Business Statistics — Summer 2018

Define the following: 1) Standard Deviation & Variance 2) Absolute & Relative Measures of Dispersion 3) Quartile Deviation and Coefficient of Quartile Deviation

Adata set contains the following eight values. a. Find the range. b. Find the mean absolute deviation. c. Find Lower Quartile d. Find upper Quartile e. Find the inter-quartile range.

Determine the mean, the variance, and the standard deviation of the following x 0 1 2 3 4 5 6 P(x) .103 .118 .246 .229 .138 .094 .071 .001

What is Probability? Explain Rules of Probability with examples.

Machines A, B, and 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.

Define sampling. Discuss Probability and Non Probability sampling methods.

PWC Associates reports that the mean height for a Class Awarehouse is 22 feet. Suppose heights are normally distributed and that the standard deviation is 4 feet. A Class Awarehouse is randomly selected. a. What is the probability that height is greater than 17 feet? b. What is the probability that height is less than 13 feet? c. What is the probability that height is between 25 and 31 feet?

Determine the value of the coefficient of correlation, r, for the following data. X 4 6 7 11 14 17 21 Y 18 12 13 8 7 7

Explain in brief with example; uniform, normal and exponential distribution.

Write a note on ‘Why statistics is important in Business’

Asample of 12 MNC's reveals the following numbers of professionals per office. a. Determine the mean. b. Determine the variance. c. Determine the standard deviation. d. What is the coefficient of variation for this sample?

The Air Transport Association of India publishes figures on the busiest airports. The following data are constructed from these figures for a recent year. Assume these are population data. Number of Passengers Arriving and Departing Number of (millions) Airports 20–30 30–40 40–50 1 50–60 0 60–70 70–80 1 a. Calculate the variance. b. Calculate the standard deviation.

What is Permutation and Combination? Explain with suitable examples.