Computer Application for Economists Assignment I

1. Tata Metals makes metal casing for use in engineering industries. To do this it employs three types of labour
Skilled , Semi-skilled and Unskilled. The standard hourly rate of pay for each of theses skill types is $ 15, $
11 and $ 8 respectively. Employees work for a standard 8 hours per working day, but any hours worked in
excess of this or at weekends is rewarded at time and a half. That is 50% in excess of the standard rate.
* ( Use Excel Tools and functions to minimize calculations and computations , Use cell references)
Over a particular period, Tata Metals uses the following amounts of labour.
Skilled
Semi-Skilled
Un-Skilled
Standard Hours
60
150
220
Overtime Hours
15
25
35
a) Prepare an Excel model that will allow easy calculation of Tata Metals standard, over-time and total
costs.
b) Tata Metals has just received an order for 200 casing that must be delivered in 5 working days time.
Each casing requires 2 hrs of skilled, 3 hrs of semi-skilled and 4 hrs of un-skilled labour time. Currently
there are 3 skilled, 5 semi skilled and 8 un-skilled workers on pay roll. Using the previous model as
template, prepare an excel model that can calculate the total labour cost of meeting the order.
(Note: Use Data file MEW2_2.xls from David-Whighams Database . Refer Sheet 2 for a template
giving the attributes needed. (Use Absolute and Relative Referencing)
2. Use table 7.9.txt of Damodar Gujarathi Data set.
a)
Compute various measures of central tendency for Real Retail Price of Chicken per
Pound, Real Retail Price per Pound, and Retail Price of Beef Per Pound.
b) Compute the standard Deviation and Coefficient of Variation for the prices of the three edibles. Which

price is relatively stable and consistence. Why do you say so?

3. Sample of light bulbs were bought from two suppliers and were subjected to destruction test in the lab. The
following data were collected on the life:
Life in Hrs 700-800 800-900
900-1000
1000-1100
Total
Supplier A 14
74
29
13
130
Supplier B 12
58
32
18
120
a) Which supplier provides greater average life ?
b) Which supplier provides Uniform Quality?
c) Which Supplier would you prefer ?

4. Below given is a random sample of 60 households with regards to electricity charges in Rs. for the month of
May 2011. Construct a frequency distribution and interpret the same.
96
86
167
149
104
93
171
161
195
157
172
104
202
192
100
214
159
168
178
168
126
183
163
136
147
137
182
131
139
99
102
92
121
136
152
120
153
143
158
152
196
176
197
187
223
176
175
122
127
117
140
117
148
114
82
72
175
175
158
143
5. The cost of olive oil in a particular area is given as below.
Cost per liter for first 120 liters is Rs.85/Cost per liter for the next 300 liters is Rs.81.50/Cost per liter for oil bought above 450 liters is Rs.79.70/Write a logical function to calculate the cost of quantities of Oil listed in the file Oilprice.xls.
6 . Depict the below given table with appropriate graphs/charts using M.S. Excel.
Gives the scores of various criterion set for assessing the strengths and weaknesses of an institution where
each criterion is rated on a ten point scale.
Quality Assessment
Indicator
Students Strength
Pass Percentage
Student-Teacher Ratio
Paper Publications
Foreign Visits
Book Publication
Sports
Lab
Canteen Facility
Library

Score
Score
College-A College-B
7
9
4.2
3.5
8.8
7.3
7.6
10
3.3
2.8
4.9
6.6
2.5
0
6
9
8.4
0
3.7
1.1