Answer the following question.
Q1. Discuss Interview as a technique of data collection.
Q2. For the cost function y = 500x – 40×2 + 3×3 for x units, find the average cost, marginal cost and marginal average cost.
Q3. A manufacturer can sell x items per month at a price of P = 300 – 2x rupees. Producing x items cost the manufacturer y rupees where y = 2x + 1000. How much production will yield maximum profit.
Q4. Distinguish between ‘Descriptive Statistics’ and ‘Inferential Statistics’.
Q5. Distinguish between ‘Constitutive’ and ‘Operational’ definitions.
Q6. Choose an area of your interest in Research and draft a Research Proposal with Title, Research problems, Hypothesis, Variables, Quantification schemes of variables, Research Design and Analysis plan.
Q7. A man borrows Rs. 1500 and agrees to repay the debt in 5 equal installments with 6% interest, compounded annually. If the first payment is to be made at the end of the first year, how much should each payment be?
Q8. A firm has current sales of Rs. 50000 e0.02t per month. The firm wants to embark upon a certain advertising campaign that will increase the sales by 2% every month over the 12 months period of campaign. Find total increase of sales as a result of the campaign.