a. Central tendency b. Reasons for need for sampling c. Mention the significance of Central Limit Theorem. d. Concept of Standard error. e. Characteristics of Hypothesis. f. Concepts of Testing of hypothesis. g. Type I and Type II errors. h. Distribution-free tests. i. Classification of multivariate techniques.
2. Describe, in brief, the layout of a research report, covering all relevant points. 3. Applications and uses of computers in Commerce, Banks and Financial institutions and Management. 4. Steps in developing skills for researchers in computer data analysis. 5. Limitations of computer based analysis. 6. Write short notes (any two): (a) Index numbers, (b) Time series analysis, (c) Chi-squire test, (d). Correlation, (e) Regression, (f) Dispersion, (g) Standard deviation, (Standard error)
Math1 A market research survey in which 64 consumers were contacted states that 64 per cent of all Consumers of a certain product were motivated by the products advertising. Find the confidence limits for the proportion of consumers motivated by advertising in the population, given a confidence level equal to 0.05.
Sample of sales in similar shops in two towns are taken for a new product with the following results:
Town Mean Variance Size of sample A 57 5.3 5 B 61 4.8 7
Is there any evidence of difference in sales in the means of two samples? Use 5 per cent level of significance for testing this difference between the means of two samples.
Solution1: The given information can be written as under:
N = 64; p = 64% = 0.64 q = 1 - p = 1-0.64 = 0.36 and the standard variant (z) for 95 per cent confidence is 1.96 (as per the normal curve area table). Thus, 95 per cent confidence interval for the proportion of consumers motivated by advertising in proportion is: = 0.64 +_ (1.96) (0.06) = 0.64+_ 0.1176 Thus, lower confidence limit is 0.64 0.1176 = 0.5224 = 52.24% and upper confidence limit is 0.64 + 0.1176 = 0.7576 = 75.76%. Ans.
Sample of sales in similar shops in two towns are taken for a new product with the following results: Town Mean Variance Size of sample A 57 5.3 5 B 61 4.8 7
Is there any evidence of difference in sales in the means of two samples? Use 5 per cent level of significance for testing this difference between the means of two samples.
Solution: Taking the null hypothesis that the means of two populations do not differ we can write:
H o : 1 = 2
H a : 1
2 and the given information as follows (Table 1):
Sample from town A as sample one n 1 = 5 Sample from town B as sample two n 2 = 7
Since in the given question variances of the population are not known and the size of the sample is small, we shall use t-test for difference in means, assuming the populations to be normal and can work out the test statistic t as under:
Degrees of freedom = (n 1 + n 2 2) = 5+7-2 = 10.
As H a is two-sided, we shall apply a two-tailed test for determining the rejection regions at 5 per cent level which come to as under, using table of t- distribution for 10 degrees of freedom:
R : t > 2.228
The observed value of t is -3.053 which falls in the rejection region and thus, we reject to H o and conclude that the difference in sales in the two towns is significant at 5 per cent level.