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EXTENSION MANAGEMENT
BUSINESS ANALYTICS
Batch of 2018-20
Submitted by –
Abhishek Sharma (05)
Basina Kiran Kumar (31)
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I. Table of Contents
Q. No Topic Covered Page No
1 Basic Questions
2 Probability
3 Conditional Probability
4 Joint Probability
5 Binomial Distribution
6 Normal Distribution
7 Sampling Distribution
8 Sample Size
9 Interval Estimate
10 Sample Size Estimation
2
III. DATA SET: ANALYSIS & RESULTS.
QUESTION 1.- Solutions
a) 1457 products
As par with the data given, If we assume the margin of error of 5%
and level of confidence 95%, we need to take 360 samples to analyze
the data.
d)
Qualitative Quantitative
Item identifier Item Weight
Item fat content Item Visibility
Item type Item MRP
Outlet Identifier Outlet Establishment
Year
Outlet Size Item Outlet Sales
Outlet Location Type
Outlet Type
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f) MEAN MEDIAN MODE OF QUANTITATIVE DATA
For Item Visibility – Median is preferred too many extreme values are
also there.
For Item MRP – Median will be preferred because extremes are there,
like a person wants to buy something neither too high nor too low price
For Outlet Establishment Year- we can use mode and median, but the
best will be MODE because we will be able to know that in 1985
maximum outlets opened
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g) ITEM ITEM ITEM ITEM OUTPUT
OUTPUT VISIBILITY WEIGHT MRP ESTABLISHMENT
SALES YEAR
Mean 2170.014226 0.070877867 12.86294 140.3718 1997.845
Standard
Error 19.06090598 0.000561118 0.051995 0.696453 0.093568
Median 1777.686 0.058132006 12.6 142.2996 1999
Mode 958.752 0.058542509 12.15 172.0422 1985
Standard
Deviation 1704.859259 0.050187881 4.650581 62.29264 8.369014
Sample
Variance 2906545.094 0.002518823 21.6279 3880.373 70.0404
Kurtosis 1.72237215 1.731135114 -1.22985 -0.89485 -1.20356
Skewness 1.202300733 1.199493109 0.077047 0.137919 -0.3983
Range 13053.6748 0.32481625 16.795 235.5984 24
Minimum 33.29 0.003574698 4.555 31.29 1985
Maximum 13086.9648 0.328390948 21.35 266.8884 2009
Sum 17360113.81 567.0229365 102903.5 1122974 15982758
Count 8000 8000 8000 8000 8000
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h)
Grand
Tier 1 Tier 2 Tier 3 Total
Sum of Item 4169175.0 6056090.8 7134847.9 17360113.
Outlet Sales 17 34 57 81
i)
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Seafood
Snack Foods
Soft Drinks
Starchy Foods
Grand Total
8
Fruits and Vegetables 630 602 1232
Hard Drinks 214 214
Health and Hygiene 278 278
Household 637 637
Meat 170 255 425
Others 161 161
Seafood 37 27 64
Snack Foods 691 508 1199
Soft Drinks 374 75 449
Starchy Foods 82 66 148
Grand Total 4993 3007 8000
Grand
items High Medium Small (blank) Total
Baking Goods 73 203 186 185 647
Breads 25 83 71 72 251
Breakfast 13 36 30 31 110
Canned 65 217 189 178 649
Dairy 79 215 196 186 676
Frozen Foods 93 275 492 860
Fruits and
Vegetables 142 413 328 349 1232
Hard Drinks 23 75 50 66 214
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Health and
Hygiene 32 91 73 82 278
Household 78 202 172 185 637
Meat 41 149 119 116 425
Others 15 49 53 44 161
Seafood 5 21 20 18 64
Snack Foods 125 407 335 332 1199
Soft Drinks 50 138 128 133 449
Starchy Foods 19 48 38 43 148
Grand Total 878 2622 2480 2020 8000
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Q2=
a)
Grand
Gender Low Fat Regular Total
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Q3-
12
P(mountain dew
971772.3848/1832597.855)P(88342.94407/971772.3848)
P(cold king 498607.633/1832597.855) (88342.94407/971772.3848)
ii. Based on the probability obtained by the above question calculate the
probability that the item selected by quality supervisor found to be
defective and supplied by Cold king (two Level )
c. Using your answer to (a) and the probabilities listed on the flier what
is the standard deviation of the value of the prize won by the loyal
customer who has received flier.
Standard deviation = 0.34375
d. Do you think this is an effective promotion? Why or why not?
If this promotion leads to the increase in the profits more than the $65,090
then it is effective.
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a. Four stores will provide home delivery services
Probability = 6C4 (0.5)4 (0.5)2 = 0.2343
b. All six stores will provide home delivery services
Probability = 6C6 (0.5)6 (0.5)0 = 0.015625
c. At least four stores will provide home delivery services
Probability = P(4) + P(5) + P(6) = 0.34375
e. What are the mean and standard deviation of number of stores which
provides home delivery services in a survey of six stores?
Mean 2170.014226
Standard
deviation 1704.859259
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Sales between “1000-3000”
=3537 b) Probability=0.442125
a. what is probability that the randomly selected store has achieved sales
more than $5000
P(x>$5000) = stores having more than 5000= 584 divided by
total 8000 = 0.073
b. what is probability that the randomly selected store has achieved sales
between $1000 and $3000
Probability =0.442125
c. Between what two values will the middle 95% of the store sales will
fall
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10.14817 9.77351 9.960842
11.03473 12.23806 11.6364
11.54 12.53984 12.03992
8.510741 13.18551 10.84813 BY EXCEL DATA ANALYTICS TOOL
11.14093 18.18251 14.66172
RANDOM SAMPLE GENERATOR WE
6.819343 15.38313 11.10124
10.50682 9.760462 10.13364 FIND RANDOM SAMPLE
6.331485 20.65215 13.49182
6.956565 18.66692 12.81174
17.43719 16.6474 17.0423
10.50855 9.374413 9.941481
17.42311 20.36109 18.8921
18.7159 7.071754 12.89382
13.09111
13.09111
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8. BIGMART store is estimating annual sales from its business across
10 stores. The standard deviation of the annual sales for the entire
population (8000 Stores) is 1704 pounds. How large the sample size
should the BIMART store considered in order to estimate the mean
annual sales of last year within $1000 and at 95% confidence level.
SD = 1704
= 0.05
= 0.025
= 1.96
N=11.15
n=11
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mean of __136.95__ (calculate) pounds and standard deviation is
___54.40_____ (calculate) pounds.
a. Construct 95% confidence interval for the mean spending for all
products in the vegetable & fruit category (Population Standard
deviation is unknown)
ME = t0.05/2 X 54.40/√350
= 2.011* 2.90
= 5.847
C.I = 136.95 ± 5.847
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