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.

Related Discussions:- techniques

..National Account- Descriptive Statistics, A country''s national accounts ...

A country''s national accounts are assumed to look as follows: GDP 1180 VAT and taxes 140 Commodity subsidies 60 Raw material and consumables 530 1. Calculate GVA 2. Calculate t

Evaluation tracking system, BCBSRI was able to reduce MSD related Workers C...

BCBSRI was able to reduce MSD related Workers Compensation cases with lost workdays by implementing a New Ergonomic Program in March 2000 and increasing workstation evaluations. Ex

Statistics, just wondering what would be the cost to complete a stats assig...

just wondering what would be the cost to complete a stats assignment

Simple random sampling, Simple Random Sampling In Simple Random Sampli...

Simple Random Sampling In Simple Random Sampling each possible sample has an equal chance of being selected. Further, each item in the entire population also has an equal chan

Simple linear regression, Simple Linear Regression   While correlati...

Simple Linear Regression   While correlation analysis determines the degree to which the variables are related, regression analysis develops the relationship between the var

Analysis of variance for the data, Analysis of Variance for the data: ...

Analysis of Variance for the data: Draw a random sample of size 25 from the following data : (a) With Replacement and   (b) Without Replacement and obtain Mean and Varia

Gcnnv, Ask questiovdgngddndgdngngngngn #Minimum 100 words accepted#

Ask questiovdgngddndgdngngngngn #Minimum 100 words accepted#

Utility index , If the economy does well, the investor's wealth is 2 and if...

If the economy does well, the investor's wealth is 2 and if the economy does poorly the investor's wealth is 1. Both outcomes are equally likely. The investor is offered to invest

Significance of correlation, Significance of Correlation The study of c...

Significance of Correlation The study of correlation is of immense use in practical life. Correlation analysis contributes to the understanding of economic behavior, aids in lo

Correlation, Correlation The correlation is commonly used and a useful...

Correlation The correlation is commonly used and a useful statistic used to describe the degree of the relationships between two or more variables. Pearson's correlation refle

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd