Business Statistics-NMIMS Solution

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December 2017

Business Statistics-NMIMS Solution

You can buy nmims solution for Dec 17

Must read before purchase: You must edit approx 10-20 percent answer for avoid copy case.

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  1. The sample data from a research survey conducted in various countries on the amount of time 3-5 year-old children spent alone with their fathers each day is as follows:
  2. Country                               Time with Dad (minutes)Bangladesh                                        30

    Bhutan                                                 46

    China                                                    54

    Nepal                                                    50

    Pakistan                                              46

    Nigeria                                                 42

    Korea                                                    46

    Russia                                                   42

    India                                                     50

    For the above sample, determine the following measures:

    1. The mean
    2. The standard deviation
    3. The mode
    4. The 75th percentile

    Based on your calculations comment on the father-children relationship (10 Marks)

     

    1. ‘Prince’ a chaiwala at Mumbai Central station believes that the sales of tea at his tea shop depends upon the weather. He has taken a sample of a week’s data. Below you are given the results of the sample.

    Cups Sold                               Temperature

    350                                                        50

    200                                                        60

    210                                                        70

    100                                                        80

    80                                                           90

    70                                                           100

    50                                                           110

    1. Which variable is the dependent variable?
    2. Compute the least squares estimated line.
    3. Is there a significant relationship between the sales of coffee and temperature?
    4. Predict sales of a 95 degree day.

     

    1. According to one of the recent study published in an International report, the cost of medical malpractice in the United States is USD 55.6 billion a year, which is approximately 2.4 percent of US annual health-care spending. An earlier research report published in 2011, in the New England Journal of Medicine revealed that, during the period 1991 to 2005, 7.4 percent of all physicians licensed in the US had a malpractice claim. These staggering numbers not only contribute to the high cost of health care, but the size of successful malpractice claims also contributes to high premiums for medical malpractice insurance. The table below contains a sample of data set of claim payments made in a year’s time and other information about the claimant.
    Amount (in USD) Age Marital Status Insurance type Gender
    2 45 Single Private Male
    5 34 Married Medicare Male
    3.5 29 Married Private Female
    160 46 Single Workers compensation Male
    4 56 Married Private Female
    155 45 Single Private Female
    45 44 Married Medicare Male
    3 56 Single No insurance Male
    20 43 Single Private Male

     

    1. Using descriptive statistics explore claim payment amounts, and identify factors that appear to influence the amount of the payment.
    2. Do a correlation analysis between ‘Amount’ and ‘Age’ and interpreted the coefficient of correlation.

     

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