NMIMSGlobalAccess

SchoolforContinuingEducation(NGASCE)
Course:BusinessStatistics
InternalAssignmentapplicableforDecember2017Examination

AssignmentMarks:30

Instructions:

AllQuestionscarryequalmarks.
AllQuestionsarecompulsory
All answers to be explained in not more than 1000 words for question 1 and 2 and for
question 3 in not more than 500 words for each subsection. Use relevant examples,
illustrationsasfaraspossible.
Allanswerstobewrittenindividually.Discussionandgroupworkisnotadvisable.
Studentsarefreetorefertoanybooks/referencematerial/website/internetforattempting
their assignments, but are not allowed to copy the matter as it is from the source of
reference.

Students should write the assignment in their own words. Copying of assignments from
otherstudentsisnotallowed.

Studentsshouldfollowthefollowingparameterforansweringtheassignmentquestions.

ForTheoreticalAnswer ForNumericalAnswer
AssessmentParameter Weightage AssessmentParameter Weightage
Introduction 20% Understandingandusage 20%
ConceptsandApplication 60% oftheformula
relatedtothequestion Procedure/Steps 50%
Conclusion 20% CorrectAnswer& 30%
Interpretation

1. The sample data from a research survey conducted in various countries on the amount of
time 3-5 year-old children spent alone with their fathers each day is as follows:

Time with Dad

Country (minutes)
Bangladesh 30

NMIMSGlobalAccess
SchoolforContinuingEducation(NGASCE)
Course:BusinessStatistics
InternalAssignmentapplicableforDecember2017Examination

Bhutan 46
China 54
Nepal 50
Pakistan 46
Nigeria 42
Korea 46
Russia 42
India 50

For the above sample, determine the following measures:

a. The mean
b. The standard deviation
c. The mode
d. The 75th percentile
Based on your calculations comment on the father-children relationship (10 Marks)

2. Prince a chaiwala at Mumbai Central station believes that the sales of tea at his tea shop
depends upon the weather. He has taken a sample of a weeks data. Below you are given
the results of the sample. (10 Marks)

Cups Sold Temperature

350 50
200 60
210 70
100 80
80 90
70 100
50 110

a. Which variable is the dependent variable?

b. Compute the least squares estimated line.
c. Is there a significant relationship between the sales of coffee and temperature?
e. Predict sales of a 95 degree day.

NMIMSGlobalAccess
SchoolforContinuingEducation(NGASCE)
Course:BusinessStatistics
InternalAssignmentapplicableforDecember2017Examination

3. According to one of the recent study published in an International report, the cost of medical
malpractice in the United States is USD 55.6 billion a year, which is approximately 2.4
percent of US annual health-care spending. An earlier research report published in 2011, in
the New England Journal of Medicine revealed that, during the period 1991 to 2005, 7.4
percent of all physicians licensed in the US had a malpractice claim. These staggering
numbers not only contribute to the high cost of health care, but the size of successful
malpractice claims also contributes to high premiums for medical malpractice insurance.
The table below contains a sample of data set of claim payments made in a years time and
other information about the claimant.

Amount (in Age Marital Status Insurance type Gender

USD)
2 45 Single Private Male
5 34 Married Medicare Male
3.5 29 Married Private Female
160 46 Single Workers Male
compensation
4 56 Married Private Female
155 45 Single Private Female
45 44 Married Medicare Male
3 56 Single No insurance Male
20 43 Single Private Male

a. Using descriptive statistics explore claim payment amounts, and identify factors that
appear to influence the amount of the payment. (5 Marks)

NMIMSGlobalAccess
SchoolforContinuingEducation(NGASCE)
Course:BusinessStatistics
InternalAssignmentapplicableforDecember2017Examination

b. Do a correlation analysis between Amount and Age and interpreted the coefficient
of correlation. (5 Marks)

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