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QT question paper and answer key

Quantitative Techniques (Mahatma Gandhi University)

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21100519

QP CODE: 21100519 Reg No

Name

B.Com DEGREE (CBCS)EXAMINATION, MARCH 2021

Third Semester

Core Course ¥ CO3CRT08 - QUANTITATIVE TECHNIQUES FOR BUSINESS- 1

(Common to all B.Com Degree Programmes)
2017 Admission Onwards

5EB782D4

Time: 3 Hours Max. Marks : 80

Part A
Answer any ten questions.
Each q uestion carries 2 m arks .

1. Write a short note on distrust of statistics.

2. Describe primary data .

3. Write a note on source note.

4. What do you mean by measure of central tendency?

5. The mean wages of 40 male workers in a factory is Rs. 100 and that of 60 female workers
in the same facto~,1~-f s. 80. Find the combined mean wages of 100 workers of the
factory. j.f~;¡0 ,0"1:.o ::: /?J-8-i' '
t .., ?. i ~J .J/ L/{cJ9 R( (iV_d:(, J/~_,i'jt
6. Calculate median: -12, 19, 8, 14, 3, 21, 13. á :i I r c~ --:J - -
7. Calculate Q3 and P75 from the following, .- IL 3
{,15 - --r1
24,33,42 ,38,45,62.~0.26,70,15,40,35,20,20,17,31 F7> -~ )

8. Write the formula for calculating Quartile deviation and its co-efficient.

9. Compute Standard Deviation; 6,5,4,8, 1O

10. Write a short note on co-efficient of variation.

11. Give the formula for Newton's method of advancing differences.

12. Write a short note on Extrapolation.

(1 Qx2=20)
Part B
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r
áx questions.
AnsweranY s1 k
. rries 5 mar s.
Each question ca

\
. t of statistics. . .
Write a short note on ongn and grow h . f tudents seeking admission
. rnonic details o s
t . soc10-eco
Draft a questionnaire for coII ec mg
for a diploma course. ampling.
. with stratified random s
15. Compare and contrast cluster sampling . t speeds 100,200,300and
¥th four d1fferen
16. An aero plane covered a distance of 1000 krn w1 f the distance . Find the average
400 km/hr for the first, second, third and fourth quarter o

speed in km/hr
t
17. Find arithmethic mean from the following diS ribUtion
Age(Year) 20 19 18 17 16 1514 13 12 11
No. of students 1 2 4 8 11 10 7 4 2 1

18. Locate median graphically

Marks
No. of Students
0-10 10-20
4 8
tm30-4
000cu 15

19. Explain the objectives of measuring dispersion.

20. The following table give the distribution of monthly wages of 1000 workers of a factory:
Wages (Rs) 20 40 60 80 100 120 140 160 180 200 220 240
No. of workers 3 13 43 102 175 220 204 139 69 25 6 1

21 . Given f(-1)= -1 , f(-2)= -9, f(2)=-11 and f(4)=69, what is f(O)?

(6x5=30)

Part C

Answer any two questions.

¬_ 1>)
(Ji__>(
Each question carries 15 marks .

22. Find the missing frequency from the data given below.if the arithmetic mean is 28
!Profits per shopl0-10 0-30 30-40 0-50 50-60 ¥
INoofshops !12 18 27 7 D
23. Calculate moments and also find out moment based skew nes s and kurtosis
jweight in gramsl/0-10110-20 20-30 30-40 40-":J0 50-60 60-70
/No. of mangoes ICIJ 12 20 30 11 10 5

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1111mm111111111

24. Calculate Karl Pearson's Measure of Skewness on the basis of Mean, Mode and
Standard Deviation.
15.5 16.5 17.5 18.5
35 40 48 100 125 43 22

25. The values of X and Y are given below:

~:,
Find the value of Y when X=10 by using Lagrange's method.

(2x15=30)

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I
7 B.Com DEGREE (CBCS) EXAMINATION , MARCH 2021

Third Semester Core Course - CO3CRT08 - QUANTITAT

BUSINESS-1 IVE TECHNIQUESFOR

(Common to all B.Com Degree Programmes) 2017 Admiáss 10

á n 0 nwards SEB782D4

Time: 3 Hours Max. Marks : BO

0-.,,--,
'
_,, /j__y Part A Answer any ~ questions. Each question carries 2 marks.

/0 f 1. Wcite ashoct note on dist,ust of statistics .

I
(0 'f., 7G/ 1 eJ) . of stat1st1cs,
-Já By distrust . . we mean lac~ of conf1denc~
. 1~. statistical
. statem8{1ts and
l _,, @ stat1st1cal methods. In other words, distrust of stat1st1cs implies that people look
:)._ } V á upon statistics with doubt and suspicion . '
_..- - ¥ Following are some remarks:
1.Statistics can prove or disprove anything.
2. There are three types of li~s : lies, damned lies and statistics .
¥ Following are the main reasons for distrust of statistics:
(i) Figures are manipulated by dishonest persons to present a wrong
picture of the facts.
(ii) People do not really know about statistics.

2. Describe primary data.

Primary data is a type of data that is collected by researchers directly from main
sources through interviews, surveys, experiments, etc. Primary data are usually
collected from the source-where the data originally originates from and are
regarded as the best kind of data in research.

3. Write a note on source note .

The source note indicates the specific source of the statistic . In general, the
source note refers the user to the original (or primary) source and gives credit to
the originating report, or in the case of new tabulations, the data file.

4. What do you mean by measure of central tendency?

A measure of central tendency is a single value that attempts to describe a set of
data by identifying the central position within that set of data . As such, measures I -

of central tendency are sometimes called measures of central location. They are
also classed as summary statistics. The mean, median and mode are all valid
measures of central tendency, but under different conditions, some measures of
central tendency become more appropriate to use than others.

5. The mean wages of 40 male workers in a factory is Rs. 100 and that of 60 female
workers in the same factory is Rs. 80. Find the combined mean wages of 100
workers of the factory.

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Meanwa ~ -
N 100 ---.c
Men 40
80
-
Female 60
Combined mean= N1X1 + NzXz
N1 , N2
= 40*100 + 60 *80
100
= (4000+4800)/100 = 8800/100 = Rs.88

6. Calculate median: -12, 19, 8, 14, 3, 21, 13.

Ordering th e data from least to greatest , we get:

3 8 12 13 14 19 21
. N+l I .
Me d tan:::;
2 t1 item
Here M = (7+1)/2 th item
= 4th item = 13

7. Calculat e Q3 and P75 from the following,

2~3~42,3~4~62,5~2~7~15,4~3~2~2~1~31

26 70 15 40 35 20 20 17 31
Input 24 33 42 38 45 62 50

Ascending 15 17 20 20 24 26 31 33 35 38 40 42 45 so 62 70
- order

Q3 = Mid value of second half of the ordered set:

\ 35 \ 38
40 42 45 so 162 170
1 1 1 1

Q3 = Mid of 42 & 45
= 42+ 3*0.5
= 42+ 1.5 = 43.5

Q3 & P75 are equal P75 = 43.5

8. Write the formula for calculating Quartile deviation and its co-efficient.
1
Quartile deviation: QD = CQ3; l
Coefficient of QD C.oeff icient of QD = (Ql-Ql)
(Q3+Ql)

9. Compute Standard Deviation; 6,5,4,8,10

SD=~ ---.----=------,- ~ =----

I I-0.6
x- X I(0.36
X- X)
2

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-1.6 2.56
-2.6 6.76
1.4 1.96
3.4 11.56

rx=33 Icx- X) 2
= 23.2

_ EX
x=-
N
= 33/5 = 6.6

SD= l<x:X)'
= = j´ = ,/4 .64 = 2.15 41

10. Writ e a short not e on co-efficient of variation .

Th e coefficient of variation (CV) is the ratio of the standard devi ation to the mean.
The h~ <;f_oefficient of variation, the greater the level of dispersion around the
mean. It is generally expressed as a percentage. Without units, it allows for
comparison betw een distributions of values whose scale s of measurem ent are not
compar a ble.

Standnrd deviation
Coefficient of variation= Mean X 100

11. Give the formula for Newton's method of advancing differences.

Y= f(x)= f(xo) + (x-xo) f(xo,x1) + (x-xo) (x-x1) f(xo,xi,x3) + (x-xo) (x-x1)

(x-xz) f(xo. x1, xz, x3)
01--::. 1.1 rx +- ,,c_[x -i) t,J 1-'tt - 1) (x-i) /!'.:,..J :t-- -x-(x --i)(x-i)C xj)6 ! +- _
c:/'0 (1 1 - 0 4-1 .
á 3 1
12. Write a short note on Extrapolation. '

Extrapolation is a statistical method beamed at understanding the unknown data

from the known data. It tries to predict future data based on historical data. For
example, estimating the size of a population after a few years based on the
current population size and its rate of growth .

13. Write a short note on orign and growth of statistics .

The origin of statistics can be traced back to the primitive man , who put notches
on trees to keep an account of his belongings. During 5000 BCE, kings used to

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. ces
of thestate.
carry out census ?f pop~l~t1ons and resou;ased on statistics ;; ~~f~"''i\ , i ,:',
Kin,': I
made their cr~c1al dec~s10ns on wa:~ of their enemies. Later it enhaZ'ect "\~
elephantary umts of their own a nd th d d inistrative domains . Thus, the 1
scope in their kingdoms' tax managemen_t an ,;tatus' or Italian word 'Statista' ~"
word 'Statistics' has its root either to Latm war ' l't' I state' The word
or German word 'Statistik' each of which means a pto I icaf facts ~nd figures
. . . d áth the presenta 10n o
'Statistics' was pnman 1y associate w1 . . 1 . tá prevailing in a
h' . and poht1ca s1tua 10ns
pertaining to d emograp ic,_ soe1a1 . f rmed the basis for most of the
state/government. Its evolut10n over time . o d I ntal phases of both
science and art disciplines. Statistics is use? m ~e
theoretical and applied areas, encompassing t e ie
/~I
~r~~ustry Agriculture,
'
Medicine, Sports and Business analytics. .. Later it was
In olden days statistics was used for pohtlcal- war .pu~pose. ' _
extended to taxation purposes. This is evident from Kaut1lya s ArthasaS t ra (324 .
300 BCE). Akbar's finance minister Raja Thodarmall collected mform~ti?n
regarding agricultural land holdings. During the seventeenth centur~, sta~1st1cs
entered in vital statistics, which is the basis for the modern day Actuanal Science.
Gauss introduced the theory of errors in physical sciences at the end of
eighteenth century . .
Statistics is used in two different forms-singular and plural. In plural form it
refers to the numerical figures obtained by measurement or counting in a
systematic manner with a definite purpose such as number of accidents in a busy
road of a city in a day, number of people died due to a chronic disease during a
month in a state and so on. In its singular form, it refers to statistical theories and
methods of collecting, presenting, analyzing and interpreting numerical figures.
Though the importance of statistics was strongly felt, its tremendous growth was
in the twentieth century. During this period, lot of new theories, applications in
various disciplines were introduced. With the contribution of renowned
statisticians several theories and á methods were introduced, naming a few are
Probability Theory, Sampling Theory, Statistical Inference, Design of
Experiments, Correlation and Regression Methods, Time Series and Forecasting
Techniques.

In early 1900s, statistics and statisticians were not given much importance but
over the years due to advancement of technology it had its wider scope and
gained attention in all fields of science and management. We also tend to think
statistician as a small profession but a steady growth in the last century is
impressive. It is pertinent to note that the continued growth of statistics is
closely associated with information technology . As a result several new inter-
dis~iplines have emerged . They are Data Mining, Data Warehousing, Geographic
Information System, Artificial Intelligence etc. Now-a-days, statistics can be
applied in hardcore technological spheres such a~ ioinformatics, Signal
processing, Telecommunications, Engineering, Medicine, Crim~ Ecology, etc.
Today's business managers need to learn how analytics can nel-p- ~
better decisions that can generate better business outcomes. They need to have -
an understanding of the statistical concepts that can help analyze and simplify
the flood of data around them. They should be able to leverage analytical
techniques like decision trees, regression analysis, clustering and association to
improve business processes.

14. Draft a questionnaire for collecting socio-economic details of students seeking

admission for a diploma course.

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tá

Title of Questionnaire
¥ Age:
¥ Gender:
¥ Religion & Caste:
¥ Annual Income of family
¥ Number of family members
¥ Education details of Parent/guardian
¥ Occupation of Parent/Guardian

15. Compare and contrast cluster sampling with stratified random sampling.

Cluster Sampling is a method where the target population is divided into multiple
clusters. Some of these clusters are selected randomly for sampling or a second
stage or multiple stage sampling is carried out to form the target sample. Depending
on the number of steps followed to create the desired sample, cluster sampling is
divided using a single-stage, two-stage or multiple stage sampling techniques. This
sampling method is extremely cost-effective as it requires minimum efforts in
sample creation and also convenient to execute .

Stratified Sampling is a probability sampling method, also called random quota

sampling, where a large population is divided into unique, homogeneous strata and
further, members from these strata are randomly selected to form a sample.
Elements of each of the samples will be distinct which will give the entire population
an equal opportunity to be a part of these samples. Segregation on the basis of age,
religion, nationality, socioeconomic backgrounds, qualifications etc. can be done
using this sampling technique.

Factors for Cluster Sampling Stratified Sampling

Comparison
Members of this sample are chosen Members of this sample are
from naturally divided groups called randomly chosen from non-
Definition clusters, by randomly selecting overlapping, homogeneous
elements to be a part of the sample. strata.
Cost reduction and increased Enhanced precision and
Purpose efficiency. population depjction.
Selection of the sample is done by Selection of the sample is
randomly selected clusters and done by randomly selecting
Sample selection including all the members from these members from various
clusters. formed strata.

Selection of Distinctively
elements that form Conjointly
a Sample
Naturally formed Depends on the researcher
Division type
Externally, between various
Heterogeneity Internally, with the clusters strata
Externally, between various clusters Internally, with the strata
Homogeneity

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.....
16. An aero plane covered a distance of 1000 km with four different speeds 10 0 .~ \, .
and 400 km/hr for the first, second, third and fourth quarter of the distance. Pinct
the average speed in km/hr

Distance travelled= 1000 Km

Speed Distance (1/X; )W;
Quarter
Km/hr Km (w)
(x;l
250 250/100=2 .5
1 100

200 250 250/200=1 .25

2
250 250/300=0.83
3 300
400 250 250/400=0 .625
4
Total - 1000 5.205

Harmonic mean= ~"\

Li=1 .ri-wi

= 1000/ (2.5+ 1.25+0 .83+0 .625)

= 1000/5.205 = 192 .123

17. Find arithmethic mean from the following distribution

Age No. of students fx

fxl [fl
20 1 20
19 2 38
18 4 72
17 8 136
16 11 176
15 10 150
14 7 98
13 4 52
12 2 24
11 1 11
Total N-50 777

.h . l.{X
A nt nietr.c Mean= --
N
= 777 /SO

= 15.54

18. Locate median graphically

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Class of No. of Cumulative Less than Cf More than Cf

Marks students f fre quenc v
0-10 4 4 Less than 4 More than 59
10
0
10 -20 8 12 Less th a n 12 10 55
20
20-30 11 23 23 20 47
30
30-40 15 38 40 38 30 36
40-50 12 so so so 40 9
50-60 6 56
60-70 3 59
60 56
- so 3
- 70 59 60 0

Median
70

60

so

40

30

20

10

lS 2S 3S 4S ss 65

- Series! - Series.2

By plotting less than and more than ogive in x-y plain we get median, which is
the intercepting point of two ogives. Here it is between 25 and 35 and can find
the median by observation.
Median = 34.33

19. Explain the objectives of measuring dispersion.

Dispersion is the state of getting dispersed or spread. Statistical dispersion means

the extent to which a numerical data is likely to vary about an average value. In
ot her words, dispersion he lps to unde rstand the distribution of th e data.
1 To find th e average distance of the items from an average.

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f ~lb:

'
2 To know the structure of the series.

3 To gauge the reliability of an average . When t he dispersion is small, the ' .

average is reliable. ,,

4 To know the limits of the items .

á á11ty
5 To serve as a basis for control of the vanab1 á Iát se Ifá

. wit. h re gard to th eir variability .

6 To compare two or more series

-
2o.l\eJpijowtngtablep1mttiitim;16ut10nof miijttb1Y:WBRC&of ijmo.workers of

Award full mark if attended, as the given question is incomplete.

l

Award full mark, if attended.

22. Find the mi.ssing frequency from the data given below, if the arithmetic mean is 28

Profit per sho o No. of shops (fl Mid value (ml Fm

0-10 12 5 60
10-20 18 15 270
20-30 27 25 675
30-40 X 35 35x
40-50 17 45 765
50 -60 6 55 330
N= 80+ x 'i:.fm =2100+35x

Arithmetic Mean= --
"I.Im
N
Here Arithmetic mean= 28
28 = 2100-1-35.r
80+.r

28(80+x) = 2100+35x
2240+28x = 2100+35x

35x-28x = 2240-2100
7x = 140
X= 20

Ie, the missing frequency is 20.

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ents a nd also find out moment based skewness and kurtosis

/a te rno rn
t c~icu
------ á~value f fáx (x-áx} fá(x--x} fá(x-
c1ass (xl áx12 fá(x-áx)3 fá(x-áx}4

5 8 40 -28.2 á225.6 6361.92 5059253 .26:

O - 10 179406 .14
Oct-20 15 12 180 á18.2 -218.4 3974.88 1316639 .25:
72342.816
1
20 á 25L 20 500 á8 .2 -164 1344.8 90424.352
á11027 .36
30
30 á 35 30 1050 1.8 54 97.2 174.96 314.928
40
40- 15 675 11.8 177 2088 .6 24645.48 290816.664
45
50
50 - 10 550 21.8 218 4752.4 103602.32 2258530.571
55
60
60 á 5 325 31.8 159 5056.2 160787 .16 5113031.68!
65
70

n-100 ~J-x-3320 0 23676 26433.6 14129010 .7:

Lf{XHI')'
rth Sample Moment about Mean mr = N

3320
x =-- = 33.20
100
:E /(;!;Hr)'
First moment m1 ¥ N

=~¥ 10=0
100

:E /()l;HC)'
Second moment m2 = N

23676
(Variance) 100

= 236.76

:E fC,xi-K)'
Third moment m3 N

u;+J.3.A;
(Skewness} 100

= 264.336
E ,cx,-r>¥
Fourth moment m3 = N

1+129010.n
(Kurtosis) 100

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= 141290.1072

Moment coefficient of skewness is denoted by Pt

2
264.336
= 0.00526
: 236 .761

Moment coefficient of Kurtosis is denoted by P2

P2= "'i
"';

141290 .1072
236.762 : 2.520549

P2< 3, distribution is platykurtic.

24. Calculate Karl Pearson's Measur e of Skewness on the basis of

Mean, Mode and Standard Deviation.

Mean-Mode
Karl Pearson's coefficientofs.k.eWDes
Standard deviation

X f Xf mean x , -:i (x; -.:i)z /(x ; -.:i)z

14 .S 35 507.S 18.06 6 -3.566 12.71636 445.0725
15 .S 40 620 18.066 -2.566 6.584356 263.3742
16.5 48 792 18.066 -1.566 2.452356 117.7131
17.S 100 1750 18.066 -0.566 0.32035 _6 32.0356
18.S 125 2312.5 18.066 0.434 0.188356 23.5445
19.5 87 1696.5 18.066 1.434 2.056356 178.903
20.5 43 881.5 18.066 2.434 5.924356 254.7473
21.5 22 473 18.066 3.434 11.79236 259.4318
Total 500 9033 1574.822

Mean= 'I:.tz
r.,
= 'Xl33
500 = 18 . 066

Mode is the value of x belongs to highest frequency,

here mode Z= 18.5

l:]'-- 1 f(zi - z1 2
SD=
n-1

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-~=
- 499 1776
.
"" ,;oo-1

Mean-Mode
Karl Pearson's coefficient of skewnes
Standard deviatio11

18.066-IB . S
1.n6

-0.44
1.776

-0.247

25. The values ofX and Yare given below:

Find the value ofY when X=lO by using Lagrange'smethod.

Xo= 5 Yo=12
X1 = 6 Y1= 10
X2= 9 Y2= 14
X3= 11 Y3= 16
X= 10, y =?

(10- 6)(10-9)(10- 11) (10- S)(10- 9)(10- 11)

12
y =/(lo)= (S - 6)(S- 9)(S-11) (6 - S)(6 -9)(6-11) lO +
(10-5)(10- 6)(10-11) (10- 5)(10-6)(10-9)
+ -'----'-----'----- 14 + ..:.__ _:_::;___~:_-~ 16
(9- 5)(9- 6)(9-11) (11- 5)(11- 6)(11- 9)

y = /(10) = 12 + 10 + s.+ .-l 14 + SAi 16

-1.-4 .-6 1.-3.-5 +.3.-2 6.5.2

=-=!.
-24
12+ 2 10+
15
-20
-24
14 +~ 16
60

=
3
= 1S.66
*************************************************
*****

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