Business Statistics-Suppose you are a consultant hired to help NMIMS in understanding student perception of quality of study materials and student assessment process at NMIMS.

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Business Statistics

NMIMS MBA APRIL 2019 SOLVED ASSIGNMENTS

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NMIMS MBA SOLVED APRIL 2019 ASSIGNMENTS

 Question 1. Consider the following data of 26 restaurants serving in Mumbai.

Restaurant	Location	Area (square feet)	Number of items in menu	Sales in crores
A	Busy	2500	35	4.1
B	Less busy	50	45	5.1
C	Busy	450	36	4.3
D	Less busy	700	45	4.9
E	Busy	700	40	4.7
F	Less busy	400	25	2.6
G	Busy	800	50	5.2
H	Less busy	300	20	2.2
I	Less busy	350	34	3.8
J	Busy	700	42	4.1
K	Busy	450	34	3.9
L	Less busy	200	12	1.6
M	Busy	500	30	2.7
N	Less busy	400	37	3.9
O	Busy	500	35	3.1
P	Less busy	600	32	3
Q	Busy	800	45	4.9
R	Less busy	400	35	3.8
S	Busy	650	40	4
T	Less busy	400	25	2.3
U	Less busy	900	52	5.1
V	Busy	500	42	4.2
W	Busy	350	40	4.1
X	Less busy	300	25	2.2
Y	Busy	700	30	3
Z	Less busy	300	20	2.1

Is the Location variable - a nominal, an ordinal, an interval or a ratio variable? How can we code it so that we can use it in analysis (hint: binary)?

Which of the variables are determining Sales based on the above data? Take p < 0.05 for interpreting your multiple regression. You can use output from Ms-Excel or other software, but you are required to interpret it.

Is your regression model statistically significant? How is Adjusted R2 different from R2?

Suppose you want to open a new restaurant. Given that this new restaurant of 1000 square feet will be located in a busy location and will have 40 items in its menu - what would be the predicted sales? (10 Marks)

Question 2.

Based on the data in question 1 above, suppose that in order to plan the area (square feet) of your new restaurant, you want to consider information about the area (square feet) of existing restaurants. What is more appropriate in this case – mean, median or mode? Calculate them and explain.

What do you know about the symmetry of the distribution of the Number of Items in Menu?

As an investor you do not want much variability in Sales. Calculate standard deviation and inter-quartile-range of Sales and comment when they are useful as measures. What values (maximum, minimum) of Sales lie within two standard deviations, assuming normal distribution? (10 Marks)

Question 3

Suppose you are a consultant hired to help NMIMS in understanding student perception of quality of study materials and student assessment process at NMIMS.

a. What are the types of random sample survey, in general? What sampling method would you recommend in this case for your study and why? (5 Marks)

b. Consider the scores from a multiple-choice test from a question bank (random), used for student assessment. Explain Central Limit Theorem and its applicability to this case.

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