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MS-08

Management Programme

ASSIGNMENT
FIRST SEMESTER
2017

MS - 08: Quantitative Analysis for Managerial Applications

School of Management Studies


INDIRA GANDHI NATIONAL OPEN UNIVERSITY
MAIDAN GARHI, NEW DELHI 110 068
ASSIGNMENTS

Course Code : MS 08
Course Title : Quantitative Analysis for Managerial Applications
Assignment No. : MS-08/TMA/SEM-I/2017
Coverage : All Blocks

Note : Attempt all the questions and submit this assignment on or before 30th April, 2017 to the
coordinator of your study center.

1. The net incomes of a sample of large importers of antiques were organized into the
following table:
Net income Number of
($ millions) Importers
2 up to 6 1
6 up to 10 4
10 up to 14 10
14 up to 18 3
18 up to 22 2

(a) What is the table called?


(b) Based on the distribution, what is the estimate of the arithmetic mean net income?
(c) Based on the distribution, what is the estimate of the standard deviation?

2. The employees of Cartwright Manufacturing are awarded efficiency ratings based on such
factors as monthly output, attitude, and attendance. The distribution of the ratings follows
the normal probability distribution. The mean is 400, the standard deviation 50.
(a) What is the area under the normal curve between 400 and 482? Write this area in
probability notation.
(b) What is the area under the normal curve for ratings greater than 482? Write this area in
probability notation.
(c) Show the facets of this problem in a chart.
3. Advertisements by Star Fitness Center claim that completing its course will result in
losing weight. A random sample of eight recent participants showed the following weights
before and after completing the course. At the .01 significance level, can we conclude that
the students lost weight?

Name Before After


Himmat 155 154
Chandan 228 207
Mohan 141 147
Meera 162 157
Cimola 211 196
Peterson 164 150
Reddy 184 170
Prakash 172 165

(a) State the null hypothesis and the alternate hypothesis.


(b) What is the critical value of t?
(c) What is the computed value of t?
(d) Interpret the result. What is the p-value?
(e) What assumption needs to be made about the distribution of the differences?

4. What is time series analysis? Decompose a time series into its various components and
describe them.

5. What is a random variable? How is it used to define a probability distribution? Make the
probability distribution of scores facing up in a throw of two dice.