Answer the following questions. All questions carry equal marks.

Q.No.1 (a) What is the main purpose for construction of index numbers? Explain with examples.
(b) Compute the chain indices form the following price relatives of three commodities
using the geometric mean as an average.
Commodities
Year A B C
1996 81 77 119
1997 62 54 128
1998 104 87 111
1999 93 75 154
2000 60 43 165

Answer:
____

Q.No.2 (a) What is a time series? What is the purpose of the time series analysis?

(b) Obtain the four quarter moving averages from the following time series quarterly output
of coal for four years.
Year 2000 2001 2002 2003
I 65 58 70 60
II 58 63 59 55
III 56 63 56 51
IV 61 67 52 58

Answer:
Q.No.3. (a) Discuss the difference between the objective and subjective interpretation of the
probability.
(b) A club lists as its members 2 Canadian, 3 Japanese, 5 Italians and 2 Germans. Find the
probability that no Canadian is selected if a committee of size 4 is selected at random.
(c) In an exam, two reasoning problems, 1 and 2, are asked. 35% students solved problem
1 and 15% students solved both the problems. How many students who solved the
first problem will also solve the second one?
Answer:

Q.No.4. (a) A box contains 18 light bulbs. Of these, four are defective. Five bulbs are chosen at
random. Compute the probability that
i) None are defective.
ii) Exactly one of the chosen bulbs is defective?
iii) At least one of the chosen bulbs is defective?

(b) Define a random experiment and write down the properties of Binomial random
experiment.

Q.No.5. There are two plants in a T.V manufacturing factory. Plant I makes 60% T.V sets and 25%
T.V sets in the factory are defective. 15% T.V sets made by Plant I and are defective.
One T.V set is selected at random from the factory for inspection. Calculate the
probability: (i) T.V
set is good or made by Plant I but not both
(ii) T.V set is defective given that it was made by Plant II
(iii) T.V set made by Plant I given that it was good.

Q.No.6. (a) In a certain university examination, the marks of students have a normal distribution
with mean 82 and standard deviation 6.
(i) Find the percentage of A-graders in the university if minimum score for A-grade is 92.
(ii) Find the percentage of students getting B-grade if minimum score for B-grade is 75
and maximum is 84.

(b) The r.v. X, representing the number of chocolate chips in a cookie has the following
probability distribution.

X 2 3 4 5 6 Total
P(X=x) 0.01 0.25 0.40 0.30 0.04 1.00

Find Expected value of r.v. X and variance of r.v. X.