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Answer Sheet of this Question paper
PRAKASH - 09741410271/ 08722788493
Business Statistics
1.
The sample data from a research survey conducted in various countries on the
amount of time 3-5 year-old children spent alone with their fathers each day is
as follows:
|
Country
|
Time with Dad (minutes)
|
|
Bangladesh
|
30
|
|
Bhutan
|
46
|
|
China
|
54
|
|
Nepal
|
50
|
|
Pakistan
|
46
|
|
Nigeria
|
42
|
|
Korea
|
46
|
|
Russia
|
42
|
|
India
|
50
|
For
the above sample, determine the following measures:
a.
The mean
b.
The standard deviation
c.
The mode
d.
The 75th percentile
Based
on your calculations comment on the father-children relationship.
2.
‘Prince’ a chaiwala at Mumbai Central station believes that the sales of tea at
his tea shop depends upon the weather. He has taken a sample of a week’s data.
Below you are given the results of the sample.
|
Cups Sold
|
Temperature
|
|
350
|
50
|
|
200
|
60
|
|
210
|
70
|
|
100
|
80
|
|
80
|
90
|
|
70
|
100
|
|
50
|
110
|
a.
Which variable is the dependent variable?
b.
Compute the least squares estimated line.
c.
Is there a significant relationship between the sales of coffee and
temperature?
e.
Predict sales of a 95 degree day.
3.
According to one of the recent study published in an International report, the
cost of medical malpractice in the United States is USD 55.6 billion a year,
which is approximately 2.4 percent of US annual health-care spending. An
earlier research report published in 2011, in the New England Journal of
Medicine revealed that, during the period 1991 to 2005, 7.4 percent of all
physicians licensed in the US had a malpractice claim. These staggering numbers
not only contribute to the high cost of health care, but the size of successful
malpractice claims also contributes to high premiums for medical malpractice
insurance. The table below contains a sample of data set of claim payments made
in a year’s time and other information about the claimant.
|
Amount (in USD)
|
Age
|
Marital Status
|
Insurance type
|
Gender
|
|
2
|
45
|
Single
|
Private
|
Male
|
|
5
|
34
|
Married
|
Medicare
|
Male
|
|
3.5
|
29
|
Married
|
Private
|
Female
|
|
160
|
46
|
Single
|
Workers compensation
|
Male
|
|
4
|
56
|
Married
|
Private
|
Female
|
|
155
|
45
|
Single
|
Private
|
Female
|
|
45
|
44
|
Married
|
Medicare
|
Male
|
|
3
|
56
|
Single
|
No insurance
|
Male
|
|
20
|
43
|
Single
|
Private
|
Male
|
a.
Using descriptive statistics explore claim payment amounts, and identify
factors that appear to influence the amount of the payment.
b.
Do a correlation analysis between ‘Amount’ and ‘Age’ and interpreted the
coefficient of correlation.
Need
Answer Sheet of this Question paper
PRAKASH - 09741410271/ 08722788493
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