Briefly answer the followings
[14 marks]Type I & Type II Error
[ marks]Discrete Variable
[ marks]Kruskal Wallis Test
[ marks]Significance Level
[ marks]Nominal and Ordinal Data
[ marks]Uniform Distribution
[ marks]Find critical value for two tailed Utest if n =3 and n =6 and U =
[ marks]Discuss different non-parametric tests that can be applied on ordinal data.
[7 marks]Here are the ages of 50 members of a country social service program. State policies on social service programs require that approximately 50 percent of the program participants should be older than 50. Use these data to construct relative frequency distributions to answer following questions: 1. Is the program in compliance with the policy? 2. What is the proportion of program participants between 45 and 50 years old.
[7 marks]A Bicycle manufacturing Company sampled its shipping records for a certain day with these results: Time from Receipt of Order to Delivery (in Days) 1. Construct a frequency distribution for these data and a relative frequency distribution. Use intervals of 6 days. 2. If the company wants to ensure that at least half of its deliveries are made in 12 or fewer days, can you determine from the frequency distribution whether they have reached this goal? Page 1 of
[3 marks]Discuss Poisson Distribution along with its properties
[7 marks]Parminder Singh is the supervisor for the Krishna Hydroelectric Dam. He knows that the dam’s turbines generate electricity at the peak rate only when at least 10,00,000 gallons of water pass through the dam each day. The daily flow of water is normally distributed with mean 8,50,000 and standard deviation of 200000 gallons. 1. What is the probability that the turbine will generate electricity at peak rate? 2. What is the probability that less than 7,50,000 gallons of water will pass through the dam?
[7 marks]Discuss different measures of shape in detail
[7 marks]In a small town, two lawn companies fertilize lawns during the summer. Tri-State Lawn Service has 72% of the market. Thirty percent of the lawns fertilized by Tri- State could be rated as very healthy one month after service. Greenchem has the other 28% of the market. Twenty percent of the lawns fertilized by Greenchem could be rated as very healthy one month after service. Alawn that has been treated with fertilizer by one of these companies within the last month is selected randomly. If the lawn is rated as very healthy, what is the probability that Tri- State treated the lawn? If the lawn is rated as very healthy, what is the probability that Greenchem treated the lawn?
[7 marks]Hinton Press hypothesizes that the average life of its largest web press is 14,500 hours. They know that the standard deviation of press life is 2,100 hours. From a sample of 25 presses, the company finds a sample mean of 13,000 hours. At a significance level=0.01, should the company conclude that the average life of the presses is less than the 14,500 hours?
[7 marks]Abrand manager is concerned that her brand’s share may be unevenly distributed throughout the country. In a survey in which the country was divided into four geographic regions, a random sampling of 100 consumers in each region was surveyed, with the following results. Region North- North- South- South- East West East West Total Purchase the brand 40 55 45 50 190 Do not purchase 60 45 55 50 210 Total 100 100 100 100 400 At α = 0.05, test whether brand share is the same across the four regions.
[7 marks]Aketchup manufacturer is in the process of deciding whether to produce a new extra-spicy brand. The company’s marketing-research department took a sample of 6,000 households and found that the extra-spicy ketchup would be purchased by 335 of them. Amuch more extensive study made 2 years ago showed that percent of the households would purchase the extra-spicy ketchup then. At 2% level of significance level, should the company conclude that there is an increased interest in the extra-spicy flavour? Page 2 of
[3 marks]The data below shows the percentages of consumer loans with payments that are 30 days or more overdue for both bank credit cards and home equity loans over a 14-year period for a bank. Compute a Spearman’s rank correlation to determine the degree of association between these two variables. Bank Credit Home Equity Year Card Loan 1 2.51 2.07 2 2.86 1.95 3 2.33 1.66 4 2.54 1.77 5 2.54 1.51 6 2.18 1.47 7 3.34 1.75 8 2.86 1.73 9 2.74 1.48 10 2.54 1.51 11 3.18 1.25 12 3.53 1.44 13 3.51 1.38 14 3.11 1.3
[7 marks]CASE STUDY: Cost accountants often estimate overhead based on the level of production. At the Standard Knitting Co., they have collected information on overhead expenses and units produced at different plants. Overhead (Rs.) Units 40 42 53 35 56 39 48 30 37 40
[ marks]Develop a regression equation to predict future overhead expenses.
[7 marks]Interpret the slope (b1) value. Predict overhead when 50 units are produced.
[7 marks]Calculate the standard error of estimate.
[7 marks]Calculate coefficient of determination and interpret it. Page 3 of
[3 marks]