NMIMS Solved Assignment Business Statistics

 

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School for Continuing Education (NGA-SCE)

Course: Business Statistics

Internal Assignment Applicable for September 2020 Examination

 

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?

 

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.

 

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.

b. Determine the lowest stock that the company should maintain so that the probability of shortage is not higher than 5%.