Statistics for Business Decisions — DU Bachelor of Management Studies Previous Year Question Papers

Use of Poisson distribution tab1e, Standard Normal table, rdistribution table is al1owed. The sales data of l5 employees h t'000 is provided below. Assist the management in identifuing th e top 25Yo employees as per sales transacted by them for offering them appropriate incentives and bottom 2594 employees for providing training support. BMS NEP (i) Compute the five-point summary for the above data. (ii) Draw a box plot diagram for the same. (iii) Compute Mean Deviation using Median (Both absolute and relative measures) (iv) Skewness based on observation of quartiles (18) (a) Which aspect of descriptive analysis comes to your mind on viewing the image below. Explain it briefly. If the three curves shown in the diagram pertain to sales for Product X, I and Z of a company (from Higher to lower) respectively, how do the sales of all three products differ? Differentiate between Point and Interval estimation for population mean. Provide a business scenario for each. (9+9=18) Food Point is in the business of providing tasty, fresh and healthy meal options to its customers. It has 10 fast food outlets in various cities in Rajasthan. The management wants to evaluate whether there is any association between sales and promotional expenses incurred by them. They also want to develop a regression model to predict sales. Data on sales fiom all the outlets is as follows : Sales (in t lakh) 20 30 22 25 27 30 32 38 42 28 You are required to find the correlation between sales and promotional expenses. Compute the regression equation to predict sales based on promotional expenses and predict the sales when promotional expenses are < 24.,000. Do you consider this regression model reliable to predict sales? Why or why not? (18) (a) A study was conducted to find the popularity of e-commerce platforms among women shoppers. One of the aspects evaluated was how much they would spend in a week. In a sample of400 women shoppers, the average amount spent in a week was found to be t3,400 with a standard deviation of r 1 ,100. (i) Use the given data to find out 950lo confidence interval for the weekly shopping amount (ii) Do you think the 99% confidence interval for the weekly shopping amount is larger? Justifu your answer. (b) The following data was collected while compiling the performance appraisal report of the Accounts department of a compary: Employee Performance grade (A+ beins the hishest sade) Calculate an appropriate measure of correlation for the above data and interpret its value. (9+9) (a) Define the Central Limit Theorem and explain its importance in business decision-making. A manager at a retail chain finds that the average daily sales at each store are t50,000 with a standard deviation of ( 10,000. If a sample of 64 stores is selected at random, use the Central Limit Theorem to find the probability that the average daily sales of the 64 stores are less than