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L.J.

MBA
MBA I Semester I Morning Shift Quantitative Analysis Mid- Semester Exam 2010 Duration: 2 Hrs 29/11/2010 Marks: 60

Q1 A] Attempt any one [5] i. Explain the following- Sample distribution, population distribution and sampling distribution of means using graphs. ii. Discuss Skewness and relationship of mean, mode and median. Q1 B] A random sample of voters in Ahmedabad, is classified by age group, as given below] Age Group Frequency Age Group Frequency 18-24 17 48-54 30 24-30 22 54-60 32 30-36 26 60-66 21 36-42 35 66-72 15 42-48 33 i. ii. iii. Compute the mean and standard deviation for the sample Use Chebyshevs theorem to determine the percentage of voters between 18 years and 72 years ( Approximate). What percentage of voters actually falls in that interval? Assume the distribution of age is bell shaped. Compute the percentage of voters between 18 years and 72 years. Compare your answer with the value computed in part (iii) . [10]

Q2 A] A service station has a pump that distributes diesel fuel to automobiles. The station owner estimates that only about 3.5 cars use the diesel pump every 2 hours. i. What is the probability that three cars will arrive to use the diesel pump during a 1- hour period? ii. Suppose the owner needs to shut down the diesel up for half an hour to make repairs. However the owner hates to lose any business. What is the probability that no cars will arrive to use the diesel pump during a half-hour period? iii. Suppose five cars arrive during a 1- hour period to use the diesel pump. What is the probability of five or more cars arriving during a 1- hour period to use the diesel pump? If this outcome actually occurred, what might you conclude? [7] Q2 B] According to Census, about 65 % of commuters drive to work alone. Suppose 150 commuters are randomly sampled. i. What is the probability that fewer than 105 commuters drive to work alone? ii. What is the probability that between 110 and 120 ( inclusive) commuters drive to work alone? iii. What is the probability that more than 95 commuters drive to work alone? [8] OR Q2 A] An entrepreneur opened a small hardware store in a strip mall. During the first few weeks, business was slow, with the store averaging only one customer every 20 minutes in the morning. i. What is the probability that at least 1 hour would elapse between customers? ii. What is the probability that 10 to 30 minutes would elapse between customers? iii. What is the probability that less than 5 minutes would elapse between customers? [7]

Q2 B] In a particular manufacturing plant, two machines produce a particular part. One machine B is newer and faster. In one minute period, a lot consisting of 35 parts is produced. Twenty four are produced by machine by machine B and the rest by machine A. Suppose an inspector randomly samples a dozen of he parts from this lot. HY i. What is the probability hat exactly three parts were produced by machine A? ii. What is the probability that half of the parts wee produced by each machine? iii. What is the probability that all of the parts were produced by machine B? [8] Q3 A] In certain city, 30 % of the families have a Master Cad, 20 % have an American Express Cad, and 25% have a Visa Card. Eight percent of the families have both a Master Card and an American Express card. Twelve percent have both a Visa card and a Master Card. Six percent have both an American Express card and a Visa card. i. ii. iii. iv. v. What is the probability of selecting a family that has either a Visa card or an American Express card? If a family has a Master Card, what is the probability that it has a Visa Card? If the family has a Visa card, what is the probability that it has a master card? Is the possession of a visa card independent of possession of a Master Card? Why or Why not? Is possession of an American Express Card mutually exclusive of possession of a Visa card? [10]

Q3 B] Three families have respectively three boys four girls, three boys two girls and four boys two girls. One child is selected at random from each family. Find the probability that the selected group of 3 children will have 2 girls and 1 boy. [5] OR Q3 B] In an industry a Managing Director is to be appointed from three persons X, Y and Z. The chance of selection of X is twice that of Y, while the chance of selection of Z is twice that of Y. Probabilities that three persons if selected as MD will increase the bonus of workers are 0.2, 0.4, 0.3 respectively. If the bonus has increased, find probability that X is selected as MD? [5] Q4 A] An entrepreneur wants to open an appliance service repair shop. She would like to know about what the average home repair bill is, including the charge for the service call for appliance repair in the area. She wants the estimate to be within $20 of the actual figure. She believes the range of such bills is between $30 and $600. How large a sample should the entrepreneur take if she wants to be 97 % confident of the results? [5] B] According to ABC research company, the average cots of a domestic trip for business travelers in the financial industry is $1250.Suppose another travel industry research company takes a random sample of 22 business travelers in the financial industry and determines that the sample average cots of a domestic trip is $ 1192, with standard deviation of $279. Construct a 98% confidence interval for the population mean. Does fig published by ABC company fall into the confidence interval computed from the sample data? What does it tell you? [5] C] A particular automobile costs an average of $17500. The standard deviation of prices is $650. Suppose a random sample of 30 dealerships is taken and their managers are asked what they charge for this automobile. What is the probability of getting a sample average cost between $17400 and $17755? Assume that, only 120 dealership sell this automobile. [5]

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