techniques, Q. 1 a) Describe the important quantitative techniques used in public system, Applied Statistics

techniques, Applied Statistics

Assignment Help:

Q. 1 a) Describe the important quantitative techniques used in public system management. (10)
b) Do you think the day will come when all decisions are made with the assistance of quantitative methods? Give appropriate reasons and examples in support of your answer. (10)

Q. 2 a) Solve using Gauss-Jordan elimination (10)
2x1 + 4x2 -10x3 = -2
3x1 +9x2 - 21X3 = 0
x1 + 5x2 -12x3 = 1
b) Solve the following system equation by Cramer’s rule (10)
X1 + X2 = -1
2X1 - X2 = 7

Q. 3 a) Discuss basic concepts of a matrix and the methods of representing large quantities of data in matrix form. How can we apply matrix algebra in various decision models in business and management? (20)
b) In an economy there are two sectors A and B, the following table gives the supply and demand position of these in million rupees;

Producer Consumer Final Demand Gross Output
A B
A 15 10 10 35
B 20 30 15 65

Determine the total output, if the demand changes to 12 for A and 18 for B.
Q. 4 The following data pertain to the demand for a product in thousand of units and price charged I in rupees in eight different locations. (20)
PRICE DEMAND
14 150
12 180
15 112
13 140
18 86
15 124
9 223

a) Obtain the line of best fit.
b) Determine the coefficient of correlation
c) Interpret your results
d) Predict the demand if the price is Rs.10.

Q. 5 What are the best sources of data collection for the following? (20)
a) A bank loan officer wishes to forecast the economy of the country in which the bank operates.
b) A research project has the purpose of identifying the labor issues of concern to a union.
c) A manager must determine the best site for a convenience store in an urban area.
d) Median weekly earnings of full-time salaried workers for the range 1995-2000.
e) Annual sales of the top ten fast-food companies.
f) Number of airplane trips made by college students.

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages

techniques, Applied Statistics

Related Discussions:- techniques

Determine the effects of stopping smoking on weight gain, Determine the Eff...

Break-even analysis, a. How can break-even analysis be used in selecting a ...

Quote, How much would u charge for 4 questions

Eco203, Waht is the product of £ x

Practice-Based Evidence, how to analyzePractice-Based Evidence Back to the ...

Carry out a t-test, Suppose that before the minimum wage law change, the un...

Time series, merits and demerits of methods to determin trends

Types of averages, The following are the various types of common averages u...

Determine the closed loop speed transfer function, In the case of permanent...

#regression, #regression line drawn as Y=C+1075x, when x was 2, and y was 2...

Write Your Message!

Featured Services

Online Tutoring

Project Development

Exam Preparation

Course Help

Assignment Help

Popular Subjects

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT