Business Statistics
Note for assignment solution:
Q1. Explain the calculation and utility of standard deviation and Bowley’s coefficient of skewness with one example for each. (Marks 10)
Q2. The student scores in an examination are 35, 30, 25, 26, 40, 44, 36, 54, 64, 65, 75, 60, 70, 85, 90, 92, 46, 52, 63, 52. The daily pocket money (in Rs.) for the same students (respectively) are 110, 110, 120, 140, 150, 140, 150, 210, 200, 140, 210, 240, 300, 260, 500, 270, 310, 550, 450, 500. Find the following: -
(a) Regression of scores on pocket money (4 marks)
(b) Regression of pocket money on scores (4 marks)
(c) Derive Pearson’s Correlation coefficient from the above two regression coefficients (2 marks).
Q3. (a) Explain Bayes’ Theorem with an example. What is the posterior probability in the same example? (5 marks)
Q3. (b) Two cards were drawn, without replacement, from a pack of 52 cards. What is the probability that they are both Kings? What is the probability for the same case if the cards were drawn with replacement? (5 marks)