Define Kurtosis.
[ marks]Explain in short
[14 marks]State addition & multiplication rule of probability for two events A & B.
[ marks]What is Standard Normal Distribution?
[ marks]What is discrete and continuous variable?
[ marks]What is auto-correlation?
[ marks]What are the components of a time series?
[ marks]What is Hurwicz Criteria in decision making?
[ marks]Enlist different types of charts and graphs to display 1) Qualitative data 2) Quantitative data
[7 marks]Calculate Karl Pearson’s coefficient of skewness from the data given below: Hourly No. of Hourly No. of Wages Worker Wages Worker (Rs.) s (Rs.) s 40-50 5 90-100 30 50-60 6 100-110 36 60-70 8 110-120 50 70-80 10 120-130 60 80-90 25 130-140 70
[7 marks]Find the mean, Median and Mode of the following data Frequenc Class y 300-325 325-350 17 350-375 80 375-400 227 400-425 326 425-450 248 450-475 88 475-500 9 Page 1 of
[3 marks]Suppose that a decision maker is faced with three decision alternatives and four states of nature. The following table shows the profit payoff. States of nature Alternatives S1 S2 S3 S4 A1 16 10 12 A2 13 12 9 9 A3 11 14 15 Assuming that he does not have any knowledge of the of the probabilities of occurrence of the states of nature, find the decisions to be recommended under each of the following criteria 1) Maximin 2) Maximax 3) Minimax Regret
[14 marks]The probability of a bomb hitting a target is 0.2. Two bombs are enough to destroy a bridge. If six bombs are aimed at the bridge, find the probability that the bridge is destroyed.
[7 marks]Amaker of soft drinks is considering the introduction of new brand. He expects to sell 50,000 to 1,00,000 bottles of the new soft drink in a given period according to the following probability distribution. No. of bottles sold (in '000s) 50 60 70 80 90 100 Probability 0.13 0.20 0.35 0.22 0.08 0.02 If the product is launched he will have to incur a fixed cost of Rs. 48,000. However each bottle sold would give him a profit of Rs. 1.25. Should he introduce the brand?
[7 marks]Amanufacturer, who produces medicine bottles, finds that 0.1% of the bottles are defectives. Bottles are packed in boxes containing 500 bottles. A drug manufacturer buys 100 boxes from the producers of bottles. Using Poisson distribution, find how many boxes will contain 1) No defectives. 2) At least 2 defectives.
[7 marks]Explain different types of correlations with the help of scatter diagrams.
[7 marks]From the following data calculate price index numbers for 2010 with 2000 as base year by 1) Paasche’s Method and 2) Marshall-Edgeworth method. Commodities Price Quantity Price Quantity A 20 8 40 B 50 10 60 C 40 15 50 D 20 20 20 25
[15 marks]Explain the assumptions of simple linear regression model Page 2 of
[3 marks]Calculate (i) three yearly & (ii) five yearly moving averages for the following data: Year y
[7 marks]Adepartmental store gives in-service training to its salesmen which is followed by a test. It is considering whether it should terminate the services of any salesman who does not do well in the test. The following data shows the test scores and sales made by nine salesmen during a certain period: Test Scores 14 19 24 21 26 22 15 20 19 Sales ('000 Rs.) 31 36 48 37 50 45 33 41 397
[ marks]Calculate the coefficient of correlation between the test scores and the sales.7
[ marks]Estimate the most probable sales volume of a salesman making a score of 28.7
[ marks]If the firm wants a minimum sales volume of Rs. 30,000, what is the7 minimum test score that will ensure continuation of service?
[ marks]Estimate what will be the score if a salesman has achieved a sales of Rs. 55,000. Page 3 of
[3 marks]