QMM ASSSIGNMENT

1. 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:

1.a)

Solution:

Specialization Background Count of no Average of Average of age (in Average of

work years) CGPA
Experience
Finance Commerce 12.00 2.33 22.50 3.19
Economics 3.00 2.33 24.33 3.05
Information 1.00 2.00 24.00 2.95
Science 3.00 3.00 24.33 3.18
Technology 1.00 5.00 23.00 2.98
Finanace Total 20.00 2.55 23.15 3.15
Human resources Engineer 1.00 8.00 31.00 2.97
Human resources 1.00 8.00 31.00 2.97
Total
Marketing Engineer 14.00 2.79 24.07 3.05
Commerce 6.00 1.83 22.83 3.02
Economics 2.00 1.50 22.50 2.88
Information 4.00 3.00 25.25 3.02
Science 3.00 2.33 22.67 3.07
Marketing Total 29.00 2.48 23.72 3.03
Marketing Engineer 1.00 3.00 24.00 2.94
Marketing Total 1.00 3.00 24.00 2.94
Resources Science 1.00 - 21.00 3.25
Resources Total 1.00 - 21.00 3.25
System Engineer 2.00 3.50 24.50 3.25
Information 1.00 2.00 25.00 3.67
system Total 3.00 3.00 24.67 3.39
Grand Total 55.00 2.60 23.65 3.09
 average CGPA average age average work exp count no

3.15

Finance 23.15
2.55
20

2.97

Human resource 31
8
1

3.03

Marketing 23.72
2.48
29

3.25

Resources 21
0
1

3.39

system 24.67
3
3
1.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.

CGPA Work Age (in

Experience Years)
Background Mean Median Mode Mean Median Mode Mean Median Mode
Engineer 3.06 3.06 2.97 3.17 3.00 3.00 24.50 24.00 23.00
Commerce 3.14 3.14 3.14 2.17 2.00 2.00 22.61 22.50 23.00
Economics 2.98 3.17 NA 2.00 2.00 2.00 23.60 24.00 NA
Information 3.12 2.97 NA 2.67 2.00 2.00 25.00 24.50 24.00
Science 3.14 3.17 3.25 2.29 2.00 2.00 23.14 22.00 22.00
Technology 2.98 2.98 2.98 5.00 5.00 5.00 23.00 23.00 23.00

CGPA Work Age (in

Experience Years)
Specialisation Mean Median Mode Mean Median Mode Mean Median Mode
Finance 3.25 3.14 3.14 2.55 2.00 2.00 23.15 23.00 23.00
Human 2.97 2.97 2.97 8.00 8.00 8.00 31.00 31.00 31.00
Resource
Marketing 3.02 2.98 2.79 2.50 2.00 2.00 23.73 23.50 23.00
Resources 2.94 2.94 2.94 3.00 3.00 3.00 24.00 24.00 24.00
System 3.36 3.36 NA 1.00 NA NA 24.67 25.00 NA

Entire Group CGPA Work experience Age (In years)

Mean 3.00 2.60 23.65
Median 3.14 2.00 23.00
Mode 3.34 2.00 23.00
Standard Deviation 0.24 1.44 1.59

1.Among the 55 Resources, the finance accounting for 90% of population.

2. Average age of the Group is 23.65 Yrs and average CGPA of 3.09.

3. the Group lies between 21-31 years lies between 2.58 to 3.72.

4.. most common age within the group in terms of Cgpa.

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

1. CGPA nd age for the entire group is not correlated. Increase or decrease in age does
not impact the CGPA in anyway.
2. While comparing by background Economics exhibited highest correlation, whereas
commerce was least correlated.
3. Economics and science are the only background which exhibited better correlation
than the entire group.

1.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.

Solution :

O stands for Olive

B stands for Base

P ( B bid) = 0.7

P ( B does not bid) = 0.3

P (O get Job / B does not bid) = 0.5

P (O get Job / B bid ) =0.25

2.a) If Olive Construction Company gets the job, what is the probability that Base
Construction Company did not bid?

Solution:

P (B did not bid / O get Job) = P( B did not Bid ) * P ( O get Job)/ B did not bid)

/ P ( O get job)

= 0.3 * 0.5 / 0.325

= 0.4615

2.b) What is the probability that Olive Construction Company will get the job?

Solution :

P (O get Job) = P ( B does not bid ) * P (O gets job / B does not bid )+ P (B bid) *
P (O get Job) / P ( B bid)
= 0.3 * 0.5 + 0.7 * 0.25
 = 0.15+ 0.175
= 0.325

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?

Solution :

P(X< 112) = P (Z < 112 -135 / 15 )

= 0.6259

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?

Solution:

P( 112< Z<158) = P( 112- 135 /15 ) < Z < P (158-135/15)

= P (-1.533 < Z < -1.533)

= 0.8748

C) What is the probability that an 18 to 24 year old spends more than 158 minutes
W watching video on his or her smartphone per month?

Solution:
P (X > 158) = P (Z > 158-135 / 15)

= P (Z > 1.533)

= .06259
D) One percent of all 18 to 24 years old will spend less than how many minutes w
watching video on his or her smartphone per month?

Solution:

P (Z < M) = 0.001

We have to find M in terms of Z form and P in min from. So we get the value

P ( Z < -2.327 ) = 0.01, So M = -2.327, M =P – 135 / 15 = -2.327