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Business Statistics
1. Suppose you are the
Operations Manager of an e-commerce company. Explain with examples how you can
use descriptive statistics to make better managerial decisions.
(10 Marks)
2. In the “Master Chef 2015”
Competition 10 finalists were ranked by three judges in the following orders:
First Judge : 1, 6, 5, 10, 3,
2, 4, 9, 7, 8
Second Judge : 2, 5, 8, 4, 7,
10, 3, 1, 6, 9
Third Judge : 5, 4, 9, 8, 1, 2,
3, 10, 6, 7
Use the method of rank
correlation to determine which pair of judges has the nearest approach in
ranking the competitors. (10 Marks)
3. A particular branch
of a bank has 30 full-time operating staff that includes branch manager,
assistant managers, loan officers, clerks and security personnel. Because of
the demonetarization issue banks are running 7 days a week and the bank does
not have full complement of staff to handle the increased customer crowd. In
addition there are times when staff are absent as they are getting sick because
of the increased stress levels. The branch manager conducted an audit to
determine if there is any kind of strong relationship between the number of
staff absent and the average time that the customer had to stand in the queues
inside the bank. The following was his observation from the past 10 days
information:
a) Develop the linear
regression equation that best describes the relationship. What is the estimate
of the time delay per employee absent? (5 Marks)
b) When the bank has
full complement of staff, what is the average waiting time in the queue as
predicted by the linear regression? If there are six employees absent, estimate
the average waiting time as predicted by the linear regression? (5 Marks)
Assignment Solutions, Case study Answer sheets
Project Report and Thesis contact
ARAVIND – 09901366442 – 09902787224
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