Business Statistics — Winter 2019

Describe the main areas of Business and Industry where statistics are extensively used.

Explain the following terms: 1. Histogram 2. Polygon 3. Ogive 4. Pie chart 5. Stem and leaf display 6. Primary data 7. Secondary data

The following distribution gives the pattern of overtime work done by 100 employees of a company. Calculate the average overtime work done per employee and use step deviation method. Overtime 10-15 15-20 20-25 25-30 30-35 35-40 hours Employees 11 20 35 20 8

List down advantages and disadvantages of Mean, Median and Mode.

Find : 10p6 and 10c6

Explain following terms: 1. Random experiment 2. Mutually exclusive events 3. Sample space 4. Complementary events

An MBA applies for a job in two firms Xand Y. The probability of his being selected in firm Xis 0.7 and being rejected in firm Yis 0.5. The probability of at least one of his application being rejected is 0.6. What is the probability that he will be selected by one of the firms?

Properties of expected value and variance.

Amarket researcher at a major automobile company classified house-holds by car ownership. The relative frequencies of household for each category of ownership are shown below: No. of car per P(x) households 0 0.10 1 0.30 2 0.40 3 0.12 4 0.06 5 0.021 Calculate expected value and standard deviation of the random variable.

Calculate quartile deviation and coefficient of quartile deviation. Farm size (acre) No. of farms Below 40 394 41-80 461 81-120 391 121-160 334 161-200 169 201-240 113 241 and above 148

Asurvey was conducted to determine the age of 120 automobiles of such a survey is as follow: Age of 0-4 4-8 8-12 12-16 16-20 auto No. of autos What is the median age for the autos?

Astudy of 100 engineering companies gives the following information calculate standard deviationof the profit earned. Profit (in 0-10 10-20 20-30 30-40 40-50 50-60 lakhs) No. of comapnies

Write a note: Scatter diagram method

Calculate co-relation coefficient. x 43 21 25 42 57 59 y 99 65 79 75 87 81

Wr ite note: Probability sampling method.

1000 lights bulbs with a mean life of 120 days are installed in a new factory and their length of life is normally distributed with S.D. of 20 days. How many bulbs will expire in less than 90 days?

Write note: Non probability sampling method.