STATISTICS FOR BUSINESS – FYBBA (Sem II)

ENDTERM STUDY KIT

Endterm exam – 40 marks (written)
Syllabus:
• Mode, Mean deviation, skewness kurtosis, outliers
• Variance, standard deviation, coefficient of variance
• Quartiles, IQR, Range and coefficient of range
• Boxplot, Identification of outliers using boxplot
• Covariance, correlation

Paper pattern:
Qn.1 Attempt any 4 questions out of 5 (20 marks)
Qn.2 Attempt any 2 questions out of 4 (20 marks)
Qn.1

The mean and median of a dataset are given as follows:

• Mean = 62

• Median = 57

Using the empirical relationship:

Mean−Mode=3(Mean−Median)

Tasks:

1. Calculate the mode using the given formula.

2. Compare the values of mean, median, and mode, and interpret the skewness of the
data distribution.
Qn.2

Qn.3

The following table shows the distribution of monthly salaries (in ₹1000s) of 50 employees in a
company.
 Monthly Salary Number of
(₹1000s) Employees
10 - 20 5
20 - 30 8
30 - 40 12
40 - 50 15
50 - 60 7
60 - 70 3
Calculate the mode of the salary distribution using the mode formula for grouped data:

Solution:
Qn.4

The following table represents the daily wages of workers in a factory:

Number of
Daily Wages (₹)
Workers
200 - 300 6
300 - 400 9
400 - 500 15
500 - 600 20
600 - 700 13
700 - 800 7
Find the mode of the wage distribution using the formula:

Solution:
Qn.5

A student's quiz scores over six tests were 75, 80, 78, 85, 90, and 88. Using these data
as a sample, compute the following descriptive statistics:
a. Standard deviation
b. Variance
c. Coefficient of variation
Solution:
Qn.6
ABC Bank wants to analyze the loan processing time (in days) across its five branches
to identify consistency and efficiency. The bank manager collects data from a sample of
five loan applications processed at each branch.
Calculate sample variance and sample standard deviation.

Processing
Branch
Time (Days)
Branch A 12
Branch B 15
Branch C 14
Branch D 10
Branch E 13
Total 64

Solution:
Thus, the variance is 3.7 days

Qn.7
The number of patients seen in the emergency ward of a hospital for a sample of 5 days
in the last month were: 153, 147, 151, 156 and 153. Determine the mean deviation and
interpret. Using the formula

Solution:
Qn.8
Calculate the mean absolute deviation for the following data sung the formula:

Year Sales (in thousands INR)

1996 23
1997 41
1998 29
1999 53
2000 38

Solution:
Qn.9
The following table shows the marks obtained by 11 students in a mathematics test:
50, 55, 60, 45, 65, 70, 75, 80, 85, 90, 95
1. Calculate the range of the marks.
2. Find the first quartile (Q1), and third quartile (Q3) using the quartile formula.
Solution:
Arrange the Data
45, 50, 55, 60, 65, 70, 75, 80, 85, 90, 95
Range = Maximum Value−Minimum Value = 95−45=50.

Qn. 10
A logistics company tracks the delivery time (in minutes) for 15 shipments over the
past two weeks. The recorded delivery times are as follows:
Delivery Time (minutes):
44, 28, 32, 38, 41, 47, 50, 53, 56, 59, 62, 65, 68, 72, 35
Using the data above, calculate the following:
1. Q1 (First Quartile)
2. Q3 (Third Quartile)
3. Range
4. Coefficient of Range

Solution:

Step 1: Arrange the Data in Ascending Order

Arrange the data in an ordered array
28, 32, 35, 38, 41, 44, 47, 50, 53, 56, 59, 62, 65, 68, 72

Range=Highest Value−Lowest Value =72−28=44

Qn.11
A company collects the monthly salaries (in INR thousands) of 10 employees:

Salaries (in thousands):

35, 42, 38, 50, 47, 39, 100, 41, 45, 44

Using the Interquartile Range (IQR) method, determine if there are any outliers in this
dataset.

Solution:

Arrange the Data in Ascending Order

35,38,39,41,42,44,45,47,50,100.
Any value below 25.25 or above 61.25 is an outlier.

Outlier: 100 (thousand INR)

Qn.12

A research team records the daily water consumption (in litres) of 11 households in a city:

Water Consumption (in litres):

120, 135, 140, 145, 150, 155, 160, 165, 170, 175, 250

Using the Interquartile Range (IQR) method, determine if there are any outliers.
Solution:

Arrange the Data in Ascending Order

Sorted Data:

120,135,140,145,150,155,160,165,170,175, 250

Q1 (First Quartile) is at position:

Any value below 95 or above 215 is an outlier.

Outlier: 250 litres

Qn.13

Compute the sample covariance.

Solution:
Qn.14

Calculate sample covariance.

Solution:

Qn.15

Find the standard deviation for the following frequency distribution of sales (in
thousands of rupees) in a cooperative store.

50-100 100-150 150-200 200-250 250-300 300-350

Sales

No. of days 11 23 44 19 8 7

Solution-

Sales Midpoint (x) No. of Days fx x-𝑥 (x - 𝑥)^2 f * (x - 𝑥)^2

Interval (in (f)
'000 Rs)

50-100 75 11 825 -104.91 11006.26 121068.8

 100-150 125 23 2875 -54.91 3015.19 69349.29

150-200 175 44 7700 -4.91 24.12 1061.07

200-250 225 19 4275 45.09 2033.04 38627.83

250-300 275 8 2200 95.09 9041.97 72335.78

300-350 325 7 2275 145.09 21050.9 147356.3

Total - 112 20150 - - 449799.07

𝛴𝑓𝑥 20150
Mean = 𝑥 = = = 179.91
𝛴𝑓 112

𝛴 𝑓 ∗ (𝑥 − 𝑥)^2 449799.07
Standard Deviation = 𝑠 = √ =√ = 63.66
𝛴𝑓−1 111

Qn.16
Find standard deviation for the following distribution:
Sales 1-3 3-5 5-7 7-9 9-11 11-13 13-15 15-17

No. of 6 53 85 56 21 26 4 4
days

Solution-

Sales Midpoint (x) No. of Days fx x-𝑥 (x - 𝑥)^2 f * (x - 𝑥)^2

Interval (f)

1-3 2 6 12 -5.15 26.55 159.32

3-5 4 53 212 -3.15 9.94 526.88

5-7 6 85 510 -1.15 1.33 112.99

7-9 8 56 448 0.85 0.72 40.18

9-11 10 21 210 2.85 8.11 170.22

11-13 12 26 312 4.85 23.49 610.84

 13-15 14 4 56 6.85 46.88 187.53

15-17 16 4 64 8.85 78.27 313.08

Total - 255 1824 - - 2121.04

𝛴𝑓𝑥 1824
Mean = 𝑥 = = = 7.15
𝛴𝑓 255

𝛴 𝑓 ∗ (𝑥 − 𝑥)^2 2121.04
Standard Deviation = 𝑠 = √ =√ = 2.89
𝛴𝑓−1 254

Qn.17
The following table gives the marks obtained by 10 students in commerce and statistics.
Calculate the rank correlation.

Marks in statistics 35 90 70 40 95 45 60 85 80 50
Marks in
commerce 45 70 65 30 90 40 50 75 85 60
Qn.18
Qn.19

Calculate Q1, Q2, for the given data.

Qn.20

Calculate Q1, Q3 and IQR for the given data: