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NMIMS Global Access School for Continuing Education (NGA‐SCE)
Course: Business Statistics Internal Assignment applicable for December 2017 Examination
Assignment Marks: 30 Instructions:
All Questions All Questions carry equal carry equal marks. marks.
All Questions All Questions are compulsory
All answers to be explained in not more than 1000 words for question 1 and 2 and for and for question 3 in not more than 500 words for each subsection. Use relevant examples, illustrations as far as far as as possible. possible.
All answers All answers to be written individually. Discussion and group and group work is work is not advisable. not advisable. Students are free are free to refer to refer to any books/reference any books/reference material/website/internet for attempting for attempting their assignments, but are not allowed to copy the matter as it is from the source of reference.
Students should write the assignment in their own words. Copying of assignments from other students other students is not allowed. not allowed.
Students should follow the follow the following following parameter parameter for answering for answering the assignment questions. assignment questions.
For Theoretical Answer Assessment Parameter Weightage Introduction 20% Concepts and Application 60% related to the question Conclusion 20%
For Numerical Answer Assessment Parameter Weightage Understanding and usage 20% of the of the formula Procedure / Steps 50%
Correct Answer & Interpretation
30%
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:
Country Bangladesh
Time with Dad (minutes) 30
NMIMS Global Access School for Continuing Education (NGA‐SCE)
Course: Business Statistics Internal Assignment applicable for December 2017 Examination
Bhutan China Nepal Pakistan Nigeria Korea Russia India
46 54 50 46 42 46 42 50
For the above sample, determine the following measures: a.
The mean
b.
The standard deviation
c.
The mode
d.
The 75th percentile
Based on your calculations comment on the father-children relationship (10 Marks)
2. ‘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 (10 Marks) the results of the sample. Cups Sold 350 200 210 100 80 70 50
Temperature 50 60 70 80 90 100 110
a.
Which variable is the dependent variable?
b.
Compute the least squares estimated line.
c.
Is there a significant relationship between the sales of coffee and temperature?
e.
Predict sales of a 95 degree day.
NMIMS Global Access School for Continuing Education (NGA‐SCE)
Course: Business Statistics Internal Assignment applicable for December 2017 Examination
3. 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
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
Male
USD)
compensation
a.
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
Using descriptive statistics explore claim payment amounts, and identify factors that appear to influence the amount of the payment.
(5 Marks)
NMIMS Global Access School for Continuing Education (NGA‐SCE)
Course: Business Statistics Internal Assignment applicable for December 2017 Examination
b.
Do a correlation analysis between ‘Amount’ and ‘Age’ and interpreted the coefficient (5 Marks)
