SECTION-A

Q.1 Compute median from following data.

Mid-values 115 125 135 145 155 165 175 185 195
Frequency 6 25 48 72 116 60 38 22 3
Solution:-

First, we have to re-arrange the following data in ascending order to calculate

median:

Mid-value Frequency(f) Cumulative

frequency(cf)
115 3 3
125 6 9
135 22 31
145 25 56
155 38 94
165 48 142
175 60 202
185 72 274
195 116 390
Total=9 n=390
Here, n=390
𝑛+1 9+1 10
∴Median= 2
= 2
= 2
= 5th item

=155 ANS.
Q-3 Calculate the trend values by the method of least square from the following data and
estimate the sales for the year 2025.

Year 2016 2017 2018 2019 2020

Sales of T.V 12 18 20 23 27
(000)
Solution:-

Year(x) Sales(y) Deviation X2 X.Y

X=x-2018
2016 12 -2 4 -24
2017 18 -1 1 -18
 2018 20 0 0 0
2019 23 1 1 23
2020 27 2 4 54
N=5 ∑𝑦=100 ∑𝑥=0 ∑X2=10 ∑XY=35

∑𝑦 100
∴𝑎= = = 20
𝑛 5
∑×𝑦 35
∴b= ∑𝑥2
= 10 = 3.5

To calculate Trend Value= a+bx

∴Year2025= 20+3.5×7

=30.5 ANS

(We took x as 7 because, x=x-2018 =2025-2018 =7).

Q-4 Solve the following equation using Cramer’s rule: (10)

2x+y-z=3; x+y+z=1; x-2y-3z=4

Solution:-

2x+y-z=3
x+y+z=1
x-2y-3z=4
2 1 −1
=>൥1 1 1൩
1 −2 −3
1 1 1 1 1 1
=>ȁ𝐷 ȁ=2ቂ ቃ-1ቚ ቚ-1ቚ ቚ = 2(-3-(-2))-1(-3-1)-1(-2-1) = -2-(-4)-(-3) = -1
−2 −3 1 −3 1 −2
∴To find ; DX,
3 1 −1
|DX|=൥1 1 1൩
4 −2 −3
1 1 1 1 1 1
=>|DX|=3ቚ ቚ-1ቚ ቚ-1ቚ ቚ = 3(-3-(-2))-1(-3-4)-1(-2-4) = -3-(-7)-(-6) = -2
−2 −3 4 −3 4 −2
∴To find ; DY,
2 3 −1
|DY|=൥1 1 1 ൩
1 4 −3
1 1 1 1 1 1
=>|DY|=2ቚ ቚ-3ቚ ቚ-1ቚ ቚ = 2(-3-4)-3(-3-1)-1(4-1) = -14-(-12)-3 = 1
4 −3 1 −3 1 4
∴To find ; DZ ,
2 1 3
=>|DZ|=൥1 1 1൩
1 −2 4
1 1 1 1 1 1
=>|DZ|=2ቚ ቚ-1ቚ ቚ+3ቚ ቚ = 2(4-(-2))-1(4-1)+3(-2-1) = 12-3+(-9) = 0
−2 4 1 4 1 −2
 𝐷𝑥 −2
∴X= = =2
𝐷 −1
𝐷𝑌 1
∴Y= 𝐷 = −1 = -1
𝐷𝑍 0
∴Z= = =0
𝐷 −1
Hence, we got the answer, x value as 2, y value as -1, z value as 0.
Q-5 Find the limit of the following function: (10)
lim x --> ∞(x+1) (2x+3)
(x+2) (3x+4)

Solution:-
 SECTION-B
Q.6 Discuss the types of discounts. (6)
ANS- Discounts are promotions that businesses offer to their customers that reduce the cost
of items or services, often by a percentage or using specific criteria. For example, a store
may offer a 50% discount on particular products. Businesses can use discounts to shed
unwanted inventory, promote new items for sale or attract customers. These discounts also
provide value to the customers, who may find it easier to make these purchases due to the
lower prices.

Types of discounts are:-

• Buy one, get one free. This discount may require a buyer to receive two of the same
inventory item, or it could allow for a free item that differs from the initial purchase.
This discount is used to clear out inventory, or in general when the gross margin on a
product is high enough to still generate an adequate profit for the seller.

• Contractual discounts. A standard discount percentage is included in an existing

contract between the buyer and seller. For example, the contract may state that all
purchases made receive an automatic discount of 8%. Under this arrangement, the
discount is taken from the sale price at the point of sale - there is no delay.

• Early payment discount. Customers can take a small percentage discount when paying
the seller, if they pay within a certain number of days. These discounts tend to have a
high effective interest rate, and so are a good deal for customers, if they have sufficient
cash available to take advantage of the offer.

• Free shipping. The seller grants free shipping if a discount code is used, or if orders
occur within a certain period of time. This is linked to the order date rather than the
shipment date, since the shipment date could be delayed.

• Order-specific discounts. A seller may be running a special deal on certain inventory

items, or for all items but during a restricted period of time. In either case, a discount is
applied to a specific order. If the discount is only for certain inventory items, then the
discount is restricted to specific line items within the customer order.

• Price-break discounts. A customer may qualify for an immediate discount on an order

if the number of units ordered exceeds a threshold amount. If so, the discount is
applied when the order is placed. The discount should not be applied at the point of
shipment, since the seller may ship in a reduced quantity, which is not the fault of the
buyer. This is a variation on a volume discount.

• Seasonal discount. A price reduction may be offered at certain times of the year when
sales would normally be slow. For example, a hotel at a ski resort might offer low
prices during the summer months when it would otherwise have few visitors.
• Trade discount. This is a discount offered to retailers to stock the seller's goods. This
discount is usually mandated when the buyer exercises significant control over the
seller.

• Trade-in credit. This is a discount offered on the purchase of a new product when an
older version owned by the customer is traded in. The seller may not earn any profit
from the returned item, but generates a new sale and also locks in the customer for
another product cycle.

• Volume discount. Once a customer reaches a certain amount of sales volume during the
measurement period (typically a year), a volume discount applies. This discount can be
retroactive, covering all preceding sales during the measurement period, or it may only
apply to all subsequent sales. In the first case, a credit or payment will be issued to the
customer that relates to the prior purchases.

Q.7 Define inverse matrix and discuss its properties. (6)

ANS- Inverse of Matrix for a matrix A is A-1. The inverse of a 2 × 2 matrix can be
calculated using a simple formula. Further, to find the inverse of a 3 × 3 matrix, we need to
know about the determinant and adjoint of the matrix. The inverse of matrix is another
matrix, which on multiplying with the given matrix gives the multiplicative identity.

The inverse of matrix is used of find the solution of linear equations through the matrix
inversion method. Here let us learn about the formula, methods, and terms related to the
inverse of matrix. The inverse of matrix is another matrix, which on multiplication with the
given matrix gives the multiplicative identity. For a matrix A, its inverse is A-1, and A.A-1 = I.
Let us check for the inverse of matrix, for a matrix of order 2 × 2, the general formula for
the inverse of matrix is equal to the adjoint of a matrix divided by the determinant of a
matrix. The inverse of matrix exists only if the determinant of the matrix is a non-zero
value. The matrix whose determinant is non-zero and for which the inverse matrix can be
calculated is called an invertible matrix.
Q.8 Briefly explain the functions related to business and economics. (6)
ANS- The functions related to business and economics are as follow-

1. Production function: Production is the creation of goods and services with the help
of certain processes. The production of goods depends essentially on the
organisation of men, money, materials, and facilities into a smoothly operating
business. In modern organisations, production is highly organised, mechanized, and
specialised mass production, and, therefore, its overall charge is entrusted to the
Production Manager.
2. Marketing function:Marketing is the process of getting goods and services into the
hands of the consumer with a view to satisfying the needs and desires of consumers
and producers. In other words, the marketing function creates a process through
which producers and consumers are brought together in an exchange relationship
and transfer of ownership takes place.
3. Finance function: Business maintains relationship with financial markets including
institutions and major shareholders and also takes care of other concerns such as
share buybacks, capital raising sources of borrowings and risk management.
4. Human Resource (HR) function:The HR function deals with the human side of
business. It is concerned with increasing the effectiveness of human performance in
any organisation. Specifically stated, the HR function aims at obtaining arid
maintaining a capable and effective workforce, motivating the employees
individually and in groups to contribute their maximum to the fulfilment of
organisational goals.
5. Information function:Like production, marketing, finance, and human resource, the
information function is equally important in a modern business. It is being
increasingly recognised that the modern business cannot be managed without the
assistance of efficient information function. The information function is basically
concerned with records.
6. Innovation:“An innovation is the implementation of a new or significantly improved
product (good or service), or process, a new marketing method, or a new
organisation method in business practice, workplace organisation or external
 relations.” Thus, innovation, which means creativity as well, is more of a philosophy
and the entire business function needs to adopt it.

Q.9 What is index number? Discuss the three principal types of indices. (6)

ANS- Index number in statistics is the measurement of change in a variable or variables

across a determined period. It will show general relative change and not a directly
measurable figure. An index number is expressed in percentage form. Index numbers
occupy an important place due to its efficacy in measuring the extent of economic
changes across a stipulated period. It helps to study such changes' effects due to factors
that cannot be directly measured.

The three principal types of indices are-

1.Value Index:A value index number is formed from the ratio of the aggregate value for a
particular period with that of the aggregate value that is found in the base period. The
value index is utilised in for inventories, sales and foreign trade, among others.

2. Quantity Index:A quantity index number is used to measure changes in the volume or
quantity of goods that are produced, consumed and sold within a stipulated period. It
shows the relative change across a period for particular quantities of goods. Index of
Industrial Production (IIP) is an example of Quantity Index.

3. Price Index:A price index number is used to measure how price alters across a period.
It will indicate the relative value and not the absolute value. The Consumer Price Index
(CPI) and Wholesale Price Index (WPI) are major examples of a price index.

Q.10 Define correlation and regression and explain the relationship between
correlation and regression coefficients. (6)

ANS- The correlation coefficient is a statistical measure of the strength of the

relationship between the relative movements of two variables. The values range
between -1.0 and 1.0. A calculated number greater than 1.0 or less than -1.0 means that
there was an error in the correlation measurement. A correlation of -1.0 shows a perfect
negative correlation, while a correlation of 1.0 shows a perfect positive correlation. A
correlation of 0.0 shows no linear relationship between the movement of the two
variables.

Regression is a statistical method used in finance, investing, and other disciplines that
attempts to determine the strength and character of the relationship between one
dependent variable (usually denoted by Y) and a series of other variables (known as
independent variables).
--MADE BY HARSHA VERMA -