ASSIGNMENT

Course: -Business Statistics Academic Year: - 2024-25

Class & Division: -FYBAF-D Semester II
All FYBAF-D students are hereby informed that the Assignment work in Business
Statistics of 10 marks is compulsory.
Objective: To collect, analyze, interpret and find conclusions to the data.

The guideline for the assignments is given below

 Both the questions Q1 and Q2 are compulsory.

 Assignment should be Hand-Written
 Use A4 Size Ruled Project/Assignment papers for answering the question.
 For the first page of the assignment, kindly edit your Full Name and Full Roll no in
the attached First Page format and take the print on A4 size Blank Page (Black and
White)
For FYBAF-D – The last date to submit the Assignment is on or before 6th March 2025.
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Assignment Questions

Q1 – Decision Theory

For Roll no 1 to 10:

A retailer purchases grapes every morning for Rs. 50/- a case and sells for Rs. 80/- a case.
Unsold cases at the end of the day are donated to old age homes. Past sales have ranged
from 15 to 18 cases per day. Prepare the payoff table and the decision tree. Also identify
how many cases should be buy using

Roll No Assigned to Question assigned

FDAF001D Maximin & Minimax Regret Criteria

FDAF002D Maximax & Laplace Criteria
FDAF003D Maximax & Minimax Regret Criteria
FDAF004D Laplace & Minimax Regret Criteria
FDAF005D Maximin & Laplace Criteria
FDAF006D Maximin & Maximax
EMV & Minimax regret Criteria
Probability of the sales:
Sales 15 16 17 18
FDAF007D prob 0.1 0.2 0.3 0.4
EMV & Maximin Criteria
Probability of the sales:
FDAF008D Sales 15 16 17 18
 prob 0.1 0.2 0.3 0.4
EOL & Laplace Criteria
Probability of the sales:
Sales 15 16 17 18
FDAF009D prob 0.1 0.2 0.3 0.4
EOL & Minimax Regret Criteria
Probability of the sales:
Sales 15 16 17 18
FDAF010D prob 0.1 0.2 0.3 0.4

For Roll no 11 to 20:

The florist shop promises its customers delivery within three hours on all orders. All
flowers are purchased the previous day and delivered to florist by 8.00 a.m. the next
morning. Demand ranges from 7 dozen to 10 dozens. Florist purchases roses for Rs. 10.00
per dozen and sells them at Rs. 30 per dozen. All unsold roses are distributed in a local
hospital free of cost. Prepare the payoff table and the decision tree. Also identify how
many dozens should he be buy using

Roll No Assigned to Question assigned

FDAF011D Maximin & Minimax Regret Criteria

FDAF012D Maximax & Laplace Criteria
FDAF013D Maximax & Minimax Regret Criteria
FDAF014D Laplace & Minimax Regret Criteria
FDAF015D Maximin & Laplace Criteria
EOL & Minimax Regret Criteria
Probability of the demand:
Demand 7 8 9 10
FDAF016D prob 0.1 0.2 0.4 0.3
EMV & Minimax regret Criteria
Probability of the demand:
Demand 7 8 9 10
FDAF017D prob 0.1 0.2 0.4 0.3
EMV & Maximin Criteria
Probability of the demand:
Demand 7 8 9 10
FDAF018D prob 0.1 0.2 0.4 0.3
EOL & Laplace Criteria
Probability of the demand:
Demand 7 8 9 10
FDAF019D prob 0.1 0.2 0.4 0.3

For Roll no 21 to 30:

A Tourist car dealer have a fixed cost of Rs. 900 each day to keep and the daily hire
charges are Rs. 2000. No of cars demanded ranges from 0 to 4. Prepare the payoff table
and the decision tree. Also identify how many cars the company should keep using

Roll No Assigned to Question assigned

FDAF021D Maximin & Minimax Regret Criteria

FDAF022D Maximax & Laplace Criteria
FDAF023D Maximax & Minimax Regret Criteria
FDAF024D Laplace & Minimax Regret Criteria
FDAF025D Maximin & Laplace Criteria
FDAF026D Maximin & Maximax
EMV & Minimax regret Criteria
Probability of the demand:
Demand 0 1 2 3 4
FDAF027D prob 0.1 0.2 0.3 0.2 0.2
EMV & Maximin Criteria
Probability of the demand:
Demand 0 1 2 3 4
FDAF028D prob 0.1 0.2 0.3 0.2 0.2
EOL & Laplace Criteria
Probability of the demand:
Demand 0 1 2 3 4
FDAF029D prob 0.1 0.2 0.3 0.2 0.2
EOL & Minimax Regret Criteria
Probability of the demand:
Demand 0 1 2 3 4
FDAF030D prob 0.1 0.2 0.3 0.2 0.2

For Roll no 31 to 40:

A grocery receives its weekly supply of eggs every Thursday morning. This shipment
must last until the following Thursday when a new shipment is received. Any eggs left
unsold by Thursday are destroyed. Eggs sell for Rs.400 per hundred and cost Rs.350 per
hundred. The weekly demand for eggs at this grocery ranges from 10 to 14 (in hundreds)
The problem is: How many eggs should be ordered for delivery every Thursday? Also
prepare the payoff table and decision tree.

Roll No Assigned to Question assigned

FDAF031D Maximin & Minimax Regret Criteria

FDAF032D Maximax & Laplace Criteria
FDAF033D Maximax & Minimax Regret Criteria
FDAF034D Laplace & Minimax Regret Criteria
 FDAF035D Maximin & Laplace Criteria
FDAF036D Maximin & Maximax
EMV & Minimax regret Criteria
Probability of the demand:
In ‘00 10 11 12 13 14
FDAF037D prob 0.1 0.2 0.4 0.2 0.1
EMV & Maximin Criteria
Probability of the demand:
In ‘00 10 11 12 13 14
FDAF038D prob 0.1 0.2 0.4 0.2 0.1
EOL & Laplace Criteria
Probability of the demand:
In ‘00 10 11 12 13 14
FDAF039D prob 0.1 0.2 0.4 0.2 0.1
EOL & Minimax Regret Criteria
Probability of the demand:
In ‘00 10 11 12 13 14
FDAF040D prob 0.1 0.2 0.4 0.2 0.1

For Roll no 41 to 50:

A bakery receives its weekly supply of bread loaves every Tuesday. The cost of each loaf is
Rs.15, and it is sold for Rs.30. Any unsold loaves by Tuesday are discarded. Weekly demand
for bread ranges from 50 to 60 loaves. How many loaves of bread should be ordered every
Tuesday to maximize expected profit? Also Prepare the payoff table and the decision tree.

Roll No Assigned to Question assigned

FDAF041D Maximin & Minimax Regret Criteria

FDAF042D Maximax & Laplace Criteria
FDAF043D Maximax & Minimax Regret Criteria
FDAF044D Laplace & Minimax Regret Criteria
FDAF045D Maximin & Laplace Criteria
FDAF046D Maximin & Maximax
EMV & Minimax regret Criteria
Probability of the demand:
Deman 50 51 52 53 54
d
FDAF047D prob 0.1 0.2 0.3 0.2 0.2
EMV & Maximin Criteria
Probability of the demand:
Deman 50 51 52 53 54
d
FDAF048D prob 0.1 0.2 0.3 0.2 0.2
 EOL & Laplace Criteria
Probability of the demand:
Deman 50 51 52 53 54
d
FDAF049D prob 0.1 0.2 0.3 0.2 0.2
EOL & Minimax Regret Criteria
Probability of the demand:
Deman 50 51 52 53 54
d
FDAF050D prob 0.1 0.2 0.3 0.2 0.2

For Roll no 51 to 60:

A clothing store receives its weekly supply of t-shirts every Friday. The cost of each t-shirt is
Rs.250, and it is sold for Rs.400. Any unsold t-shirts by the next Friday are discarded.
Weekly demand for t-shirts ranges from 20 to 24. How many t-shirts should be ordered every
Friday to maximize expected profit? Also Prepare the payoff table and the decision tree.

Roll No Assigned to Question assigned

FDAF051D Maximin & Minimax Regret Criteria

FDAF052D Maximax & Laplace Criteria
FDAF053D Maximax & Minimax Regret Criteria
FDAF054D Laplace & Minimax Regret Criteria
FDAF055D Maximin & Laplace Criteria
EOL & Minimax Regret Criteria
Probability of the demand:
demand 20 21 22 23 24
FDAF056D prob 0.1 0.3 0.4 0.1 0.1
EMV & Minimax regret Criteria
Probability of the demand:
demand 20 21 22 23 24
FDAF058D prob 0.1 0.3 0.4 0.1 0.1
EMV & Maximin Criteria
Probability of the demand:
demand 20 21 22 23 24
FDAF059D prob 0.1 0.3 0.4 0.1 0.1
EOL & Laplace Criteria
Probability of the demand:
demand 20 21 22 23 24
FDAF060D prob 0.1 0.3 0.4 0.1 0.1

For Roll no 61 to 70

A footwear store receives its weekly supply of shoes every Sunday. The cost of each pair of
shoes is Rs.800, and it is sold for Rs.1,200. Any unsold shoes by the following Sunday are
discarded. Weekly demand for shoes ranges from 15 to 20 pairs. How many pairs of shoes
should be ordered every Sunday to maximize expected profit? Also Prepare the payoff table
and the decision tree.

Roll No Assigned to Question assigned

FDAF061D Maximin & Minimax Regret Criteria

FDAF062D Maximax & Laplace Criteria
FDAF063D Maximax & Minimax Regret Criteria
FDAF064D Laplace & Minimax Regret Criteria
FDAF065D Maximin & Laplace Criteria
FDAF066D Maximin & Maximax
EMV & Minimax regret Criteria
Probability of the demand:
demand 15 16 17 18 19 20
FDAF067D prob 0.1 0.3 0.2 0.1 0.1 0.2
EMV & Maximin Criteria
Probability of the demand:
demand 15 16 17 18 19 20
FDAF068D prob 0.1 0.3 0.2 0.1 0.1 0.2
EOL & Laplace Criteria
Probability of the demand:
demand 15 16 17 18 19 20
FDAF069D prob 0.1 0.3 0.2 0.1 0.1 0.2
EOL & Minimax Regret Criteria
Probability of the demand:
demand 15 16 17 18 19 20
FDAF070D prob 0.1 0.3 0.2 0.1 0.1 0.2

For Roll no 71 to 80
A dairy shop receives its weekly supply of milk every Wednesday morning. The cost of each
liter of milk is Rs.40, and it is sold for Rs.60 per liter. Any unsold milk by the following
Wednesday is discarded. Weekly demand for milk ranges from 15 to 20 liters. How many
liters of milk should be ordered every Wednesday to maximize expected profit? Also prepare
the payoff table and decision tree.

Roll No Assigned to Question assigned

FDAF071D Maximin & Minimax Regret Criteria

FDAF072D Maximax & Laplace Criteria
FDAF073D Maximax & Minimax Regret Criteria
FDAF074D Laplace & Minimax Regret Criteria
FDAF075D Maximin & Laplace Criteria
FDAF076D Maximin & Maximax
 EMV & Minimax regret Criteria
Probability of the demand:
demand 15 16 17 18 19 20
FDAF077D prob 0.1 0.3 0.2 0.1 0.1 0.2
EMV & Maximin Criteria
Probability of the demand:
demand 15 16 17 18 19 20
FDAF078D prob 0.1 0.3 0.2 0.1 0.1 0.2
EOL & Laplace Criteria
Probability of the demand:
demand 15 16 17 18 19 20
FDAF079D prob 0.1 0.3 0.2 0.1 0.1 0.2
EOL & Minimax Regret Criteria
Probability of the demand:
demand 15 16 17 18 19 20
FDAF080D prob 0.1 0.3 0.2 0.1 0.1 0.2

For Roll no 81 to 90
A tech store receives its weekly supply of laptops every Saturday. The cost of each laptop is
Rs.30,000, and it is sold for Rs.35,000. Any unsold laptops by the following Saturday are
discarded. Weekly demand for laptops ranges from 8 to 12 units. How many laptop units
should be ordered every Wednesday to maximize expected profit? Also prepare the payoff
table and decision tree.

Roll No Assigned to Question assigned

FDAF081D Maximin & Minimax Regret Criteria

FDAF082D Maximax & Laplace Criteria
FDAF083D Maximax & Minimax Regret Criteria
FDAF084D Laplace & Minimax Regret Criteria
FDAF085D Maximin & Laplace Criteria
EOL & Minimax Regret Criteria
Probability of the demand:
demand 8 9 10 11 12
FDAF086D prob 0.2 0.3 0.3 0.1 0.1
EMV & Minimax regret Criteria
Probability of the demand:
demand 8 9 10 11 12
FDAF087D prob 0.2 0.3 0.3 0.1 0.1
EMV & Maximin Criteria
Probability of the demand:
demand 8 9 10 11 12
FDAF088D prob 0.2 0.3 0.3 0.1 0.1
FDAF089D EOL & Laplace Criteria
 Probability of the demand:
demand 8 9 10 11 12
prob 0.2 0.3 0.3 0.1 0.1

Q.2 – Regression Analysis

The correlation between the number of study hours and exam scores for a group of students is
0.9. The average study time is 5 hours with a standard deviation of 1.5 hours, and the average
exam score is 75 with a standard deviation of 8. Predict the exam score for a student who
studies for 6 hours. Estimate the number of study hours for a student who scores 82.