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Published on: 13/05/2022
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Take MCQ Business Maths and Statistics Test

1.
Compute Fisher's price index number for the following data.
| Commodity | Base Year | Current Year | ||
| Price | Quantity | Price | Quantity | |
| A | 10 | 12 | 12 | 15 |
| B | 7 | 15 | 5 | 20 |
| C | 5 | 24 | 9 | 20 |
| D | 16 | 5 | 14 | 5 |
2.
The mean life time of 50 electric bulbs produced by a manufacturing company is estimated to be 825 hours with the S.D. of 110 hours. If II is the mean life time of all the bulbs produced by the company, test the hypothesis that μ = 900 hours at 5% level of significance.
3.
Suppose that the amount of cosmic radiation to which a person is exposed when flying by jet across USA is a random vertical. having a normal distribution with mean of 4.35m rem and a standard deviation of 0.59m rem. What is the probability that a person will be exposed to more than 5.20 m rem of cosmic radiation of such a flight?
4.
If a random variable. X has the probability distribution
| X | 0 | 1 | 2 | 3 | 4 | 5 |
| P(X=x) | a | 2a | 3a | 4a | 5a | 6a |
then find F(4)
5.
Solve the following assignment problem. Cell values represent cost of assigning job A, B, C and D to the operators I, II, III and IV.
6.
Evaluate ഽex \(\left( \frac { 1+sinxcosx }{ { cos }^{ 2 }x } \right) dx\)
7.
Solve: (D2+1)y = 0 when x = 0, y = 2 and when x = \(\frac { \pi }{ 2 } \), y = -2.
8.
Using Lagrange's formula, find the value of y when x = 42 from the following table
| x | 40 | 50 | 60 | 70 |
| y | 31 | 73 | 124 | 159 |
9.
Determine the cost of producing 3000 units of commodity if the marginal cost in rupees per unit is C'(x) = \(\frac{x}{3000}+2.50\)
10.
Solve: 2x + 3y = 5, 6x + 5y = 11
1.
| Commodity | Base Year | Current Year | ||
| p0 | q0 | p1 | q1 | |
| A | 10 | 12 | 12 | 15 |
| B | 7 | 15 | 5 | 20 |
| C | 5 | 24 | 9 | 20 |
| D | 16 | 5 | 14 | 5 |
| p1q0 | p0q0 | p1q1 | p0q1 |
| 144 | 120 | 180 | 150 |
| 75 | 105 | 100 | 140 |
| 216 | 120 | 180 | 100 |
| 70 | 80 | 70 | 80 |
| 505 | 425 | 530 | 470 |
Fisher's ideal index = \(\sqrt \frac {\sum p_{1}q_{0}\times \sum p_{1}q_{1}}{\sum p_{0}q_{0}\times \sum p_{0}q_{1}} \times 100\)
= \(\sqrt{\frac{505}{425} \times \frac {430}{470}} \times 100\)
\(P^{F}_{01}\) = 115.75
2.
Given sample size n = 50
Sample mean \(\bar { x }\) = 825
Population mean μ = 900
Population S.D. σ = 110
Null hypotheses: H0: μ = 900
Alternative hypotheses: H1: μ ≠ 900
The test statistic, z = \(\frac { \bar { x } -\mu }{ \frac { \sigma }{ \sqrt { n } } } \)
=\(\frac { 825-900 }{ \frac { 110 }{ \sqrt { 50 } } } \) = -4.82
∴ |z| = -4.82
As the significance level is α = 0.05, \(Z_{ \frac { \alpha }{ 2 } }\) = 1.96
Here |z| > \(Z_{ \frac { \alpha }{ 2 } }\) as 4.82 > 1.96
Inference: As |z| > \(Z_{ \frac { \alpha }{ 2 } }\), H0 is rejected. Hence, we can conclude that mean life time of the population of electric bulbs cannot be taken as 900 hours.
3.
Let X be a random vertical. which is normally distributed
Given that μ = 4.35 and σ = 0.59
When X = 5.20, Z + \(\frac { X-\mu }{ \sigma } =\frac { 5.2-4.35 }{ 0.59 } \)
= \(\frac { 0.85 }{ 0.59 } \) = 1.44
∴ P(X > 5.20) = P(Z > 1.44)
= P(1.44
P(X > 5.20) = 0.749
4.
Since the random variable X is the probability distribution function, Σpi = 1
∴ a + 2a + 3a + 4a + 5a + 6a = 1
21a = 1 ⇒ a = \(\frac{1}{21}\)
Now, F(4) = P(X ≤ 4)
= P(X = 0) + P(X = 1) + P(X = 2)P(X = 3) + P(X = 4)
= a + 2a + 3a + 4a + 5a = 15a
= 15\((\frac{1}{21})=\frac{5}{7}\)
∴ F(4) = \(\frac{5}{7}\)
5.
Here the number of rows and columns are equal.
∴ The given assignment problem is balanced.
Step 1 :
Select a minimum element in each row and subtract this from all the elements in its row.
Here IV column has no zero. Go to step 2.
Step 2:
Select the minimum element in each column and subtract this from all the elements in its column.
Since each row and column contains atleast one zero, assignments can be made.
Step 3:
Examine the rows with only one zero. Mark that. zero by and draw a vertical line.
Thus, all the assignments have been made.
The optimal assignment schedule and total cost is
| Job | Operator | Cost |
|---|---|---|
| A | III | 2 |
| B | IV | 6 |
| C | II | 4 |
| D | I | 5 |
| Total Cost | Rs. 17 | |
6.
\(I=\int { { e }^{ x } } \left( \frac { 1+sinxcosx }{ { cos }^{ 2 }x } \right) dx\)
= \(\int { { e }^{ x } } \left( \frac { 1 }{ { cos }^{ 2 }x } +\frac { sinxcosx }{ cosxcosx } \right) dx\)
I = ഽ ex (sec2 x + tan x) dx ----(1)
Let f(x) = tan x
f'(x) = sec2 x dx
We know ഽex (f(x) + f'(x)) dx = ex.f(x) +c
∴ I = ഽ ex (f (x) + f' (x)) dx
= ex. f(x) +c
= ex tan x + c
7.
The auxiliary equation is m2 + 1 = 0
⇒ m2 = -1
⇒ m = ±\(\sqrt { -1 } \) = ±i
Here α = 0, β = 1
∴ CF is e0x [A cosx + B sinx]
∴ The general solution is
y = A cos x + B sin x ...(1)
Given when x = 0, y = 2
∴ 2 = A cos 0 + B sin 0
⇒ 2 = A+0 ⇒ A = 2
[∵ cos0 = 1 and sin0 = 0]
Also, when x = \(\frac { \pi }{ 2 } \), y = -2
∴ -2 = A\(cos\frac { \pi }{ 2 } +Bsin\frac { \pi }{ 2 } \)
⇒ -2 = A(0)(+B(1) ⇒ B = -2
[∵ \(cos\frac { \pi }{ 2 } \) = 0 and \(sin\frac { \pi }{ 2 } \)= 1]
Substituting the values of A & B in (1) we get,
y = 2 cos x - 2 sin x
⇒ y = 2 (cosx - sin x)
8.
By data, we have
xo = 40, x1 = 50, x2 = 60, x3 = 70
yo = 31, y1 = 73, y2 = 124, y3 = 159.
Using Lagrange's formula, we get
\(y={ y }_{ 0 }\frac { (x-{ x }_{ 1 })(x-{ x }_{ 2 })(x-{ x }_{ 3 }) }{ ({ x }_{ 0 }-{ x }_{ 1 })({ x }_{ 0 }-{ x }_{ 2 })({ x }_{ 0 }-{ x }_{ 3 }) } +{ y }_{ 1 }\frac { (x-{ x }_{ 0 })(x-{ x }_{ 2 })(x-{ x }_{ 3 }) }{ ({ x }_{ 1 }-{ x }_{ 0 })({ x }_{ 1 }-{ x }_{ 2 })({ x }_{ 1 }-{ x }_{ 3 }) } { y }_{ 2 }+\frac { (x-{ x }_{ 0 })(x-{ x }_{ 1 })(x-{ x }_{ 3 }) }{ ({ x }_{ 2 }-{ x }_{ 0 })({ x }_{ 2 }-{ x }_{ 1 })({ x }_{ 2 }-{ x }_{ 3 }) } +{ y }_{ 3 }\frac { (x-{ x }_{ 0 })(x-{ x }_{ 1 })(x-{ x }_{ 3 }) }{ ({ x }_{ 3 }-{ x }_{ 0 })({ x }_{ 3 }-{ x }_{ 1 })({ x }_{ 3 }-{ x }_{ 2 }) } \)
∴ y(42) = 31\(\frac { (-8)(-18)(-28) }{ (-10)(-20)(-30) } +73\frac { (2)(-18)(-28) }{ (10)(-10)(-20) } +124\frac { (2)(-8)(-28) }{ (20)(10)(-10) } +59\frac { (2)(-8)(-28) }{ (30)(20)(10) } \)
= 20. 832 + 36. 792 - 27. 776 + 7.632
y = 37. 48
9.
Given, marginal cost, C' (x) \(\frac{x}{3000}+2.50\)
\(\int { C'(x) } =\int { \left( \frac { x }{ 300 } +2.50 \right) dx } \)
\(C(x)=\frac { { x }^{ 2 } }{ 6000 } +2.50x+k\)
When x = 0, c = 0 ⇒ k = 0
∴ c(x) = \(\frac{x^2}{6000}+2.50x\)
When x = 3000
Cost of production
\(=\frac { { (3000) }^{ 2 } }{ 6000 } +2.50(3000)\)
= 1500 + 7500
= Rs. 9000
10.
Given non-homogeneous equations are
2x + 3y = 5 6X + 5y = 11
\(\Delta =\left| \begin{matrix} 2 & 3 \\ 6 & 5 \end{matrix} \right| =10-18=-8\)
Since \(\Delta \neq 0\) Cramer's rule can be applied and the system is consistent with unique solution
\(\Delta x=\left| \begin{matrix} 5 & 3 \\ 11 & 5 \end{matrix} \right| =25-33=-8\)
\(\Delta y=\left| \begin{matrix} 2 & 5 \\ 6 & 11 \end{matrix} \right| =22-30=-8\)
\(\therefore x=\cfrac { \Delta x }{ \Delta } =\cfrac { -8 }{ -8 } =1\)
\(y=\cfrac { \Delta y }{ \Delta } =\cfrac { -8 }{ -8 } =1\)
\(\therefore \) Solution set is {1, 1}
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