Quantitative Techniques in Management

1st Block Assessment

Case Study
Below is the percentage bar diagram according to percentage expenditure of two families. Family A and Family B on several items. Read the bar graph and answer the following questions asssuming the total expenditure value for Family A as 1000 and for family B as 500.
 

Question 1
10 / 10 pts
The breadth of the bars representing the percentage expenditure denotes ________
   
Ratio of total expenditure of the families
 
   
Ratio of percentage expenditure of the families
 
   
the ratio of number of members in the family
 
   
None of these
 
 
Question 2
10 / 10 pts
In this percentage bar diagram the length of the bars _______
   
depends on the number of members of family
 
   
always remains same
 
   
depends upon the number of items spent on
 
   
none of these
 
 
Question 3
10 / 10 pts
Percentage expenditure of Family A on Food is _______
   
65%
 
   
52%
 
   
55%
 
   
50%
 
 
Question 4
10 / 10 pts
The value of expenditure of Family B on Miscellaneous is ________
   
50
 
   
40
 
   
55
 
   
30
 
 
Question 5
10 / 10 pts
The value of expenditure of Family A on Electricity Bill is ________
   
450
 
   
120
 
   
100
 
   
200
 
 
Question 6
10 / 10 pts
Difference between the percentage expenditure of Family A on Water Bill and Miscellaneous is ________
   
5%
 
   
10%
 
   
2%
 
   
12%
 
 
Question 7
10 / 10 pts
"The Cumulative percentage of expenditure for Family A on Food , Electricity Bill and Rent is _______ "
   
88%
 
   
75%
 
   
85%
 
   
70%
 
 
Question 8
10 / 10 pts
Sum of the expenditure value of Family A and Family B on Food is _________
   
800
 
   
260
 
   
250
 
   
900
 
 
Question 9
10 / 10 pts
Difference between the percentage expenditure of Family A and Family B on Water Bill is________
   
20%
 
   
2%
 
   
1%
 
   
10%
 
 
Question 10
10 / 10 pts
Difference between the expenditure value of Family A and Family B on Rent is ______
   
100
 
   
75
 
   
200
 
   
70

2nd Block Assessment
QUESTION 1
1.    The Arithmetic Mean of the given distribution is ___________
 
    55.54
 
    68.3
 
    56.67
 
    65
10 points   
QUESTION 2
1.    The mode of the given distribution is ____________
 
    70
 
    74
 
    12
 
    70.5
10 points   
QUESTION 3
1.    The median of the given distribution is ______________
 
    65
 
    72
 
    70
 
    70.5
10 points   
QUESTION 4
1.    "In the short cut method of finding Arithmetic mean " f " stands for _______"
 
    function
 
    frequency
 
    sum of frequency
 
    none of these
10 points   
QUESTION 5
1.    Assumed mean of a given data is the _________ of data
 
    first value
 
    last value
 
    middle value
 
    all of the above
10 points   
QUESTION 6
1.    The Coefficient of Range for the given distribution is _________
 
    0.54
 
    0.35
 
    0.7
 
    0.4
10 points   
QUESTION 7
1.    The Variance for the given distribution is _________
 
    440
 
    470.78
 
    491.26
 
    none of these
10 points   
QUESTION 8
1.    The Standard Deviation of the given distribution is __________
 
    20.97
 
    21.69
 
    22.16
 
    none of these
10 points   
QUESTION 9
1.    The ________ of Standard deviation is known as Variance
 
    Square root
 
    Integral
 
    Derivative
 
    Square
QUESTION 10
1.    "To find the mean deviation from mean, what amongst the following must be found?"
 
    deviation of class intervals from mean
 
    deviation of mean from mid point
 
    deviaion of median from mid point
 
    deviation of frequency from mean

3rd Block Assessment
Case Study
Consider the table below showing the cost of a fast – food hamburger meal and the cost of two movie tickets in 10 cities around the world (extracted from K. Spors, “Keeping Up with … Yourself,” The Wall Street Journal, April 11, 2005, p.R4). Answer the following questions based on the following data.

 
Question 1
10 / 10 pts
The Range of regression coefficient is __________
   
-∞ to +∞
 
   
0 to 1
 
   
-∞ to 0
 
   
-1 to +1
 
Question 2
10 / 10 pts
Taking Hamburger and Movie tickets as X & Y variables respectively, the value of Sum of X errors when squared is ________ 
   
11.21
 
   
23.42
 
   
10.02
 
   
15.04
 
Question 3
10 / 10 pts
Taking Hamburger and Movie tickets as X & Y variables respectively, the value of Sum of Y errors when squared is ________ 
   
294.23
 
   
361.41
 
   
320.34
 
   
190.41
 
Question 4
10 / 10 pts
Taking Hamburger and Movie tickets as X & Y variables respectively, the value of product of X and Y errors is ________ 
   
61.54
 
   
34.29
 
   
37.21
 
   
54.92
 
Question 5
10 / 10 pts
Taking Hamburger and Movie tickets as X & Y variables respectively, the value of Standard Deviation of X is ______
   
0.21
 
   
4.29
 
   
1.29
 
   
3.21
Question 6
10 / 10 pts
Taking Hamburger and Movie tickets as X & Y variables respectively, the value of Standard Deviation of Y is ______
   
3.09
 
   
4.29
 
   
6.33
 
   
8.21
Question 7
10 / 10 pts
Co - variance value between X & Y variables is _____________
   
3.98
 
   
5.32
 
   
6.11
 
   
6.83
 Question 8
10 / 10 pts
Taking Hamburger and Movie tickets as X & Y variables respectively, the value of coefficient of correlation "r" is _________
   
0
 
   
0.13
 
   
0.83
 
   
-0.67
 
Question 9
10 / 10 pts
The estimated value of correlation coefficient for the given variables shows that there is _______
   
strong positive correlation
 
   
strong negative correlation
 
   
no correlation
 
   
perfect correlation
 
 
Question 10
10 / 10 pts
Taking Hamburger and Movie tickets as X & Y variables respectively, the value of Mean of X is approximately equal to ______
o    5

o    6

o    7

o    8

Block 4th  -
4th Block Assessment

Two random samples drawn from two normal populations are given as below:
 
Sample 1    20    16    26    27    23    22    18    24    25    19               
Sample 2    27    33    42    35    32    34    38    28    41    43    30    37     
Taking the hypothesis that two samples are drawn from the same normal population of equal variance, answer the following questions.

 
 
Question 1
10 / 10 pts
If X denotes the sample 1 values , the sum of all X values is _____
   
245
 
   
268
 
   
186
 
   
220
 
 
Question 2
10 / 10 pts
If Y denotes the sample 2 values , the sum of all Y values is _____
   
432
 
   
420
 
   
397
 
   
230
 
Question 3
10 / 10 pts
Mean of X is _____
   
19
 
   
22
 
   
25
 
   
17
 
Question 4
10 / 10 pts
Mean of Y is ______
   
31
 
   
32
 
   
35
 
   
33
 
Question 5
10 / 10 pts
Variance of X is ________
   
13.33
 
   
11.43
 
   
18.23
 
   
10.43
 
Question 6
10 / 10 pts
Variance of Y is ________
   
30
 
   
25.43
 
   
28.55
 
   
29.42
 
Question 7
10 / 10 pts
Degrees of freedom in sample 1 is _____
   
6
 
   
7
 
   
8
 
   
9
 
Question 8
10 / 10 pts
Degrees of freedom in sample 2 is ____
   
8
 
   
9
 
   
10
 
   
11
 
Question 9
10 / 10 pts
The value of F at 5 % level of significance for degrees of freedom of sample 1 and 2 is _____
   
3.279
 
   
3.11
 
   
3.386
 
   
3.529
 
Question 10
10 / 10 pts
The value of F at 1 % level of significance for degrees of freedom of sample 1 and 2 is _____
   
5.92
 
   
3.53
 
   
5.2
 
   
None of these

Block 5th
5th Block Assessment

Case Study
A manufacturer produces two types of products P_1 and P_2. Each P_1 model requires 4 hours of carving and 2 hours of polishing where as each P_2 model requires 2 hours of carving and 5 hours of polishing. The manufacturer has 2 sculptor and 3 polishers. Each sculptor works for 40 hours a week and each polisher works for 60 hours a week. Profit on P_1 and P_2 model is Rs. 3 and Rs. 4 respectively. Whatever is produced in a week is sold in the market. Study the problem and answer the following question in order to formulate a LPP. 
Question 1
10 / 10 pts
Which among the following can be a constraint for the given problem?
   
working hours of sculptor and polishers
 
   
hours required for carving and polishing for each product
 
   
Both (a) & (b)
 
   
None of the above
 
 
Question 2
10 / 10 pts
Linear programming problem can be formulated for the given information, in order to ______
   
minimize working hours of labour
 
   
maximize profit
 
   
maximizing working hours for labour
 
   
minimizing profit
 
 
Question 3
10 / 10 pts
x_1 and x_2 being the number of units produced for P_1 and P_2 respectively in a week's time, objective function can be ______
   
3x_1 + 4x_2
 
   
4x_1 + 3x_2
 
   
3x_1 - 4 x_2
 
   
4x_1 - 3 x_2
 
 
Question 4
10 / 10 pts
Total availability of hours for sculptor's in a week is ______ hours
   
30
 
   
50
 
   
80
 
   
40
 
 
Question 5
10 / 10 pts
Total availability of hours for polisher's in a week is ______ hours
   
120
 
   
60
 
   
160
 
   
None of the above
 
 
Question 6
10 / 10 pts
Constraint subject to carving can be expressed as ______
   
4x_1 + 2x_2 less than or equal to 40
 
   
4x_1 + 2x_2 less than or equal to 80
 
   
2x_1 + 4x_2 less than or equal to 80
 
   
None of the above
 
 
Question 7
10 / 10 pts
Constraint subject to polishing can be expressed as ______
   
2x_1 + 5x_2 less than or equal to 60
 
   
5x_1 + 2x_2 less than or equal to 60
 
   
2x_1 + 5x_2 less than or equal to 180
 
   
None of the above
 
 
Question 8
10 / 10 pts
Condition for decision variables can be expressed as _____
   
x_1 and x_2 are greater than or equal to Zero
 
   
x_1 and x_2 are less than or equal to Zero
 
   
x_1 and x_2 are greater than or equal to one
 
   
x_1 and x_2 are less than or equal to one
 
 
Question 9
10 / 10 pts
Total processing time for P_1 for producing each unit is _____
   
3
 
   
4
 
   
5
 
   
6
 
 
Question 10
10 / 10 pts
Total processing time for P_2 for producing each unit is _____
   
5
 
   
6
 
   
7
 
   
8

Full Syllabus Assessment

Case Study
1. Given the following data: 
Variance of X=9
Regression equations:
4X-5Y+33=0 and 20X-9Y-107=0
 
2. Study the normal distribution graph given, in which 31% (items marked in red) are below 45 and 8% items (marked in green) are above 64 and answer the following questions
(Hint – table is to be read in reverse order for finding Z value)
 
 
 
Question 1
10 / 10 pts
Based on case study 1 - Mean Value of X is ____
   
13
 
   
14
 
   
15
 
   
16
 
 
Question 2
10 / 10 pts
Based on case study 1 - Mean Value of Y is ____
   
16
 
   
17
 
   
18
 
   
19
 
 
Question 3
10 / 10 pts
Based on case study 1 - Standard deviation of X is ____
   
4
 
   
5
 
   
6
 
   
None of the above
 
 
Question 4
10 / 10 pts
Based on case study 1 - Standard deviation of Y is ____
   
2
 
   
3
 
   
4
 
   
5
 
 
Question 5
10 / 10 pts
Based on case study 1 - Coefficient of correlation between X and Y is ______
   
0.4
 
   
0.5
 
   
0.6
 
   
0.7
 
 
Question 6
10 / 10 pts
Based on case study 2 - Z value for x = 64 is _____
   
2.4
 
   
1.4
 
   
0.43
 
   
None of the above
 
 
Question 7
10 / 10 pts
Based on case study 2 -Probability of the area marked as red is _______
   
0.34
 
   
0.31
 
   
0.38
 
   
0.17
 
 
Question 8
10 / 10 pts
Based on case study 2 -Probability of the area marked as green is _______
   
0.8
 
   
0.5
 
   
0
 
   
1
 
 
Question 9
10 / 10 pts
Based on case study 2 -Population standard deviation for the given normal distribution curve is ______
   
5
 
   
10
 
   
20
 
   
25
 
 
Question 10
10 / 10 pts
Based on case study 2 -Z value for x = 45 is _____
   
5
 
   
-0.05
 
   
-0.5
 
   
0.5

Course Summary Assessment

Live Interactive session Test
Question 1
10 / 10 pts
Which one of the following research methods is most likely to be quantitative in nature?
   
Surveys
 
   
Projective techniques
 
   
In-depth interview
 
   
Participant observation
 
 
Question 2
10 / 10 pts
Number of observations are 30 and value of arithmetic mean is 15 then sum of all values is
   
150
 
   
450
 
   
200
 
   
45
 
 
Question 3
10 / 10 pts
Binomial Distribution is considered appropriate in a Bernoulli Process which has the property ____
   
Dichotomy
 
   
Stability 
   
Independence
 
   
All of these
 
 
IncorrectQuestion 4
0 / 10 pts
All data points falling along a straight line is called:
   
Linear relationship
 
   
Non linear relationship
 
   
Residual
 
   
Scatter diagram
 
 
Question 5
10 / 10 pts
A process by which we estimate the value of dependent variable on the basis of one or more independent variables is called:
   
Correlation
 
   
Regression
 
   
Residual
 
   
Slope
 
 
Question 6
10 / 10 pts
The value of coefficient correlation lies between
   
0 to 1
 
   
minus one to plus one
 
   
zero to minus one
 
   
one to ten
 
 
Question 7
10 / 10 pts
According to Simplex Method to solve a LPP, the intersection of Key Row and Ket Column is called ______ element.
   
Key
 
   
Main
 
   
Pivot
 
   
All of these
 
 
Question 8
10 / 10 pts
When mean remains constant and there is a large number of trials but a small probability of success, then _____
   
Poisson Distribution tends to Binomial Distribution
 
   
Binomial Distribution tends to Poisson Distribution
   
Binomial Distribution tends to Normal Distribution
 
   
Normal Distribution tends to Binomial Distribution
 
 
Question 9
10 / 10 pts
In case of _________ events, the multiplication rule of probability is P(A.B) = P(A) . P(B).
   
Dependent
 
   
Independent
 
   
Both of these
   
None of these
 
 
Question 10
10 / 10 pts
Sum of the product of the different values of the random variable and their respective probabilities generates ________
   
Expected Vaue
 
   
Mean
 
   
both of these
 
   
none of these
 
 
IncorrectQuestion 11
0 / 10 pts
If t- value fall out of the range of the critical values, then ______
   
Alternate Hypothesis is rejected
 
   
Alternate Hypothesis is accepted
 
   
Null Hypothesis is accepted
 
   
no conclusion can be drawn
 
 
Question 12
10 / 10 pts
t – distribution is used instead of the normal distribution when we have ______samples in picture
   
small
 
   
large
 
   
very large
 
   
none of these
 
 
Question 13
10 / 10 pts
Random variables can be considered as function with domain elements as ______
   
sample space
 
   
natural numbers
 
   
real numbers
 
   
none of these
 
 
Question 14
10 / 10 pts
According to the Empirical Rule of Normal Distribution, ______ percent of the data falls within 2 standard deviations. 
   
95
 
   
68
 
   
92
   
99.7
 
 
Question 15
10 / 10 pts
Which amongst the following can be called as component of a LPP. 
   
A set of constraints
 
   
An objective funtion
 
   
A set of decision variables
 
   
All of these
 
Quiz Score: 130 out of 150