Assignment (Total 15 Marks)
ANSWER ALL THE QUESTIONS, SHOW ALL CALCULATIONS, WORKING NOTES AND EXPLANATION (EACH QUESTION WILL CARRY 03 MARKS)
Q 1: Mr. Irfan, Plant Manager of Al Khuwair Furniture LLC has recently installed two plants A and B for their production of 2 Seater Polyster Sofa.
The productivity of the plant A for the past 10 days is 9, 14, 10, 8, 12, 16, 9, 12, 8 and 14 sofas
The productivity of the plant B for the past 10 days is 10, 14, 7, 9, 10, 11, 8, 13, 10 and 9 sofas
Find out which plant is more consistent in productivity based on Standard Deviation (SD) and give reason for your answer.
Which method will give you precise results, Coefficient of Variation (CV) or Standard deviation? Discuss analytically
Q 2: During COVID-19 lockdown, Mr. Umair, a Sales Manager of Oasis Retail LLC is worried about the sales and revenue of the store. He decided to find out the average sales revenue for the last 60 days. He collected the revenue details of last 60 days from the accounts.
Revenue (’00 RO)
00-10
10-20
20-30
30-40
40-50
50-60
60-70
70-80
No. of days
9
5
10
10
9
8
3
6
Find out the average revenue of the Oasis Retail LLC for the last 60 days
Find out the value which has occurred most frequently in the given data set.
Q 3: Al Matra LLC has recently hired Mr. Musab, a professional market researcher. Mr. Musab is interested to find out relationship between cost incurred and revenue earned by the company. He collected the data of last 7 years from the accounts department, but he is confused about the method which can find out the relationship.
Year
Cost Incurred (OMR in Millions)
Revenue Earned (OMR in Millions)
2013
8
20
2014
10
22
2015
9
22
2016
7
18
2017
11
20
2018
12
24
2019
10
25
Find out the correlation value and give interpretation of the result
If correlation value is 1.25, discuss the result analytically.
Q 4 : (Using the Q. 3 data) If the cost incurred is OMR 20 Million, what will be the volume of revenue?
Q.5: Mr. Hamood, a research scholar of Business Department in HCT, would like to find out the association between the mid-term marks, quiz marks, assignment marks and end semester marks with the Total Marks/GP obtained by the students in the final exam. He has decided to collect the data from the college students studying in the Sultanate of Oman. He came to know that there are more than 138,000 students studying in all the different colleges in Oman and realized that it is not possible to collect the data from all the students considering the time to complete the study.
How will you decide the sample size? Discuss with reasons
Find out the dependent variable and independent variables
Who are the respondents?
How will you collect the data? Discuss the instrument and process
Inferential statistics is applicable. Discuss analytically
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