IGNOU MS-8 DEC 2019

MS-08: Quantitative Analysis for Managerial Applications

1. &ldquoExecutives at all levels in business and industry came across the problem of making decision at every stage in their day-to-day activities&rsquo&rsquo. Explain the statement along with the advantages of quantitative approach to management.

2. &ldquoA good measure of central tendency should possess certain properties&rsquo&rsquo. What are these properties. Name the various measures of central tendency. Explain any two of them in brief.

3. What do you understand by the term correlation Explain different types of association between s. Also, explain how the study of correlation helps in forecasting demand of a product.

4. In a University, 30% of the students doing a course in statistics use the book authored by A1 45% use the one authored by A2 and 25% use the one authored by A3. The proportion of students who learnt about each of these books through their teachers are: A1 0.50, A20.30 and A30.20. One of the students selected at random revealed that he learnt about the book he is using through his teachers. Find the probability that the book used is authored by A2.

5. Suppose two makes of electric bulbs A and B are tested and observed. Bulbs of make A exhibit mean life of 900 hrs. and standard deviation of 30 hrs. Those of make B show mean life of 860 hrs. and standard deviation of 20 hrs. Find the probability that the mean life based on a random sample of 40 bulbs of make A being, say, 28 hours less than the mean life of bulbs of make B based on a random sample of 30 bulbs.