ASSIGNMENT

Course Code : MS-08

Course Title : Quantitative Analysis for Managerial Applications

Assignment Code : MS-08/TMA/SEM-II/2019

Coverage : All Blocks

Note: Attempt all the questions and submit this assignment to the coordinator of your study

center on or before 31st October, 2019.

1. “Executives at all levels in business and industry came across the problem of making

decision at every stage in their day-to-day activities’’. Explain the statement along with

the advantages of quantitative approach to management.

2. “A good measure of central tendency should possess certain properties’’. What are these

properties. Name the various measures of central tendency. Explain any two of them in

brief.

3. What do you understand by the term correlation? Explain different types of association

between variables. Also, explain how the study of correlation helps in forecasting

demand of a product.

4. In a University, 30% of the students doing a course in statistics use the book authored by

A1 45% use the one authored by A2 and 25% use the one authored by A3. The proportion

of students who learnt about each of these books through their teachers are: A1= 0.50,

A2=0.30 and A3=0.20. One of the students selected at random revealed that he learnt

about the book he is using through his teachers. Find the probability that the book used is

authored by A2.

5. Suppose two makes of electric bulbs A and B are tested and observed. Bulbs of make A

exhibit mean life of 900 hrs. and standard deviation of 30 hrs. Those of make B show

mean life of 860 hrs. and standard deviation of 20 hrs. Find the probability that the mean

life based on a random sample of 40 bulbs of make A being, say, 28 hours less than the

mean life of bulbs of make B based on a random sample of 30 bulbs.