Download GTU (Gujarat Technological University) MBA (Master of Business Administration) 2018 Winter 1st Sem 3519906 Business Statistics Previous Question Paper

Seat No.: ________ Enrolment No.___________

GUJARAT TECHNOLOGICAL UNIVERSITY

MBA(PART TIME) ? SEMESTER 1 ? EXAMINATION ? WINTER 2018

Subject Code: 3519906 Date:01/01/2019

Subject Name: Business Statistics

Time: 10:30 AM to 01:30 PM Total Marks: 70

Instructions:

1. Attempt all questions.

2. Make suitable assumptions wherever necessary.

3. Figures to the right indicate full marks.

Q.1 Explain the terms

a) Mode

b) Histogram

c) Mutually Exclusive events

d) Independent Event

e) Auto correlation

f) Auto Regression

g) Time Series data

14

Q.2 (a) The radio music listener market is diverse. Listener for mats might include adult

contemporary, album rock, top 40, oldies, rap, country and western, classic, and

jazz. In targeting audience, market researchers need to be concerned about the

ages of the listener attracted to particular formats. Suppose a marketer researcher

surveyed a sample of 170 listeners of oldies stations and obtained the following

age distribution.

Age Frequency

15-under 20 9

20-under 25 16

25-under 30 27

30-under 35 44

35-under 40 42

40-under 45 23

45-under 50 7

50-under 55 2

I. What are the mean and modal ages of oldies listeners?

II. What are the variance and standard deviation of the age?s oldies listener?

07

(b) Discuss the four level of data measurement. 07

OR

(b) Define Statistics. Explain business applications of statistics. 07

Q.3 (a) A public interest group was planning to make a court challenge to auto insurance

rates in one of the three cities: A, B, or C. The prob. that it would select A was

0.40, B 0.35, and C is 0.25. The group knows that it had a 45% chance of a

favorable ruling if it chose A, 60% if it chooses B and 35% if it chose C. If the

group did receive favorer able ruling, what is the probability that public interest

group has choose city A, B or C.? Use your Knowledge of Bayes? theorem.

07

(b) The Asian currency crisis of late 1997 and early 1998 was expected to lead to

substantial job losses in US. The Economic Policy Institute estimated that the

mean number of job losses would be 126,681. Assume that the number of jobs

07

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1

Seat No.: ________ Enrolment No.___________

GUJARAT TECHNOLOGICAL UNIVERSITY

MBA(PART TIME) ? SEMESTER 1 ? EXAMINATION ? WINTER 2018

Subject Code: 3519906 Date:01/01/2019

Subject Name: Business Statistics

Time: 10:30 AM to 01:30 PM Total Marks: 70

Instructions:

1. Attempt all questions.

2. Make suitable assumptions wherever necessary.

3. Figures to the right indicate full marks.

Q.1 Explain the terms

a) Mode

b) Histogram

c) Mutually Exclusive events

d) Independent Event

e) Auto correlation

f) Auto Regression

g) Time Series data

14

Q.2 (a) The radio music listener market is diverse. Listener for mats might include adult

contemporary, album rock, top 40, oldies, rap, country and western, classic, and

jazz. In targeting audience, market researchers need to be concerned about the

ages of the listener attracted to particular formats. Suppose a marketer researcher

surveyed a sample of 170 listeners of oldies stations and obtained the following

age distribution.

Age Frequency

15-under 20 9

20-under 25 16

25-under 30 27

30-under 35 44

35-under 40 42

40-under 45 23

45-under 50 7

50-under 55 2

I. What are the mean and modal ages of oldies listeners?

II. What are the variance and standard deviation of the age?s oldies listener?

07

(b) Discuss the four level of data measurement. 07

OR

(b) Define Statistics. Explain business applications of statistics. 07

Q.3 (a) A public interest group was planning to make a court challenge to auto insurance

rates in one of the three cities: A, B, or C. The prob. that it would select A was

0.40, B 0.35, and C is 0.25. The group knows that it had a 45% chance of a

favorable ruling if it chose A, 60% if it chooses B and 35% if it chose C. If the

group did receive favorer able ruling, what is the probability that public interest

group has choose city A, B or C.? Use your Knowledge of Bayes? theorem.

07

(b) The Asian currency crisis of late 1997 and early 1998 was expected to lead to

substantial job losses in US. The Economic Policy Institute estimated that the

mean number of job losses would be 126,681. Assume that the number of jobs

07

2

lost is normally distributed with a standard deviation of 30,000. Find the

following probabilities.

1) the number of lost jobs between 80,000 and 150,000

2) the number of lost jobs will be greater than 150,000

3) the number of lost jobs will be greater than 130,000

4) the number of lost jobs between 130,000 and 140,000

OR

Q.3 (a) A company produces 10 personal computers knowing that 3 of them have

defective wiring. The company that purchased the computers is going to test the

2 of the computers. The purchasing company can detect the defective wiring.

Use Hyper geometric distribution to determine the probability that the

purchasing company will find the following?

I. No defective computers

II. Exactly two defective computers.

07

(b) Use the following time-series data to answer the given questions.

Time Period Value Time Period Value

1 27 6 66

2 31 7 71

3 58 8 86

4 63 9 101

5 59 10 97

1. Develop forecasts for periods 5 through 10 using 4-month moving

averages.

2. Develop forecasts for periods 5 through 10 using 4-month weighted

moving averages. Weight the most recent month by a factor of 4, the

previous month by 2, and the other months by 1.

07

Q.4 Use the following data and answer the mention questions

X 5 7 3 16 12 9

Y 8 9 1 27 15 13

(a) What is correlation? Explain different types of correlation with graphs. 07

(b) Calculate the coefficient of correlation for above given data. 07

OR

Q.4 (a) Establish a regression line using above given data. (Y = b0 + b1X) 07

(b) Estimate residuals using above given data. (Y ? ?) 07

Q.5 Use the decision table given here and answer below given questions.

(a) Use the maximax criterion to determine which decision alternative to select. 07

(b) Use the maximin criterion to determine which decision alternative to select. 07

OR

Q.5 (a) Use the Hurwicz criterion to determine which decision alternative to select. Let

?= 0.3

07

(b) Compute an opportunity loss table from the data. Use this table and a minimax

regret criterion to determine which decision alternative to select

07

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This post was last modified on 19 February 2020