Business Statistics NMIMS Solved Assignments April 2022

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Business Statistics NMIMS Solved Assignments April 2022

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Business Statistics NMIMS Solved Assignments April 2022

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Description

NMIMS Global Access

School for Continuing Education (NGA-SCE)

Course: Business Statistics

Internal Assignment Applicable for April 2022 Examination

 

Assignment Marks: 30

 

Instructions:

 All Questions carry equal marks.

 All Questions are compulsory

 All answers to be explained in not more than 1000 words for question 1 and 2 and for

question 3 in not more than 500 words for each subsection. Use relevant examples,

illustrations as far as possible.

 All answers to be written individually. Discussion and group work is not advisable.

 Students are free to refer to any books/reference material/website/internet 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 is not allowed.

 Students should follow the following parameter for answering the assignment questions.

 

1. The table mentioned below shows the “Gross Production of Energy by Two Sources in

India from 2010-11 to 2015-16”.

Adopt Exponential Smoothing Method. Consider the Alpha (α) values 0.2, 0.5, 0.7 and

find out the one that is comparatively good for the prediction.

Forecast the value for year 2016-17.

Year Coal – (Million Tones) Lignite – (Million Tones)

2010-11 532.7 37.73

2011-12 539.95 42.33

2012-13 556.4 46.45

2013-14 565.77 44.27

2014-15 609.18 48.27

2015-16 639.23 43.84

Source: Open Government Data (OGD) Platform India

(10 Marks)

2. Consider the following Decision alternative for the Raman Pahwa, he wants to invest in

stocks, and thought about two situations about tomorrow’s market condition. The figures

(in INR) in the following table exhibit profit per unit of stock-investment.

payoff table:

Favorable market Unfavorable market

Lakshmi pvt ltd 55 26

Mehta Groups of industries 43 38

Surya 29 43

LT energy 15 51

1. Draw the decision tree

2. If we assign the following probabilities to the states of nature, then determine the

EMV decision.

P(s1) = .4 P(s2) = .1 P(s3) = .3 P(s4) = .2

3.a. The proportion of eligible voters in the next corporation election (in tumkur) who will vote

for the incumbent is assumed to be 55%. What is the probability that in a random sample of

500 voters less than 49% say they will vote for the incumbent? Write your conclusion.

(5 Marks)

3.b. The top-selling Amar tire is rated 70,000 KMs, which means nothing. In fact, the distance

the tires can run until they wear out is a normally distributed random variable with a mean

of 82,000 KMs and a standard deviation of 6,400 KMs.

What is the probability that a tire wears out before 70,000 KMs?

What is the probability that a tire lasts more than 100,000 KMs?

Note: You may use Z-table for this.

Z-table link- Normal Table.xls

(5 Marks)

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