MBA (IB) Semester I Examination OBE -2021

MARCH 2021
Paper No – MBIBCC107
Unique Code- 424111107
Paper Title – BUSINESS STATISTICS
Max Time: 3 Hours Max Marks: 70

Attempt any four questions. All questions carry equal marks

1. In a certain examination, the percentage of passes and distinction were 45 and 10 respectively.
Estimate the average marks obtained by the candidate, the minimum pass and distinction marks
being 45 and 75 respectively (assume distribution to be normal). Also determine what would have
been the minimum qualifying marks for admission to a re-examination of the failed students, had
it been desired that the best 25 percent of them should be given another opportunity of being
examined.

2 A manufacturer makes a product, of which the principal ingredient is a chemical, X. At the

moment, the manufacture spends Rs 1000 per year on supply of X, but there is possibility that the
price may soon increase to four times its present figure because of a worldwide shortage of the
chemical. There is another Chemical Y, which the manufacturer could use in conjunction with
third chemical, Z in order to give the same effect as Chemical X. Chemical Y and Z would together
cost the manufacturer Rs 5000 per year, but their prices are unlikely to rise. What action should
the manufacturer take? Apply the maximax and minimax regret criteria to give two sets of solution.
If the coefficient of optimism is 0.5, find the course of action that minimizes cost.

3. “Enumerating the entire population is neither feasible nor desirable” Illustrate this statement in
the light of Big Data. Also explain application of snowball and stratified sampling in examples
related to International Business?

4. A random sample of 25 has a sample mean of 53. The sum of deviation taken from actual mean
is 150. Can this sample be regarded as taken from the population having 56 as its mean? Obtain
95 per cent and 99 per cent confidence limit of sample.

5. A sample analysis of examination results of 500 students is made. It was found that 220 students
has failed, 170 had secured third division, 90 were placed in second class, and 20 got a first class.
Are these figures commensurate with general examination result which is in the ratio of 4:3:2:1
for the various categories respectively?

6. “Correlation and regression analysis along with probability are foundation of predictive
analytics” Comment. How do we test significance of correlation coefficient? Explain with suitable
example.