2020 nmims solved assignments would your answer to the first question change based on your assessment of the variability in the performance of bulb manufacturers

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This document provides data on the life of light bulbs from two manufacturers and asks questions about analyzing the data. It also provides a correlation table and asks questions about interpreting the correlation coefficients. Finally, it asks probability questions about a cricket series between India and New Zealand where India has a 70% chance of winning each match.

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Business Statistics
TABLE GIVEN BELOW
Mfr 1- Life of bulb (in hrs) Mfr 2- Life of buff (in hrs) 684 819 831 907 859 952 893 994
922 1016 939 1038 972 1096 1016 1153 697 836 835 912 860 959 899 1004 924 1018
943 1072 977 1100 1041 1154 720 888 848 918 868 962 905 1005
1. A sample of 20 bulbs each was picked from the manufacturing facility of two bulb
manufacturers — Mfr I and Mfr
2. The table above provides the life of bulbs for the two manufacturers. You are a quality
testing person and are presented with this data:
i. Which manufacturer has better performance on the life of bulbs? What are the
different measures you can consider to calculate performance?
ii. How would you assess the variability in the performance of the two bulb
manufacturers?
iii. Would your answer to the first question change based on your assessment of the
variability in the performance of bulb manufacturers? (10 Marks)

2. For the data in the table below: (10 Marks)
i. What do the correlation coefficients of I, shaded in yellow, indicate?
ii. The highest correlation coefficient is 0.84, shaded in green. What can you infer from
that score about the relationship between the two variables?
iii. The two lowest correlation coefficients are 0.06 and -0.06. What can you infer from
that score about the relationship between the two variables?
R correlation coefficient Assets Expense Ratio Return 2006 3-Year Return 5-Year
Return Assets 1 Expense Ratio -0.29 1.00 Return 2006 0.08 -0.13 1.00 3-Year Return
0.07 -0.11 0.70 1.00 5-Year Return 0.06 -0.06 0.59 0.84 1.00
3. The Indian cricket team is visiting New Zealand to play a test series comprising five
matches. In each match, assume that the Indian team has a 70% chance of winning.
Further, assuming that the matches are independent of each other, what is the
probability that:
a. The Indian team will win the series? (5 Marks)
b. The team will win all five matches, and that the team will lose all? (5 Marks)
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