NMIMS APRIL 2020 ASSIGNMENT - BUSINESS STATISTICS

BUSINESS STATISTICS

TABLE GIVEN BELOW

Mfr 1- Life of bulb in hrs

Mfr 2- Life of bulb in hrs

• 684
• 819
• 831
• 907
• 859
• 952
• 893
• 994
• 922
• 1016
• 939
• 1038
• 972
• 1096
• 1016
• 1153
• 697
• 836
• 835
• 912
• 860
• 959
• 899
• 1004
• 924
• 1018
• 943
• 1072
• 977
• 1100
• 1041
• 1154
• 720
• 888
• 848
• 918
• 868
• 962
• 905
• 1005.

1. A sample of 20 bulbs each was picked from the manufacturing facility of two bulb manufacturers &ndash Mfr 1 and Mfr 2. The table above provides the life of bulbs for the two manufacturers. You are a quality testing person and are presented with this data:

i. Which manufacturer has better performance on the life of bulbs What are the different measures you can consider to calculate performance

ii. How would you assess the variability in performance of the two bulb manufacturers

iii. Would your answer to the first question change based on your assessment of the variability in performance of bulb manufacturers

2. For the data in the table below:

i. What do the correlation coefficients of 1, shaded in yellow, indicate

ii. The highest correlation coefficient is 0.84, shaded in green. What can you infer from that score about the relationship between the two s

iii. The two lowest correlation coefficients are 0.06 and -0.06. What can you infer from that score about the relationship between the two s

correlation coefficient

Assets

Expense Ratio

Return 2006

3-Year Return

5-Year Return

Assets

1

Expense Ratio

-0.29

1.00.

Return 2006

0.08

-0.13

1.00

3-Year Return

0.07

-0.11

0.70

1.00

5-Year Return

0.06

-0.06

0.59

0.84

1.00

3. The Indian cricket team is visiting New Zealand to play a test series comprising five matches. In each match, assume that the Indian team has a 70% chance of winning. Further, assuming that the matches are independent of each other, what is the probability that:

a. The Indian team will win the series

b. The team will win all five matches, and that the team will lose all.