Course: Business Statistics

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NMIMS Global Access

School for Continuing Education (NGA-SCE)

Course: Business Statistics

Internal Assignment Applicable for September2016 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.

Question. 1. Explain the calculation and utility of standard deviation and Bowley’s coefficient ofskewness with one example for each. (Marks 10)

Answer:The standard deviation is utilized when you would need to quantify the arrangement of information on the premise of spread of scores. The general method for utilizing it is populace standard deviation. We get just information from test standard deviation and we can evaluate the populace with that. Fundamentally, the sample and population standard deviations are two various types of standard deviations which are calculated differently.

For instance, if we need to calculate the standard deviation to discover the gold coin sums that the pirate ship has. The computation would be as per the

Question. 2. The student scores in an examination are 35, 30, 25, 26, 40, 44, 36, 54, 64, 65, 75, 60,70, 85, 90, 92, 46, 52, 63, 52. The daily pocket money (in Rs.) for the same students(respectively) are 110, 110, 120, 140, 150, 140, 150, 210, 200, 140, 210, 240, 300, 260, 500,270, 310, 550, 450, 500. Find the following:-

(a) Regression of scores on pocket money (4 marks)

(b) Regression of pocket money on scores (4 marks)

(c) Derive Pearson’s Correlation coefficient from the above two regression coefficients (2 marks).

Answer : 2 a)

Scores(x)	Pocket Money(y)	∑xy	∑X2
35	110	3850	1225
30	110	3300	900
25	120	3000	625
26	140	3640	676
40	150	6000	1600

Question. 3. a)Explain Bayes’ Theorem with an example. What is the posterior probability in thesame example?

Answer:

– (i) Two cards are drawn at random from standard deck of 52 cards without replacement =

=

                     

b)Two cards were drawn, without replacement, from a pack of 52 cards. What is theprobability that they are both Kings? What is the probability for the same case if the cardswere drawn with replacement? (5 marks)

(ii) Two cards are drawn at random from a standard pack of 52 cards with replacement

       There are 4 kings in the pack of 52 cards in each of one suit, for drawing king from 52 card would have the probability =

        Since, you replaced the

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