“QUESTION PAPER MUST BE ATTACHED ALONGWITH THE ANSWER BOOK.” L-82 May, 2015 STATISTICS Reg. No. CTI TTT) [ Time : 3 Hours } [Total Marks :100] Answer ANY FIVE questions only. All questions carries 20 marks each. (Candidates are allowed to refer Statistical Tables) Marks, : Q.1. Following data gives number of marks obtained by 10 student in two subjects, Seach History & Geography in a school exam. Histon T sa] 76 | 38 [o9 [54] 75] 5] 0 | 50 | 60 Geoerhy| go | ea [38 | 42 || | «ae | «0 | 50 a) Find correlation coefficient between X & Y b) Find regression lines ¥ on X and X on Y estimate Y when X= 62, estimate X when Y=5S, c) Find standard error of estimate of Y. d) If the two series are merged, find combined mean and standard deviation. Q.2. a) ABranch Office of a Life Assurance Company, has issued 75 Policies with Total Sum-Assured of Rupees 3,568 Lakhs, in a Week; the Sums-Assured (Rupees in Lakhs) of these 75 Policies, sorted in Descending Order, are osfollows ‘99 | 96] 95 | 91] 90] 90| 90] 90 | 89 | 87 | 86 | 86 | 84 | 83 | 78 76 | 75 | 74 | 72 | 71 | 71 | 69 | 69 | 68 | 64 | 64 | 64 | 62 | 56 | 5S 5535 55 [51 [50] 49 [ar [as [as [a3 [an [ax [039 [a7 3e[35 [35 [3t 3025 [25 [26-26 | 25 [28 [92 [0 [39 [19 iehsiepiepirfso ols ls fs fete [3 fa i. What is the Mean Sum-Assured (Rupees) of these 75 Policies? is ji, What is the Median Sum-Assured (Rupees in Lakhs) of these 75 Policies? 15 ii What is the Mode Sum-Assured (Rupees in Lakhs) of these 75 Policies? 2 b) A Life Assurance Company, randomly selects 15 of its Life Assurance Proposers, and recorded their Heights (Centi-Meters) as follows: Proposer Height (Centi-Meters) 1 170 2 175 3 157 4 165, 15 172 6 175, 7 170 8 171 9 175 10 160 iL 165 12 167 B 175 14 1 15 175 What is the Variance and Standard Deviation of the Height of these 15 Life Assurance Proposers? c) Average Annualized Premium per Policy of 12 Policies from Branch-A and 13 Policies from Branch-8, selected randomly, of a Life Assurance Company, d) Q.3. a) b) are as follows: Number of | Average Annualized Premium per Policy | Standard Branch | _ Policies (Rupees in Thousands) Deviation A 2 62,000 24,718 8 3B 52,750 15,915 Determine the Combined Mean and Combined Standard Deviation of Average Annualized Premium per Policy for the Life Assurance Company. Immediately after the Polling-Day of General Elections of a Country, a News-Paper conducts an Exit-Poll for estimating the Proportion of Voters, Likely to Vote for Party-XYZ. How Many Minimum Number of Voters (Minimum Sample-Size) should be interviewed, if the Editor wishes to be 95% Confident that the Error in Estimate will Not Exceed 5%? Derive the equation of trend line using method of least squares for the following time series. {Year —+ | 2000] 2001] 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | y—» | 160 | 180] 184] 166| 188] 198| 184] 208 | Calculate the estimated values of Y using the equation of trend line. ‘random variable X is defined as the number of failures before the first success, in a sequence of independent Bernaulli trials, where the probability of success is @ at any trial and it remains constant throughout . Derive the probability distribution of X. State the formulae for expected value and variance of X 10 10Q.4, a) Ten agents are selected at random from Branch A and another ten agents are selected from Branch B of a General Insurance Company. Their performance in procuring motor vehicle policies in a particular year was observed and tabulated as below. Branch ‘a—+| 80| 72] 36| 66] 52| 71] 43] 86) 48) 57 Branch p_>| 75| St) 36| 46) 52) G4] 41) 81) 46] 48 Can it be said that agents of Branch A are more efficient than those of Branch B in Motor Vehicle Business? Prove statistically. b) Ina village, total 2010 farms were being studied for cultivation of wheat. The farms were divided into 7 strata, according to farm size. It was decided to select a sample of 150 farms from their population. Table below gives available data. Calculate sample size per stratum by method of i, Proportion ii, Using standard deviation. Stratum | Farm Size in Number of Standard 4 acres Farms Deviation 1 0-40 394 83 2 41-80 461, 133 3 81-120 391, 15.1 4 121-160, 334 19.8 5 161-200 169 245 6 201-240 113 26.0 7___| More than 240 148 35.2 Q.5, a) Fita Poisson Distribution to the following data & test the goodness of fit. f 7 Variable f 20} 34| 27/15] 3] 1 frequency | b) A group of 300 salesmen were classified as per two attributes namely, standard of clothing and performance in field selling, The data was tabulated in a 3 x3 contingency table as below. Standard of [____ Performance in field selling Clothing } Disappointing| Satisfactory | Excellent [Poorly dressed 21 15 6. 10 10 10 10‘Well dressed 24 35, 26 Very well dressed 35 80 58 Can it be said for the above data, that standard of clothing has significant effect on performance in field selling? (Use Chi-Square test at 5% level of significance) Q.6. Indian Insurance Training Institute decides to out-source the Job of Conducting ‘a Multiple-Choice-Questions (M.C..) Examination, for which, 5,000 Candidates have registered. Chief Examination Officer (C.E.0.) of the Institute wishes to conform that the Out-Sourced Agency has appropriately conducted the Examination, and No Element of Any Mal-Practice exists; for which, a Sample of 500 Answer-Sheets were selected on a Random Basis, Results of which, are as follows: s Test-Score | Number of Candidates 1 10-19 86 2 20-29 34 3 30-39 39 4 40-49 55 5 50-59 57. 6 60-69 92 7 70-79 29 8 80-89 22 9 90-99 36 Total 500 Can the Chief Examination Officer (C.E.O.) of the Institute will continue with the Out-Sourced Agency, if the Distribution of Scores out of 100 Marks is Normal? Q.7. a) Possible Fire Losses at Each of n Different Locations are Identically Distributed with Expected (Mean) Loss of Rupees 25,000/- with Standard Deviation of Rupees 2,500/- (that is, Variance of Rupees 62,50,000/-). Show that the Portfolio of Loss Exposures obeys the Law of Large Numbers with Increase in Size of n. b) Calculate Price Indices for the Year: 2015, with Year: 2010 as Base-Year, from the following Data, using Laspeyres’, Paasche’s, and Fisher's Formulae; and verify that Time Reversal Test is satisfied by Fisher’s Formula Clothing eon Rice-Plate (shies Trousers) | _ Shelter (Rent) Price [Quantity | Price | Quantity | Price | Quantity (Rupees) | (Units) | (Rupees) | (Units) | (Rupees) | (Units) 2010 sof 5 soot 3 | 10000| 2 2015 w0[ 8 aoo[ 5 | 1500/3 20 10 10Q.8. Divisional Office of a Life Assurance Company has 26 Branch Offices in the ferent Cities of a State. Data related to these 26 Branch Offices is given below. First Year | insurable | PerCapita | Number Branch | Premium 1 city | Branch | fremlet | Population | Annual income | of cueey | (lakhs) | (Rupees, Lakhs) | Agents A T 25 FE} 2 302 8 2 32 3 5 634 ¢ 3 15 17 4 27 D 4 20 17 7 376 E 5 17 19 a 397 F 6 31 21 9 524 6 7 36 24 12 288 H 8 37 15 3 201 1 9 49 14 5 879) 1 10 18 14 8 555, K i 16 18 6 206 t 12 3 15 4 319 mM | 13 14 22 6 422 N 14 3 5 10 680 ° 15 30 14 a 533 P 16 a7 2a in ‘300 a |v a2 8 3 227 R 18 48 13 7 286 5 [un 10 | 270 T 20 40 23 3 497 u 21 33 16 10 927 v_| 2 25 19 5 23 w | _23 34 18 10 820 x 24 30 21 9 923 Y 25 34 15 4 581 z 26 26 7 7 623 ‘Assuming that, First Year Premium (Rupees, Crores) is a Dependent Variable, whereas, Insurable Population (Lakhs), Per Capita Annual Income (Rupees, Lakhs), and Number of Agents are the Independent Variables; obtain Coefficient of Determination (R?) and Coefficient of Correlation (R) What will be First Year Premium (Rupees, Crores) in Case of a City with Insurable Population (Lakhs) of 25, Per Capita Annual Income (Rupees, Lakhs) 5, and Number of Agents is 250? END 20