NMIMS Global Access
School for Continuing Education (NGA-SCE)
Course: Business Statistics
Internal Assignment Applicable for April 2019 Examination
Assignment Marks: 30
Question 1. Consider the following data of 26 restaurants serving in Mumbai.
School for Continuing Education (NGA-SCE)
Course: Business Statistics
Internal Assignment Applicable for April 2019 Examination
Assignment Marks: 30
Question 1. Consider the following data of 26 restaurants serving in Mumbai.
|
Restaurant
|
Location
|
Area
|
Number of
|
Sales in
|
|
|
|
(square feet)
|
items in menu
|
crores
|
|
A
|
Busy
|
2500
|
35
|
4.1
|
|
B
|
Less busy
|
50
|
45
|
5.1
|
|
C
|
Busy
|
450
|
36
|
4.3
|
|
D
|
Less busy
|
700
|
45
|
4.9
|
|
E
|
Busy
|
700
|
40
|
4.7
|
|
F
|
Less busy
|
400
|
25
|
2.6
|
|
G
|
Busy
|
800
|
50
|
5.2
|
|
H
|
Less busy
|
300
|
20
|
2.2
|
|
I
|
Less busy
|
350
|
34
|
3.8
|
|
J
|
Busy
|
700
|
42
|
4.1
|
|
K
|
Busy
|
450
|
34
|
3.9
|
|
L
|
Less busy
|
200
|
12
|
1.6
|
|
M
|
Busy
|
500
|
30
|
2.7
|
|
N
|
Less busy
|
400
|
37
|
3.9
|
|
O
|
Busy
|
500
|
35
|
3.1
|
|
P
|
Less busy
|
600
|
32
|
3
|
|
Q
|
Busy
|
800
|
45
|
4.9
|
|
R
|
Less busy
|
400
|
35
|
3.8
|
|
S
|
Busy
|
650
|
40
|
4
|
|
T
|
Less busy
|
400
|
25
|
2.3
|
|
U
|
Less busy
|
900
|
52
|
5.1
|
|
V
|
Busy
|
500
|
42
|
4.2
|
|
W
|
Busy
|
350
|
40
|
4.1
|
|
X
|
Less busy
|
300
|
25
|
2.2
|
|
Y
|
Busy
|
700
|
30
|
3
|
|
Z
|
Less busy
|
300
|
20
|
2.1
|
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.
Is your regression model statistically significant? How is Adjusted R2 different from R2?
Suppose, you want to open a new restaurant. Given that this new restaurant of 1000 square
feet will be located in a busy location and will have 40 items in its menu - what would be
the predicted sales? (10 Marks)
Question 2.
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)
***************
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.
Is your regression model statistically significant? How is Adjusted R2 different from R2?
Suppose, you want to open a new restaurant. Given that this new restaurant of 1000 square
feet will be located in a busy location and will have 40 items in its menu - what would be
the predicted sales? (10 Marks)
Question 2.
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)
***************
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