Quantitative Methods for Management

ASSIGNMENT Max. Marks: 30

Each question carries 10 marks

1. At one of the Management Institutes, a sample of 55 second Year MBA students was selected,
and information gathered relating to their age, background of graduation, work experience prior
to joining MBA, CGPA score at the end of First Year, and area of specialization. The collected
data is given below:

No. CGPA Background Specialisation Work Experience Age (in years)

1 3.24 Commerce Finance 2 23
2 3.14 Commerce Finance 1 21
3 3.72 Commerce Finance 2 23
4 3.06 Commerce Finance 4 21
5 3.14 Commerce Finance 2 22
6 3.14 Commerce Finance 1 23
7 3.06 Commerce Finance 0 22
8 3.17 Commerce Finance 3 21
9 2.97 Commerce Finance 2 22
10 3.14 Commerce Finance 4 23
11 3.69 Commerce Finance 4 24
12 2.85 Commerce Finance 3 25
13 2.92 Commerce Marketing 2 23
14 2.79 Commerce Marketing 3 25
15 3.22 Commerce Marketing 2 22
16 2.87 Commerce Marketing 2 22
17 3.14 Commerce Marketing 1 22
18 3.17 Commerce Marketing 1 23
19 3.22 Economics Finance 3 26
20 2.58 Economics Finance 2 25
21 3.36 Economics Finance 2 22
22 3.17 Economics Marketing 1 21
23 2.59 Economics Marketing 2 24
24 2.97 Engineer Human Resources 8 31
25 2.92 Engineer Marketing 5 23
26 3.03 Engineer Marketing 3 23
27 2.79 Engineer Marketing 2 25
28 2.77 Engineer Marketing 3 23
29 2.97 Engineer Marketing 3 25
 30 3.11 Engineer Marketing 3 27
31 3.33 Engineer Marketing 1 24
32 2.65 Engineer Marketing 2 23
33 3.14 Engineer Marketing 2 24
34 2.97 Engineer Marketing 2 23
35 3.39 Engineer Marketing 2 24
36 3.08 Engineer Marketing 3 23
37 3.3 Engineer Marketing 6 27
38 2.94 Engineer Marketing 3 24
39 3.25 Engineer Marketing 2 23
40 3.14 Engineer Systems 3 23
41 3.36 Engineer System 4 26
42 2.95 Information Finance 2 24
43 2.98 Technology Finance 5 23
44 2.82 Information Marketing 1 24
45 2.98 Information Marketing 5 26
46 3.33 Information Marketing 2 24
47 2.96 Information Marketing 4 27
48 3.67 Information System 2 25
49 3.22 Science Finance 2 25
50 3.14 Science Finance 3 22
51 3.17 Science Finance 4 26
52 3.25 Science Resources 0 21
53 3. 10 Science Marketing 2 22
54 2.85 Science Marketing 3 24
55 3.25 Science Marketing 2 22

a. Present the above data with the help of tables, charts and graphs.

b. Calculate the measures of location and dispersion of CGPA, age and work experience for all
backgrounds and specializations. Combine these measures, wherever possible, for all the
backgrounds and specializations separately. Discuss the findings.

c. Study and comment on correlations between CGPA and age for students of all backgrounds
viz. commerce, science etc.,

d. Summarize your findings and present a managerial report.

2. Olive Construction Company is determining whether it should submit a bit for a new shopping
centre. In the past, Olive’s main competitor, Base Construction Company, has submitted bids
70% of the time. If Base Construction Company does not bid on a job, the probability that Olive
Construction Company will get the job is 0.50. If the Base Construction Company bids on a
job, the probability that Olive Construction Company will get the job is 0.25.
 a. If Olive Construction Company gets the job, what is the probability that Base
Construction Company did not bid?
b. What is the probability that Olive Construction Company will get the job?

3. A Nielsen study indicates that 18 to 24 year olds spend a mean of 135 minutes watching video
on their smartphones per month. Assume that the amount of time watching video on a
smartphone per month is normally distributed and that the standard deviation is 15 minutes.
a. What is the probability that an 18-to 24 year old spends less than 112 minutes watching video
on his or her smartphone per month?
b. What is the probability that an 18-to 24 year old spends between 112 and 158 minutes watching
video on his or her smartphone per month?
c. What is the probability that an 18 to 24 year old spends more than 158 minutes watching video
on his or her smartphone per month?
d. One percent of all 18 to 24 years old will spend less than how many minutes watching video
on his or her smartphone per month?

ALL THE BEST