected sales). This is represented in the

following table.

Nature S1 S2 S3

N1 7,00,000 5,00,000 3,00,000

N2 3,00,000 4,50,000 3,00,000

N3 1,50,000 0 3,00,000

criterion (b) Maximax criterion (c) Minimax Regret criterion (d)

Laplace criterion.

one option at a time. He can invest either in a departmental

store, a cold storage or in a car maintenance shop. If he

invests in a departmental stores and succeeds, he can invest

in the car maintenance shop. If he invests in the cold storage

and succeeds, he can invest in the departmental stores. If he

invests in the car maintenance shop, and succeeds, he can

invest in the cold storage and if he succeeds, he can invest in

the departmental store. Based on the data given below, draw

a decision tree and advice the investor on the best decision to

take.

Particulars Probability of Investment Loss on failure

success

Departmental 0.65 8,00,000 45,000

stores

Cold storage 0.60 7,50,000 40,000

Car 0.70 7,40,000 3,50,000

maintenance

shop

8. A business man has two options to sell his products. He can

set up a show room in the city or can sell from his factory

outlet. Setting up a show room will cost Rs. 3,00,000 with 60%

probability of success. If the showroom succeeds, he can earn

gross profits of Rs. 8,00,000 per year. If it fails, he can close

the show room or rent it out for an annual rent of Rs. 2,40,000

( for the rest of the year). The probability of getting rent is

80%. If he sells from the factory outlets, he has to incur Rs.

50,000 as renovating charges. The chances of successful

selling here is 40%, with a net profit of Rs. 4,00,000 per year.

(a) What would you advise the business man to do ?

(b) Advise the business man on how a decision tree helps

him to make decisions.

Bangalore. He can set up a show room will entail costs of Rs.

6,00,000 with a 55% probability of success. If the showroom

succeeds, he can gain a net profit of Rs. 10,00,000 per year. If

it fails, he can either shutdown the show room or rent it out

for an annual rent of Rs. 3,60,000 (for the rest of the year).

The probability that he gets rent for the show room is 40%. If

he sells through a wholesaler, he incurs Rs. 3,00,000 initial

costs. The chances of selling successfully are 45% with a net

profit of Rs. 5,50,000 per year.

(a) Advise the business man on the best decisions.

(b) How is the decision tree analysis useful in business

decision ?

BUSINESS STATISTICS

THEORY QUESTIONS (UNIVERSITY

QUESTIONS)

SECTION A

MODULE I

1. Define Statistics.

2. Define Matrix

3. What is a function ?

4. What do you mean by Quadratic function ?

5. Give one example for each of the following :

(a) Linear function (b) Geometric progression

6. What is meant by regret criterion ?

7. What is differentiatioin ?

8. Define Marginal Revenue. Express this concept as a

derivative.

9. What is maxima and minima ?

10. Define marginal cost. Express this concept as a

derivative.

11. Define Arithmetic Progression.

12. Find the sum of the first 20 terms of an Arithmetic

Progression, 2,5,8,……….. ?

13. What is Integration ?

14. What is ratio ?

15. What is Proportion ?

16. Find the sum of the first ten terms of an Arithmetic

Progressiion, 1,3,5,7…………..

17. Find the three numbers in Arithmetic Progression whose

sum is 21 and product is 280 ?

18. the fourth term of a GP is ½ and the seventh term is

4/27. Find the 12th term.

19. Find the sum of the first 8 terms of a Geometric

Progression, 4,8,16……….

20. Show that 1 + 3 + 5 + ……….. to n terms = n^2.

21. Find the sum of the series 3 + 7 + 11 ……. To 40 terms.

22. The third term of a Geometric Progression is 3/4 , and

the seventh term is 4/27. Find the fourth term.

23. How many terms of Geometric Progression, 4,2,1

amount to 127/16 ?

24. The first term and the last term of a Geometric

Progression are 4 and 324. The sum of the series is 384.

Find C.R.

25. A firm produces a single product and it can market as

many units as it is able to produce at a price of Rs. 1.75.

Its plant and equipment can produce as many units as

5000 units a day. The total fixed cost is Rs. 2000 daily.

Unit variable cost is Rs. 0.50. How many units per day

must be produced in order that the firm breaks even ?

MODULE II

decision making ?

2. Define Business Statistics.

3. What do you mean by Primary and Secondary Data ?

4. What purpose does a measure of central tendency serve ?

5. What are averages ? How are they useful ?

6. What are the desirable properties of an average ?

7. Define Geometric mean and Harmonic zmean.

8. Define a data array. Obtain the median of the data set:

3,0,-7,6, -10.

9. Define Arithmetic mean and median for the raw data.

10. Give any 4 merits of the Arithmetic mean.

11. What do you understand by Dispersion ? Define

Dispersion and give the properties of a good measure of

Dispersion.

12. What is co-efficient of variation ? How is this

measure useful ?

13. What are Ogives ?

MODULE III

1. What is Probability ?

2. What is Poisson Distribution ?

3. What is Binomial Distribution ?

4. What is Normal Distribution ?

5. What is standard normal variate ?

MODULE IV

2. Briefly explain decision trees.

3. What is Expected Pay-off in decision tree ?

4. What is Risk and Certainty & uncertainty ?

5. What is Administrative Decision ?

6. What is Certainty Equivalent ?

7. What is conditional pay-off ?

8. What is Decision Table ?

9. What is Decision tree ?

10. What is Expected Monetary Value ?

11. What is Expected Opportunity Loss ?

12. What is Expected Value Perfect Information /

13. What is Laplace criterion ?

14. What is Maximax criterion ?

15. What is Minimax criterion ?

16. What is Maximin criterion ?

17. What is operating decision ?

18. What is Risk Premium ?

MODULE V

1. What is sampling ?

2. Define Stratified Random Sampling. Illustrate.

3. Explain and illustrate Systematic Sampling.

4. What is meant by Cluster sampling ?

5. What is the significance of testing hypothesis ?

6. What is meant by Type I & Type II error ?

7. What are the three basic assumptions considered in the

analysis of variance ?

8. What is the sum of the square ? What is the mean square

?

9. What is Chi-square test and for what it is used ?

10. What is Quota Sampling ?

MODULE VI

2. What is co-efficient of Determination ? How will you interpret

its value ?

3. What do you mean by lag in correlation ?

4. Explain Regression and its uses.

5. What do you mean by regression analysis ? Give its uses.

6. What is Multiple Regression ?

7. Explain the difference between correlation and regression

analysis. Correlation and Regression analyses are constructed

under different assumptions. They furnish different types of

information.

8. What are the components of Time series ?

9. List the different methods that can be used for determining

trend.

THEORY QUESTIONS (UNIVERSITY

QUESTIONS)

SECTION B & C

MODULE I

case (i) the expression for the sum of first n terms and (ii) a

business application.

2. Define the concept of the derivative of a function. Give the

business applications of this concept.

3. Define Marginal Cost, Average Cost and Total Cost. What is

the relationship between the three ?

MODULE II

value without knowing their meaning and limitations” -

Elucidate this statement.

2. What are the various types of measurement of averages ?

Write the relationship between them.

3. Write short notes on Skewness and Kurtosis.

4. What are the properties of a good measure of dispersion ?

MODULE III

2. Describe the features of the following probability models (i)

Poisson model (ii) Normal model

3. How is a normal curve ?

4. Describe a binomial distribution. Illustrate the applications of

this distribution in Business Management.

5. Briefly explain the use of the Baye’s formula

6. Explain and illustrate : (i) Relative frequency approach and

(ii) Subjective approach for evaluating probabilities.

7. Write the features of the Exponential Distribution.

MODULE IV

2. Graphs and Diagrams have an advantage over written reports.

Comment briefly.

3. What is hypothesis ? Explain the different types of

hypothesis.

4. Explain how to set up and test a hypothesis.

5. Explain and point out the difference between one tailed and

two tailed tests.

6. What is (i) Chi-square test (ii) Sign test (iii) Median test ?

MODULE V

Theory ?

MODULE VI

Paasches method differ ?

2. Explain the method of construction used and interpretation of

the Fisher’s Ideal price Index number. Why his Index number

method is considered as the best method ?

3. What is correlation ? Distinguish between positive and

negative correlation. What is the significance of the co-

efficient of correlation ? How IS correlation ueful in dealing

with business problems ?

4. Explain the method of construction used and interpretation of

the Pearsonian correlation co-efficient.

5. “The value of the co-efficient of correlation lies beween + 1 to

– 1. Elaborate. Give the example for the following diagram.

6. List the methods of determining correlation between two

variables.

7. What is business forecasting ? Mention its methods.

Distinguish between variance and its co-efficient of variance.

8. Distinguish between cyclical variation and seasonal variation.

9. Write the differences between correlation and regression.

BUSINESS STATISTICS

PROBABILITY & SAMPLING DISTRIBUTION

SECTION B & C

1. A print shop has three presses; P1, P2 and P3, each press is

shut down 10% of the time. The probability of any press being

shut down is not influenced by the operating conditions of the

other two. Determine the probability that (a) all the three

presses are shut down; (b) atleast one press is shut down;

(c) P1 and P2, both are shut down.

mail. The first clerk processes 40%, second 35% and the third

25% of the mail. The first clerk has an error rate of 0.04, the

second ha 0.06 and the third has 0.03. A mail selected at

random from a day’s output is found to have an error. The

Post Master wishes to know the probability that the mail was

processed by the first, second or third clerk respectively.

the life produced the following results : Arithmetic mean =

12 hours, Standard Deviation = 3 hours. Assuming that the

data are normally distributed, what percentage of battery cells

are expected to have life (i) more than 15 hours; (ii) less

than 6 hours; (iii) between 10 and 14 hours ?

Z 2.5 2.0 1.0 0.67

Area 0.4938 0.4772 0.3413 0.2487

average score was 42 and standard deviation was 24. Find (a)

the number of students whose score exceeded 50 (b) the

number of students who got between 30 and 40 (c) the

number of students who got score above 60.

Brand P indicates that when men go shopping, they are likely

to buy brand P 3 out of 4 times. When women of shopping,

they are likely to buy brand P 2 out of 3 times. Find the

probability of Brand P being bought when men and women

shop together.

6. 1000 light bulbs with a mean life of 120 days are installed in a

firm. Their length of life is normally distributed with a

standard deviation of 20 days. How many bulbs will expire in

less than 90 days ?

(Rupees in lakhs). The standard deviation of sales is 18

(Rupees in lakhs). Find the number of branches whose sales

exceed 50 (Rupees in lakhs) assuming normal distribution.

firms. For the first post, there are 5 candidates, for the

second post, there are 10 candidates and for the third post,

there are 9 candidates. What are his chances of getting

atleast one post ?

process turn out to be defective. Find the probability that in a

sample of 10 tools chosen at random, exactly two will be

defective by using (a) Binomial Distribution (b) Poisson

Distribution

factory is recorded for 180 shifts and the following data are

obtained :

No. of 0 1 2 3 4 5 6

malfunction

s

No. of 82 42 31 12 8 3 2

shifts

can build 100, 200 or 300 bed hospital, depending upon

whether anticipated demand is low, medium or high. The

expected net profits and the prior distribution regarding the

states of nature is given below.

State of Nature Action A1 Action A2 (Action A3

(Build 100 bed (Build 200 bed (Build 300 bed

hospital) hospital) hospital)

Low Demand 20,000 - 10,000 - 30,000

Medium 25,000 30,000 - 5,000

Demand

High Demand 30,000 50,000 60,000

for manufacturing. A market research was conducted and the

probabilities and the profits at different levels of market

acceptability are as follows:

Acts State of Nature

Good Fair Bad

Products “A” 0.75 0.15 0.10

Products “B” 0.60 0.30 0.10

Calculate the Expected Value of the choice of alternatives and

advise the company.

BUSINESS STATISTICS

SAMPLING DISTRIBUTION

SECTION B & C

population consisting of 101 units. If the population standard

deviation = 12.6, find the standard error of sample mean when

the sample is drawn (a) with the replacement (b) without

replacement.

produced by a company is computed to be 1570 hours, with a

standard deviation of 120 hours. The company claims that the

average life of the tubes produced by a company is 1600

hours. Using a level of significance at 5 % level, is the claim

acceptable /

of 171.39 cms. Can it be reasonably regarded as a sample

from a large population of men managers of mean height

171.17 cms and standard deviation of 3.30 cms ? Justify your

answer statistically.

provided the following summarized information:

Gender Mean Score Standard Deviation Numbers

Girls 75 10 50

Boys 70 12 100

Is the difference in the mean scores of boys and girls statistically

significant ? Show clearly the steps leading to your conclusion.

individuals leads to 2217 as an estimate of mean. Compute

the standard error of the mean and also construct an interval

that would include the population mean 95% of the time.

What will be the width of this interval if the sample size were

to be only 16.

groups having 200, 500 and 300 units respectively. Allocate a

sample of size 100 units proportionately to the strata. What

are the chief advantages of stratifying a population before

drawing samples ?

7. The standard deviation of the wages of 400 textile workers is

Rs. 12.8. Another sample of 600 textile workers gives the

standard deviation at Rs. 15.7. Find out if the standard

deviation of the first sample significantly differs from the

combined deviation of the two samples which is 14.

sample of 500 pairs, 2% were found to be sub-standard

quality. Estimate the number of pairs that can be reasonably

expected to be spoiled in the daily production and assign the

limits at 95% level of confidence.

students. The IQ tests of 40 females had a mean of 131 and

Standard deviation of 15. A sample of 36 males had a mean of

122 and Standard Deviation of 15. Do the data support

psychologist’s claim ? Use the 5% level of significance.

BUSINESS STATISTICS

CHI SQUARE TEST

results were categorized as follows depending upon whether

they have received special training:

Special Training Result

Pass Fail

Yes 36 12

No 30 22

Test whether the special training was useful to the

candidates. Clearly state the steps in your analysis. (You may

use the information that the relevant table value at 5% level is

3.84).

2. A Manufacturing Limited launched a new car and then interviewed 500 people. Find out

whether people consider the new model of the car as superior in style compared to the old

model of car, using Chi-square test.

Superior Not Superior Total

New Model 280 60 340

Old Model 120 40 160

Total 400 100 500

caused by technically skilled and unskilled personnel.

Personnel Accidents No accidents Total

Skilled 10 90 100

Unskilled 15 65 80

Total 25 155 180

that families with higher income bought the sedan type of car

and families with lower income bought the small car. Given

the following results, use the chi-square test to find out if the

belief is true.

Income Sedan type of Small car Total

car

High 594 606 1200

Low 262 538 800

Total 856 1144 2000

related conflicts caused by trained and untrained personnel.

Personnel Conflicts No conflicts Total

Trained 20 180 200

Untrained 30 130 160

Total 50 310 360

by income level and preference for ice creams of Type A or

Type B. Test whether the two attributes are associated. Draw

suitable conclusion at 5% level. (Use table value of 9.4877).

Income Preference Total

level A Indifference B

Low 170 30 80 280

Medium 50 25 60 135

High 20 10 55 85

Total 240 65 195 500

numbers chosen at random from a telephone directory.

Digit 0 1 2 3 4 5 6 7 8 9

Frequenc 102 110 997 966 107 933 110 972 964 853

y 6 7 5 7

Test at 5% level whether the digits may be taken to occur equally

frequently in the directory. (The table value for chi-square test

for 9 degrees of freedom at 5% level of significance = 16.919).

equally. In a sample survey, out of 360 men voters, 120

favoured the party, while 170 out of 490 women preferred it.

Do the survey results support the claim ? Clearly display the

main steps in your anlysis.

Men Women Total

Support 120 170 290

Do not Support 240 320 560

Total 360 490 850

BUSINESS STATISTICS

ANALYSIS OF VARIANCE TEST – F TEST

(ONE WAY CLASSIFICATION AND TWO WAY

CLASSIFICATION TESTS)

produced by 3 different workers using 3 different machines.

Workers MACHINES

X Y Z

A 8 32 20

B 28 36 38

C 6 28 14

4 cities. The following table gives the sales.

City Sales in thousands per month

A 24 26 29 25

B 22 21 25 14

C 21 19 23 20

D 26 28 31 28

Use Analysis of Variance to test the significance of difference

between the sales of soap in the four cities.

sales points in 4 metros. The following table gives the sales.

Metro cities Sales in thousands per month

P 14 16 17 16

Q 12 11 13 9

R 11 9 11 11

S 16 18 20 15

Using ANOVA, test the significance of difference between the

sales of the tooth paste in the four metro cities.

model of car. The number of cars sold over 4 months is given

below. Using ANOVA, advice the company whether there is a

significant difference in the sales among the different show

rooms.

Months Show Rooms

A B C D E

Septembe 8 9 7 6 9

r

October 10 11 8 9 9

Novembe 8 10 9 11 10

r

December 7 10 8 9 9

BUSINESS STATISTICS

INDEX NUMBERS

1. Calculate Fisher’s ideal index and test for the factor reversal

test and the time reversal test for the following data:

Commodity A B C D E

Base year Price 30 32 30 31 32

Base year Quantity 95 115 120 125 125

Current year Price 22 24 25 27 28

Current year 215 220 219 222 224

Quantity

and prove that it satisfies the time reversal test and factor

reversal test.

Price Expenditure year Price year

Expenditure

A 10 55 14 80

B 12 65 16 50

C 8 40 10 60

D 16 80 18 70

E 14 70 12 95

quantities of four items purchased by children, compute price

index for the year 2000 with the year 1995 as base by Fisher’s

Method :

ITEMS 1995 2000

Price Quantity Price Quantity

Comic 8 1 10 2

Books

Toffees 1 30 2 25

Ice Cream 5 5 6 10

Play Articles 10 1 15 1

information.

Items Price Quantity

Base year Current Base year Current

year year

Rice 400 850 100 120

Wheat 320 690 20 60

Sugar 720 1600 10 10

Dhaal 720 2100 10 20

Interpret the results.

Fisher’s method for the following data:

Commodity 2007 2008

Price Quantity Price Quantity

A 2 8 4 6

B 5 10 6 5

C 4 14 5 10

D 2 19 2 13

prove that it satisfies the time reversal test and factor

reversal test:

Commoditie 2007 2008

s Price Quantity Price Quantity

P 14 70 18 95

Q 16 80 20 50

R 12 55 14 75

S 20 95 22 60

T 18 85 16 85

index as given below :

Quarter Seasonal Index

January to March 98

April to June 90

July to September 82

October to December 130

If the total sales of garments in the first quarter is 1,00,000,

determine how much worth of garments of this type should be

kept in stock to meet the demand in each of the remaining

quarters.

Year QUARTER

I II III IV

2000 68 62 61 63

2001 65 58 66 61

2002 68 63 63 67

the following data.

Commodity Base Year Current Year

Price Quantity Price Quantity

A 2 8 4 6

B 5 10 6 5

C 4 14 5 10

D 2 19 2 13

BUSINESS STATISTICS

CORRELATION AND REGRESSION ANALYSIS

1. Calculate whether there is any correlation between the

salaries and the amount spent on car maintenance. Use Karl

Pearson’s method for correlation, determine the probable

error and the comment on the significance of correlation.

Average salary (in Rs.) 10,00 12,00 15,00 18,000 20,000

0 0 0

Maintenance (in Rs.) 750 900 1,200 1,500 2,000

X 30 50 20 80 10 20 20 40

Y 50 80 30 110 20 20 40 50

3. For the data below on the related variables X and Y, (i) Draw

the scatter diagram (ii) Compute the co-efficient of

correlation (iii) Interpret the results.

X 110 100 140 120 80 90

Y 70 60 80 60 10 20

Advertisement Cost and the Sales as per the data given

below :

Advertisement (in ‘000 39 6 6 9 82 7 2 9 3 78

Rs.) 5 2 0 5 5 8 6

Sales (in Rs. Lakhs) 47 5 5 8 62 6 6 9 5 84

3 8 6 8 0 1 1

A and B as follows.

Candidate I II III IV V VI VII

Rank by A 3 4 5 6 1 2 7

Rank by B 2 1 7 5 3 4 6

Statistics (X) on the marks in Accountancy (Y) was 3 y – 5 x +

180 = 0. The mean marks in Accountancy was 44 and the

variance of marks in Statistics was 9/16th of the variance of

marks in Accountancy. Find the mean marks of Statistics and

the co-efficient of correlation between marks in two subjects.

operators and their performance ratings as given by the

number of good parts turned out (Y) per 100 pieces by the

operator.

Operato A B C D E F G H

r

X 16 12 18 4 3 10 5 12

Y 87 88 89 68 78 80 75 83

units in Textile industry.

Fixed Assets as a percentage of 65 6 6 6 6 6 7 7 7

total investment 6 7 7 8 9 1 2 3

Long term debt as a percentage 65 6 6 6 7 7 7 6 7

of total investment 6 9 7 0 1 6 6 0

Operator A B C D E F G H

Experience in years (X) 17 13 19 5 4 1 6 1

1 4

Production in units daily (Y) 86 87 88 6 6 6 7 8

7 6 9 4 2

operators in a factory and the number of units of production

turned out per day.

Lathe Operator 1 2 3 4 5 6 7

Experience in years (X) 14 10 1 2 1 8 3

6

Units of production (Y) 84 80 8 6 54 7 5

7 0 8 6

Calculate the regression lines and (i) Estimate the probable units

of production of a lathe operator with an experience of 15 years

(ii) Estimate the years of experience of a lathe operator with a

daily production of 96 units.

of price (X) on the sales (Y) of a new product. He has selected

four similar stores in the chain and measured demand in a two

week period at each of the four prices, Rs. 20, Rs. 30, Rs. 40

and Rs. 50. The total demand at each of these prices is given

in the following table.

Price (Rs.) 20 30 40 50

Demand (Qtty) 138 111 84 47

(a) Find the least square regression line for this problem.

(b) Find the co-efficient of determination.

12. The following data gives the work experience of machine

operators in a factory and the number of units of production

turned out per day :

Machine Operator 1 2 3 4 5 6 7 8 9

Work Experience (X) 6 8 7 5 2 1 3 9 1

0

Work Experience (Y) 50 60 5 4 2 2 4 62 7

4 7 5 0 1 0

(a) Calculate the regression lines and estimate the probable units

of production of a machine operator with an experience of 12

years.

(b) Estimate the probable years of experience of a machine

operator whose daily production is 85 units.

of X and Y and predict X, when Y = 20.

X 1 2 3 4 5 6 7 8 9

Y 9 8 10 12 11 13 14 16 15

BUSINESS STATISTICS

TREND ANALYSIS

data given below and project the probable sales for the next

two years. A graph is not necessary.

Year 2001 2002 2003 2004 200 200

5 6

Sales (in ‘000 Rs.) 164 180 186 187 190 192

the following data :

Year 2001 2002 2003 2004 2005

Values 75 68 50 67 64

plot on a graph for the following data about the sales of a

trading firm.

Year 2001 2002 2003 200 200

4 5

Sales (in lakhs of rupees) 75 90 91 95 98

the data given below :

Year 2001 2002 2003 2004 2005

Value 78 72 54 70 67

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