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September 2023 term · Business Analytics · BSMS2002

Business Analytics End Term: 24 December 2023, Set ADF3 (September 2023 term)

The IIT Madras BS Business Analytics (Business Analytics) End Term paper sat on 24 Dec 2023, in the September 2023 term, set ADF3: 35 questions for 45 marks in 180 minutes. Every question is below with its answer. Take it as a timed mock test to be marked, or read it through first.

Questions
35
Marks
45
Duration
180 min
Numerical
24
MCQ
8
MSQ
3
Take as mock testPractise with answers

Updated

Official paper: IIT M FOUNDATION FN EXAM FDF1 24 Dec 2023 · No negative marking.

Question 1

+1 markNumerical answer

An ice cream seller has collected data on the number of ice-creams sold by him in two streets “A” and “B” over the past 15 days. This data is provided in Table-1. The number of ice creams sold in street “B” is expected to follow a uniform distribution. Based on the sample, you decide to perform a statistical test with the following bins [75 to 100), [100 to 125), [125 to 150), [150 to 175].

Given this information, answer the given subquestions.

Number of Ice-Creams Sold in Street-ANumber of Ice-Creams Sold in Street-B
Day-112085
Day-213075
Day-375120
Day-416080
Day-5130160
Day-612075
Day-712078
Day-875130
Day-975143
Day-1075154
Day-1175122
Day-1216090
Day-1316085
Day-1413079
Day-1516097

Table-1

What is the expected number of ice-creams that will be sold in any given bin? (Note: Enter the answer rounded to two decimal places. For example, if the answer is “1.234”, then enter it as “1.23”)

Show answer

Correct answer: 3.75

Question 1 on its own page

Question 2

+1 markNumerical answer

An ice cream seller has collected data on the number of ice-creams sold by him in two streets “A” and “B” over the past 15 days. This data is provided in Table-1. The number of ice creams sold in street “B” is expected to follow a uniform distribution. Based on the sample, you decide to perform a statistical test with the following bins [75 to 100), [100 to 125), [125 to 150), [150 to 175].

Given this information, answer the given subquestions.

Number of Ice-Creams Sold in Street-ANumber of Ice-Creams Sold in Street-B
Day-112085
Day-213075
Day-375120
Day-416080
Day-5130160
Day-612075
Day-712078
Day-875130
Day-975143
Day-1075154
Day-1175122
Day-1216090
Day-1316085
Day-1413079
Day-1516097

Table-1

What is the “Degrees of Freedom” for the statistical test that will be performed? (Note: Enter the answer rounded to two decimal places. For example, if the answer is “1.234”, then enter it as “1.23”)

Show answer

Correct answer: 1

Question 2 on its own page

Question 3

+2 marksNumerical answer

An ice cream seller has collected data on the number of ice-creams sold by him in two streets “A” and “B” over the past 15 days. This data is provided in Table-1. The number of ice creams sold in street “B” is expected to follow a uniform distribution. Based on the sample, you decide to perform a statistical test with the following bins [75 to 100), [100 to 125), [125 to 150), [150 to 175].

Given this information, answer the given subquestions.

Number of Ice-Creams Sold in Street-ANumber of Ice-Creams Sold in Street-B
Day-112085
Day-213075
Day-375120
Day-416080
Day-5130160
Day-612075
Day-712078
Day-875130
Day-975143
Day-1075154
Day-1175122
Day-1216090
Day-1316085
Day-1413079
Day-1516097

Table-1

What is the value of the computed test statistic? (Note: Enter the answer rounded to two decimal places. For example, if the answer is “1.234”, then enter it as “1.23”)

Show answer

Correct answer: 9.75 (accepted within ±0.15)

Question 3 on its own page

Question 4

+1 markOne correct option

An ice cream seller has collected data on the number of ice-creams sold by him in two streets “A” and “B” over the past 15 days. This data is provided in Table-1. The number of ice creams sold in street “B” is expected to follow a uniform distribution. Based on the sample, you decide to perform a statistical test with the following bins [75 to 100), [100 to 125), [125 to 150), [150 to 175].

Given this information, answer the given subquestions.

Number of Ice-Creams Sold in Street-ANumber of Ice-Creams Sold in Street-B
Day-112085
Day-213075
Day-375120
Day-416080
Day-5130160
Day-612075
Day-712078
Day-875130
Day-975143
Day-1075154
Day-1175122
Day-1216090
Day-1316085
Day-1413079
Day-1516097

Table-1

If the tabulated value of the test statistic is 10.59, then which of the following statements are correct?

  1. A

    Reject the Null and conclude that the number ice-cream sold in Street-B follows a uniform distribution

  2. B

    Do Not Reject the Null and conclude that the number ice-cream sold in Street- B follows a uniform distribution

  3. C

    Reject the Null and conclude that the number ice-cream sold in Street-B does not follows a uniform distribution

  4. D

    Do Not Reject the Null and conclude that the number ice-cream sold in Street- B does not follows a uniform distribution

Show answer

Correct answer

  • C

    Reject the Null and conclude that the number ice-cream sold in Street-B does not follows a uniform distribution

Question 4 on its own page

Question 5

+1 markNumerical answer

An ice cream seller has collected data on the number of ice-creams sold by him in two streets “A” and “B” over the past 15 days. This data is provided in Table-1. The number of ice creams sold in street “B” is expected to follow a uniform distribution. Based on the sample, you decide to perform a statistical test with the following bins [75 to 100), [100 to 125), [125 to 150), [150 to 175].

Given this information, answer the given subquestions.

Number of Ice-Creams Sold in Street-ANumber of Ice-Creams Sold in Street-B
Day-112085
Day-213075
Day-375120
Day-416080
Day-5130160
Day-612075
Day-712078
Day-875130
Day-975143
Day-1075154
Day-1175122
Day-1216090
Day-1316085
Day-1413079
Day-1516097

Table-1

How many degrees of freedom is present for the test used to determine if the sales in “Street-A” and “Street-B” are not-dependent on each other across days? (Note: Enter the answer rounded to two decimal places. For example, if the answer is “1.234”, then enter it as “1.23”)

Show answer

Correct answer: 14

Question 5 on its own page

Question 6

+1 markNumerical answer

An ice cream seller has collected data on the number of ice-creams sold by him in two streets “A” and “B” over the past 15 days. This data is provided in Table-1. The number of ice creams sold in street “B” is expected to follow a uniform distribution. Based on the sample, you decide to perform a statistical test with the following bins [75 to 100), [100 to 125), [125 to 150), [150 to 175].

Given this information, answer the given subquestions.

Number of Ice-Creams Sold in Street-ANumber of Ice-Creams Sold in Street-B
Day-112085
Day-213075
Day-375120
Day-416080
Day-5130160
Day-612075
Day-712078
Day-875130
Day-975143
Day-1075154
Day-1175122
Day-1216090
Day-1316085
Day-1413079
Day-1516097

Table-1

If the aim is to find if the sales in “Street-A” and “Street-B” are independent on each other across days, then what is the expected sales on “Day-10” for “Street-B”? (Note: Enter the answer rounded to two decimal places. For example, if the answer is “1.234”, then enter it as “1.23”)

Show answer

Correct answer: 107 (accepted within ±2)

Question 6 on its own page

Question 7

+1 markNumerical answer

An ice cream seller has collected data on the number of ice-creams sold by him in two streets “A” and “B” over the past 15 days. This data is provided in Table-1. The number of ice creams sold in street “B” is expected to follow a uniform distribution. Based on the sample, you decide to perform a statistical test with the following bins [75 to 100), [100 to 125), [125 to 150), [150 to 175].

Given this information, answer the given subquestions.

Number of Ice-Creams Sold in Street-ANumber of Ice-Creams Sold in Street-B
Day-112085
Day-213075
Day-375120
Day-416080
Day-5130160
Day-612075
Day-712078
Day-875130
Day-975143
Day-1075154
Day-1175122
Day-1216090
Day-1316085
Day-1413079
Day-1516097

Table-1

If the aim is to find if the sales in “Street-A” and “Street-B” are independent on each other across days, then what is the expected sales on “Day-4” for “Street-A”? (Note: Enter the answer rounded to two decimal places. For example, if the answer is “1.234”, then enter it as “1.23”)

Show answer

Correct answer: 126 (accepted within ±2)

Question 7 on its own page

Question 8

+1 markNumerical answer

A retailer has data pertaining to customers who visit the shop. The customers come from only three locations “X”, “Y”, “Z”. Moreover, the customers who visits the shop predominantly come by either “Car”, “Scooty” or “Bus” (Note: customers who come from X, Y and Z can use other modes as well). The footfall in the store indicates that 40% of the customers are from “X” and another 40% from “Y”. The remaining customers come from “Z”.
It is observed that, of the people in location “X”, 30% own only a “scooter” and travel to the store only by scooty to the store, 60% own only a “Car” and travel to the store only by car. In location “Y”, 40% own only a “Car” and travel to the store only by car, 20% own only a “Scooty” and travel to the store only by scooty, and 20% are eco-friendly and travel only by “Bus” to the store. In location “Z”, 50% own a “Scooty” and travel only by scooty to the store, 40% are eco-friendly and travel only by “Bus” to the store. Moreover, all the people living in location “X” are rich and never opt to travel to the store by “Bus”. On the contrary, the people in location “C” do not own a “Car” and never visit the store by “Car”.
Assuming the necessary mutual exclusiveness, answer the given subquestions.

What is the probability that a customer will come by “Scooty” to the shop? (Note: Enter the answer in decimals. DO NOT ENTER PERCENTAGE VALUES)

Show answer

Correct answer: 0.38

Question 8 on its own page

Question 9

+1 markNumerical answer

A retailer has data pertaining to customers who visit the shop. The customers come from only three locations “X”, “Y”, “Z”. Moreover, the customers who visits the shop predominantly come by either “Car”, “Scooty” or “Bus” (Note: customers who come from X, Y and Z can use other modes as well). The footfall in the store indicates that 40% of the customers are from “X” and another 40% from “Y”. The remaining customers come from “Z”.
It is observed that, of the people in location “X”, 30% own only a “scooter” and travel to the store only by scooty to the store, 60% own only a “Car” and travel to the store only by car. In location “Y”, 40% own only a “Car” and travel to the store only by car, 20% own only a “Scooty” and travel to the store only by scooty, and 20% are eco-friendly and travel only by “Bus” to the store. In location “Z”, 50% own a “Scooty” and travel only by scooty to the store, 40% are eco-friendly and travel only by “Bus” to the store. Moreover, all the people living in location “X” are rich and never opt to travel to the store by “Bus”. On the contrary, the people in location “C” do not own a “Car” and never visit the store by “Car”.
Assuming the necessary mutual exclusiveness, answer the given subquestions.

If 400 customers had visited in the shop on 10th December 2023, then how many would you expect to have travelled by “Bus”? (Note: Enter the answer rounded to two decimal places. For example, if the answer is “1.234”, then enter it as “1.23”. DO NOT ENTER PERCENTAGE VALUES)

Show answer

Correct answer: 64

Question 9 on its own page

Question 10

+1 markNumerical answer

A retailer has data pertaining to customers who visit the shop. The customers come from only three locations “X”, “Y”, “Z”. Moreover, the customers who visits the shop predominantly come by either “Car”, “Scooty” or “Bus” (Note: customers who come from X, Y and Z can use other modes as well). The footfall in the store indicates that 40% of the customers are from “X” and another 40% from “Y”. The remaining customers come from “Z”.
It is observed that, of the people in location “X”, 30% own only a “scooter” and travel to the store only by scooty to the store, 60% own only a “Car” and travel to the store only by car. In location “Y”, 40% own only a “Car” and travel to the store only by car, 20% own only a “Scooty” and travel to the store only by scooty, and 20% are eco-friendly and travel only by “Bus” to the store. In location “Z”, 50% own a “Scooty” and travel only by scooty to the store, 40% are eco-friendly and travel only by “Bus” to the store. Moreover, all the people living in location “X” are rich and never opt to travel to the store by “Bus”. On the contrary, the people in location “C” do not own a “Car” and never visit the store by “Car”.
Assuming the necessary mutual exclusiveness, answer the given subquestions.

The retailer is planning spend money on creating a parking space (for “Cars” and “Scooties”). Once the space is built, every day a total of 600 customers are expected. Then, what is the expected parking revenue generated from location “X” if the parking charges are set at Rs. 20 for a parking a car and Rs. 10 for parking a two-wheeler?

Show answer

Correct answer: 3600

Question 10 on its own page

Question 11

+1 markOne correct option

A retailer has data pertaining to customers who visit the shop. The customers come from only three locations “X”, “Y”, “Z”. Moreover, the customers who visits the shop predominantly come by either “Car”, “Scooty” or “Bus” (Note: customers who come from X, Y and Z can use other modes as well). The footfall in the store indicates that 40% of the customers are from “X” and another 40% from “Y”. The remaining customers come from “Z”.
It is observed that, of the people in location “X”, 30% own only a “scooter” and travel to the store only by scooty to the store, 60% own only a “Car” and travel to the store only by car. In location “Y”, 40% own only a “Car” and travel to the store only by car, 20% own only a “Scooty” and travel to the store only by scooty, and 20% are eco-friendly and travel only by “Bus” to the store. In location “Z”, 50% own a “Scooty” and travel only by scooty to the store, 40% are eco-friendly and travel only by “Bus” to the store. Moreover, all the people living in location “X” are rich and never opt to travel to the store by “Bus”. On the contrary, the people in location “C” do not own a “Car” and never visit the store by “Car”.
Assuming the necessary mutual exclusiveness, answer the given subquestions.

Recently, the store owner found a CCTV footage of a customer who shoplifts. The shoplifting customer had not arrived by “Car”, “Scooty” or “Bus”. Then which location would the owner suspect the shoplifter to belong to?

  1. A

    X

  2. B

    Y

  3. C

    Z

Show answer

Correct answer

  • B

    Y

Question 11 on its own page

Question 12

+1 markNumerical answer

The demand for cycles at IITM during the admission season is seen to follow the linear demand response curve D(p) = 300000 – 13*P. For the coming academic year, the bicycle shop at IITM is going to procure bicycles from a manufacturer at Rs. 8000/ cycle
Then answer the given subquestions.

What should be price at which the shop should the bicycle, if the aim is to maximize the revenue? (Note: Enter the answer rounded to two decimal places. For example, if the answer is “1.234”, then enter it as “1.23”)

Show answer

Correct answer: 11538.5 (accepted within ±0.5)

Question 12 on its own page

Question 13

+1 markNumerical answer

The demand for cycles at IITM during the admission season is seen to follow the linear demand response curve D(p) = 300000 – 13*P. For the coming academic year, the bicycle shop at IITM is going to procure bicycles from a manufacturer at Rs. 8000/ cycle
Then answer the given subquestions.

What should be the price at which the shop should sell a bicycle if it wants to maximize the profit? (Note: Enter the answer rounded to two decimal places. For example, if the answer is “1.234”, then enter it as “1.23”)

Show answer

Correct answer: 15538.5 (accepted within ±0.5)

Question 13 on its own page

Question 14

+1 markNumerical answer

A kirana store owner has allocated a budget of Rs. 21000 to buy fruits to sell in the store. The aim of the owner is to maximize the revenue from selling fruits. The owner has decided to buy “Apples”, “Oranges”, “Mangoes” and “Banana”. The Apples are purchased at Rs. 20/piece, the Oranges at Rs. 8/piece, Mangos at Rs. 12/piece and Bananas at Rs. 2/piece. An apple is sold for Rs. 25/piece, Orange at Rs. 18/piece, Mango at Rs. 22/piece and Banana at Rs. 5/piece. Due to physical considerations, the owner cannot buy more than 800 Apples, 500 Oranges, 600 Mangoes and 700 Bananas. Additionally, the number of Apples purchased must be at least 30% more than the number of Bananas purchased. The number of Oranges purchased must be equal to the number of Mangoes purchased. Finally, total number of fruit pieces that an owner can buy is cannot be more than 2000.
Given this information, answer the given subquestions.

How many decision variables are present in the standard form of the primal for the given problem? (Note: Enter the answer rounded to two decimal places. For example, if the answer is “1.234”, then enter it as “1.23”)

Show answer

Correct answer: 4

Question 14 on its own page

Question 15

+1 markNumerical answer

A kirana store owner has allocated a budget of Rs. 21000 to buy fruits to sell in the store. The aim of the owner is to maximize the revenue from selling fruits. The owner has decided to buy “Apples”, “Oranges”, “Mangoes” and “Banana”. The Apples are purchased at Rs. 20/piece, the Oranges at Rs. 8/piece, Mangos at Rs. 12/piece and Bananas at Rs. 2/piece. An apple is sold for Rs. 25/piece, Orange at Rs. 18/piece, Mango at Rs. 22/piece and Banana at Rs. 5/piece. Due to physical considerations, the owner cannot buy more than 800 Apples, 500 Oranges, 600 Mangoes and 700 Bananas. Additionally, the number of Apples purchased must be at least 30% more than the number of Bananas purchased. The number of Oranges purchased must be equal to the number of Mangoes purchased. Finally, total number of fruit pieces that an owner can buy is cannot be more than 2000.
Given this information, answer the given subquestions.

Based on the standard form of the primal, how many decision variables will be present in the dual formulation? (Note: Enter the answer rounded to two decimal places. For example, if the answer is “1.234”, then enter it as “1.23”)

Show answer

Correct answer: 9

Question 15 on its own page

Question 16

+1.5 marksOne or more correct options

A kirana store owner has allocated a budget of Rs. 21000 to buy fruits to sell in the store. The aim of the owner is to maximize the revenue from selling fruits. The owner has decided to buy “Apples”, “Oranges”, “Mangoes” and “Banana”. The Apples are purchased at Rs. 20/piece, the Oranges at Rs. 8/piece, Mangos at Rs. 12/piece and Bananas at Rs. 2/piece. An apple is sold for Rs. 25/piece, Orange at Rs. 18/piece, Mango at Rs. 22/piece and Banana at Rs. 5/piece. Due to physical considerations, the owner cannot buy more than 800 Apples, 500 Oranges, 600 Mangoes and 700 Bananas. Additionally, the number of Apples purchased must be at least 30% more than the number of Bananas purchased. The number of Oranges purchased must be equal to the number of Mangoes purchased. Finally, total number of fruit pieces that an owner can buy is cannot be more than 2000.
Given this information, answer the given subquestions.

Based on the standard form of the primal for the given problem, which of the following is/ are “RHS” values for the constraints in the Dual?

Select all that apply.

  1. A

    25

  2. B

    18

  3. C

    22

  4. D

    5

  5. E

    800

  6. F

    500

  7. G

    600

  8. H

    700

  9. I

    20

  10. J

    8

  11. K

    12

  12. L

    2

Show answer

Correct answers

  • A

    25

  • B

    18

  • C

    22

  • D

    5

Question 16 on its own page

Question 17

+1 markNumerical answer

A kirana store owner has allocated a budget of Rs. 21000 to buy fruits to sell in the store. The aim of the owner is to maximize the revenue from selling fruits. The owner has decided to buy “Apples”, “Oranges”, “Mangoes” and “Banana”. The Apples are purchased at Rs. 20/piece, the Oranges at Rs. 8/piece, Mangos at Rs. 12/piece and Bananas at Rs. 2/piece. An apple is sold for Rs. 25/piece, Orange at Rs. 18/piece, Mango at Rs. 22/piece and Banana at Rs. 5/piece. Due to physical considerations, the owner cannot buy more than 800 Apples, 500 Oranges, 600 Mangoes and 700 Bananas. Additionally, the number of Apples purchased must be at least 30% more than the number of Bananas purchased. The number of Oranges purchased must be equal to the number of Mangoes purchased. Finally, total number of fruit pieces that an owner can buy is cannot be more than 2000.
Given this information, answer the given subquestions.

If the owner purchases 511 Apples, 390 Bananas, 500 Oranges and 500 Mangoes, then how many constraints in the standard form of the primal will be binding? (Note: Enter the answer rounded to two decimal places. For example, if the answer is “1.234”, then enter it as “1.23”)

Show answer

Correct answer: 4

Question 17 on its own page

Question 18

+0.5 marksNumerical answer

A kirana store owner has allocated a budget of Rs. 21000 to buy fruits to sell in the store. The aim of the owner is to maximize the revenue from selling fruits. The owner has decided to buy “Apples”, “Oranges”, “Mangoes” and “Banana”. The Apples are purchased at Rs. 20/piece, the Oranges at Rs. 8/piece, Mangos at Rs. 12/piece and Bananas at Rs. 2/piece. An apple is sold for Rs. 25/piece, Orange at Rs. 18/piece, Mango at Rs. 22/piece and Banana at Rs. 5/piece. Due to physical considerations, the owner cannot buy more than 800 Apples, 500 Oranges, 600 Mangoes and 700 Bananas. Additionally, the number of Apples purchased must be at least 30% more than the number of Bananas purchased. The number of Oranges purchased must be equal to the number of Mangoes purchased. Finally, total number of fruit pieces that an owner can buy is cannot be more than 2000.
Given this information, answer the given subquestions.

If the owner purchases 511 Apples, 390 Bananas, 500 Oranges and 500 Mangoes, then what is the value of the objective function? (Note: Enter the answer rounded to two decimal places. For example, if the answer is “1.234”, then enter it as “1.23”)

Show answer

Correct answer: 34725 (accepted within ±2)

Question 18 on its own page

Question 19

+1 markNumerical answer

A kirana store owner has allocated a budget of Rs. 21000 to buy fruits to sell in the store. The aim of the owner is to maximize the revenue from selling fruits. The owner has decided to buy “Apples”, “Oranges”, “Mangoes” and “Banana”. The Apples are purchased at Rs. 20/piece, the Oranges at Rs. 8/piece, Mangos at Rs. 12/piece and Bananas at Rs. 2/piece. An apple is sold for Rs. 25/piece, Orange at Rs. 18/piece, Mango at Rs. 22/piece and Banana at Rs. 5/piece. Due to physical considerations, the owner cannot buy more than 800 Apples, 500 Oranges, 600 Mangoes and 700 Bananas. Additionally, the number of Apples purchased must be at least 30% more than the number of Bananas purchased. The number of Oranges purchased must be equal to the number of Mangoes purchased. Finally, total number of fruit pieces that an owner can buy is cannot be more than 2000.
Given this information, answer the given subquestions.

If the owner purchases 511 Apples, 390 Bananas, 500 Oranges and 500 Mangoes, then based on the standard form of the primal, how many decision variables in the dual will have a zero value? (Note: Enter the answer rounded to two decimal places. For example, if the answer is “1.234”, then enter it as “1.23”)

Show answer

Correct answer: 5

Question 19 on its own page

Question 20

+1.5 marksOne correct option

What are the two dimensions of the DEA?

  1. A

    Efficiency and quality

  2. B

    Profit and quality

  3. C

    Profit and location

  4. D

    Efficiency and profit

Show answer

Correct answer

  • D

    Efficiency and profit

Question 20 on its own page

Question 21

+1.5 marksOne correct option

When the profit increases with a unit increase in a resource, this change in profit will be shown in Solver's sensitivity report as the:

  1. A

    Profit margin

  2. B

    Shadow price

  3. C

    Part worth

  4. D

    Efficient Economic Units

Show answer

Correct answer

  • B

    Shadow price

Question 21 on its own page

Question 22

+1.5 marksOne correct option

How is a Hypothetical Composite Unit computed in DEA for a DMU using a graphical method? Assume the x-axis is input 1 and y-axis as input 2?

  1. A

    By moving horizontally towards the frontier

  2. B

    By moving vertically towards the frontier

  3. C

    By drawing a line connecting the origin and DMU

  4. D

    None of these

Show answer

Correct answer

  • C

    By drawing a line connecting the origin and DMU

Question 22 on its own page

Question 23

+1.5 marksOne correct option

In conjoint analysis, the objective function of the linear programming model using pair-wise judgments:

  1. A

    Maximize the distance from the ideal point

  2. B

    Minimize the goodness of fit

  3. C

    Minimize the poorness of fit

  4. D

    Both Maximize the distance from the ideal point and Minimize the goodness of fit

  5. E

    Both Maximize the distance from the ideal point and Minimize the poorness of fit

Show answer

Correct answer

  • C

    Minimize the poorness of fit

Question 23 on its own page

Question 24

+1.5 marksOne or more correct options

In DEA, for calculating the weights of efficiency (weighted outputs/weighted inputs), when can the Linear Programming model can be used?

Select all that apply.

  1. A

    After converting the ratio into the linear objective function

  2. B

    After normalizing the denominator

  3. C

    By setting a constraint on the efficiency of all DMUs to be greater than or equal to 1

  4. D

    All of these

Show answer

Correct answers

  • A

    After converting the ratio into the linear objective function

  • B

    After normalizing the denominator

Question 24 on its own page

Question 25

+1.5 marksOne or more correct options

What is the format of data needed for performing the conjoint analysis using the Statistical or Linear Regression Approach?

Select all that apply.

  1. A

    Ratings of Consumer Choice Data

  2. B

    Consumer Choice Data is Pairwise Comparison

  3. C

    Value of the attributes are continuous

  4. D

    Value of the product attributes are categorical

Show answer

Correct answers

  • A

    Ratings of Consumer Choice Data

  • D

    Value of the product attributes are categorical

Question 25 on its own page

Question 26

+2 marksOne correct option

There are 4 business units. There are two outputs and one input under consideration. You are solving the optimization problem for business unit 3 and find that the efficiency is 0.8. You find that the dual variables corresponding to the constraints of business units 3 and 5 are non-zero and the dual variables corresponding to the constraints of other units are zero. The dual variables corresponding to the constraints of business units 3 and 5 are 0.35 and 0.45 respectively. You are given the following table where sales and number of leads are the two outputs. What is the Total Profit in HCU 4?

Hint: Round off answers to 4 decimal places in every step of your calculation

Total Profit (1000 $)Market Share (%)
DMU 315,00055%
DMU 518,00060%
  1. A

    16687.5

  2. B

    15687.5

  3. C

    18687.5

  4. D

    14987.5

Show answer

Correct answer

  • A

    16687.5

Question 26 on its own page

Question 27

+2 marksOne correct option

What is choice-based conjoint analysis?

  1. A

    Consumer chooses the most preferred full profile product amongst a set of 3 to 4 options.

  2. B

    Customers are asked questions that change dynamically based on their answers.

  3. C

    For a given amount of money(say 100$), which attribute is preferred by the customer

  4. D

    Both Consumer chooses the most preferred full profile product amongst a set of 3 to 4 options and Customers are asked questions that change dynamically based on their answers.

  5. E

    Both Consumer chooses the most preferred full profile product amongst a set of 3 to 4 options and For a given amount of money(say 100$), which attribute is preferred by the customer

Show answer

Correct answer

  • A

    Consumer chooses the most preferred full profile product amongst a set of 3 to 4 options.

Question 27 on its own page

Question 28

+1.5 marksNumerical answer

A Professor company wants to understand his/her model performance of a classification problem where the students who completed the assignment are labeled as 1 and those not completed are labeled as 0. Using the table given below, answer the subquestions.

S.Noy_predy_actual
1CompletedNot Completed
2Not CompletedNot Completed
3Not CompletedCompleted
4CompletedCompleted
5CompletedCompleted
6CompletedNot Completed
7CompletedCompleted
8Not CompletedCompleted
9CompletedNot Completed
10Not CompletedNot Completed
11Not CompletedNot Completed
12CompletedCompleted
13CompletedCompleted
14Not CompletedNot Completed

What is the accuracy of the model?(in %)
Hint: Round your answer to two decimal places.

Show answer

Correct answer: 64.25 (accepted within ±0.25)

Question 28 on its own page

Question 29

+1.5 marksNumerical answer

A Professor company wants to understand his/her model performance of a classification problem where the students who completed the assignment are labeled as 1 and those not completed are labeled as 0. Using the table given below, answer the subquestions.

S.Noy_predy_actual
1CompletedNot Completed
2Not CompletedNot Completed
3Not CompletedCompleted
4CompletedCompleted
5CompletedCompleted
6CompletedNot Completed
7CompletedCompleted
8Not CompletedCompleted
9CompletedNot Completed
10Not CompletedNot Completed
11Not CompletedNot Completed
12CompletedCompleted
13CompletedCompleted
14Not CompletedNot Completed

What is the precision of class 1?(in %)
Hint: Round your answer to two decimal places.

Show answer

Correct answer: 71.4 (accepted within ±0.2)

Question 29 on its own page

Question 30

+1.5 marksNumerical answer

A Professor company wants to understand his/her model performance of a classification problem where the students who completed the assignment are labeled as 1 and those not completed are labeled as 0. Using the table given below, answer the subquestions.

S.Noy_predy_actual
1CompletedNot Completed
2Not CompletedNot Completed
3Not CompletedCompleted
4CompletedCompleted
5CompletedCompleted
6CompletedNot Completed
7CompletedCompleted
8Not CompletedCompleted
9CompletedNot Completed
10Not CompletedNot Completed
11Not CompletedNot Completed
12CompletedCompleted
13CompletedCompleted
14Not CompletedNot Completed

What is the recall of class 1?(in %)
Hint: Round your answer to two decimal places.

Show answer

Correct answer: 62.55 (accepted within ±0.25)

Question 30 on its own page

Question 31

+1.5 marksNumerical answer

A Professor company wants to understand his/her model performance of a classification problem where the students who completed the assignment are labeled as 1 and those not completed are labeled as 0. Using the table given below, answer the subquestions.

S.Noy_predy_actual
1CompletedNot Completed
2Not CompletedNot Completed
3Not CompletedCompleted
4CompletedCompleted
5CompletedCompleted
6CompletedNot Completed
7CompletedCompleted
8Not CompletedCompleted
9CompletedNot Completed
10Not CompletedNot Completed
11Not CompletedNot Completed
12CompletedCompleted
13CompletedCompleted
14Not CompletedNot Completed

What is the precision of class 0? (in %)
Hint: Round your answer to two decimal places.

Show answer

Correct answer: 57.25 (accepted within ±0.25)

Question 31 on its own page

Question 32

+1.5 marksNumerical answer

A Professor company wants to understand his/her model performance of a classification problem where the students who completed the assignment are labeled as 1 and those not completed are labeled as 0. Using the table given below, answer the subquestions.

S.Noy_predy_actual
1CompletedNot Completed
2Not CompletedNot Completed
3Not CompletedCompleted
4CompletedCompleted
5CompletedCompleted
6CompletedNot Completed
7CompletedCompleted
8Not CompletedCompleted
9CompletedNot Completed
10Not CompletedNot Completed
11Not CompletedNot Completed
12CompletedCompleted
13CompletedCompleted
14Not CompletedNot Completed

What is the recall of class 0? (in %)
Hint: Round your answer to two decimal places.

Show answer

Correct answer: 66.65 (accepted within ±0.15)

Question 32 on its own page

Question 33

+1.5 marksNumerical answer

The demand for candy at different prices in the supermarket is specified in the table below. Given this data, answer the given subquestions (Note: For all the sub-questions, round your answer to two decimal places. Eg: If your answer is 10.256, then round it to 10.26)

PriceCandy Demand
10200
20175
30150
40125
50100
6075

If a linear demand-response curve is fit for the data, what is the satiating price?

Show answer

Correct answer: 90

Question 33 on its own page

Question 34

+1.5 marksNumerical answer

The demand for candy at different prices in the supermarket is specified in the table below. Given this data, answer the given subquestions (Note: For all the sub-questions, round your answer to two decimal places. Eg: If your answer is 10.256, then round it to 10.26)

PriceCandy Demand
10200
20175
30150
40125
50100
6075

If a linear demand-response curve is fit for the data, what is the market size?

Show answer

Correct answer: 225

Question 34 on its own page

Question 35

+1.5 marksNumerical answer

The demand for candy at different prices in the supermarket is specified in the table below. Given this data, answer the given subquestions (Note: For all the sub-questions, round your answer to two decimal places. Eg: If your answer is 10.256, then round it to 10.26)

PriceCandy Demand
10200
20175
30150
40125
50100
6075

What is the elasticity of the linear demand-response curve, when the price is Rs. 50?
Hint: Round your answer to two decimal places and answer them in terms of percentage.

Show answer

Correct answer: 1.25

Question 35 on its own page