Section A (20 Marks)
Write short notes on any four of the following:
1. Twoperson Zerosum Game
2. Properties of Markov Models
3. Methods of Sampling
4. Comparison of 3 M's of Statistics
5. Kinds of Averages
Section B (30 marks)
(Attempt any three)
1. What are the key drawbacks of collecting data from secondary sources?
2. IBM Computers (I) Ltd. has been entrusted with the responsibility of developing a relationship between number of employees and salary structure in Arian Pharmaceuticals Ltd. The statistics manager, Mr. Ayyar has collected the following data. Draw the frequency distribution and superimpose frequency polygon and frequency curve on it.
Salary

No. of Employees

Salary

No. of Employees

300400

20

700800

115

400500

30

800900

100

500600

60

9001000

60

600700

75

10001200

40

3. Illustrate the concept of multiple regression analysis.
4. State the difference between the conceptual and mathematical model of forecasting.
Section C (50 marks)
(Attempt all questions. Every question carries 10 marks)
Read the case “Cost & Revenue Calculation” and answer the following questions:
Cost & Revenue Calculation
A switch manufacturer finds that his total monthly production costs are ` 10,600 when production is 16,000 units per month, ` 17,800 when it is 26,000 units and ` 27,000 when the production is 36,000 per month. He can sell 16,000 units per month at ` 104 each, but has to reduce the price to ` 94 each in order to sell 26,000 pieces. He can sell 36,000 pieces only at ` 80.
Questions:
Assuming that both cost curve and price curve are quadratic, find
1. the monthly total cost and the price,
2. the monthly revenue and
3. the monthly gross profit as functions of the quantity sold.
Find also
4. the quantity sold,
5. the price and the monthly revenue at the breakeven point and confirm that the monthly total cost is then equal to the monthly revenue.