Question bank of Business Statistics 2017-Fall

Question bank of Business Statistics 2017-Fall

Published by: Nuru

Published date: 09 Jan 2022

Question bank of Business Statistics 2017-Fall

Level:  Bachelor Semester – Fall  Year: 2017
Program: BBA   Full Marks: 100
Course: Business Statistics

 

 

   Pass Marks: 45
  Time:  3hrs.

 

 

Candidates are required to give their answers in their own words as far as practicable.
The figures in the margin indicate full marks.

 

 

  Section “A”

 

Very Short Answer Questions

Attempt all the questions.

  

 

 

10×2
1. Describe the inferential Statistics briefly.  
2. Explain type I and type II errors briefly.  
3. Write down the area properties of normal distribution.  
4. Define the term, sample space, and an exhaustive number of events.  
5. What is a confidence interval? What do you understand by 95% confidence level?  
6. The time records of 11 students  to get ready for college is recorded(in minutes) as: 9,  8,  5,  10,  12,  15,  11,  10,  13, 12,  11. Find 3rd quartile and interpret it.  
7. A bag contains 4 black and 3 white balls. If two balls are drawn at random, what is the probability that both balls are each color?  
8. If the mean and mode of the data are 12 and 14 respectively. Find median.  
9. If a random sample of size 36 is drawn from a finite population of 400 units without replacement, then find the standard error of the sample mean, if population S.D is 10.  
10. The following data represents the bounced check fee in dollars for a

 

sample of

23 banks for direct-deposit customers.

26,  28,  20,  20,  21,  22,  25,  25,  18,  25,  15,  20,  18,  20,  25,  25,  22,  30,  30,  30,  15,  20,  29

i)                    Place the data into an ordered array.

ii)                  Set up the stem – and – leaf display for these data.

 

  
  Section “B”

 

Descriptive Answer Questions

Attempt any six questions

 6×10
11. a)       The records of the sales in a small grocery store for the 360 days that it opened during the year

 

Sales,(in$100s) Below 2 2-3 3-4 4-5 5-6 6-7 7-8 8 and above
Number of days 15 27 64 72 86 70 16 10

Days for which sales fall below $325 are classified as ’poor and those for which the sales exceed $775 are classified as ‘good’ days in 2002.

i.            Draw less than the cumulative frequency graph.

ii.            Use the graph to estimate the number of poor days.

iii.            Use the graph to estimate the number of good days.

b)      The hourly income of 320 workers of a company are given in the table as:

income(in Rs) Over 100 Over 120 Over 140 Over 160 Over 180 Over 200 Over220 Over240
No. of workers 320 295 250 190 105 50 20 20

Find:

i.            The lowest income of the top 25% of workers.

ii.            The median income of the workers.