AIMA GM03 Business Statistics Online Term End Exam Solution 2023

 

EXAM SOLUTION Available

AIMA EXAM TERM END

+91-9911899400 (What’s App Available)

 

 

WARNING - Clicking on the "SUBMIT ASSIGNMENT" button will submit the Assignment. Be sure that you have reviewed your answers before clicking it.

Attempt all the questions. All questions are compulsory. Each question carries 4 marks. There is No Negative Marking for wrong answer/s.

Please note: There are 25 questions out of which Q.No.21-25 are based on the Case Study.

Subject Code: GM03

Subject Name: BUSINESS STATISTICS

Component name: TERM END   

Assignment Start Date: 06/02/2023

Assignment End Date: 06/02/2023

 

Question 1:- Infant mortality rate in different states is best represented by:             

a)   histogram                       

b)   bar graph                       

c)   line chart                       

d)   All the above                       

 

Question 2:- The industrial growth during the past decade is best represented by:

a)   histogram                       

b)   bar graph                       

c)   line chart                       

d)   All the above                       

 

Question 3:- The depiction of data in the form of graphs and pictorial form is :        

a)   descriptive statistics                       

b)   inferential statistics                       

c)   both (a) and (b)                       

d)   None of the above                       

 

Question 4:- The average growth rate of economy is measured using:     

a)   arithmetic mean                       

b)   harmonic mean                       

c)   geometric mean                       

d)   All the above                       

 

Question 5:- The average age of employees in an organization is measured using:   

a)   arithmetic mean                       

b)   harmonic mean                       

c)   geometric mean                       

d)   All the above                       

 

Question 6:- The variance for the following data is 5,7,9,11,13,15,________.             

a)   14                       

b)   7                       

c)   3.741                        

d)   49                       

 

 

Question 7:- The variance for the following data is 7,9,11,13,15,17,______.             

a)   14                       

b)   7                       

c)   3.741                       

d)   49                       

 

 

Question 8:- Median is best way of measuring central tendency when:   

a)   data is skewed to left                       

b)   data is skewed to right                       

c)   both (a) and (b)                       

d)   data is symmetric                       

 

 

Question 9:- Describing data requires the knowledge of _________.        

a)   central tendency                       

b)   dispersion of data                       

c)   skewness                       

d)   All the above                       

 

Question 10:- Kurtosis of a data gives us__________.     

a)   the middle value                       

b)   the range of the data                       

c)   level of symmetry                       

d)   peakedness of data                        

 

Question 11:- A coin is tossed 10 times. What is the probability that 5 or more heads will appear?

a)   0.5                       

b)   0.623                       

c)   0.75                       

d)   0.363                       

 

Question 12:- A quality control inspector picks up 120 items from a box and the probability of defects is known to be 0.02. The number of defects is known to be binomially distributed. What is the expected number of defects that will be found?        

a)   2.4                       

b)   4.8                       

c)   2.352                       

d)   None of the above                       

 

Question 13:- A discrete variable is Poisson distributed with a mean of 4. What is the variance of this distribution ?            

a)   2                       

b)   8                       

c)   4                       

d)   None of the above                       

 

 

Question 14:- If a binomial distribution with n trials and probability of success is 0.5 then the distribution will be :         

a)   symmetric                       

b)   left skewed                       

c)   right skewed                       

d)   cannot say                       

 

Question 15:- A normal distribution is one where the distribution is_____.             

a)   symmetric                       

b)   skewness is zero                       

c)   kurtosis =3                       

d)   All the above                       

 

Question 16:- The area under a normal distribution with one standard deviation away on both sides of the mean is:     

a)   0.5                       

b)   0.68                       

c)   0.95                       

d)   0.975                       

 

Question 17:- The mean and standard deviation of a standard normal distribution is always ________.

a)   mean=0, sd=1                       

b)   mean=1, sd=0                       

c)   mean=1, sd =1                       

d)   mean=0 , sd =0                       

 

Question 18:- If one large sample is drawn from a population which is normal then the sample chosen will exhibit?     

a)   normal distribution                       

b)   skewed distribution                       

c)   exponential distribution                        

d)   cannot say                       

 

Question 19:- If all possible samples are drawn from a population and if the sample size is large then the distribution of the sample mean will be:     

a)   normal distribution                       

b)   skewed distribution                       

c)   exponential distribution                       

d)   cannot say                       

 

Question 20:- An F-Distribution is __________.  

a)   continuous distribution                       

b)   skewed distribution                       

c)   F value starts from 0 to goes upto infinity                       

d)   All the above                       

 

Case Study

The production manager of a firm which manufactures stamping of different sizes was concerned that there were variations in the size of hole that was being manufactured. He felt that vibrations in the machine is leading to such distortions. In order to check whether his machine is working properly he decided to run the machine and produce some pieces and take a sample to check the size of the hole that was being made. He had fixed the size of the hole to be 80mm in size. From a batch of production he selected 100 pieces at random and measured the size of the hole and found it to be on an average 80.7mm. He estimated that the standard deviation to be 0.88mm. It was clear that the production would not be acceptable if the size of the hole was either smaller or even bigger. He therefore hired a statistician to tell him if the production is OK for his specification based on the sample generated. The level of significance was decided to be 5%.          

 

Question 21:- Based on the above case the type of test would be________.             

a)   single tail                       

b)   two tail                       

c)   neither single or two tail                       

d)   cannot say                       

 

Question 22:- The test statistic that would be used by the statistician:    

a)   Z test                       

b)   t- test                       

c)   F-test                        

d)   Chi-square test                       

 

Question 23:- Standard error calculated for the above sample will be:     

a)   0.88                       

b)   0.0088                       

c)   0.088                       

d)   8.8                        

 

Question 24:- The critical value for the test statistic would be:    

a)   1.64                       

b)   1.28                       

c)   1.96                       

d)   2.58                       

 

Question 25:- The level of significance indicates:

a)   error of rejecting the true null hypothesis                       

b)   error of accepting a true null hypothesis                       

c)   no error at all                       

d)   None of the above