Discuss the meaning and scope of statistics, bringing out its importance particularly in the field of trade and commerce.
[7 marks]Acompany is planning to improve plant safety. For this, accident data for the last 50 weeks was compiled. These data are grouped into the frequency distribution as shown below. Calculate the Arithmetic Mean of the number of accidents per week. No. of 0-4 5-9 10-14 15-19 20-24 accidents: No. of 5 22 13 8 weeks:
[2 marks]Define terms:
[7 marks]Sample space
[ marks]Random event
[ marks]Statistical experiment
[ marks]The following shows the weekly number of road accidents in a city during a two-year period: Number of accidents Frequency Number of accidents Frequency 0-4 5 25-29 9 5-9 12 30-34 10-14 32 35-39 15-19 27 40-44 1 20-24 11 Find the inter quartile range and co-efficient of quartile deviation.
[3 marks]Write a detailed note on level of data measurement.
[7 marks]The following data relate to age of employees and the number of days they reported sick in a month. Employees: 1 2 3 4 5 6 7 8 9 Age: 30 32 35 40 48 50 52 55 57 61 Sick days: 1 0 2 5 2 4 6 5 7 Calculate Karl Pearson’s coefficient of correlation and interpret it.
[8 marks]What do you mean by probability? Explain the importance of probability. Page 1 of
[2 marks]Quotations of index numbers of security prices of a certain joint stock company are given below: Year Debenture Price Share price 1 97.8 73.2 2 99.2 85.8 3 98.8 78.9 4 98.3 75.8 5 98.4 77.2 6 96.7 87.2 7 97.1 83.8 Using the rank correlation method, determine the relationship between debenture prices and share prices.
[7 marks]Explain concept of permutation and combination.
[7 marks]Astudy of 100 engineering companies gives the following information Profit(Rs.In 0-10 10-20 20-30 30-40 40-50 50-60 crore) No.of 8 12 20 30 20 companies Calculate the standard deviation of the profit earned.
[10 marks]Distinguish between correlation and regression. Also point out the properties of regression coefficients.
[7 marks]Five men in a company of 20 are graduates. If 3 men are picked out of the 20 at random, what is the probability that they are all graduates? What is the probability of at least one graduates
[7 marks]Point out the role of diagrammatic presentation of data. Explain briefly the different types of bar diagrams known to you.
[7 marks]Asurvey was conducted to determine the age (in years) of 120 automobiles. The result of such a survey is as follows: Age of 0-4 4-8 8-12 12-16 16-20 auto: Number of 13 29 48 22 autos: What is the median age for the autos?
[8 marks]What are regression lines? With the help of an example illustrate how they help in business decision-making.
[7 marks]Assume that a factory has two machines. Past records show that machine I produce 30% of the items of output and machine II produce 70% of the items. Further, 5% of the items produced by machine Iwere defective and only 1% produced by machine II were defective. If a defective item is drawn at random, what is the probability that the defective item was produced by machine I?
[7 marks]Write a detailed note on Mode. Page 2 of
[2 marks]