The bulbs manufactured by a company gave a mean life of 3000 hours with standard deviation of 400 hours. If a bulb is selected at random, what is the probability it will have a mean life less than 2000 hours?

Question:

1) Calculate the probability.

2) In what situation does one need probability theory?

3) Define the concept of sample space, sample points and events in context of probability theory.

4) What is the difference between objective and subjective probability?

CASE STUDY : 2

The price P per unit at which a company can sell all that it produces is given by the function P(x) = 300 — 4x. The cost function is c(x) = 500 + 28x where x is the number of units produced. Find x so that the profit is maximum.

Question:

1) Find the value of x.

2) In using regression analysis for making predictions what are the assumptions involved.

3) What is a simple linear regression model?

4) What is a scatter diagram method?

CASE STUDY : 3

Mr Sehwag invests Rs 2000 every year with a company, which pays interest at 10% p.a. He allows his deposit to accumulate at C.I. Find the amount to the credit of the person at the end of 5th year.

Question :

1) What is the Time Value of Money concept.

2) What do you mean by present value of money?

3) What is the Future Value of money.

4) What the amount to be credited at the end of 5th year.

CASE STUDY : 4

The cost of fuel in running of an engine is proportional to the square of the speed and is Rs 48 per hour for speed of 16 kilometers per hour. Other expenses amount to Rs 300 per hour. What is the most economical speed?

Question:

1) What is most economical speed?

2) What is a chi-square test?

3) What is sampling and what are its uses.

4) Is there any alternative formula to find the value of Chi-square?

...Lego CaseStudyAnalysis
Pallav Mathur
Q 1. What led the LEGO group to the edge of bankruptcy by 2004?
By the end of 2003 Lego was already facing crisis owing to dipping profits and declining market pool for toys. Lego had planned to expand into markets beyond building toys and needed huge investment to be made in it. But it found difficult to compete when fad players and other toy manufacturers were giving them stiff competition in a market that already was supposed to be giving lesser returns every year. This was mostly due to factors out of the control of Lego and other toy companies because, firstly, a research suggested that the demand of children who were primary customers of these companies were changing rapidly to fashionable and electronic products. They had lesser attention span and looked for instant gratification, and were lesser inclined to play with toys involving physical activity. Also Lego found it difficult to be competitive when its manufacturing base was in European markets while toy companies were moving to Far East and Middle East where labor was comparatively cheaper.
Management move by Lego: After Lego realized that it had to correct its declining profits, it decided to venture into new markets and imitate the success of Disney which had created a brand value for its customers through theme parks, accessories media and video games. Lego created an amusement park called LegoLand Windsor, came up with video...

...
Unit 5 – RegressionAnalysis
Mikeja R. Cherry
American InterContinental University
Abstract
In this brief, I will demonstrate selected perceptions of the company Nordstrom, Inc., a retailer that specializes in fashion apparel with over 12 million dollars in sales last year. I will research, review, and analyze perceptions of the company, create graphs to show qualitative and quantitative analysis, and provide a summary of my findings.
Introduction
Nordstrom, Inc. is a retailer that specializes in fashion apparel for men, women and kids that was founded in 1901. The company is headquartered in Seattle, Washington with over 61,000 employees world-wide as of February 2, 2013. (Business Wire, 2014)
Nordstrom, Inc. offers on online store, e-commerce, retail stores, mobile commerce and catalogs to its consumers. It operates 117 full-line stores within the United States and 1 store in Canada, 167 Nordstrom Rack stores, 1 clearance store under the Last Chance Banner, 1 philanthropic treasure & bond store called Trunk Club and 2 Jeffrey boutiques. The option of shopping online is also available at www.nordstrom.com along with an online private sale subsidiary Hautelook. They have warehouses, also called fulfillment centers, which manages majority of their shipping needs that are located in Cedar Rapids, Iowa. (Business Source Premier, 2014)
Nordstrom, Inc. continues to make investments in their e-commerce...

...the regression R2 because
(a) ln(Y) may be negative for 0 < Y < 1.
(b) the TSS are not measured in the same units between the two models.
(c) the slope no longer indicates the effect of a unit change of X on Y in the log-linear
model.
(d) the regression R2 can be greater than one in the second model.
1
(v) The exponential function
(a) is the inverse of the natural logarithm function.
(b) does not play an important role in modeling nonlinearregression functions in econometrics.
(c) can be written as exp(ex ).
(d) is ex , where e is 3.1415...
(vi) The following are properties of the logarithm function with the exception of
(a) ln(1/x) = −ln(x).
(b) ln(a + x) = ln(a) + ln(x).
(c) ln(ax) = ln(a) + ln(x).
(d) ln(xa) = aln(x).
(vii) In the log-log model, the slope coefficient indicates
(a) the effect that a unit change in X has on Y.
(b) the elasticity of Y with respect to X.
(c) ∆Y/∆X.
(d)
∆Y
∆X
×
Y
X
(viii) In the model ln(Yi ) = β0 + β1 Xi + ui , the elasticity of E(Y|X) with respect to X is
(a) β1 X
(b) β1
(c)
β1 X
β0 +β1 X
(d) Cannot be calculated because the function is non-linear
(ix) Consider the following least squares specification between testscores and the studentteacher ratio:
TestScore = 557.8 + 36.42ln(Income).
According to this equation, a 1% increase income is associated with an increase in test
scores of
(a) 0.36 points
(b) 36.42 points
(c) 557.8 points
(d) cannot be determined from the information given here...

...RegressionAnalysis Exercises
1- A farmer wanted to find the relationship between the amount of fertilizer used and the yield of corn. He selected seven acres of his land on which he used different amounts of fertilizer to grow corn. The following table gives the amount (in pounds) of fertilizer used and the yield (in bushels) of corn for each of the seven acres.
|Fertilizer Used |Yield of Corn |
|120 |138 |
|80 |112 |
|100 |129 |
|70 |96 |
|88 |119 |
|75 |104 |
|110 |134 |
a. With the amount of fertilizer used as an independent variable and yield of corn as a...

...1. Business overview & Cost analysis
In order to compete with other milkshake shacks on the same beach of the resort, the small shake in my shack is priced at $5.00, a medium shake costs $7.00, and a large shake is priced at $10.00. My shack offers classic flavors of chocolate, strawberry and vanilla, but also caters to eclectic tastes with raspberry, mocha, Oreo shakes and many other different flavors. I use chocolate, strawberry and other flavored syrup to provide the flavor chosen by customers. The data for milkshake costs is base on the study of existing restaurants, industry reports and research on expected minimum costs to be incurred in operating the business.
The cost of materials needed to make milkshakes is shown in table 1.
Table 1 Variable and Fixed costs to make milkshakes
Small (8oz.size) Medium (10oz.size) Large (12oz.size)
Variable costs
Whole milk ($15 for a 5 gallon=740oz.) 2oz. 2.5oz. 3oz.
Cream ($20 for 1 gallon = 128oz.) 2oz. 2.5oz. 3oz.
Sugar ($10 for a 15 lb.bag=30cups) 1/4cups 1/2cups 3/4cups
Flavored syrup ($13.5 for a 96oz. bottle ) 0.5oz. 1oz. 1.5oz.
Vanilla ice cream ($24 for 600oz.) 6oz. 8oz. 10oz.
Whipped cream ($2.50 for 6.5oz. can) 0.15oz. 0.2oz. 0.25oz.
Straws 5” Color Flex Straws
0.05/piece 6” Color Flex Straws
0.06/piece 8” Color Flex Straws
0.08/piece
Cups 8oz. cups
0.4/piece 10oz. cups
0.5/piece 12oz.cups
0.6/piece
Fixed costs
Shack rental...

...l
RegressionAnalysis
Basic Concepts & Methodology
1. Introduction
Regressionanalysis is by far the most popular technique in business and economics for
seeking to explain variations in some quantity in terms of variations in other quantities, or to
develop forecasts of the future based on data from the past. For example, suppose we are
interested in the monthly sales of retail outlets across the UK. An initial dataanalysis would
summarise the variability in terms of a mean and standard deviation, but the variation from
outlet to outlet could be very large for a variety of reasons. The size of the local market, the
size of the shop, the level of competition, the level of advertising, etc.. would all influence the
sales volume from outlet to outlet. This is where regressionanalysis can be useful. A
regressionanalysis would seek to model the influence of these factors on the level of sales. In
statistical terms we would be seeking to regress the variation in sales ⎯ the dependent
variable ⎯ upon several explanatory variables such as advertising, size, etc..
From a forecasting point of view we can use regressionanalysis to develop predictions. If we
were asked to make a forecast for the monthly sales of a proposed new outlet in, say, Oxford,
we can simply compute the average outlet sales and put this...

...
CASESTUDY NO.1
Mary Roberts had been with the company three years when she was promoted to manager of the tax department which was part of the controller’s division.Within four months she became a supervisor of ten staff accountants to fill a vacancy.Her superior believed her to be most qualified individual to fill the position.
Many senior employees resent her that she so young to fill the position and what made them more upsets was the fact tax managers did not discuss the promotion.
QUESTION:
1.What can Mary Roberts do about the resentful senior employees?
Mary should tackle this head on she should be direct and assertive about her expectation and when people are crossing the line that means she need to be clear with people when their behavior doesn’t meet her standards and she need to be willing To set and enforce consequence if it doesn’t change
2. Can higher management do anything to help Roberts make the transitions to greater responsibility?
Yes, because they are the one who put her in that position of course they will help Mary interms of guiding it `.
3. Will her lack of technical knowledge hinder Mary’s managerial effectiveness?
No , because lacking on some aspects on technical knowledge cant bankrupt or destroy a company as long she have a guts to face and accepts failures
4. Should Mary’s superior have discussed the promotion with the senior employees before announcing it?
No ,because its not their obligation...

...Should Elio's joint
venture with Bostrom? Should it partner with a tier-one or a tier-two automotive supplier?
Was Elio's technology strategy aligned with the requirements for a successful entry into the
automotive market? Paul and Hari realized that they needed answers to these questions in
the coming days.
This casestudy discusses the start-up, origins and strategic options facing an innovative set up
and start up in automotive market and in the seat design. With the domination of the
incumbent large suppliers serving the top 3 leading tier-one automakers of U.S.,
Elio
Engineering faces several challenges as it seeks to introduce its new seating technology to the
market. The case can serve as vehicle to discuss important themes such as technology and
business strategy, invention and innovation, bringing technology to market and profiting from
innovation.
Elio's should make a joint venture with Bostrom. Elio's has made a seat design naming "No
Compromise" with progress on cost, weight and performance compared to the conventional
design and also the existing all-belt-to-seat (ABTS). After many functional prototypes and
computer aided structural analysis, a perfect design was achieved, but few of the critical items
had not yet been patented properly. It would be extremely difficult for a brand new entrant to
be ready with patented seat design and unveil the NC seat as few of the critical items...

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