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

#title., 1 Se toma una muestra de 81 observaciones con una desviación están...

1 Se toma una muestra de 81 observaciones con una desviación estándar de 5. La media de la muestra es de 40. Determine el intervalo de de confianza de 99% para la media

Properties of standard deviation, PROPERTIES   1. The value of stand...

PROPERTIES   1. The value of standard deviation remains the same if, in a series each of the observation is increased or decreased by a constant quantity. In statistical lan

Simple linear regression, For each of the following situations choose the s...

For each of the following situations choose the statistical model that you find to be the most appropriate. Justify your choice. a) We are interested in assessing the effects of

Evaluate the standard deviation, Use only the rare event rule, and make sub...

Use only the rare event rule, and make subjective estimates to determine whether events are likely. For example, if the claim is that a coin favors heads and sample results consis

Transformation of data, PCA is a linear transformation that transforms the ...

PCA is a linear transformation that transforms the data to a new coordinate system such that the greatest variance by any projection of the data comes to lie on the first coordinat

General algebraic and quantitative expressions, Read the following data on ...

Read the following data on the economy of Angoia and answer/respond to the questions/instructions that follow. Unless otherwise stated, the monetary figures are in real billions o

Regression coefficient, Regression Coefficient While analysing regressi...

Regression Coefficient While analysing regression in two related series, we calculate their regression coefficients also. There are two regression coefficients like two regress

Determine percent of population in city - bayes theoram, (1) Assume we cat...

(1) Assume we categorize voters in a city as havingless educationand those havingmoreeducation. Those with less education have less than a college degree; those with more education

How many possible latin square designs are there, In an agricultural experi...

In an agricultural experiment, we wish to compare the yields of three different varieties of wheat. Call these varieties A, B and C. We have a ?eld that has been marked into a 3 *

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