Business Statistics
Business Statistics
BUSINESS STATISTICS
: Somalia
: BFIA01512010-2013019
: Mohamed Abdullahi Khalaf
INSTRUCTIONS
a) Students are required to submit all three assignment sets.
ASSIGNMENT
Assignment A
Assignment B
Assignment C
DETAILS
Five Subjective Questions
Three Subjective Questions + Case Study
45 Objective Questions
MARKS
10
10
10
b)
c)
d)
e)
Assignment B
-2-
Assignment C
1-10
11-20
15
21-30 31-40
25
10
41-50
51-60
61-70
Solution:
Marks(X)
1 10
11 20
21 30
31 40
41 50
51 60
61 70
Students (f)
5
15
25
10
6
5
4
N= 70
c.f.
5
20
45
55
61
66
70
-3-
Now we have to find the third quartile (Q3) and its formula is:
Q3
Median
= (Q3 + Q1 2 Median) / Q3 Q1
= 37.75 + 18.5 2 x 21 / 37.75 18.5
= 56.25 42 / 19.25
= 14.25 / 19.25
= 0.74
Therefore Bowley's Coefficient of Skewness = 0.74
-4-
-5-
Q: 3). A sample of size 50 has mean 20 and deviation 5. The value at highest
concentration point is 16. It was later discovered that an item 12 was misread
30, find the value of coefficient of skewness.
Solution:
Given: (N = 50, x = 20, = 5, and Mode=16)
We know that:
or
Corrected
Corrected
Also
Value of mode will not be changed as wrong item has no impact on the value of mode.
-6-
: 25
28
35
32
31
36
29
38
34
32
: 43
46
49
41
36
32
31
30
33
39
Solution:
S. No
1
2
3
4
5
6
7
8
9
10
N = 10
(i)
u=xA
Y
A= 32
43
-7
46
-4
49
3
41
0
36
-1
32
4
31
-3
30
6
33
2
39
0
v=yA
A= 38
5
8
11
3
-2
-6
-7
-8
-5
1
uv
-35
-32
33
0
2
-24
21
-48
-10
0
Regression Equation of y on x
(ii)
Regression Equation of x on y
-7-
u2
49
16
9
0
1
16
9
36
4
0
v2
25
64
121
9
4
36
49
64
25
1
Q: 5). The following table gives the ages of husbands and wives for 50 newly
married couples. Find the two regression equations. Estimate the age of
husband when the age of wife is 20 and the age of wife when the age of
husband is 30.
Age of husbands
Age of wives
Total
20 25 25 30 30 35
16 20
14
23
20 24
11
20
24 28
07
Total
15
25
10
50
Solution:
Step 1: Let age of Wives be denoted by X and age of Husbands by Y
Step 2: Calculation of
Computation table I showing the calculation of
Age of wives X
16 20
20 24
24 28
mx
18
22
26
dx = mx - 22
4
0
4
23
20
7
50
dx
92
0
28
= - 64
368
0
112
= 480
my
dy = my 27.5
dy
22.5
27.5
32.5
5
0
5
15
25
10
50
75
0
50
-8-
= - 25
375
0
250
= 625
180
9
0
6
0
4
180
Total
0
14
0
11
0
-
+5
Total
180
140
0
3
140
7
0
140
= 320
mx
Y
my
20-25
22.5
-5
25-30
27.5
0
30-35
32.5
+5
180
9
0
6
0
14
0
11
0
25
0
3
140
7
10
0
0
50
250
16-20
18
-4
20-24
22
24-28
26
15
-75
375
180
140
-92
368
180
20
28
112
140
N = 50
= - 25
=
625
320
N.B:
Step 3: Calculation of regression coefficient
-9-
23
- 64
= 480
= 320
Regression Line of X on Y
Step 6: Estimations
a) Age of Husband when age of Wife is 20
-10-
Q: 2). Find 4-yearly moving averages from the following time series data
Year : 1968
1969
1970
1971
1972
1973
1974
Production 30
45
39
41
42
46
49
(000 units)
Answer:
Years
1968
1969
1970
1971
1972
1973
1974
Production
(1,000 Units)
30
45
39
41
42
46
49
-11-
4- year moving
average
38.75
41.75
42
44.5
-
Q: 3). An urn contains 8 red, 3 white and 9 blue balls. If 3 balls are drawn at
random, determine the probability that (a) all 3 are red, (b) all 3 are white,
(c) 2 are red and 1 blue ball, (d) one of each colour is drawn, and (e) balls
are drawn in the order red, white and blue.
Solution:
a) P (3R) = n(R)/n(S)
P (3R) = 8/8+3+9
P (3R) = 8/20 = 2/5
P (3R) = 0.4
b) P (3W) = n(W) / n(S)
P (3W) = 3/8+3+9
P (3W) = 3/20
P (3W) = 0.15
c) P (B) = n(B) / n(S)
P (B) = 9/8+3+9
P (B) = 9/20
P (B) = 0.45
P (2R 1B) = P (R) * P (B)
P (2R 1W) = 2/5 * 9/20
P (2R 1W) = 6/100 = 0.18
d) P (1R 1W 1B) = P (R) * P (W) * P (B)
P (1R 1W 1B) = 2/5 * 3/20 * 9/20
P (1R 1W 1B) = 54/2000 = 0.027
e) P (balls are drawn in the order red, white and blue) =
= (8/20 x 7/19 x 6/18) + (3/20 x 2/19 x 1/18) + (9/20 x 8/19 x 7/18)
= 336/6840 + 6/6840 + 504/6840
= 14/285 + 1/1140 + 7/95
= 65/1140
= 0.12368
-12-
Case Study
The ranks of the same 16 students tests in Mathematics and Statistics were as
follows, the two numbers within brackets denoting the ranks of the same student in
Mathematics and Statistics respectively.
(1,1)
(2,10)
(3,3)
(4,4)
(5,5)
(6,7)
(7,2)
(8,6)
(9,8)
(10,11)
(11,15)
(12,9)
(13,14)
(14,12)
(15,16)
(16,13)
(A) Calculate the rank correlation coefficient for proficiencies of this group in
Mathematics and Statistics.
(B) What does the value of the coefficient obtained indicate?
(C) If you had found out Karl Pearsons simple coefficient of correlation between the
ranks of these 16 students, would your result have been the same as obtained in (A)
or different?
Solution: Let R1 and R2 Denote the ranks in Mathematics and Statistics respectively
A)
No of Std
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
N=16
R2
1
10
3
4
5
7
2
6
8
11
15
9
14
12
16
13
D= R1 R2
0
-8
0
0
0
-1
5
2
1
-1
-4
3
-1
2
-1
3
-13-
D2
0
64
0
0
0
1
25
4
1
1
16
9
1
4
1
9
=136
Therefore
= 0.8
B) The value of
= 0.8 shows that there is high degree positive correlation
between the variables ranks in Mathematics and Statistics.
C) Let x and y denote the ranks in Mathematics and Statistics respectively.
No of Std
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
N=16
x
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
y
1
10
3
4
5
7
2
6
8
11
15
9
14
12
16
13
xy
1
20
9
16
25
42
14
54
72
110
165
108
182
168
240
208
x2
1
4
9
16
25
36
49
64
81
100
121
144
169
196
225
256
y2
1
100
9
16
25
49
4
36
64
121
225
81
196
144
256
169
Horace Secrist
R. A. Fisher ()
Ya-lun-chou
L. R. Connor
Q: 2). If the quartile deviation of a series is 60, the mean deviation of this series is
abcd-
72 ()
48
50
75
range
mean deviation
standard deviation
quartile deviation ()
Q: 4). If the minimum value in a set is 9 and its range is 57, the maximum value of
the set is
abcd-
33
66 ()
48
none of the above
Q: 5). The range of values for the frequency distribution given in question 81 is
abcd-
2
10
8 ()
6
Q: 6). The range of the set of values, 15, 12, 27, 6, 9, 18, 21, is
abcd-
21 ()
4.5
0.64
3
-15-
Q: 7). For the data given in question 81, the coefficient of quartile deviation is
abcd-
4.385
0.228 ()
2.6
11.4
1.571
4.500
0.636 ()
0.222
zero degree ()
ninety degree
sixty degree
thirty degree
scale
origin ()
both origin and scale
neither origin nor scale
Q: 12). Let the coefficient of correlation be 0.7. then the coefficient of alienation is
abcd-
0.51
0.71 ()
0.49
none of the above
Q: 13). The number of categories in which the potential parameters of a model can
be specified are
abcd-
one
two
three
four ()
-16-
periodicity
amplitude
both (a) and (b)
neither (a) nor (b) ()
trend values
cyclic variations
seasonal indices ()
none of these
Q: 18). In ratio to trend method the median of the trend free indices for each period
represents
abcd-
Q: 19). Ratio to trend method for seasonal indices provides good results if
abcd-
-17-
Q: 21). The moving averages in a time series are free from the influences of:
abcd-
the trend ()
cyclic variations
irregular variations
all the above
trend
seasonal variations
irregular variations ()
all the above
actual changes
relative changes
per cent ratio changes ()
all the above
economic factors
non-economic factors
both (a) and (b) ()
neither (a) nor (b)
regular
cyclic
episode ()
all the above
-18-
linear
non-linear
S-shaped in a short duration ()
None of these
trend is known
trend is curvilinear
the value Y is not a function of time t
none of the above ()
rising trend
declining trend ()
stagnation
any of the above
Q: 31). To which component of the time series, the term recession is attached?
abcd-
trend
seasonal
cycles ()
random variation
infinity
zero
one ()
none of the above
Q: 33). In tossing three coins at a time the probability of getting at most one head is
abcd-
3/8
7/8
1/2
1/8 ()
Q: 34). The probability of two persons being born on the same day (ignoring date) is
abcd-
1/49
1/365
1/7 ()
none of the above
-19-
Q: 35). Three dice are rolled simultaneously. The probability of getting 12 spots is
abcd-
1/8
25/216 ()
1/12
none of the above
Q: 36). The probability of throwing an odd sum with two fair dice is
abcd-
1/16
1
()
1/7
2/7 ()
2/53
52/53
Q: 38). With a pair of dice thrown at a time, the probability of getting a sum more
than that of 9 is
abcd-
5/18
7/36
5/6
none of the above ()
Dependent
independent
mutually exclusive
none of the above ()
Q: 40). A group consists of 4 men, 3 women and 2 boys. Three persons are selected at
random. The probability that two men are selected is
abcd-
3/28
7/28
5/28
5/14 ()
-20-