Business Statistics — Winter 2024

What is Statistics? Explain use of Statistics in Business Applications along with limitations of Statistics.

Determine Karl Pearson’s coefficient of Correlation r : X 29 26 25 30 35 18 27 36 32 Y 17 60 53 28 37 40 19 33 55

Explain the following graphs used for graphical representation of data in statistics with necessary example of your choice: 1. Frequency Polygon 2. Histogram 3. Ogives

Explain 4 levels of Data measurement with Suitable examples.

Find Range, 70th Percentile and Qof the following data:1

Write a short note on Skewness and Kurtosis.

From a computer tally based on employer records, the personnel manager of a large manufacturing firm finds that 15 per cent of the firm’s employees are supervisors and 25 per cent of the firm’s employees are college graduates. He also discovers that 5 per cent are both supervisors and college graduates. Suppose an employee is selected at random from the firm’s personnel records, what is the probability of:

Selecting a person who is a college graduate or a supervisor?

Selecting a person who is neither a supervisor nor a college graduate?

Explain Measures of Central Tendency with suitable example.

Machines A, Band Call produce the same two parts, Xand Y. Of all the parts produced, machine Aproduces 60%, machine Bproduces 30%, and machine C produces 10%. In addition, 40% of the parts made by machine Aare part X. 50% of the parts made by machine Bare part X. 70% of the parts made by machine Care part X. Apart produced by this company is randomly sampled and is determined to be an Xpart. With the knowledge that it is an Xpart, revise the probabilities that the part came from machine A, B, or C.

Determine Spearman’s Rank coefficient of Correlation r : s X 77.91 82.00 89.20 74.37 66.42 80.10 69.78 72.09 92.14 96.31 Y 65.46 64.18 65.66 59.23 65.68 69.55 67.81 67.39 82.06 84.40 Page 1 of

What is Simple Regression Model? Explain with a suitable example of your choice.

Explain Coefficient of Correlation and Coefficient of Determination.

The following data relates to the scores obtained by a salesmen of a company in an intelligence test and their weekly sales (in Rs. 1000’s ): Salesman A B C D E F G H I Test Score 50 60 50 60 80 50 80 40 70 Weekly Sales 30 60 40 50 60 30 70 50 60

Obtain the regression equation of sales on intelligence test scores of the salesmen.

If the intelligence test score of a salesman is 65, what would be his expected weekly sales?

What do you mean by Probability? Explain various methods of assigning the Probabilities.

Compute the mean and the median for the following data. Class Interval frequency 0–under 2 39 2–under 4 27 4–under 6 16 6–under 8 8–under 10 10–under 12 12–under 14

Explain the Structure of Probability with suitable examples.

Write about Box and Whisker Plot. Also explain use of Inner fences and Outer fences for finding Outliners from the data. Page 2 of