Answers for NMIMS September 2019
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assignments NMIMS assignments September 2019
NMIMS
Global Access
School
for Continuing Education (NGA-SCE)
Course:
Business Statistics
Internal
Assignment Applicable for September 2019 Examination
1. What is sampling
distribution? An automobile manufacturer claims that a particular model gets 28
KM per liter of petrol, but the Environmental Protection Agency, using a sample
of 50 automobiles of this model, finds the sample mean to be 26.8 km/ltr. From
previous studies, the population standard deviation is known to be 5 km/ltr.
Could we reasonably expect (within 2 standard errors) that we could select such
a sample if indeed the population mean
is 28 km/ltr? Justify. (10 Marks)
2. Raj studios a Tollywood
casting company, is selecting a group of extras for a movie. The ages of the
first 30 men to be interviewed are.
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50
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56
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55
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54
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55
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61
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49
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52
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57
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60
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51
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59
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56
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57
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56
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62
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52
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54
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55
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49
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52
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61
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60
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51
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57
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56
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59
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52
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54
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49
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The director of the movie wants
men whose ages are grouped around 50 years. The
director suggests that a
standard deviation of 3 years would be acceptable. Does this
group of extras qualify to the
director’s requirement? (10 Marks)
3. Historically, diesel has
mostly been cheaper than petrol in South Africa, though this has not always
been the case, and not a trend seen around the world. One of the key
differences in the pricing of diesel versus petrol, is that diesel prices
reflect wholesale prices, not the price you would pay at the pumps. For
example, the wholesale inland diesel price for August was at R10.96 at the
beginning of the month, while Caltex’s retail version – Caltex 50 diesel with
Techron – sells at R11.33 per litre. Over the past decade, both the petrol and
diesel prices have seen some significant fluctuations, but petrol (95 grade)
has seen the biggest overall increase, having jumped 75.4% since 2006.
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