Part 3) Run regression analysis in EXCEL (copy all those tables from EXCEL and paste them in your document)

29 Mar

Decision Science


1. Three airlines serve a Srinagar. Airline ‘Amira’ has 50% of all the scheduled flights, airline ‘Biyas’ has 30%, and airline ‘chinar’ has the remaining 20%. Their on-time rates are 80%, 65%, and 40%, respectively.

Part 1) Draw the Probability tree diagram. (Note: You may use any software for this, like MS paint, MS office, etc.)

Part 2) A plane has just left on time. What is the probability that it was airline ‘Amira’?

2. Rashmi Dhar, manufacturer, and seller of ‘Kashmiri- kahwa’ through E-commers websites.

She wanted to know the effect of her spending in advertisement of ‘Kahwa’ on the sales, along with the other factors; ‘number of sales representatives’, ‘customer-satisfaction ratings’. For this research she has gathered the sales data in the following table, along with other necessary information.

Part 1) Define dependent and independent variables

Part 2) Write regression model equation only.

Part 3) Run regression analysis in EXCEL (copy all those tables from EXCEL and paste them in your document).

Part 4) Write the Interpretation of Regression statistics-table, ANOVA- table.

Write an interpretation (by referring P-value/ t-stat) on significant effect of independent variables on sales.



Sales of Kahwa (in INR) Spending in advertise (in INR) Number of sales Representatives (person) Customer-satisfaction ratings (1=highly dissatisfied to 5 = highly satisfied
Kupwara 55328 5512 1 1
Badgam 56251 8337 1 1
Leh-ladakh 57126 8788 4 1
Kargil 58739 8828 5 1
Punch 66984 9050 5 2
Rajouri 70676 10150 7 2
Kathua 73206 11236 8 2
Baramula 80571 12538 8 3
Bandipore 93168 13161 8 3
Srinagar 99432 13448 9 4


3.a. According to one survey in India, 75% of Instagram users love REELS. Suppose that 25 Instagram users (randomly selected) have been approached in the university located in vile parle. They have been asked about their status of like/ dislike the Instagram- REELS.

a) What is the probability that Exactly 15 of them would agree with the claim (or said they love Insta-REELS)?

b) What is the probability that Exactly 20 of them would agree with the claim (or said they love Insta-REELS)?

3.b. ‘Bhartdarshan’ is an Internet-based travel agency wherein customers can see videos of the cities they plan to visit. The number of hits daily is a normally distributed random variable with a mean of 10,000 and a standard deviation of 2,400.

a. What is the probability of getting more than 12,000 hits?

b. What is the probability of getting fewer than 9,000 hits?


Business Economics


1. Assume that a consumer consumes two commodities X and Y and makes five combinations

for the two commodities:


Combination Units of X Units of Y
A 25 3
B 20 5
C 16 10
D 13 18
E 11 28


Calculate Marginal rate of Substitution and explain the answer.

2. Elaborate the term Total Revenue and Marginal revenue also calculate TR and MR in the given table

Price Output (In Units) Total Revenue Marginal Revenue
20 1    
18 2    
16 3    
14 4    
12 5    


3.a. From the given Demand Schedule for air tickets, calculate elasticity of demand.

Price of Air Ticket (Per Ticket) Quantity Demanded (Tickets per month)
1,00,000 5,000
1,20,000 3,500


3.b. Elaborate the term Elasticity of Supply and explain any three factors that determines elasticity of supply.

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