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Quantitative Techniques for Managers

Assignment No.I

Assignment Code: 2011GM03A1Last Date of Submission: 31st March 2011
Maximum Marks:100

Attempt all the questions. All the questions are compulsory and carry equal marks.


Ques.1In a certain examination there were 100 candidates of whom 21 failed, 6 secured distinctions, 43 were placed in third division and 18 in the second division. It is known that at least 75% marks are required for distinction, at least 40% for passing, at least 50% for second division and at least 60% for first division.

Calculate the median of the distribution of marks

Ques.2The pass result of 50 students who took a class test is given below:

|Marks |40 |50 |60 |70 |80 |90 | |No. of |8 |10 |9 |6 |4 |3 | |Students | | | | | | |

If the mean mark for all the students was 51.6, find the mean marks of students who failed

Ques.3Define skewness. When does a distribution get positively and negatively skewed?

Ques.4A Wholesale distributor of a product finds that the annual demand for a product is normally distributed with the mean of 120 and the standard deviation of 16. If he orders only once a year, what quantity should be ordered to ensure that there is only a 5 percent chance of running short (Area between (= 0 and (=1.64 is 0.45, where ( in the standard normal variate).


Case Study

A business graduate very much wants to get a job in any one of the top 10 accounting firms. Applying to any one of these companies requires a lot of effort and paperwork and is therefore costly. She estimates the cost of applying to each of 10 companies and the probability of getting a job offer there. These data are tabulated below. The tabulation is in the decreasing order of cost.

Company |1 |2 |3 |4 |5 |6 |7 |8 |9 |10 | |Cost |$870 |$600 |$540 |$500...
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