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September 2023 term · Business Analytics · BSMS2002

Business Analytics End Term: 24 December 2023, Set FDF1 (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 FDF1: 34 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
34
Marks
45
Duration
180 min
MCQ
9
MSQ
2
Numerical
23
Take as mock testPractise with answers

Updated

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

Question 1

+1 markOne correct option
  1. A

    The distribution is right skewed

  2. B

    The distribution is symmetric

  3. C

    The distribution is left skewed

  4. D

    Cannot say without the skewness value

Show answer

Correct answer

  • A

    The distribution is right skewed

Question 1 on its own page

Question 2

+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 Market Share 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

    67.8125

  2. B

    47.8125

  3. C

    65.8128

  4. D

    57.8125

Show answer

Correct answer

  • D

    57.8125

Question 2 on its own pageAlso asked in End Term 24 Dec 2023

Question 3

+2 marksOne correct option

In the below diagram, the customer wants to decide between the products O1 & O2, and x denotes the coordinates of the ideal product. Which of the following are true?

  1. A

    Customers will prefer O2 when d1<d2

  2. B

    Both Customers will prefer O2 when d1<d2 and Customers will prefer O1 when d2>d1

  3. C

    Customers will prefer O1 when d2>d1

  4. D

    None of these

Show answer

Correct answer

  • C

    Customers will prefer O1 when d2>d1

Question 3 on its own page

Question 4

+1.5 marksOne correct option

Data Envelopment Analysis (DEA) is a method for:

  1. A

    Measuring a firm's quality performance by comparing it with other companies that are recognized as "best in class."

  2. B

    Determining the feasibility of technological innovations in service operations.

  3. C

    Comparing the efficiency of multiple service units that provide similar services.

  4. D

    Analyzing the gap between the service customer's expectations and perceptions.

Show answer

Correct answer

  • C

    Comparing the efficiency of multiple service units that provide similar services.

Question 4 on its own pageAlso asked in End Term 24 Dec 2023

Question 5

+1.5 marksOne correct option
  1. A
  2. B
  3. C
  4. D
Show answer

Correct answer

  • B
Question 5 on its own page

Question 6

+1.5 marksOne correct option

If the attribute values in the conjoint analysis is a continuous variable and the data is collected in a pairwise order, then what approach can be used:

  1. A

    Regression or Statistical approach

  2. B

    Optimization approach

  3. C

    Both Regression or Statistical approach and Optimization approach

  4. D

    None of these

Show answer

Correct answer

  • B

    Optimization approach

Question 6 on its own pageAlso asked in End Term 24 Dec 2023

Question 7

+1.5 marksOne correct option

The part worth can be defined as:

  1. A

    Level utilities

  2. B

    The utility for that level of attribute

  3. C

    Utility for separate parts of the products

  4. D

    Both Level utilities and The utility for that level of attribute

  5. E

    All of these

Show answer

Correct answer

  • E

    All of these

Question 7 on its own pageAlso asked in End Term 24 Dec 2023

Question 8

+1.5 marksOne or more correct options

What is productive efficiency?

Select all that apply.

  1. A

    Consists of all combinations of outputs such that the production of one product cannot be increased without sacrificing the output of the other (without any change in technology)

  2. B

    It is an aspect of economic efficiency focussing on maximizing the output under given constraints.

  3. C

    Productive efficiency does not worry about optimal allocation, or choice of products

  4. D

    Both Consists of all combinations of outputs such that the production of one product cannot be increased without sacrificing the output of the other (without any change in technology) and It is an aspect of economic efficiency focussing on maximizing the output under given constraints.

  5. E

    Both It is an aspect of economic efficiency focussing on maximizing the output under given constraints and Productive efficiency does not worry about optimal allocation, or choice of products

Show answer

Correct answers

  • B

    It is an aspect of economic efficiency focussing on maximizing the output under given constraints.

  • C

    Productive efficiency does not worry about optimal allocation, or choice of products

Question 8 on its own pageAlso asked in End Term 24 Dec 2023

Question 9

+1.5 marksOne or more correct options

There are 7 business units and you are using the DEA to compare them. You solve the LP for business unit 5. You find from the constraint expression that business unit 4 has obtained an efficiency of 0.9 and business unit 2 has obtained an efficiency of 0.6 with the optimal weights of business unit 5. Which of the following statements is correct?

Select all that apply.

  1. A

    Business unit 5 may be inefficient

  2. B

    Business unit 4 will be inefficient

  3. C

    Business unit 5 may be efficient

  4. D

    Business unit 2 will be inefficient

Show answer

Correct answers

  • B

    Business unit 4 will be inefficient

  • D

    Business unit 2 will be inefficient

Question 9 on its own pageAlso asked in End Term 24 Dec 2023

Question 10

+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 “A” 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: 3.5

Question 10 on its own pageAlso asked in End Term 24 Dec 2023

Question 11

+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 “A” 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 11 on its own pageAlso asked in End Term 24 Dec 2023

Question 12

+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 “A” 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: 2.5 (accepted within ±0.2)

Question 12 on its own pageAlso asked in End Term 24 Dec 2023

Question 13

+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 “A” 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 8.92, then which of the following statements are correct?

  1. A

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

  2. B

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

  3. C

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

  4. D

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

Show answer

Correct answer

  • B

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

Question 13 on its own pageAlso asked in End Term 24 Dec 2023

Question 14

+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 “A” 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 14 on its own pageAlso asked in End Term 24 Dec 2023

Question 15

+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 “A” 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-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: 121.5 (accepted within ±0.5)

Question 15 on its own pageAlso asked in End Term 24 Dec 2023

Question 16

+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 “A” 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-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: 113 (accepted within ±1)

Question 16 on its own pageAlso asked in End Term 24 Dec 2023

Question 17

+1 markNumerical answer

The three figures below (Picture-1, Picture-2, Picture-3) provide the partial regression output from excel for three models (Model-1, Model-2 and Model-3) which were built on the same data (Hint: same number of rows, different number of columns).

Given this information, answer the given subquestions.

ANOVA

dfSSMSFSignificance F
Regression3A1561.942824.961980.000867642
Residual6135.071722.51195
Total91820.9

Picture-1: Partial Results from Excel for Model-1

ANOVA

dfSSMSFSignificance F
Regression21685.62543.612540.000111753
Residual135.275
Total9

Picture-2: Partial Results from Excel for Model-2

SUMMARY OUTPUT

Regression Statistics
Multiple R0.846545
R Square0.716638
Adjusted R Square0.681218
Standard Error8.030988
Observations10

ANOVA

dfSSMSFSignificance F
Regression1A220.232420.00200727
Residual8A3
Total9A4

Picture-3: Partial Results from Excel for Model-3

What is the value of “A1”? (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: 1685.5 (accepted within ±2.5)

Question 17 on its own pageAlso asked in End Term 24 Dec 2023

Question 18

+1 markNumerical answer

The three figures below (Picture-1, Picture-2, Picture-3) provide the partial regression output from excel for three models (Model-1, Model-2 and Model-3) which were built on the same data (Hint: same number of rows, different number of columns).

Given this information, answer the given subquestions.

ANOVA

dfSSMSFSignificance F
Regression3A1561.942824.961980.000867642
Residual6135.071722.51195
Total91820.9

Picture-1: Partial Results from Excel for Model-1

ANOVA

dfSSMSFSignificance F
Regression21685.62543.612540.000111753
Residual135.275
Total9

Picture-2: Partial Results from Excel for Model-2

SUMMARY OUTPUT

Regression Statistics
Multiple R0.846545
R Square0.716638
Adjusted R Square0.681218
Standard Error8.030988
Observations10

ANOVA

dfSSMSFSignificance F
Regression1A220.232420.00200727
Residual8A3
Total9A4

Picture-3: Partial Results from Excel for Model-3

What is the value of “A2”? (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: 1304 (accepted within ±2)

Question 18 on its own pageAlso asked in End Term 24 Dec 2023

Question 19

+1 markNumerical answer

The three figures below (Picture-1, Picture-2, Picture-3) provide the partial regression output from excel for three models (Model-1, Model-2 and Model-3) which were built on the same data (Hint: same number of rows, different number of columns).

Given this information, answer the given subquestions.

ANOVA

dfSSMSFSignificance F
Regression3A1561.942824.961980.000867642
Residual6135.071722.51195
Total91820.9

Picture-1: Partial Results from Excel for Model-1

ANOVA

dfSSMSFSignificance F
Regression21685.62543.612540.000111753
Residual135.275
Total9

Picture-2: Partial Results from Excel for Model-2

SUMMARY OUTPUT

Regression Statistics
Multiple R0.846545
R Square0.716638
Adjusted R Square0.681218
Standard Error8.030988
Observations10

ANOVA

dfSSMSFSignificance F
Regression1A220.232420.00200727
Residual8A3
Total9A4

Picture-3: Partial Results from Excel for Model-3

What is the value of “A3”? (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: 515 (accepted within ±2)

Question 19 on its own page

Question 20

+1 markNumerical answer

The three figures below (Picture-1, Picture-2, Picture-3) provide the partial regression output from excel for three models (Model-1, Model-2 and Model-3) which were built on the same data (Hint: same number of rows, different number of columns).

Given this information, answer the given subquestions.

ANOVA

dfSSMSFSignificance F
Regression3A1561.942824.961980.000867642
Residual6135.071722.51195
Total91820.9

Picture-1: Partial Results from Excel for Model-1

ANOVA

dfSSMSFSignificance F
Regression21685.62543.612540.000111753
Residual135.275
Total9

Picture-2: Partial Results from Excel for Model-2

SUMMARY OUTPUT

Regression Statistics
Multiple R0.846545
R Square0.716638
Adjusted R Square0.681218
Standard Error8.030988
Observations10

ANOVA

dfSSMSFSignificance F
Regression1A220.232420.00200727
Residual8A3
Total9A4

Picture-3: Partial Results from Excel for Model-3

What is the value of “A4”? (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: 1820.5 (accepted within ±0.5)

Question 20 on its own pageAlso asked in End Term 24 Dec 2023

Question 21

+1.5 marksNumerical answer

The three figures below (Picture-1, Picture-2, Picture-3) provide the partial regression output from excel for three models (Model-1, Model-2 and Model-3) which were built on the same data (Hint: same number of rows, different number of columns).

Given this information, answer the given subquestions.

ANOVA

dfSSMSFSignificance F
Regression3A1561.942824.961980.000867642
Residual6135.071722.51195
Total91820.9

Picture-1: Partial Results from Excel for Model-1

ANOVA

dfSSMSFSignificance F
Regression21685.62543.612540.000111753
Residual135.275
Total9

Picture-2: Partial Results from Excel for Model-2

SUMMARY OUTPUT

Regression Statistics
Multiple R0.846545
R Square0.716638
Adjusted R Square0.681218
Standard Error8.030988
Observations10

ANOVA

dfSSMSFSignificance F
Regression1A220.232420.00200727
Residual8A3
Total9A4

Picture-3: Partial Results from Excel for Model-3

What is the value of R-Squared for Model-1? (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 CONVERT THE ANSWER TO PERCENTAGE)

Show answer

Correct answer: 0.88 (accepted within ±0.02)

Question 21 on its own pageAlso asked in End Term 24 Dec 2023

Question 22

+1.5 marksNumerical answer

The three figures below (Picture-1, Picture-2, Picture-3) provide the partial regression output from excel for three models (Model-1, Model-2 and Model-3) which were built on the same data (Hint: same number of rows, different number of columns).

Given this information, answer the given subquestions.

ANOVA

dfSSMSFSignificance F
Regression3A1561.942824.961980.000867642
Residual6135.071722.51195
Total91820.9

Picture-1: Partial Results from Excel for Model-1

ANOVA

dfSSMSFSignificance F
Regression21685.62543.612540.000111753
Residual135.275
Total9

Picture-2: Partial Results from Excel for Model-2

SUMMARY OUTPUT

Regression Statistics
Multiple R0.846545
R Square0.716638
Adjusted R Square0.681218
Standard Error8.030988
Observations10

ANOVA

dfSSMSFSignificance F
Regression1A220.232420.00200727
Residual8A3
Total9A4

Picture-3: Partial Results from Excel for Model-3

What is the value of Adjusted R-Square for Model-2? (Note: Enter the answer in rounded to two decimal places. For example, if the answer is “1.234”, then enter it as “1.23”. DO NOT CONVERT THE ANSWER TO PERCENTAGE)

Show answer

Correct answer: 0.68 (accepted within ±0.02)

Question 22 on its own pageAlso asked in End Term 24 Dec 2023

Question 23

+1 markOne correct option

The three figures below (Picture-1, Picture-2, Picture-3) provide the partial regression output from excel for three models (Model-1, Model-2 and Model-3) which were built on the same data (Hint: same number of rows, different number of columns).

Given this information, answer the given subquestions.

ANOVA

dfSSMSFSignificance F
Regression3A1561.942824.961980.000867642
Residual6135.071722.51195
Total91820.9

Picture-1: Partial Results from Excel for Model-1

ANOVA

dfSSMSFSignificance F
Regression21685.62543.612540.000111753
Residual135.275
Total9

Picture-2: Partial Results from Excel for Model-2

SUMMARY OUTPUT

Regression Statistics
Multiple R0.846545
R Square0.716638
Adjusted R Square0.681218
Standard Error8.030988
Observations10

ANOVA

dfSSMSFSignificance F
Regression1A220.232420.00200727
Residual8A3
Total9A4

Picture-3: Partial Results from Excel for Model-3

Which model is the best model for the provided data?

  1. A

    Model-1

  2. B

    Model-2

  3. C

    Model-3

  4. D

    None of the models

Show answer

Correct answer

  • B

    Model-2

Question 23 on its own pageAlso asked in End Term 24 Dec 2023

Question 24

+1 markNumerical answer

A juice shop has been operating in IITM. The price of its most fast-moving juice “The Mango Delight” varies from month to month based on price of mangoes. The price for the juice and the demand for the juice in the past is given in Table-2.

If the demand response curve for “The Mango Delight” is modelled assuming it as “Linear Demand Response” then what is the maximum possible demand? (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: 2500

Question 24 on its own page

Question 25

+1 markNumerical answer

A juice shop has been operating in IITM. The price of its most fast-moving juice “The Mango Delight” varies from month to month based on price of mangoes. The price for the juice and the demand for the juice in the past is given in Table-2.

If the demand response curve for “The Mango Delight” is modelled assuming it as “Linear Demand Response” then what is the satiating price? (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: 125

Question 25 on its own page

Question 26

+1 markNumerical answer

A juice shop has been operating in IITM. The price of its most fast-moving juice “The Mango Delight” varies from month to month based on price of mangoes. The price for the juice and the demand for the juice in the past is given in Table-2.

What is the difference in elasticity (at a price of Rs. 130/ glass) when modelling the curve as a “Linear Demand Response” as compared to a “Constant Elasticity Curve” (Note: Enter the answer as an absolute number (only magnitude) rounded to two decimal places. For example if the answer is “- 1.2345” then enter it as “1.23”)

Show answer

Correct answer: 13 (accepted within ±6)

Question 26 on its own page

Question 27

+1 markNumerical answer

A banking company wants to understand its model performance of a classification problem where the customers who purchased the insurance are labeled as 1 and those not purchased are labeled as 0. Using the table answer the given subquestions.

S.Noy_predy_actual
1PurchasedNot Purchased
2Not PurchasedNot Purchased
3Not PurchasedPurchased
4PurchasedPurchased
5PurchasedPurchased
6PurchasedNot Purchased
7PurchasedPurchased
8Not PurchasedPurchased
9PurchasedNot Purchased
10Not PurchasedNot Purchased
11Not PurchasedNot Purchased
12PurchasedPurchased

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

Show answer

Correct answer: 58.35 (accepted within ±0.25)

Question 27 on its own pageAlso asked in End Term 24 Dec 2023

Question 28

+1.5 marksNumerical answer

A banking company wants to understand its model performance of a classification problem where the customers who purchased the insurance are labeled as 1 and those not purchased are labeled as 0. Using the table answer the given subquestions.

S.Noy_predy_actual
1PurchasedNot Purchased
2Not PurchasedNot Purchased
3Not PurchasedPurchased
4PurchasedPurchased
5PurchasedPurchased
6PurchasedNot Purchased
7PurchasedPurchased
8Not PurchasedPurchased
9PurchasedNot Purchased
10Not PurchasedNot Purchased
11Not PurchasedNot Purchased
12PurchasedPurchased

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

Show answer

Correct answer: 66.65 (accepted within ±0.15)

Question 28 on its own pageAlso asked in End Term 24 Dec 2023

Question 29

+1.5 marksNumerical answer

A banking company wants to understand its model performance of a classification problem where the customers who purchased the insurance are labeled as 1 and those not purchased are labeled as 0. Using the table answer the given subquestions.

S.Noy_predy_actual
1PurchasedNot Purchased
2Not PurchasedNot Purchased
3Not PurchasedPurchased
4PurchasedPurchased
5PurchasedPurchased
6PurchasedNot Purchased
7PurchasedPurchased
8Not PurchasedPurchased
9PurchasedNot Purchased
10Not PurchasedNot Purchased
11Not PurchasedNot Purchased
12PurchasedPurchased

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

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Correct answer: 57.2 (accepted within ±0.2)

Question 29 on its own pageAlso asked in End Term 24 Dec 2023

Question 30

+1.5 marksNumerical answer

A banking company wants to understand its model performance of a classification problem where the customers who purchased the insurance are labeled as 1 and those not purchased are labeled as 0. Using the table answer the given subquestions.

S.Noy_predy_actual
1PurchasedNot Purchased
2Not PurchasedNot Purchased
3Not PurchasedPurchased
4PurchasedPurchased
5PurchasedPurchased
6PurchasedNot Purchased
7PurchasedPurchased
8Not PurchasedPurchased
9PurchasedNot Purchased
10Not PurchasedNot Purchased
11Not PurchasedNot Purchased
12PurchasedPurchased

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

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Correct answer: 50 (accepted within ±0.1)

Question 30 on its own pageAlso asked in End Term 24 Dec 2023

Question 31

+1.5 marksNumerical answer

A banking company wants to understand its model performance of a classification problem where the customers who purchased the insurance are labeled as 1 and those not purchased are labeled as 0. Using the table answer the given subquestions.

S.Noy_predy_actual
1PurchasedNot Purchased
2Not PurchasedNot Purchased
3Not PurchasedPurchased
4PurchasedPurchased
5PurchasedPurchased
6PurchasedNot Purchased
7PurchasedPurchased
8Not PurchasedPurchased
9PurchasedNot Purchased
10Not PurchasedNot Purchased
11Not PurchasedNot Purchased
12PurchasedPurchased

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

Show answer

Correct answer: 60 (accepted within ±0.1)

Question 31 on its own pageAlso asked in End Term 24 Dec 2023

Question 32

+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 sub-questions (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
40500
60450
80400
100350
120300
140250

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

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Correct answer: 240

Question 32 on its own pageAlso asked in End Term 24 Dec 2023

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 sub-questions (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
40500
60450
80400
100350
120300
140250

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

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Correct answer: 600

Question 33 on its own pageAlso asked in End Term 24 Dec 2023

Question 34

+2 marksNumerical answer

The demand for candy at different prices in the supermarket is specified in the table below. Given this data, answer the given sub-questions (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
40500
60450
80400
100350
120300
140250

What is the elasticity of the linear demand-response curve, when the price is Rs. 140?

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Correct answer: 1.4

Question 34 on its own pageAlso asked in End Term 24 Dec 2023