Professional Documents
Culture Documents
in
info.answersheets@gmail.com
+91 95030-94040
Business Statistics
Question 1.
Is the Location variable - a nominal, an ordinal, an interval or a ratio variable? How can
we code it so that we can use it in analysis (hint: binary)?
Which of the variables are determining Sales based on the above data? Take p < 0.05 for
interpreting your multiple regression. You can use output from Ms-Excel or other
software, but you are required to interpret it.
Based on the data in question 1 above, suppose that in order to plan the area (square
feet) of your new restaurant, you want to consider information about the area (square
feet) of existing restaurants. What is more appropriate in this case – mean, median or
mode? Calculate them and explain. What do you know about the symmetry of the
distribution of the Number of Items in Menu?
As an investor you do not want much variability in Sales. Calculate standard deviation
and inter-quartile-range of Sales and comment when they are useful as measures. What
values (maximum, minimum) of Sales lie within two standard deviations, assuming
normal distribution? (10 Marks)
Question 3.
Suppose you are a consultant hired to help NMIMS in understanding student perception
of quality of study materials and student assessment process at NMIMS.
a. What are the types of random sample survey, in general? What sampling method
would you recommend in this case for your study and why? (5 Marks)
b. Consider the scores from a multiple-choice test from a question bank (random), used
for student assessment. Explain Central Limit Theorem and its applicability to this case.
(5 Marks)
www.answersheets.in
info.answersheets@gmail.com
+91 95030-94040