Assignment –2
For
Quantitative
Techniques for Management Applications
Section A (20 Marks)
Write short notes
on any four of the following:
1.
Two-person Zero-sum Game
2.
Properties of Markov Models
3.
Methods of Sampling
4.
Comparison of 3 M's of
Statistics
5.
Kinds of Averages
Section B (30 marks)
(Attempt any three)
1.
What
are the key drawbacks of collecting data from secondary sources?
2. IBM Computers (I) Ltd. has been entrusted with the
responsibility of developing a relationship between number of employees and
salary structure in Arian Pharmaceuticals Ltd. The statistics manager, Mr.
Ayyar has collected the following data. Draw the frequency distribution and
superimpose frequency polygon and frequency curve on it.
|
Salary
|
No. of
Employees
|
Salary
|
No. of
Employees
|
|
300-400
|
20
|
700-800
|
115
|
|
400-500
|
30
|
800-900
|
100
|
|
500-600
|
60
|
900-1000
|
60
|
|
600-700
|
75
|
1000-1200
|
40
|
3.
Illustrate the concept of
multiple regression analysis.
4.
State the difference between
the conceptual and mathematical model of forecasting.
Section C (50 marks)
(Attempt all questions. Every question carries 10 marks)
Read the case “Cost & Revenue Calculation” and answer the
following questions:
Cost & Revenue Calculation
A switch
manufacturer finds that his total monthly production costs are ` 10,600 when
production is 16,000 units per month, ` 17,800 when it is 26,000 units and `
27,000 when the production is 36,000 per month. He can sell 16,000 units per
month at ` 104 each, but has to reduce the price to ` 94 each in order to sell
26,000 pieces. He can sell 36,000 pieces only at ` 80.
Questions:
Assuming that both cost curve and price
curve are quadratic, find
1. the monthly total cost and the price,
2. the monthly revenue and
3. the monthly gross profit as functions
of the quantity sold.
Find also
4. the quantity sold,
5. the price and the monthly revenue at the breakeven point and
confirm that the monthly total cost is then equal to the monthly revenue.
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