STATISTICS

FOR
MANAGEMENT
Assignment – 3

By Group 9: -
Sayali Dattatreya Deshpande (M20MS049)
Shaik Sameeruddin (M20MS050)
Sheryl (M20MS051)
Shreya Singh (M20MS052)
Shruthin Pasunoori (M20MS053)
Shubham Rawat (M20MS054)
Shubham Rokade (M20MS055)
1 Solution
Let total orders of restaurant be 100.
Orders filled by Alicia = 45
Orders filled by Juan = 25
Hence, Orders filled by Alex are 100 – (45 + 25) = 30
Name of person Total orders filled Incorrectly filled Correctly filled orders
orders
Alex 30 (30*0.2) = 6 (30 * 0.8) = 24
Alicia 45 (45*0.12) = 5.4 (45 * 0.88) = 39.6
Juan 25 (25 * 0.05) = 1.25 (25 * 0.95) = 23.75
Total 100 12.65 87.35

Calculations:
a. Probability that Alicia filled the order P(Alicia) = (45/100) = 0.45

b. Probability that order was filled correctly given that it was filled by Juan =
P(Correct/Juan) = (23.75/25) = 0.95

c. Revised probabilities that Alex, Alicia, or Juan filled the order given that the order was
filled incorrectly
P(Alex/Incorrect) = (6/12.65) = 0.4743
P(Alicia/Incorrect) = (5.4/12.65) = 0.4268
P(Juan/Incorrect) = (1.25/12.65) = 0.0988

d. Revised probabilities that Alex, Alicia, or Juan filled the order given that the order was
filled correctly
P(Alex/Correct) = (39.6/87.35) = 0.274
P(Alicia/Correct) = (24/87.35) = 0.453
P(Juan/Correct) = (23.75/87.35) = 0.272
2 Solution
Let total Adults be = 100

Recycle

Y N Total

Y 40 15 55

Banning N 60 * 0. 45 = 45-27 = 18 45
27

Total 67 33 100

a. Probability that the adult recycles AND do not believe that plastic, non-compostable
shopping bags should be banned = (27/100) = 0.27

b. Probability that the adult recycles = (40 + 27) = (67/100) = 0.67

c. Probability that the adult does recycle OR does believe that plastic, non-compostable
shopping bags should be banned = (55 + 67 – 40) = 82/100 = 0.82

d. Probability that the adult does not recycle OR does not believe that plastic,
non-compostable shopping bags should be banned = (33 + 45 – 27) = 51/100 = 0.51

e. Probability that the adult does not believe that plastic, non-compostable shopping bags
should be banned given that the adult does recycle = 27/67 = 0.4029
3 Solution
Let total stock investors be 100
Retired investors = 20
Non- retired investors = 80
Hence, Probability of retired investors (p) = 0.2
Probability of active investors (q) = 0.8
Sample size (n) = 20
a. According to Binomial Distribution,
P(x) = nCx px q(n-x)
Hence, P(x=8) = 20C8 * (0.2)8*0.8(20-8)
= 0.0221

b. Probability that 12 or more are retired people

P(x>=12) = 1- P(x<12)
= 1-[P(x=0) + P(x=1) + …………..P(x=10)+ P(x=11)]
(P(x) = nCx px q(n-x) )

= 0.00010172876

c. E(x) = n * p
= 20 * 0.2 = 4

d. Let Total Investors = 100

Investors who invest in mutual funds = 40
Investors who don’t invest in mutual funds = 60
Hence, Probability of investors who invest in mutual funds (p) = 0.4
Probability of Investors who don’t invest in mutual funds (q) = 0.6

Sample size (n) = 20

P(x=10) = 20C10 * (0.4)8*0.6(20-10)
= 0.117

e. Probability that fewer than 5 adults invested in mutual funds

P(x<5) = = > P(x=0) + P(x=1) + P(x=2) + P(x=3) + P(x=4).
= 0.0509
 f. Probability of Investors who don’t invest in mutual funds (q) = P(x=0)
P(x=0) = 20C0 * (0.4)0*0.6(20)
= 0.00003

g. probability that 15 or more adults invested in mutual funds in sample of 20 (n=20)

P(x>=15) = [P(x=15) + P(x=16) + …………..P(x=19)+ P(x=20)]
= 0.0016

h. For parts e-g the number which produces highest provability is 8. It is same as expected
value of this binomial distribution. As in binomial distribution, the highest probability is
always at mean value and it decreases as we move away from it.

4 Solution
λ = 3.2 cars for time interval of 2 hours. On applying unitary method, we get below
λ = 1.6/1hour and λ = 0.8/30mins
a. Using Poisson’s Distribution formula,
P(x) = (λx e- λ)/x!
P(3) = (1.63 * e-1.6)/3!
= 0.137

b. P(0) = (0.80 * e-0.8)/0!

= 0.449

c. λ = 1.6/1hour
P(x>=5) = 1-P(x<5)
= 1 – [0.2 + 0.322 + 0.25 + 0.13 + 0.05]
= 0.02368

{0.322 is the probability of P(x=1) }

Conclusion: From the given question we know that the Expected value at any given time
is 1.6 cars/hour. The probability of arrival of 1 car is 0.322 or 32.2%, this is the random
value which is near to Expected value of 1.6, and we can see as the random value is
increasing more than the expected value the probability of event is reducing. Hence, we
can confirm that there is only 2.36% chance of 5 cars arriving.