1. ABC Ltd. has forecasted demand of a product to be between 110 and 150. The...

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1. ABC Ltd. has forecasted demand of a product to be between 110 and 150. The products can be purchased and sold in multiples of 10 only. The company can purchase the product at Rs. 60 and can sell it at Rs. 80. Unsold product can be sold on subsequent day at Rs. 50. The probability of the demand is as per following: Demand probability 0.4 0.1 110 120 130 140 150 0.3 0.1 0.1 Find the quantity that the company should purchase. 2. As a result of tests on 20000 electric bulbs manufactured by a company it was found that the lifetime of the bulb was normally distributed with an average life of 2040 hours and std. Dev. of 60 hours. On the basis of the information, estimate the number of bulbs that are expected to burn for a. More than 2150 hours and b. Less than 1960 hours. Area under the normal curve Z VALUE 1.23 1.33 1.43 1.63 1.73 1.83 AREA UNDER THE 0.8907 0.9082 0.9236 0.9484 0.9582 0.9664 CURVE Z VALUE -1.23 -1.33 -1.43 -1.63 -1.73 -1.83 AREA UNDER CURVE THE 0.1093 0.0918 0.0764 0.0516 0.0418 0.0336 3. For the following data find the regression equation and estimate the improvement in performance for training period of 20 Hrs. Training hours 2 4 6 8 10 12 14 Improvement in performance in % 3 5 7 11 12 14 17 Part B: (30 Marks) - Syllabus Based Questions Answer any 3 questions out of 4 questions. Each Question carries 10 marks. Use of simple calculator is allowed Assume suitable data wherever required 4. ABC Ltd. Is a manufacturer of garments? They Want to do market research. They have been advised to collect data for the same. What are the different methods of data collection that he should consider.? Explain. 1. ABC Ltd. has forecasted demand of a product to be between 110 and 150. The products can be purchased and sold in multiples of 10 only. The company can purchase the product at Rs. 60 and can sell it at Rs. 80. Unsold product can be sold on subsequent day at Rs. 50. The probability of the demand is as per following: Demand probability 0.4 0.1 110 120 130 140 150 0.3 0.1 0.1 Find the quantity that the company should purchase. 2. As a result of tests on 20000 electric bulbs manufactured by a company it was found that the lifetime of the bulb was normally distributed with an average life of 2040 hours and std. Dev. of 60 hours. On the basis of the information, estimate the number of bulbs that are expected to burn for a. More than 2150 hours and b. Less than 1960 hours. Area under the normal curve Z VALUE 1.23 1.33 1.43 1.63 1.73 1.83 AREA UNDER THE 0.8907 0.9082 0.9236 0.9484 0.9582 0.9664 CURVE Z VALUE -1.23 -1.33 -1.43 -1.63 -1.73 -1.83 AREA UNDER CURVE THE 0.1093 0.0918 0.0764 0.0516 0.0418 0.0336 3. For the following data find the regression equation and estimate the improvement in performance for training period of 20 Hrs. Training hours 2 4 6 8 10 12 14 Improvement in performance in % 3 5 7 11 12 14 17 Part B: (30 Marks) - Syllabus Based Questions Answer any 3 questions out of 4 questions. Each Question carries 10 marks. Use of simple calculator is allowed Assume suitable data wherever required 4. ABC Ltd. Is a manufacturer of garments? They Want to do market research. They have been advised to collect data for the same. What are the different methods of data collection that he should consider.? Explain.