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Assignment Questions Final

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29 views3 pages

Assignment Questions Final

Uploaded by

gururajbhandari083
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Final Assignment Problems related to Statistics for Business Decisions

1. A management consulting firm, has four types of professionals on its staff: managing
consultants, senior associates, field staff, and office staff. Average rates charged to
consulting clients for the work of each of these professional categories(X) are Rs.
3150/hour, Rs. 1680/hour, Rs. 1260/ hour, and 630/hour respectively. Office records
indicate the following number of hours billed last year in each category (f) : 8000,
14,000, 24,000, and 35,000 respectively. If the firm is trying to come up with an average
billing rate for estimating client charges for next year, what would you suggest they do
and what do you think is an appropriate rate (Mean)?

2. The following distribution gives the pattern of overtime work per week done by 100
employees of a company. Calculate median.
Overtime hours: 10–15 15–20 20–25 25–30 30–35 35–40
No. of employees: 11 20 35 20 8 6
3. The number of patients seen in the emergency ward of a hospital for a sample of 5 days
in the last month were: 153, 147, 151, 156 and 153. Determine the mean deviation from
mode and interpret.

4. Calculate mean deviation from median from the data given below:
Wages (Rs.) (mid Point): 125 175 225 275
No. of persons: 3 8 21 6

5. Find the mean deviation from mean for the following frequency distribution of sales (Rs.
in thousand) in a co-operative store.
Sales: 50–100 100–150 150–200 200–250 250–300 300–350
Number of days: 11 23 44 19 8 7

6. The wholesale prices of a commodity for seven consecutive days in a month is as


follows:
Days: 1 2 3 4 5 6 7
Commodity price/quintal: 240 260 270 245 255 286 264
Calculate the variance and standard deviation.
7. A company is planning to improve plant safety. For this, accident data for the last 50
weeks was compiled. These data are grouped into the frequency distribution as shown
below. Calculate the A.M. and the Median of the number of accidents per week.
Number of accidents: 0–4 5–9 10–14 15–19 20–24
Number of weeks: 5 22 13 8 2
8. In an examination of 675 candidates, the examiner supplied the following information:

Calculate the mean percentage of marks obtained.


9. A study of 100 engineering companies gives the following information:
Profit (Rs. in crore) : 0–10 10–20 20–30 30–40 40–50 50–60
Number of companies : 8 12 20 30 20 10
Calculate the standard deviation of the profit earned.
10. The number of employees, wages per employee and the variance of the wages of
employees for two factories are given below:
Factory A Factory B
No. of employees 10 5
Average wages per employee per month 1,200 1000
Variance of the wages (Rs.) 81 256
Suppose in factory B, the wages of an employee were wrongly noted as Rs. 900 instead of Rs.
910, In which factory is there greater variation in the distribution of wages per employee? (CV)

11. The number of shareholders, Average value per share and the variance of the share value
of shareholders for two Companies are given below:
Company A Company B
No. of Shareholders 30 45
Average value per share 110 120
Standard Deviation 9 12
In which company is there greater variation in the value of shares? (CV)
12. The following data give the number of passengers travelling by airplane from one city to
another in one week. 115, 122, 129, 113, 119, 124, 132, 120, 110, 116, Calculate the
mean and standard deviation

13. The following table gives indices of industrial production and number of registered
unemployed people (in lakh). Calculate the value of the correlation coefficient.
Year : 1991 1992 1993 1994 1995 1996 1997 1998
Index of Production: 100 102 104 107 105 112 103 99
Number Unemployed: 15 12 13 11 12 12 19 26
14. The owner of a small garment shop is hopeful that his sales are rising significantly week
by week. Treating the sales for the previous six weeks as a typical example of this rising
trend, he recorded them in Rs. 1000’s and analysed the results by applying regression
analysis.
Week: 1 2 3 4 5 6
Sales: 2.69 2.62 2.80 2.70 2.75 2.81
Fit a linear regression equation to suggest to him the weekly rate at which his sales are
rising and use this equation to estimate expected sales for the 7th week.
15. Calculate Fisher’s Index Number and prove that Fisher’s Index Number as Ideal Index
Number ( by applying Time and Factor Reversal Test)
Commodity A B C D
Price (Base year) 4 5 3 2
Price (Current Year) 5 4 6 3
Quantity (Base Year) 10 8 15 20
Quantity (Current Year) 8 12 5 15

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