MS-08: Quantitative Analysis for Managerial Applications
IGNOU Solved Assignments – Jan17
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- The net incomes of a sample of large importers of antiques were organized into the following table:
|Net income ($ millions)||Number of Importers|
|2 up to 6||1|
|6 up to 10||4|
|10 up to 14||10|
|14 up to 18||3|
|18 up to 22||2|
(a) What is the table called?
(b) Based on the distribution, what is the estimate of the arithmetic mean net income?
(c) Based on the distribution, what is the estimate of the standard deviation?
- The employees of Cartwright Manufacturing are awarded efficiency ratings based on such factors as monthly output, attitude, and attendance. The distribution of the ratings follows the normal probability distribution. The mean is 400, the standard deviation 50.
(a) What is the area under the normal curve between 400 and 482? Write this area in probability notation.
(b) What is the area under the normal curve for ratings greater than 482? Write this area in probability notation.
(c) Show the facets of this problem in a chart.
- Advertisements by Star Fitness Center claim that completing its course will result in losing weight. A random sample of eight recent participants showed the following weights before and after completing the course. At the .01 significance level, can we conclude that the students lost weight?
(a) State the null hypothesis and the alternate hypothesis.
(b) What is the critical value of t?
(c) What is the computed value of t?
(d) Interpret the result. What is the p-value?
(e) What assumption needs to be made about the distribution of the differences?
- What is time series analysis? Decompose a time series into its various components and describe them.
- What is a random variable? How is it used to define a probability distribution? Make the probability distribution of “scores facing up” in a throw of two dice.