Roll No………………….

Assignment

Q1. You are shopping for toilet tissue. As you compare prices of various brands, some offer
price per roll while others offer price per sheet. You are interested in determining which pricing
method has less variability so you sample several of each and calculate the mean and standard
deviation for the sampled items that are priced per roll, and the mean and standard deviation for
the sampled items that are priced per sheet. The table below summarizes your results.(5)

Which ttype of toilet paper will you buy ?How

did you reach the conclusion?
Q2..The local Bank has been monitoring the daily average waiting times for its customers. The
manager believed that there would be an improvement in the waiting times by having 1
permanent clerk and 2 floating clerks(Policy 1) instead of the current 2 permanent clerks(policy
2). The floating clerks would do other tasks except when the ques of peak hours. Last week the
manager implemented the new system
Old Policy:
4, 6, 12, 15, 18, 4, 4, 4, 14, 21, 0, 7, 8, 9, 18, 6, 6, 12, 22, 25
New Policy:
1, 3, 9, 14, 16

Were waiting times more variable using old policy or new policy? (5)
Q3. . Descriptive statistics for the closing stock prices of two companies for several trading
periods are shown below. (5)

Bata Liberty

Mean 4.04 Mean 16.41

Standard Error 0.11 Standard Error 0.22

Median 4.07 Median 16.83

Mode 3.59 Mode 16.59

 Standard Standard
Deviation 1.13 Deviation 2.34

Sample
Variance 1.28 Sample Variance 5.48

Skewness 0.04 Skewness -2.85

Range 3.98 Range 12.57

Minimum 2.00 Minimum 6.29

Maximum 5.98 Maximum 18.86

Sum 416.05 Sum 1919.63

Count 103 Count 117

a. Which company will you choose if you want to invest in stocks,. Explain. Show
your complete work and support your answer. (3)

b. Compare the Skewness of the two and explain what is indicated. (2)

Q4a. Identical computer components are shipped in boxes of 5. About 15% of

components have defects. Boxes are tested in a random order.

a)What is the probability that a randomly selected box has only non-defective
components?(2.5)
b)What is the probability that at least 8 of randomly selected 10 boxes have only
non-defective
components?(2.5)

Q4b. In the follow up survey of the 300 households that actually purchased HDTVs, the
households were asked if they were satisfied with their purchases. Table below cross classies the
responses:
Television Screen Satisfied with purchase?
Yes No Total
Large 64 16 80
Small 176 44 220

Total 240 60 300

Determine whether being satisfied with the purchase and the refresh rate of the television
purchased are independent.(5)