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Business
Statistics
1. The sales figures of two firms (in million Rs.)
calculated over a period of time are as follows:
Firm A 120 100
110 80 90
70 50 60
40
Firm B 50 40
60 90 80
70 110 100
120
a. Find mean and standard deviation of both the firms and
interpret the same.
b. Which firm has better performance? How do you analyze the
performance in this case?
c. If you need to invest in a firm then which firm would you
choose and why? (10 Marks)
1. (a) Mean - For a data set, the
arithmetic mean, also called the expected value or average, is the central
value of a discrete set of numbers: specifically, the sum of the values divided
by the number of values.
2. The Manager wants to fix income of employees for
production department. The past data on 8 incomes with the experience is shown
below
Experience (in years) 10
12 6 7
10 8 1
5
Income (in thousands)
25 28 17
18 24 21
10 16
a. Find the correlation between the experience and income.
b. Determine the coefficient of determination and interpret
it.
c. Estimate the monthly salary for a person having 14 years
of experience by assuming the linear relation between the two variables. (10
Marks)
Sol:
2. (a) Correlation shows the relationship between two
variables.
Correlation is Positive when the values increase together,
and
Correlation is Negative when one
3. The weekly demand of a cell phone shop is following the
normal distribution with average number of cell phones sold is 200 units and it
has also been found that 90% of time the demand is lying less than 220 units.
a. Using this information find the standard deviation of the
distribution. (5 Marks)
b. Determine the lowest stock that the company should
maintain so that the probability of shortage is not higher than 5%. (5 Marks)
Ans :
3.
(a) The following information is given by the sum: The weekly demand of a cell
phone shop is following the normal
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