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Management Programme
MS-08: Quantitative Analysis for Managerial
Applications
Q1. Comment on the statement “Statistics is the science and
art of handling aggregate of facts – observing, enumerating, recording,
classifying and other wise systematically treating them”.
Ans. “Statistics is the science which deals with the methods of
collecting, classifying, presenting, comparing and interpreting numerical data collected
to throw some light on any sphere of enquiry”
Collection of Data: Once the nature of study is decided, it
becomes essential to collect information in form of data about the issues of
the study. Therefore, the collection of data is the first basic step. Data may
be collected either from primary source or secondary or from both the sources
depending upon the objective/s of the investigation.
Q2. Calculate Spearman’s coefficient of ranks correlation
from the following data:
X : 53 98 95 81 75 61 59 55
Y : 47 25 32 37 30 40 39 45
Ans.
Q3. Suppose that a day’s production schedule calls for 9000
items. Three machines A, B and C each with a daily production capacity of 4000
have the probability that an item is defective on them as 1, 2 and 4 percent
respectively. On a given day 4000 items were produced on A, 4000 on B and 1000
on C. One item is selected at random and found defective. What is the
probability that it was produced on either A or B?
Ans.
Q4. Two types of batteries are tested for their length of
life and the following data are obtained:
No.
of Samples Mean
Life (Hrs.) Sample
Variance
Type A 9 600 121
Type B 8 640 144
Is there a significant difference in the two means? (t for 15
df at 5% level= 2.131)
Ans.
Q5. Write short notes on:
(1) Normal Distribution
(2) Level of significance
(3) Degree of freedom
Ans.
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