Business Statistics June 2018 Assignment

29 Mar

Business Statistics

1. The sample data from a research survey conducted in various cities on the amount of time 13-15 year-old children spent with mobiles are as follows:

City Time with mobiles

(hours per week)

Hyderabad 46
Mumbai 50
Pune 46
Bangalore 54
Bhubneshwar 42
Indore 30
Bhopal 42
New Delhi 50
Chandigarh 46

For the above sample, determine the following measures:

i. The mean

ii. The standard deviation

iii. The mode

iv. The 75th percentile

Based on your calculations comment on the time spent on mobile.

2. ‘Mumbai Ice Cream an ice cream store gives relationship between ice cream sold and temperature. The store has taken a sample of a week’s data. Below you are given the results of the sample

Day Cones Sold Temperature
1 350 110
2 200 100
3 210 90
4 100 80
5 80 70
6 70 60
7 50 50

i. Which variable is the dependent variable?

ii. Compute the least squares estimated line.

iii. Is there a significant relationship between the sales of cones and temperature?

iv. Predict sales of a 95 degree day.

3. According to one of the recent study conducted by an academic researcher on international placement of students from leading institutes in India there is a high variation in the salary offered by institutes. The following details have been gathered from the placement institute of the colleges. The researcher wants to understand the trends with regard to international placement based on the data he has gathered.

Amount (in USD in lakhs per annum ) Age Marital Status Type of institute Gender
2 35 Single University Male
5 24 Married PGDM Male
3.5 29 Married University Female
5 26 Single University Male
4 26 Married PGDM Female
8 25 Single PGDM Female
15 34 Married PGDM Male
3 26 Single PGDM Male
7 23 Single PGDM Male

a. Using descriptive statistics explore salary, and identify factors that appear to influence the amount of the salary received.

b. Do a correlation analysis between ‘Amount’ and ‘Age’ and interpreted the coefficient of correlation.

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