Course: Business Statistics

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Course: Business Statistics

Internal Assignment Applicable for June 2018 Examination

Assignment Marks: 30

Instructions:

·       All Questions carry equal marks.

·       All Questions are compulsory

·       All answers to be explained in not more than 1000 words for question 1 and 2 and for question 3in not more than 500 words for each subsection. Use relevant examples, illustrations as far aspossible.

·       All answers to be written individually. Discussion and group work is not advisable.

·       Students are free to refer to any books/reference material/website/internet for attempting theirassignments, but are not allowed to copy the matter as it is from the source of reference.

·       Students should write the assignment in their own words. Copying of assignments from otherstudents is not allowed.

·       Students should follow the following parameter for answering the assignment questions.

For Theoretical Answer			For Numerical Answer
Assessment Parameter	Weightage		Assessment Parameter	Weightage
Introduction	20%		Understanding and usage of the formula	20%
Concepts and Application related to the question	60%		Procedure / Steps	50%
Conclusion	20%		Correct Answer & Interpretation	30%

Question. 1. The sample data from a research survey conducted in various cities on the amount of time 13-15 year-old children spent with mobiles are as follows:

City	Time with mobiles (hours per week)
Hyderabad	46
Mumbai	50
Pune	46
Bangalore	54
Bhubneshwar	42
Indore	30
Bhopal	42
New Delhi	50
Chandigarh	46

For the above sample, determine the following measures:

i. The mean

ii. The standard deviation

iii. The mode

iv. The 75th percentile

Based on your calculations comment on the time spent on mobile.

Answer:

Mean (Average):	45.1111111111
Median:	46

Question. 2. ‘Mumbai Ice Cream an ice cream store gives relationship between ice cream sold and temperature. The store has taken a sample of a week’s data. Below you are given the results of the sample

Day	Cones Sold	Temperature
1	350	110
2	200	100
3	210	90
4	100	80
5	80	70
6	70	60
7	50	50

i. Which variable is the dependent variable?

ii. Compute the least squares estimated line.

iii. Is there a significant relationship between the sales of cones and temperature?

iv. Predict sales of a 95 degree day.

Answer:i) Sum of X = 1060

Sum of Y = 560

Mean X = 151.4286

Question. 3. According to one of the recent study conducted by an academic researcher on international placement of students from leading institutes in India there is a high variation in the salary offered by institutes. The following details have been gathered from the placement institute of the colleges. The researcher wants to understand the trends with regard to international placement based on the data he has gathered.

Amount (in USD in lakhs per annum )	Age	Marital Status	Type of institute	Gender
2	35	Single	University	Male

Question. a. Using descriptive statistics explore salary, and identify factors that appear to influence the amount of the salary received.

Answer:

Question. b. Do a correlation analysis between ‘Amount’ and ‘Age’ and interpreted the coefficient of correlation.

Answer:Result Details & Calculation

X Values

∑ = 52.5

Mean = 5.833

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