Explain the utility of statistics as a managerial tool. Also discuss its limitation
[7 marks]A Study of 100 electric companies gives the following information Profit(Rs.In Crore 0-10 10-20 20-30 30-40 40-50 50-60 No. of companies 8 12 20 30 20 Calculate Mean, standard deviation and variance.
[10 marks]Explain uses and properties of correlation and Regression analysis.
[7 marks]Ahusband and wife appear in an interview for two vacancies in the same post. The Probability of husband’s selection is 1/7 and that of wife’s selection is 1/5.What is the probability that I. Both of them will be selected. II. Only one of them will be selected. III. None of them will be selected.
[7 marks]Discuss the various types of events under the concept of probability.
[7 marks]Charts are more attracting attention than other methods of presenting data. Do you agree? Give reason for your answer.
[7 marks]Find the missing frequencies in the following frequency distribution. The Arithmetic mean of the given data is 11.09 Class Interval Frequency 9.3 – 9.7 9.8 - 10.2 10.3 - 10.7 x 10.8 – 11.2 y 11.3 – 11.7 11.8 – 12.2 12.3 – 12.7 12.8 – 13.2 1 Total 60
[3 marks]What do you understand by ‘coefficient of variation’? Discuss its importance in business problems.
[7 marks]The following data relate to area in millions of square kilometer of oceans of the world. Ocean Area(Million sq km) Pacific 70.8 Atlantic 41.2 Indian 28.5 Antarctic 7.6 Arctic 4.8 Draw a Pie chart for this data. Page 1 of
[2 marks]What is a scatter diagram? How does it help in studying the correlation between two variables, in respect of both its direction and degree?
[7 marks]Acan hit a target 3 times in 5 shots; B, 2 times in 5 shots; C, 3 times in 4 shots. They fire a volley. What is the probability that 2 shots will hit the target?
[7 marks]The following table gives the distribution of items of production and also the relatively defective items among them, according to size of groups. Find the correlation coefficient between size and defect in quality. Size – group No. of items No. of defective items 15-16 200 150 16-17 270 162 17-18 340 170 18-19 360 180 19-20 400 180 20-21 300 114
[7 marks]Assume that a factory has two machines. Past reco rds show that the machine I Produces 30 percent of the items of output and machine II produces 70 percent of the items. Further, 5 percent of the items produced by machine Iwere defective and only Ipercent produced by machine 2 were defective. If a defective item is drawn at random, What is the probability that the defective item was produced by machine Ior machine II?
[7 marks]What are advantages and disadvantages of the three common measures of central tendency.
[7 marks]From a computer tally based on employer records, the personnel manager of a Large manufacturing firm finds that 15 percent of the firm’s employees are Supervisors and 25percent of the firm’s employees are college graduates. He also Discover that 5 percent are both supervisors and college graduates. Suppose an Employee is selected at random from the firm’s personnel records, what is the Probability of: 1. Selecting a person who is both a college graduate and a supervisor? 2. Selecting a person who is neither a supervisor nor a college graduate?
[7 marks]The following distribution gives the pattern of overtime work per week done by 100 employees of a company. Calculate Q D P 1, 7, 60. Overtime hours 10-15 15-20 20-25 25-30 30-35 35-40 No. of employees 11 20 35 20 8
[6 marks]Explain the concept of permutation and combination with respect to probability. Page 2 of
[2 marks]