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1. Dear students get fully solved assignments
Send your semester & Specialization name to our mail id :
help.mbaassignments@gmail.com
or
call us at : 08263069601
NMIMS Global Access
School for Continuing Education (NGA-SCE)
Course: Business Statistics
Internal Assignment Applicable for December 2016 Examination
Assignment Marks: 30
Instructions:
 All Questions carry equal marks.
 All Questions are compulsory
 All answers to be explained in not more than 1000 words for question 1 and 2 and for
question 3 in not more than 500 words for each subsection. Use relevant examples,
illustrations as far as possible.
 All answers to be written individually. Discussion and group work is not advisable.
 Students are free to refer to any books/reference material/website/internet for attempting
their assignments, but are not allowed to copy the matter as it is from the source of
reference.
 Studentsshould writethe assignmentin their own words.Copying of assignmentsfromother
students is not allowed.
 Formula can be written using various methods such as - brackets/parenthesis,
subscript/superscript,insert-equation /insert-object-Microsoft Equation 3.0 (features in Ms-
Word). Some formula can be rewritten in simple form such as C(5,2) in combination.

2. Question. 1. You want to do a survey of student opinion in a district
regarding outdoor sports. What will be your sampling plan? How
will you ensure randomness? (10 Marks)
Answer: Survey is not the easiest way of gathering information but this is the most efficient way.
The survey can allow you to get exact data from huge area. You will gather data as per your
requirementwiththe helpof surveybut the survey could be really very lengthy if you will not take
care of right methodology.
There are many kinds of survey available for you to try but in this case, you have to survey the
student’sopinioninadistrictregarding outdoor sports. This is the matter where sampling plan will
be suitable but which sampling plan will you choose
Question. 2. The “Lena Bank” sells a form of life insurance called
“Lena life insurance (LLI)”. The approval process for the life
insurance consists of underwriting, which includes a review of
application, a medical information bureau check, possible request
for additional medical information and medical exams, and a policy
completion stage during which the policy pages are generated and
sent to the bank for delivery. The ability to deliver approved policy
to customers in timely manner is critical to the profitability of this
service to the bank. During a period of one month, a random
sample of 27 approved policies was selected, and the following
processing times in days were recorded
72 19 16 61 28 28 31 70 60 56 31 56 22 17
18 45 48 17 17 17 71 52 63 50 51 69 16
Compute the mean, median, mode, first quartile and third quartile.
Also, compute the range, Inter-quartile range, Variance, Mean
Deviation and Coefficient of variation. Based on your findings, what
would you tell a customer who enters the bank to purchase this
type of insurance policy and asks you how long the approval
process takes? (10 marks)
Answer:
Mean:
Equation

3. Question. 3. a) What is the measure of central tendency if data has
extreme values? Give example. (5 marks)
Answer: The central tendency calculation is not exactly a matter of short term calculation but this
can be more effective andconvenientif youunderstandthe importance anduse of central tendency
measures. There are three kinds of central tendency measures which include Mode, Median and
Mean. They all are useful but in their own manner. They all have different parts to play in the
calculative equation.
Whenthere is a matter of extreme value measurement or outlier data measurement then Median
will be the best choice since this is the
b) Two cards were drawn, without replacement, from a pack of 52
cards. What is the probability that they are both Kings or both
Queens? (5 marks)
Answer: King or Queen Probability is =
4
52
So,
= (
4
52
)X(
4
52
)
Dear students get fully solved assignments
Send your semester & Specialization name to our mail id :
help.mbaassignments@gmail.com
or
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