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ACADEMIC TASK NO: 3

Mittal School of Business
Name of the Faculty Member: Dr. Parul Verma
Course Code: QTT201 Course Title: BUSINESS MATHEMATICS AND STATISTICS

Max. Marks: 30 Date of Allotment: 7th December, 2021 Date of Submission: 14th December, 2021

S. No Objectives of Topic Details Evaluation Expected outcomes

Academic Parameters
Activity

1 Students would Individual Students will have to Marks Distribution:

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

1. 30 % students are offered mathematics in a particular class and 20 % students are offered chemistry in the
same class. Apart of that 10% students are offered both the subjects. Therefore, find the probability that
student is of mathematics or chemistry, if we randomly pick any student in the class.
2. Assume the mean height of soldiers to be 68.22 inches with a variance of 10.8 inches. How many soldiers in
a regiment of 1000 would you expect is less than six feet tall.
3. The following table gives indices of industrial production of registered unemployed. Calculate the value of
coefficient of correlation.
 Year 1991 1992 1993 1994 1995 1996 1997 1998
Production 100 102 104 107 105 112 103 99
unemployment 15 12 13 11 12 12 19 26

4. The ranks of the same 15 students in two subjects A and B are given below. The two numbers within the
brackets denote the ranks of the same student in A and B respectively.
(1,10), (2,7), (3,2), (4,6), (5,4), (6,8), (7,3), (10,1), (9,1), (10, 15), (11, 19), (12,5), (13,14), (14,12), (15,13)
Find the Spearman’s Rank correlation coefficient.
5. Clearly state the difference between Correlation and Regression? what is the application of regression give
example?
6. From the data given below find:
i) The two-regression equation
ii) The coefficient of correlation between the marks in economics and statistics
iii) The most likely marks in statistics when marks in economics are 30

Marks in statistics Marks in Economics

25 43
28 46
35 49
32 41
31 36
36 32
29 31
38 30
34 33
32 39