## March 24, 2012

### MB0040 [STATISTICS FOR MANAGEMENT] Set2 Assignments

Semester 1
MB0040 – STATISTICS FOR MANAGEMENT
(Book ID: B1129)
Assignment Set-2 (60 Marks)
1st Sem Spring/Fall Assignments

Note: Each question carries 10 Marks. Answer all the questions
1. (a) What are the characteristics of a good measure of central tendency? (b) What are the uses of averages?
2. Your company has launched a new product .Your company is a reputed company with 50% market share of similar range of products. Your competitors also enter with their new products equivalent to your new product. Based on your earlier experience, you initially estimated that, your market share of the new product would be 50%. You carry out random sampling of 25 customers who have purchased the new product ad realize that only eight of them have actually purchased your product. Plan a hypothesis test to check whether you are likely to have a half of market share.
3. The upper and the lower quartile income of a group of workers are Rs 8 and Rs 3 per day respectively. Calculate the Quartile deviations and its coefficient?
4. The cost of living index number on a certain data was 200. From the base period, the percentage increases in prices were—Rent Rs 60, clothing Rs 250, Fuel and Light Rs 150 and Miscellaneous Rs 120. The weights for different groups were food 60, Rent 16, clothing 12, Fuel and Light 8 and Miscellaneous 4.
5. Education seems to be a difficult field in which to use quality techniques. One possible outcome measures for colleges is the graduation rate (the percentage of the students matriculating who graduate on time). Would you recommend using P or R charts to examine graduation rates at a school? Would this be a good measure of Quality?
6. (a) Why do we use a chi-square test? (b) Why do we use analysis of variance?