Predict sales of a 95 degree day - PowerPoint PPT Presentation

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Predict sales of a 95 degree day

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Title: Predict sales of a 95 degree day


1
Business Statistics
2
  • Business Statistics
  •  
  • 1. The sample data from a research survey
    conducted in various countries on the amount of
    time 3-5 year-old children spent alone with their
    fathers each day is as follows
  •  
  • Country Time with Dad
    (minutes)
  •  
  • Bangladesh
    30
  • Bhutan
    46
  • China
    54
  • Nepal
    50
  • Pakistan
    46
  • Nigeria
    42
  • Korea
    46
  • Russia
    42
  • India
    50

3
  • For the above sample, determine the following
    measures
  • a. The mean
  • b. The standard deviation
  • c. The mode
  • d. The 75th percentile
  • Based on your calculations comment on the
    father-children relationship (10 Marks)
  •  
  • 2. Prince a chaiwala at Mumbai Central station
    believes that the sales of tea at his tea shop
    depends upon the weather. He has taken a sample
    of a weeks data. Below you are given the results
    of the sample. (10 Marks)
  • Cups
    Sold
    Temperature

  • 350
    50

  • 200
    60

  • 210
    70

  • 100
    80

  • 80
    90

4
  • 70
    100
  • 50
    110
  • a. Which variable is the dependent variable?
  • b. Compute the least squares estimated line.
  • c. Is there a significant relationship between
    the sales of coffee and temperature?
  • e. Predict sales of a 95 degree day.
  •  

5
  • 3. According to one of the recent study published
    in an International report, the cost of medical
    malpractice in the United States is USD 55.6
    billion a year, which is approximately 2.4
    percent of US annual health-care spending. An
    earlier research report published in 2011, in the
    New England Journal of Medicine revealed that,
    during the period 1991 to 2005, 7.4 percent of
    all physicians licensed in the US had a
    malpractice claim. These staggering numbers not
    only contribute to the high cost of health care,
    but the size of successful malpractice claims
    also contributes to high premiums for medical
    malpractice insurance. The table below contains a
    sample of data set of claim payments made in a
    years time and other information about the
    claimant

6
a. Using descriptive statistics explore claim
payment amounts, and identify factors that appear
to influence the amount of the payment. (5
Marks) b. Do a correlation analysis between
Amount and Age and interpreted the
coefficient of correlation.
7
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