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Allama Iqbal Open University AIOU Aissignment of Business Mathematics and Statistics (523) Semester: Autumn, 2013 Level: MBA

Allama Iqbal Open University AIOU Aissignment of Business Mathematics and Statistics (523) Semester: Autumn, 2013 Level:  MBA 

 

ALLAMA IQBAL OPEN UNIVERSITY, ISLAMABAD

(Department of Business Administration)

 

 

WARNING

  1. 1.         PLAGIARISM OR HIRING OF GHOST WRITER(S) FOR SOLVING THE ASSIGNMENT(S) WILL DEBAR THE STUDENT FROM AWARD OF DEGREE/CERTIFICATE, IF FOUND AT ANY STAGE.
  2. 2.         SUBMITTING ASSIGNMENTS BORROWED OR STOLEN FROM OTHER(S) AS ONE’S OWN WILL BE PENALIZED AS DEFINED IN “AIOU PLAGIARISM POLICY”.

 

Course: Business Mathematics and Statistics (523)      Semester: Autumn, 2013

Level:  MBA                                                                                 Total Marks: 100

 

ASSIGNMENT No. 1

 

Q.1   a)      A data processing manager purchased remote terminal processing time to run special jobs at two different computer “utilities”. She wishes to sign a long-term contract with the firm whose computer causes the least delay on the average. The numbers of minutes of delayed processing per week were obtained during trial periods with each firm and are provided below:

Compu Quick    210       15        47        93      104

Dial-a-Pute          18     341      523        25        19      293      115      203

Assuming that trial experience is representative of future performance, which firm should receive the business? Substantiate your answer with appropriate calculations.

b)      The length of life of 220 incandescent 60-watt lamps was obtained and yielded the frequency distribution shown in the table given below:

 

Class Limit                  Frequency

500-599                            3

600-699                            7

700-799                          14

800-899                          28

900-999                          64

1000-1099                          57

1100-1199                          23

1200-1299                          13

1300-1399                            7

1400-1499                            4

1.      Construct a histogram of these data, using a vertical scale for relative frequencies.

2.      Find the mean length of life

3.      Find the standard deviation                                                        (20)

 

Q.2   a)      A hard working student has 90 percent chance to pass the examination and that pass percentage of the university is 28 percent. Suppose 20% students work hard. What is the probability that a person who has passed has really worked hard?

b)      A sales person has 10 percent chance of making a sale to any customer who is called upon.  If 20 calls are made, what is the chance that (i) fewer than three sales are made (ii) At least one sale is made (iii) More than five are made?                                                                             (20)

 

Q.3   a)      The wrist circumference of adult males is normally distributed with a mean of µ = 6.85˝ and a standard deviation of σ = 0.40˝. One man is selected at random. Determine the probabilities for the following possible wrist sizes.

1.      Less   than 8.00˝

2.      Between 5.75˝ and 6.75˝

b)      The achievement scores for a college entrance examination are normally distributed with a mean of 75 and a standard deviation of 10. What fraction of the scores would you expect to lie between 70 and 90?      (20)

 

Q.4   The shopping times were recorded for 64 randomly selected customers for a local supermarket. The average and variance of the 64 shopping times were 33 minutes and 256, respectively. Estimate the true average shopping time per customer, with a confidence coefficient of 1-a = 0.90.                 (20)

 

Q.5   A vice-president for a large corporation claims that salesmen are averaging no more than 15 sales contacts per week.  (She would like to increase this figure) As check on her claim, 36 salesmen are selected at random, and the number of contacts is recorded for a single randomly selected week. The sample reveals a mean of 17 contacts and a variance of 9. Does the evidence contradict the vice-president’s claim?

Use a = 0.50.                                                                                               (20)

 

ASSIGNMENT No. 2

 

This assignment is a research-oriented activity. You are required to select one of the following topics according to the last digit of your roll number. For example, if your roll number is D-3427185 then you will select topic number 5 (the last digit). Visit any business/commercial organization and write a paper of about 1000 words on the topic allotted to you. Prepare two copies of this report; submit one copy to your tutor for evaluation and use other for presentation in the class, which will be held at the end of semester prior to your final examination.

(1)        Probability and their application in business

(2)        Prediction and regression

(3)        System of equations

(4)        Measures of relationship

(5)        Sampling methods and techniques in business statistics

(6)        Time series analysis

(7)        Estimation and hypothesis testing

(8)        Analysis of variance

(9)        Differentiation and their application in business.

(0)     Integration

 

WorkshoPS

The workshop presentations provide students opportunity to express their communication skills, knowledge & understanding of concepts learned during practical study assigned in assignment # 2. You should use transparencies and any other material for effective presentation. The transparencies are not the presentation, but only a tool; the presentation is the combination of the transparencies and your speech. Workshop presentation transparencies should only be in typed format.

 

GUIDELINES FOR WORKSHOP PRESENTATION:

  • Make eye contact and react to the audience. Don’t read from the transparencies or from report, don’t look too much at the transparencies (occasional glances are acceptable to help in recalling the topic to cover).
  • A 15-minute presentation can be practiced several times in advance, so do that until you are confident enough. Some people also use a mirror when rehearsing as a substitute for an audience.

 

WEIGHTAGE OF THEORY & PRACTICAL ASPECTS IN ASSIGNMENT # 2 & WORKSHOP PRESENTATIONS

 

Assignment # 2 & workshop presentations are evaluated on the basis of theory & its applicability. The weightage of each aspect would be:

Theory:                                                                             60%

Applicability (practical study of the organization):           40%

 

 

 

 

BUSINESS MATHEMATICS AND STATISTICS 523

COURSE OUTLINE

 

Unit No.1:       Descriptive Statistics

1.1              Introduction to Statistics

1.2              Role of Statistics in Business

1.3              Constructing a Frequency Distribution

1.4              Graphing Frequency Distribution

1.5              Measures of Central Tendency

1.6              Choosing Measures of Central Tendency

1.7              Percentiles, Deciles, and Quartiles

1.8              Measures of Dispersion

1.9              Range and Semi-Interquartile Range

1.10          Variance, Standard Deviation

1.11          Coefficient of Variation

1.12          Chebyshev’s Inequality

 

Unit No. 2:      Probability

2.1              Sample Spaces and Events

2.2              Definitions of Probability

2.3              Addition and Multiplication rules of Probability

2.4              Conditional Probability

2.5              Baye’s Theorem

2.6              Probability Distribution

2.7              Discrete Probability Distribution

2.8              Expected Values and Variance

2.9              Continuous Probability Distribution

2.10          Binomial Distribution

2.11          Poisson Distribution

2.12          Hypergeometric Distribution

2.13          The Normal Distribution

 

Unit No. 3:      Sampling and Sampling Distribution

3.1              Population and Sample

3.2              Parameters and Estimators

3.3              Reasons for Sampling

3.4              Random Sampling

3.5              Stratifies Random Sampling

3.6              Systematic Sampling

3.7              Cluster Sampling

3.8              Sampling Distributions

3.9              Point and Interval Estimation

3.10          Determination of Sample Size

Unit  No.4:      Testing of Hypothesis

4.1              Rationale of Hypothesis testing

4.2              Type of Errors

4.3              Testing Hypothesis about One Mean

4.4              Testing Hypothesis about Two Means

4.5              Testing Hypothesis about Proportions

4.6              Goodness of Fit

4.7              Contingency Table Analysis

 

Unit  No.5:      Regression and Correlation Analysis

5.1              Functional relationship between Two Variables

5.2              Scatter Diagram

5.3              Linear Correlation

5.4              Inferences Concerning Correlation Coefficient

5.5              Linear Regression Equation

5.6              Principle of Least Squares

5.7              Estimating Regression Equation

5.8              Coefficient of Determination

5.9              Multiple Regression and Correlation Analysis

 

Unit  No.6:      Time Series and Index Numbers

6.1              Introduction to Time Series

6.2              Components of Time Series

6.3              Measures of trend and Seasonal Variation

6.4              Time Series analysis in Forecasting

6.5              Defining and Index Number

6.6              Unweighted Aggregate Index

6.7              Price, Quantity and Value Indices

6.8              CPI and its Uses

 

Unit  No.7:      Set Theory and System of Linear Equations

7.1              Set Theory, Types of Sets

7.2              Methods of representing Sets

7.3              Venn Diagram

7.4              Solution of Linear Systems

7.5              System of Linear Equations and its Applications

7.6              Linear Inequalities

7.7              Quadratic Inequalities

 

Unit No. 8:      Matrices

8.1              Introduction to Matrix

8.2              Addition and Multiplication of Matrices

8.3              Row Operations

8.4              Determinant

8.5              Inverse of a Matrix

8.6              Systems of m Equations in n Unknowns

8.7              Applications of Matrices in Business

 

Unit No. 9:      Differentiation and Integration

9.1              Instantaneous rate of change

9.2              Rules of differentiation

9.3              Relative Maxima and Relative Minima

9.4              Test for determination of Maxima and Minima

9.5              Indefinite Integral

9.6              Definite Integral

9.7              Methods of Integration

9.8              Application in Business

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Punjab Education Foundation (PEF) SBSP QAT Model Papers 2014

Punjab Education Foundation (PEF) SBSP QAT Model Papers 2014

These test papers (PEF-QAT)have been displayed as model papers to practice and offer only the pattern and types of questions which could be asked in actual tests. The types of items asked in the tests have been focusing the content given in the books selected and distributed by Government of Punjab for the academic year 2013-14. These model papers will help the students to practice and perform better for actual QAT.”

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KPKPSC PMS Past Papers

KPKPSC PMS Past Papers

Accountancy and Auditing PI
Accountancy and Auditing PII
Agriculture
Applied Mathematics PI
Applied Mathematics PII
Arabic PI
Arabic PII
Botany PI
Botany PII
British History PI
British History PII
Business Administration
Chemistry PI
Chemistry PII
Computer Science
Constitutional Law
Economics PI
Economics PII
English Essay
English Literature PI
English Literature PII
English Precis and Composition
European History PI
European History PII
Forestry
Geography PI
Geography PII
Geology PI
Geology PII
GK PI
GK PII
GK PIII
History of Pakistan and India PI
History of Pakistan and India PII
History of USA
International Law
International Relation
Islamic History and Culture PI
Islamic History and Culture PII
Islamyat
Journalism
Law PI
Law PII
Mercantile Law
Muslim Law and Jurispundace
Pashto
Persian PI
Persian PII
Philosophy PI
Philosophy PII
Political Science PI
Political Science PII
Psychology PI
Psychology PII
Public Administration
Pure Mathematics PI
Pure Mathematics PII
Sociology
Statistics
Urdu PI
Urdu PII
Zoology PI
Zoology PII
 

KPKPSC PMS Past Papers

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