ALLAMA IQBAL OPEN UNIVERSITY ee Level: MBA ‘Semester: Spring 2013 Paper: Business Mathematics & Statistics (8532) Maximum Marks: 100 Time Allowed: 03 Hours Pass Marks: 50 Note: ATTEMPT FIVE QUESTIONS. ALL CARRY EQUAL MARKS. GT] i. | Here are the ages of 30 people who bought video Tecorders at Symphony Music Shop |_ last week: 6 37 0 OS MDB \20 32 «15 27 PSK 32 2 6 MW 4 3 SS 50 63 2 OD a) From looking at the data just as they are, what conclusions can you come 10 ‘quickly about Symphony's market? b) Construct a 6-category closed classification. Does having this enable you | | conclude anything more about Symphony's market? |The numbers of apartments in 27 apartment complexes in Cary, North Carolifidy at | | given below 91 79 «66 B27 139 ASA TAT 192 B97: 92 TATE LHS 182 95 89 86 BS 129149 5B a) Construct a frequency distribution using intervals 66287, 88- Mpls 220-241. 1b) Estimate the model value o ©) Compute the mean of the raw data. Q2 |i | Determine the probabilities of the following ‘card from a standard | deck of 52 cards a) A black card b) A black two or abl 0) A red face card. ‘What type of probability estimates are ii, | Given that a random variablegy™ isribution with mean 6.4 and standard | deviation 27, find: a) PAO < x= 5.0) pee 2.0) P= 73) “}i. | im a normal distribution 5 375 and standard deviation 48, how large a sample ‘must be taken so that the probability will be at least 0.95 that the sample mean falls > in the four samples that follow, can we conclude that they shaving the same mean value? Use the 0.01 level of significance. bo wt uw Be ok 70 19 Bt Lies 2h = 19 28. IT Bi ee) 0-22 18 hy do dscision makers ofien measure samples raiher than entre populations? What is the disadvantage? ii, | Given Ti | The average commision charged by fllservice brokerage fms on & stock is 3/44 and the standard deviation is $32, Joel Frestander has taken a random Sample of 121 trades by his elients and determined that they paid an average commission higher than the industry average? ‘of common | | of S1SI. Ata 0./0 significance level, can Joel conclude that his clients’ commissions are | Qs Why would we use multiple regressions instead of simple regression in estimating a dependent variable? Explain In economics, the demand function for a product is often estimated by regressing the {quantity sold (Q) on the price ¢P). The Bamsy Company is trying to estimate the demand function for its new doll “Ma'am” and has collected the following data: P: 200° 175 160 140 1205 100 8&0 65 QO: 125 136 183 190 212 238 ©2530 276 @) Plot these data. —_b) Calculate the least squares regression line ©) Draw the fitted regression line on your plot from part (a). Pro