CHRIST INSTITUTE OF MANAGEMENT, LAVASA

ENDTERM EXAMINATION – September 2020

Section A
Question 1
Solution 1.
(A) Male who are comfortable for 4 days per week = 300
Total number of population = 6000
probability for 4 days per week = Male in favor of 4 days/total number of
population that is 300/6000= 0.05 that is 5%.
answer is 5%
(B) total number of female = 4200
total number of employees = 6000
probability = 4200/6000= 0.7 that is 70% .
(c) Total number of female who are in favor of flexible weeks = 2100
total number of female employees = 4200
probability = 2100/4200= 0.5 that is 50%.
(D) Total no of employees who are in favor of 5 days that is 1200+1500=2700
total number of employees= 6000
probability = 2700/6000=0.45 that is 45%.

Question 2
solution 2
(a) What is the probability that the sample mean will be more than $306.60?
P(x > 306.6)= P(Z>306.6-300/4)= P(Z>1.65)
P(Z>1.65)=1-P(Z<1.65)=1-0.951=0.049

(b) What is the probability that the sample mean will be less than $308?
P(X<308) = P( Z < 308-300/4) =P(Z<2)
P(Z<2)= 0.97725 we got this with the help of z score table.
(c) What is the probability that the sample mean will be between $302 and $308?
P(0.5<Z<2) = P(Z < 2) - P(Z < 0.5) = 0.97725-0.691 = 0.286
(d) What is the probability that the sample mean will be at least $296?
P(X> 296)= P(Z>296-300/4) = P(Z>-1)
P(Z > -1)= 1-P (Z<-1) = 1 - 0.159 = 0.841

Question 4.
Answer 4. (a) Type 1 error:- This is the situation when a person rejects the null
hypothesis wrongly. In the case this is known as a type 1 error.
Example for this error is suppose a pharmaceutical company have already have
a drug in all stores which captures to 20 % of the market and they decide to
introduce a new drug into the market and they say that this new drug will be
more efficient the previous market and they say that this medicine will cross or
replace the old drug with 20% margin .In this hypothesis is old DRUG is
capturing 20% market and null hypothesis is that new drug will replace the old
drug.

(b) Stochastic Error:- In this error when we calculate the hypothesis we come to
know that both the hypothesis are correct but e have to run the test or
mathematical calculation to see which one is correct. For example:- Population
and is residual both are not correct but when we run the test it shows that both
are correct.

(c) Standard Error:- It is another form of standard deviation which shows the
rough estimate of the errors which happen while the regression test. For
example:- opening stock new price will be calculated on the basis of previous
close price which can be sometime error.

Question 5 .
Answer 5.
 So basically there are 4 things which is given in the first table that is age,
investment, household and transaction income.
 all the mean, standard deviation , standard deviation difference and
minimum and maximum all are given the evaluate the taste of the certain
group of people.
 The average is the highest for household income that is 74460 and they
will buy more magazines because in that house specifically more people
love to read.
 Standard deviation the level of variance in household income is the most
highest of all because they were already had average more than anyone.
 Minimum and maximum is also the highest in the household income and
if you observe there is 0 also in some of the groups and zero says that
there is no reaction or interest in that group or no change.
 In descriptive statistics there is more preference to broadband access and
most of the say yes to the concept and most of them are male.
 So the final point is that the publisher should focus on the household
incomes and try to provide household type of content in that magazine.

Question 3.
Solution 3 . (a)
 Source Sum of
Squares
df Mean Square F
Between
Error 300 3 100 0.80321285
Total 498 4 124.5

(a) null hypothesis is that the teachers will have difference in the teaching ability
alternate hypothesis is there no any difference.
(b)as we can see the F value is more the the crit value which is 4.76 so the
alternate hypothesis will not be accepted and null hypothesis will not the
rejected. That means teachers have different way of teaching

Question 7
solution 7

SUMMARY OUTPUT

Regression Statistics
Multiple R 0.56554
R Square 0.319836
Adjusted R
Square 0.28307
Standard
Error 0.324153
Observation
s 40

ANOVA
Significanc
  df SS MS F eF
0.91408 8.69930
Regression 2 1.828168 4 9 0.0008
0.10507
Residual 37 3.887792 5
Total 39 5.71596      

Coefficien Standard Lower Upper Lower Upper

  ts Error t Stat P-value 95% 95% 95.0% 95.0%
- 0.17430 0.31463 - 0.31463
Intercept -0.67984 0.49081 1.38514 4 -1.67431 4 1.67431 4
X Variable 3.82017 0.00049 0.07635 0.02342 0.07635
1 0.049891 0.01306 7 3 0.023429 3 9 3
X Variable 0.01465 0.006088 2.40653 0.02121 0.002315 0.02698 0.00231 0.02698
2 9 3 5 5 5