Quantitative Analysis for Managerial Applications
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Q1. A manufacturer produces three products A, B and C which he sells in the market. Annual sale estimates (in units) are indicated as follows:
(i) If unit sale prices of A, B and C are Rs 2.25, Rs 1.50 and Rs. 1.75 respectively, find the total revenue in each market with the help of matrices,
(ii) If the unit costs of the above three products are Rs 1.60, Rs. 1.20 and Re 0.90 respectively, find the gross profit with the help of matrices.
2. Calculate the mean deviation from mean for the following table:
3. The incidence of a certain disease is such that on the average 20% of workers suffer from it. If 10 workers are selected at random, find the probability that (i) exactly two workers suffer from the disease (ii) not more than two workers suffer from the disease.
4. A normal curve has £g = 20 and „Ù= 10. Find the area between x1 = 15 and x2 = 40.
5. Explain the following concepts
a) Null & alternative hypothesis
b) One & two ¡V tailed test
c) Type 1 & type II error
d) Level of significance.
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