BIRLA INSTITUTE OF TECHNOLOGY AND SCIENCE, PILANI

Hyderabad Campus
First Semester 2014-15
Mathematical and Statistical Methods (ECON F213)
Date: 31/10/14 Test - I Exam
Time: 1 Hour Total Marks: 20

Note: All questions are compulsory.

Q1. If the class mid points in a frequency distribution of age of a group of persons are 25, 32, 39,

46, 53 and 60, find: [1+1+1 M]

(i) The size of the class interval.

(ii) The class boundaries.
(iii) The class limits, assuming that the age quoted is the age completed on last birthday.

Q2. Industrial finance in India showed great variation in respect of sources during the First,
Second and Third plans. There were two main sources, viz., internal and external. The former
had two sources - depreciation, and free reserves and surplus. The later had three sources –
capital issues, borrowing and other sources.

During the first plan internal and external sources accounted for 62% and 38% of the total and in
this depreciation, fresh capital and other sources formed 29%, 7% and 10.6% respectively.

During the second plan internal sources decreased by 17.3% compared to the first plan and
depreciation was 24.5%. The external finance during the same period consisted of fresh capital
10.9% and borrowings 28.9%.

Compared to the second plan, during the Third plan external finance decreased by 4.4% and free
services and surplus formed 18.6%.

Tabulate the above information with the above details as clearly as possible observing the rules
of tabulation. [4 M]

Q3. a) Assuming that 50% of the population of a town takes tea and assuming that 100
investigators each take 10 individuals to find out if they take tea, how many investigators would
you expect to report that three people or less take tea? [3 M]

b) Comment on the following: For a binomial distribution, mean = 7, variance = 11 [2 M]

Q4. The following data relate to the performance of students in two Sections A and B in a half
yearly examination.

Section Mean Marks Standard Deviation

A 43 5
B 41 1.5

The minimum pass marks in the examination are 36. Which section needs greater attention for
preparing for the annual examination, if distribution of marks follows normal distribution? [4 M]

Q5. The mean age of a combined group of men and women is 30 years. If the mean age of the
group of men is 32 and that of the group of women is 27. Find out the percentage of the men and
women in the group. [3 M]

Q6. a) In a negatively skewed data, mean, median and mode calculated are: Mean = 25,
Median = 28 and Mode = 22. Do you agree?
b) Mention a technique to convert skewed data to approximately normal. [1/2+1/2M]