Applied Quantitative Methods - Solved Assignments and Essays
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This document contains solved assignments for Applied Quantitative Methods. Topics covered include frequency distribution, standard deviation, regression equation, probability, Bayesian probability, and more. Each question is explained in detail with step-by-step calculations.
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APPLIED QUANTITATIVE METHODS STUDENT NAME/ID [Pick the date]
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Question 1 A.Frequency distribution table B.Histogram (c) Computation of mean, median and mode Sorted data for median 1
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Sample size = 60 Sum of data points = 12,602 Mean Median Mode Maximum repetitions (frequency) = 140 Question 2 (a) The given set of data is categorised as sample not population because the data has been given only for 7 weeks not for all the respective weeks on which the data is present for number of flights at the airport and baggage’s sold. Further, this data would be termed as population only when the complete data for all the weeks on which the airport operations are recorded has been provided (Hillier, 2016). Here, only 7 week’s data has been given which refers that analyst has taken a sample of 7 weeks data from the population data. (b)Computation of standard deviation for number of flights at airport 3
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(a)Computation of IQR for number of baggage’s sod at airport Sorted data for IQR IQR is considered more appropriate measures as compared the standard deviation. It is because IQR does not affect due to the presence of extreme values and the skewed data (Flick, 2015). 4
(b)Computation of coefficient of correlation (R) The variables are having linear positive association which is evident from the position value of R. Further, the level of strength is moderate because the R value is closed to 0.5. Question 3 (a)Regression equation computation 5
Therefore, (b)Computation of coefficient of determination Only 20.57% change in the baggage’s sold has been explained by the change in the number of flights at the airport. Hence, the model cannot be said a good fit. Question 4 (a)Probability(playerisclubmemberorreceivegrassrootstraining)= (100+20+40)/(40+50+100+20=0.762 (b)Probability (player is external and receive scientific training) = (50)/(40+50+100+20=0.238 (c)Probability (player is club member and receive scientific training) =40/(40+100) =0.286 6
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(d)Probability computation for various cases (Harmon, 2016). The two events are not independent because the probabilities for the two events i.e. training and recruitment are contingent. Question 5 P(A)0.6 P(B)0.2 P(C)0.1 P(D)0.1 Thus, Bayesian probability 7
There is a 0.58 probability that a random customer prefer TV over radio and belongs to segment A. Question 6 Distribution of price Mean distribution table Mean Computation of standard deviation (Medhi, 2016) 8
Question 7 Mean = 250 km/hour Standard deviation = 30 km/hour (a)Probability train average is lower than 200km/hour Probability train average is lower than 200km/hour is 0.0475. 9
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(b)Probability train average is higher than 200km/hour Probability train average is higher than 200km/hour is 0.0475. (c)Probability train average is fall between 210km/hour and 280km/hour 10
Probability train average is fall between 210km/hour and 280km/hour is 0.7495. Question 8 Mean = 448 Standard deviation = 21 Sample size =49 Probability that average is fall between 441 and 446 shoppers (Medhi, 2016) Probability that average is fall between 441 and 446 shoppers is 0.2415. 11
References Flick, U. (2015)Introducing research methodology: A beginner's guide to doing a research project.4th ed. New York: Sage Publications Harmon, M. (2016)Hypothesis Testing in Excel - The Excel Statistical Master.7th ed. Florida: Mark Harmon. Hillier, F. (2016)Introduction to Operations Research.6th ed.New York: McGraw Hill Publications. Medhi,J.(2016)StatisticalMethods:AnIntroductoryText.4thed.Sydney:NewAge International 12
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