Business Statistics- NMIMS Latest solved assignments

 

 

Dear students, get latest Solved assignments and case study help by professionals.

Mail us at : help.mbaassignments@gmail.com

Call us at : 08263069601

 

Business Statistics

April 2021 Examination

 

Question 1) Nemi Mehta is owning 50 Hectares of land near Junagadh. On his Farm, he cultivates Giloy, which is a medicinal plant in Ayurveda. The below-given table shows the sales of ‘Giloy Vati’ that his team is preparing as per one Ayurveda script (book), and the amount they spend on the Advertisement of it.

Nemi’s problem is to analyze the effect of Advertisement on sales. Firstly, He wants to understand the presence of a linear relationship between the sales and ‘amount spent in advertisement’. He also wants to run a correlation and regression to know whether he should keep spending money on Advertisements or not. If sales figures are not affected by advertisement, he should not spend money on it. So, Calculate Karl Person’s correlation, Regression Model (with bo and b1), R-square, ANOVA Table. Also, provide EXCEL- Generated Output Along with your calculations.

 

Region code	Sales (1NR 000s)	Advertising (TV spots per month) (in INR, 000s)
1	260.3	5
2	286.1	7
3	279.4	6
4	410.8	9
5	438.2	12
6	315.3	8
7	565.1	11
8	570.0	16
9	426.1	13
10	315.0	7
11	403.6	10
12	220.5	4
13	343.6	9
14	644.6	17
15	520.4	19
16	329.5	9
17	426.0	11
18	343.2	8
19	450.4	13
20	421.8	14

 

Ans 1.

To find Karl Person’s correlation the following calculations are need to be done.

 

 

Now, for regression output Excel has been used. Since,

 

 

Question 2) The table given below is the ‘single year age population’ (taken from census 2011). This table shows the population of people (age-wise) living in Leh at the time of the census 2011 survey. Transform this ungrouped data into Grouped data by forming age groups then find out Mean, Median, Variance, Standard deviation, Ogive, and Histogram. Write the summary based on your calculations.

 

Age in Years	Population	Age in Years	Population	Age in Years	Population	Age in Years	Population	Age in Years	Population
0	992	11	1998	22	2839	33	2696	44	1652
1	1958	12	1916	23	2935	34	2781	45	1806
2	1725	13	2138	24	3601	35	2799	46	1460
3	1814	14	2139	25	4110	36	2450	47	1226
4	1768	15	2096	26	4089	37	2142	48	1225
5	1871	16	2044	27	3716	38	2114	49	1006
6	1888	17	2027	28	3702	39	1725	50	1454
7	1768	18	2065	29	3084	40	2218
8	1712	19	2013	30	3475	41	1802
9	1780	20	2459	31	2844	42	1751
10	1862	21	2594	32	2684	43	1659

 

Ans 2.

To transform the given data from ungrouped to grouped data. Consider we want 6 age groups then we need to find class width. The class width is equal to range divided by number of classes. Now, to find range the minimum value inage column is 0 and maximum value is 50.

Since, Range = Maximum – Minimum hence, it becomes Range = 50 – 0 = 50

Now, the class width = Range/6 = 50/6 = 8.33.Hence, by rounding to whole

 

 

 

a)      Mean

 

 

 

b)     Median

 

 

 

c)      Variance

 

 

 

The standard deviation is nothing but square root of variance.

d)     Standard deviation

 

 

 

e)      Ogive (Cumulative frequency graph)

Based on the data provided, we can construct the cumulative frequencies associated to each class, by adding all the frequencies up to that class, or equivalently,

 

 

Question 3a) The given table shows the rainfall of Gujarat Region. Forecast the rainfall using Exponential Smoothing. Use Alpha =0.2, 0.5 and 0.8. Data is available from 1997 to 2016, use this series for the calculation and forecast the rainfall for the year 2017. To know, the extent the prediction is correct the actual rainfall for 2017 (1024.4 millimeters) is provided. Find out which alpha values among the three suggestions are near to accurate value?

 

SUBDIVISION	YEAR	ANNUAL (in MM)
Gujarat Region	1997	1068.9
Gujarat Region	1998	1070
Gujarat Region	1999	568.4
Gujarat Region	2000	550.6
Gujarat Region	2001	849
Gujarat Region	2002	637.2
Gujarat Region	2003	1160.3
Gujarat Region	2004	1005.8
Gujarat Region	2005	1316.4
Gujarat Region	2006	1478
Gujarat Region	2007	1178.9
Gujarat Region	2008	911.1
Gujarat Region	2009	641.6
Gujarat Region	2010	1088.7
Gujarat Region	2011	890.5
Gujarat Region	2012	714
Gujarat Region	2013	1118.6
Gujarat Region	2014	705.7
Gujarat Region	2015	622.9
Gujarat Region	2016	764.9

 

Ans 3a.

 

For

 

The exponential smoothing (ES) forecast with smoothing constant α=0.2 for the n^th period is computed using the following formula:

 

Fn​=Fn−1​+α(An−1​−Fn−1)

 

 

 

Question 3b) A new gas-electric hybrid car has recently hit the market. The distance traveled on 1 gallon of fuel is normally distributed with a mean of 65 miles and a standard deviation of 4 miles. Find the probability of the following events. (show the concerned region by z curve)

1. The car travels more than 70 miles per gallon.

2. The car travels less than 60 miles per gallon.

3. The car travels between 55 and 70 miles per gallon.

Ans 3b.

 

It is given that the distance travelled on 1 gallon of fuel is normally distributed with a mean of 65 miles and a standard deviation of 4 miles. In symbolic form the mean and standard deviation are

 

 And 

 

a)      To find the probability that car travels more than 70 miles per

 

 

 

b)      To find the probability that car travels less than 60 miles per gallon i.e. P(X <60)

 

 

 

 

 

 

 

c)      To find probability that the car travels between 55 and 70 miles per gallon i.e. P (55 < X < 70)

 

 

 

Dear students, get latest Solved assignments and case study help by professionals.

Mail us at : help.mbaassignments@gmail.com

Call us at : 08263069601