Business Statistics — Summer 2025

Definitions of terms with explanations

Type Iand Type II Error

Skewness & Kurtosis

Mutually Exclusive Events

Data Measurement

List out Names of Parametric & Non-Parametric Test

Multivariate

Measures of Central Tendency

The Air Transportation Association publishes figures on the busiest airports in its country. The following frequency distribution has been constructed from recent year. No. of Passengers Arriving & Departing (in Millions) No. of Airports 20 under 30 30 under 40 40 under 50 1 50 under 60 0 60 under 70 70 under 80 1

Calculate Mean of these data

Calculate Mode

Calculate the Variance & Standard Deviation

Define Business Statistics and explain Applications of Statistics in Business with examples.

Aproblem of business statistics is given to five students, P Q R Sand T. Their chances of solving it are ½, ⅓ , ¼ , ⅕, and ⅙ respectively. What is the probability that the problem will be solved? and What is the probability that the problem will not be solved.?

The lifetime of certain kinds of electronic devices have a mean of 300 hours and standard deviation of 25 hours. Assuming that the distribution of these lifetimes, which are measured to the nearest hour, can be approximated closely with a normal curve.

Find the probability that any one of these electronic devices will have a lifetime of more than 350 hours.

What percentage will have lifetimes of 300 hours or less.?

What percentage will have lifetimes from 220 or 260 hours.?

Define Hypothesis and explain in detail steps of hypothesis

To test the significance of variation in the retail prices of a commodity in three principal cities, Mumbai, Kolkata and Delhi, four shops were chosen at random in each city and the prices who lack confidence in their mathematical ability observed in rupees were as follows: Mumbai : 16 8 12 Kolkata : 14 10 10 Delhi : 4 10 8 “Apply Ftest for the given data”

Two hundred randomly selected adults were asked whether TV shows as a whole are primarily entertaining, educational, or a waste of time. The respondents were categorized by gender. Their responses are given in the following table: Opinion Gender Entertaining Educational Waste of Time Total Female 52 28 30 110 Male 28 12 50 90 Total 80 40 80 200 Apply Chi Square test for suitable data

Properties of Binomial Distribution and Normal Distribution

In a random Sample of 1000 persons from UP 510 were found to be consumers of cigarettes. In another sample of 800 persons from Rajasthan, 480 were found to be consumers of cigarettes. Does the data reveal a significant difference between UP and Rajasthan so far as the proportion of consumers of cigarettes is concerned ?

Differentiate Parametric and Non Parametric Tests Q. 5 The following data relate to advertising expenditure (in Lakh) and their corresponding sales (in Crore). Advertising Expenditure 10 12 15 23 Sales 14 17 23 25 21

Calculate Simple Regression Line to fitting the data

Calculate the Standard Error of estimate of sales on advertising expenditure

What is Correlation.? Explain its Various types using the Scatter Diagram Method.

What are Regression Lines.? Explain with the help of examples its usefulness in business decision making.