MS-08 FREE SOLVED ASSIGMENT Quantitative Analysis

for Managerial SEE BELOW Summary

1. A small accounting firm pays each of its five clerks Rs 25000, two junior accountants
Rs
60000, and the firm’s owner Rs 255000. What is the mean salary paid at this firm? How
many of the employees earn less than the mean? What is the median salary?

Answer
mean= (25000*5+60000*2+255000)/8=62500
the employees earn less than the mean=7
median=8/2=4th position mean's 25000

2. Nonstandard dice can produce interesting distributions of outcomes. You have two
balanced,
six-sided dice. One is a standard dice, with faces having 1,2,3,4,5 and 6 spots. The other
die
has three faces with 0 spots and three faces with 6 spots. Find the probability distribution
for the total number of spots Y on the up-faces when you roll these two dice.
Answer
One die will have a 1/6 chance of rolling a 1, 2, 3, 4, 5 or 6.
The other die will have a 1/2 chance of rolling a 0 and 1/2
chance of rolling a 6.

This divides the total into two groups of total spots.

1: Die two has no spots, so the total is 1, 2, 3, 4, 5, or 6.
2: Die two has six spots, so the total is 7, 8, 9, 10, 11, or 12.
Each of the numbers in each of the choices (1 or 2) is equally
likely, and being in 1 or 2 is equally likely, so all of the
numbers from 1 to 12 is equally likely. This means that they
each have a probability of 1/12.

What this comes down to is Y is in {1,2,3,4,5,6,7,8,9,10,11,12},

all with equal chance so occuring. As we just stated, the
probability of each is 1/12.

4Question
Please answer the below mentioned question, as i m unable to find the answer of it anywhere.

A study of iron deficiency among infants compared samples of infants following different
feeding regimens. One group contained breast-fed infants, while the children in other group
were fed a standard baby formula without any iron supplements. Here are summary results
on blood hemoglobin levels at 12 months of age.

Group n mean S
Breast-fed 23 13.3 1.7

Formula 19 12.4 1.8

a. Is there significant evidence that the mean hemoglobin level is higher among breastfed
babies? State null hypothesis and alternate hypothesis and conduct a t-test.
b. Give a 95% confidence interval for the mean difference in hemoglobin level between
the two populations of infants.
Answer
I would calculate the standard deviation on the entire set of
numbers. I would then average the breast fed and the formula
groups separately. Using the standard deviation, divide the
difference in the average by that number. The would give you
how many standard deviations there are between the two.

Using a one-sided normal table, you can look up the number of standard deviations you have
as a probability of getting this
difference.

a. The null hypothesis is that the mean globulin level is

higher among breast-fed babies. The alternative hypothesis
is that there is that there is no difference.

b. Find a one side normal table and look up the probability.

In case you need a table, here it is.

http://www.math.unb.ca/~knight/utility/NormTble.htm

Also, 95% puts you at about 1.645 standard deviations.

##################################################
######################################
5. What do you mean by a seasonal index? Explain ratio to link relatives method
of measuring seasonal variations.
Answer.

Seasonal Indices are a compilation of daily seasonal values for individual commodities. A
seasonal index rating is calculated for each of the average 251 trading days per year
using the vast data resources that are provided with Unfair Advantage. Some of the
resulting indices are virtually mirror images of the recent past, while others reflect only
subtle seasonal effects. Seasonal indices offer a way to combine seasonal information
on commodity data with daily chart analysis to promote a better understanding of price
movement.

The seasonal index represents a + or - 3 sigma confidence interval over time. It reflects
and reports upon the entire history of the series given as input in a cumulative manner. In
the non-amplified form, the index is painted a day at a time as more input contributes to
the seasonal pattern. The index may become more and more dampened as more
information is supplied. There is no attempt to use the final year in the seasonal
waveform to explain the past. In other words, the seasonal wave for of, say, a ten to 20
year series can be used as an input to forecast future events or simulate past events
without bias where any then-current reading does not and cannot affect earlier seasonal
patterns. Improved results may appear when longer term computed input is prepared
using the "detrend" option.

Ratio to link relatives method of measuring seasonal variations.