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Decision Science Mba Assignment Semester2

1. A probability tree diagram shows all possible outcomes of an event and their probabilities. It was used to calculate the probability of Team Garuda winning the championship based on their 60% overall chance of winning and 25% chance of winning if they lose the first game. 2. Regression analysis identifies which variables impact an outcome. It was performed using data on diet (dependent variable) and exercise (independent variable) to calculate a regression equation and determine how much of the diet outcome is explained by exercise. 3. Based on consumer ratings data, a regression line was calculated relating quality ratings (independent variable) to compliance scores (dependent variable). The slope showed quality has a positive impact on compliance.

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0% found this document useful (0 votes)
58 views

Decision Science Mba Assignment Semester2

1. A probability tree diagram shows all possible outcomes of an event and their probabilities. It was used to calculate the probability of Team Garuda winning the championship based on their 60% overall chance of winning and 25% chance of winning if they lose the first game. 2. Regression analysis identifies which variables impact an outcome. It was performed using data on diet (dependent variable) and exercise (independent variable) to calculate a regression equation and determine how much of the diet outcome is explained by exercise. 3. Based on consumer ratings data, a regression line was calculated relating quality ratings (independent variable) to compliance scores (dependent variable). The slope showed quality has a positive impact on compliance.

Uploaded by

Manish Jhawar
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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ANSWER 1.

INTRODUCTION
A probability tree diagram is a way to visualize all possible outcomes of an event. Each branch
of the tree represents a different possible outcome, and the branches are labeled with the
corresponding probability. The tree diagram can be used to calculate the probability of a given
outcome by adding up the probabilities of all the branches leading to that outcome. According to
Raj Kaul's study on the current scenario, there is a 60% chance of Garuda winning the final
season of Indian Premier League. However, past records show that when teams lose the first
game of the series, they win the championship only 25% of the time. Hence, Garuda is more
likely not to win the last Indian Premier League season.

CONCEPT AND APPLICATION


A probability tree diagram is used to show the probability of events occurring without using
complicated formulas. Returns all possible outcomes of an event. The purpose of a probability
tree is to show all possible outcomes of an event and calculate the probability of those outcomes.
A probability tree diagram can represent a series of independent events or can be used to denote
conditional probabilities. A probability tree diagram is a diagram used to visually represent the
probabilities as well as the outcomes of an event. A probability tree illustration consists of
two corridor bumps and branches. A NODES is used to represent an event. A branch is used to
show the connection between an event and its outcome. A probability tree diagram can be used
to show conditional probabilities as well as independent events. In this article, we will learn
about a probability tree diagram, how to draw a probability tree and see some examples.

Therefore, the probability that he wins his series, i.e.

W: A circumstance or event that causes Team Garuda to win the series.

L: A fact that the Garuda team loses the series

F: A fact that the Garuda team wins the first game

F': A circumstance that the Garuda team loses the first game

From the given data:

P (W) = 0.6, it tracks that p (L) = 1-0.6 = 0.4

P (F/W) = 0.70, it tracks that p (F’/W) = 1-0.70 = 0.3

P (F/L) =0.25, it tracks that p (F’/L) = 1- 0.25 = 0.75


FIGURE 1.1 TREE DIAGRAM

Using a tree diagram used in a case study, a Garuda may start at a lonely point, move through parts of
the tree, experience collective limiting events, or make mutually irreconcilable judgments. The concept
of this diagram is that Garuda has an alternative to win or lose the collection and it is designed as a
starting node. It offers strategic trading through the combination of opportunity, options, prices and
incentives to make decisions. A single entity serves as the starting factor of the diagram, from which
branches emerge to other nodes that represent equally unique choices or events. However, other
options or alternatives must appear in the second node until the progress of the method arrives.

The probability tree is as follows:

The required probability is p(W/F)

P (W/F’) = p (WՈ F’) / P (F’)

0.18 / 0.18 +0.3

0.180 / 48

0.375
OR

CONCLUSION
According to Raj Kaul's latest scenario study, Garuda has a 60 percent chance of winning the
final season of Indian Premier League. However, the team lost the first game of the series. Past
records show that teams have a 70% chance of winning the first game of the series if they win
the championship and a 25% chance of winning the first game if they lose the series. Therefore,
it is still possible for Garuda to win last season, although the odds are not in his favor.

ANSWER 2.

INTRODUCTION

Regression analysis is a reliable method of identifying which variables have impact on a topic of
interest. The process of performing a retrogression allows you to
confidently determine which factors count most, which factors can be ignored, and how
these factors impact each other.

CONCEPT AND APPLICATION

Calculation of Regression analysis:

X Y X*Y χ2 y²
5 5 25 25 25
5 5 25 25 25
4 5 20 16 25
4 5 20 16 25
5 5 25 25 25
5 5 25 25 25
3 5 15 9 25
5 5 25 25 25
4 4 16 16 16
4 4 16 16 16
4 4 16 16 16
4 4 16 16 16
3 4 12 9 16
3 4 12 9 16
4 4 16 16 16
2 4 8 4 16
3 3 9 9 9
3 3 9 9 9
3 3 9 9 9
2 3 6 4 9
2 2 4 4 4
2 2 4 4 4
1 1 1 1 1
1 1 1 1 1
1 1 1 1 1
3 1 3 9 1
1 1 1 1 1
Sum = 86 Sum = 93 Sum = 340 Sum=320 Sum=377

With the given data


n
X ¿ 1/n ∑ Xi
i=0

= 86 /27 = 3.185185
n
Y ¿ 1/n ∑ Yi
i=0

= 93/27 = 3.444444444
n
1
SSxx=∑ X 2 − ¿
i=1 N

= 320 - 86 2 / 27 = 46.0740

n
1
SSyy=∑ Y −
2
¿
i=1 N
= 377 - 932 /27 = 56.66666

Therefore,
n n
1
SSxy=∑ X i Y i – ¿ (1/n ∑ Yi ¿
i=1 n i=0

= 93/27 = 43.777

As a result, using the calculations over, the regression coefficients (the inclination m and the Y-
intercept n) were just as follows:

M = SSxy / SSxx = 43.77777/ 46.074074

= 0.9502

N = Y – X *m = 3.4444444- 3.185185185 *0.9502

= 0.418

Through this, the regression equation is = Y = 0.418 + 0.9502 X

Therefore, based on the information provided above, the following scatter plot and regression
plot are obtained:
The Line of regression Y on X is

Y = 0.418 + 0.9502 X

A.

Regression is the study of how a dependent variable (e.g. diet) is affected by changes in an
independent variable (e.g. exercise). The dependent variable is assumed to be a linear function of
one or more independent variables with an error term added. The model is then fitted to the data
using regression analysis. The explained variance of the model is the percentage of the variation
in the dependent variable that can be explained by the independent variable(s). Unexplained
variance is the percentage of variation in the dependent variable that cannot be explained by the
independent variable(s). There are many types of regression, but the most common is linear
regression. Linear regression assumes that the dependent variable is a linear function of the
independent variable(s). The model is then fitted to the data using least squares regression. The
explained variance of the model is the percentage of the variation in the dependent variable that
can be explained by the independent variable(s). Unexplained variance is the percentage of
variation in the dependent variable that cannot be explained by the independent variable(s).
There are many types of regression, but the most common is linear regression. Linear regression
assumes that the dependent variable is a linear function of the independent variable(s) with an
error term added. The model is then fitted to the data using regression analysis. The explained
variance of the model is the percentage of the variation in the dependent variable that can be
explained by the independent variable(s). Unexplained variance is the percentage of variation in
the dependent variable that cannot be explained by the independent variable(s). Other types of
regression include logistic regression, Poisson regression, and multivariate regression.

CONCLUSION

Based on the data given, through analysis and calculations, Y = 0.418 + 0.9502 X is the
regression line Y on X, indicating that the regression of y on x is the term used to explain this
relationship, where y is the dependent variable and x is the independent variable. A simple
formula called the regression equation can be used to illustrate the relationship.

B. B1 is the slope of the regression formula, where b1 = 0.9502, showing a favorable


relationship between them as the scale goes from 1 to 5. A higher unit in the quality ratings
offered by consumers leads to an increase in consumer compliance score.

Shivani Raje makes kakhra and sells it online through e-commerce websites. Lately you've been
looking for ideas to improve the quality of your product. He thought of a survey and asked his
recent customers about the quality of the product and their satisfaction with it. The scale goes
from 1 to 5. The higher the score, the higher the satisfaction/quality, and the lower the score, the
lower the satisfaction and quality. Wanting to improve the quality of her product, Shivani Raje
decided to survey her recent customers. They will ask them to rate the quality of the product on a
scale of 1 to 5, with 5 being the highest. He hopes to use the feedback to improve the quality of
his product.

According to the survey, Shivani achieved the following results:

1. Average satisfaction is 4.2.

2. The average quality rating is 4.1.

According to the survey results, Shivani Raje can improve the quality of its product by focusing
on the areas that received the lowest ratings. You can also work on improving your product
packaging and marketing to attract more customers. Shivani can improve the quality of its
product by increasing the quality of its ingredients and providing a higher level of customer
service.

CONCLUSION

The value of b1's regression equation is equal to or greater than 0.9502, which indicates a good
web connection between them. With a matrix of 1 to 5, an increase in the superiority ratings
offered by customers leads to a boom in consumer satisfaction ratings. Therefore, according to
the study, Shivani Raje sells via e-commerce and her business rises to a higher level. Because of
this, it can be used to understand any type of trend that appears in the data. This fresh perspective
can often be the key to discovering what your business can make a difference in Khakhra.

REFRENCE:

https://www.cuemath.com/data/probability-tree-diagram/

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