Bangladesh University of Professionals (BUP)

MBA (Professional) – Summer Semester, 2020

Business Statistics (BUS – 7203))
Mid Term
Time: 90 Minutes Marks: 60
Name: Roll No.:

Answer the following questions

1. Describe the importance of statistics in business decision making process. Explain

different levels of measurement with example. 12

2. The following table gives the distribution of the amount (in taka) that 100 randomly
selected persons said they would spend weekly for their conveyance
Amount Number of Persons
0 – 50 10
50 – 100 24
100 – 150 33
150 – 200 20
200 – 250 13
(a) Find the mean weekly expense of the persons. 8
(b) Compute the standard deviation. 8
(c) If the median is 124 then calculate the coefficient of skewness and identify the
shape of the distribution. 4

3. The prices of the shares of six IT firms increased/decreased by 37.1%, 114%, 9.2%,
-2.7%, 0% and 82% respectively. What is the mean percent increase or decrease in the
price of the six shares? Which method do you apply to calculate the mean? Why? 8

4. (a) Explain different approaches to probability with example. 6

(b) A student is taking two courses, Human Resource Management and Business
Statistics. The probability the student will pass the HRM course is 0.60 and the
probability of passing statistics course is 0.70. The probability of passing both is 0.50.
What is the probability of passing no course? 6

5. In a recent survey, 35 percent indicated chocolate was their favorite flavor of ice
cream. Suppose we select a sample of ten people and ask them to identify their
favorite flavor of ice cream. 8
(i) What is the probability exactly three of those in the sample identify chocolate
as their favorite flavor?
(ii) What is the probability at best three of those identify chocolate as their
favorite flavor?
(iii) What is the probability three or more identify chocolate as their favorite
flavor?
(iv) How many of those in the sample would you expect to identify chocolate as
their favorite flavor?