Quantitative Applications in management & research
1 Comment on “Quantitative Techniques is a scientific and for enhancing creative and judicious capabilities of a decision maker”, also state the different elements of Decision.
2. The raw data displayed here are the scores (out of 100 marks) of a market survey regarding the acceptability of a new product launch by a company for a random sample of 50 respondents
a. Form a frequency distribution having 9 class intervals
b. Form a percentage distribution from the frequency distribution (from part a)
c. Form a histogram, frequency polygon and frequency curve of the frequency distribution
(From part a)
3 Compute the mean, standard deviation and Coefficient of variation of the following data and comment on the result
4. Following figures give the rainfall in inches for the year and the production in 00‟ of Kgs. For the Rabi crop and Kharif crop. Calculate the Karl Pearson‟ s coefficient of correlation, between rainfall and total production and comment on the result.
5. The marks obtained by Nine students in Physics and Mathematics are given below:
Marks in Physics: 35 23 47 17 10 43 9 6 28
Marks in Mathematics: 30 33 45 23 8 49 12 4 31
Compute their ranks in the two subjects and coefficient of correlation of ranks.
1. i. Define Binomial, Poisson and Normal distribution.
2. The following table gives the aptitude test scores and productivity indices of 10 workers selected at random:
Aptitude scores(X) 60 62 65 70 72 48 53 73 65 82
Productivity index(Y) 68 60 62 80 85 40 52 62 60 81
Calculate the two regression equations and estimate
a. The productivity index of a worker whose test score is 92
b. The test score of a worker whose productivity index is 75
3 Discuss the different components of a time series and fit a trend line with the help of following data by using Free hand curve method and Semi-averages method:
Year 1993 94 95 96 97 98 99 2000 01 02 03 04
Profit 10 12 16 8 6 14 15 10 14 20 13 18
(Rs. in lakhs)
CASE STUDY
The Department of Environment has theorized that pollution levels are higher in winter (I & IV Quarter) than summer (II & III Quarter) and that they are increasing over the years. The following data was collected:
Quarter I II III IV
1996 293 246 231 282
1997 301 252 227 291
1998 304 259 239 296
1999 306 265 240 300
1. A sequence of interrelated decisions made either simultaneously or over several time periods called dynamic decisions.
a. dynamic decisions
b. static decisions
c. Both
d. None
2. Stocking of an item for sale in a certain trade fair, illustrates a
a. Static decision
b. Where uncertainly exists
c. Nature is opponent.
d. All of above
3. Quantitative analysis is also called
a. Operations research
b. Management science
c. Quantitative techniques
d. All the above
Ques.4 Quantitative research provides the fundamental connection between
a. empirical observation and mathematical expression
b. empirical observation and qualitative expression
c. empirical observation and social expression
d. empirical observation and all expression
5. Most of the business decisions can be made on the basic of
a. Rule of thumb
b. Commonsense
c. Snap judgment.
d. Quantitative Techniques
6. Statistics is a branch of
a. applied physics
b. applied mathematics
c. applied commerce
d. Dramatics
7. The mean of 7, 12, 24, 20, 19 is
a. 14
b. 16
c. 15.4
d. 16.4
8. ∑ (X/c) =
a. ∑ (X)/n c
b. ∑ (X)/∑ c
c. ∑ (X)/c
d. X/c.
9. Midterm exam scores for a small advanced neuroanatomy class are provided below.
Scores represent percent of items marked correct on the exam.
87,99,75,87,94,75,35,88,87,93
The mode of the distribution
a. 75
b. 87
c. 88
d. 94
10. Which measure of Central tendency is most efficient?
a. Mean
b. Median
c. Mode
d. All are equal
11. Mean Deviation can be calculated from
a. Mean
b. Median
c. Mode.
d. All the three
12. Qualitative data are
a. Non-numeric
b. Numeric
c. Can be both
d. None
13. The numeric data that have a finite number of possible values is called
a. Continuous data
b. Discrete data
c. Datum
d. None
14. The Coefficient of Variance is expressed as
a. CV = .S. X 100
Xmean
b. CV = .S.
Xmean
c. CV =. Xmean.X 100
S
d. CV = (X - Xmean)
15. Which one is unaffected by extreme scores
a. Mean
b. Median
c. Mode
d. Range
16. A storeowner kept a tally of the sizes of suits purchased in her store. Which measure of central tendency should the storeowner use to describe the average suit sold?
a. Mean
b. Median
c. Mode
d. None
17. The correlation coefficient, r = -1, implies
a. Perfect negative
b. Perfect positive
c. No correlation
d. Limited correlation
18. If two variables changes in the opposite direction and in the same proportion, the correlation between the two is
a. Perfect positive
b. Limited positive
c. Limited Negative
d. Perfect negative
19. The value of „ r‟ gives the magnitude of correlation and its sign denotes its
a. Value
b. Direction
c. Both
d. None
20. By the Rank method the value of R is -0.73 it suggests a
a. fairly strong negative relationship
b. fairly strong positive relationship
c. Perfect negative
d. Perfect positive
21. The range of the correlation coefficient is?
a. -1 to 0.
b. 0 to 1.
c. -1 to 1.
d. None of the above.
22. When looking at a sequence of monthly postal revenue data, we note that the revenue is consistently highest in December. The high December revenue is an illustration of:
a. trend
b. seasonal variation
c. irregular fluctuations
d. a cycle
23. Which of the following is NOT an assumption of the Binomial distribution?
a. All trials must be identical.
b. All trials must be independent.
c. Each trial must be classified as a success or a failure.
d. The probability of success is equal to .5 in all trials.
24.In Regression Analysis the independent variable is also known as
a. Regressed variable
b. Regressor variable
c. Random variable
d. All of the above
25. Given that we have collected pairs of observations on two variables X and Y, we would consider fitting a straight line with X as an explanatory variable if:
a. the change in Y is an additive constant.
b. the change in Y is a constant for each unit change in X
c. the change in Y is a fixed percent of Y
d. the change in Y is exponential
26. In Regression Analysis, a single regression line is obtained in case if
a. r = +1
b. r = -1
c. r = +1
d. r = 0
27. The regression Analysis Studies
a. one-way causal effect
b. two-way causal effect
c. interdependence of the variables
d. dependence of the variables
28. Correlation Coefficient is the ---------------between the regression coefficients
a. arithmetic mean
b. geometric mean
c. harmonic mean
d. median
29. Gradual shifting of a time series over a long period of time is called
a. periodicity.
b. cycle.
c. regression.
d. trend.
30. The trend component is easy to identify by using
a. moving averages
b. exponential smoothing
c. regression analysis
d. the Delphi approach
31. Seasonal components
a. cannot be predicted.
b. are regular repeated patterns.
c. are long runs of observations above or below the trend line.
d. reflect a shift in the series over time.
32. What probability is shown on the Venn diagram by the shaded region below t probability is shown on the Venn diagram below
a. p(A)
b. p(B)
c. p(A and B)
d. p(not B)
33. At Sanjay Middle School, 3 out of 5 students make honor roll. What is the probability that a student does not make honor roll?
a.65%
b. 40%
c. 60%
d. None of the above
34. In a class of 30 students, there are 17 girls and 13 boys. Five are A students, and three of these students are girls. If a student is chosen at random, what is the probability of choosing a girl or an A student?
a. 19/30
b. 11/50
c. 12/30
d. 15/40
35. In a shipment of 100 televisions, 6 are defective. If a person buys two televisions from that probability that both are defective?
a. 3/100
b. 1/330
c. 9/2500
d. 6/100
36. Find the correlation coefficient r(X, Y) between X and Y,when
Cov(X,Y) = -2.45, Var (X) = 8.25 and Var (Y) = 21.49
a. 0.18
b. – 0.18
c. 0.36
d. – 0.36
37. A coin is tossed 5 times. What is the probability of getting atleast 3 heads?
a. 1/2
b. 1/3
c. 1/4
d. 1/5
38. Normal Distribution is symmetrical about its
a. Harmonic mean
b. Mean
c. Range
d. Standard deviation
39. In Normal Distribution 95% of the observations fall within 2 standard deviations of the mean, that is, between
a. µ - σ and µ +σ
b. µ - 2σ and µ +2σ
c. µ - 3σ and µ +3σ
d. Not defined
40. Condition for the Applicability of Binomial Distribution:
a. There should be a finite number of trials.
b. The trials do not depend on each other.
c. Each trial should have only two possible outcomes, either a success or a failure.
d. All of the above
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University: AMITY Year: 2015