Ms-8

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.