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ACADEMIC TASK NO: 3

Mittal School of Business

Faculty Name - Dr. Gurpreet

Kaur

Course Code: QTT201 Course Title: Business Mathematics and Statistics

Section: Q2107 Batch: 2021
Max. Marks: 30 Date of Allotment: 30 November 2021 Date of Submission: 13th December, 2021

S. No Objectives of Topic Details Evaluation Parameters Expected outcomes

Academic Activity

1 Students would be able Individual Students will have to submit Marks Distribution: -This academic task focusses on
to understand the properly written answers of the questions the following:
theoretical concepts of Written Answers(6 Questions 1: identify the basic Mathematical
quantitative methods The asked questions will be regarding the will be answered each carrying
tools 2 analyze the role of
concepts and application of Quantitative 5 marks) -30 Marks
techniques mathematical tools in economic
problems 3. Good analytical and
The student will go through books and sources real life problems understanding
available online and offline The marks distribution for each will be developed quantitative
question will be based on the skills
The student will demonstrate the relevance of mentioned parameters and will
given questions provide 2 marks each:
1. Steps followed and
The assignment will require students to description of the
upload answers written in a single pdf. Or word economic problem
file through UMS/Online mode .Correct Calculation
(2)
2. Linkage of the analysis
Note: If any student/students found copied
with Economic
material both/or all get zero marks so don’t share Application (2)
3. Presentation (1)
your assignment to anyone.
Q1.

Q2. Team A and B are playing a game that they have to win 4 out of 7 rounds to win the game. The probability
of A wins is p, then the probability of B wins is 1-p (no chance of a tie), what is the probability that they will
play all seven rounds? What if the probability of A wins is different in the home field (p) and in the visiting
field (q)?

Q3. There are four boxes: A, B, C, D. John put a ball randomly in one of the four boxes and let David
guess which box he put the ball. David guessed that the ball is in box A, but he was not sure. John
 gives him a hint that the ball is not in box B. At this time, what is the probability that the ball is in box
C?

Q4.

Calculate coefficient of correlation between marks assigned to ten students by judges x and y in a certain
competitive test as shown below and also explain which method is suitable and why?

Q 5. Define correlation coefficient ‘r’ and give its limitations. What interpretation would you give if told that the
correlation between the number of truck accidents per year and the age of the driver is (–) 0.60 if only drivers with at
least one accident are considered?

Q6. The following are the monthly figures of the advertising expenditure and sales of a firm. It is generally
found that advertising expenditure has its impact on sales generally after 2 months. Allowing for this time lag,
calculate the coefficient of correlation.