Business Analytics Quiz 1: 25 February 2024 (January 2024 term)

From the Figure-1, which of the below statements are true?

The p-value of the chi-square goodness of fit test represents ____________

Which of the following distributions is/are symmetric in nature (select all that are applicable)?

A data set with 450 data points provides information on 13 variables. Chi-square goodness of fit test is conducted on a variable in the data-set, to see if it follows a normal distribution. If the dataset is binned into 15 bins, then how many degrees of freedom does the chi-square statistic have?

The linear demand response for a product–X is modelled as a simple linear regression represented as D(P) = 5000 – 20*P, where D(P) is the demand at price-P. Then, answer the given subquestions.

What is the elasticity of this curve when the price is Rs.100?
(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)

The linear demand response for a product–X is modelled as a simple linear regression represented as D(P) = 5000 – 20*P, where D(P) is the demand at price-P. Then, answer the given subquestions.

What is the satiating price for this curve?
(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)

Using the excel regression output given in Figure-2 answer the given sub questions.

SUMMARY OUTPUT

ANOVA

Figure-2

What is the value of “X1”?

Using the excel regression output given in Figure-2 answer the given sub questions.

SUMMARY OUTPUT

ANOVA

Figure-2

What is the value of “X2”? (Note: Enter the answer rounded to two decimal places. For example, if the answer is “1.234”, then enter it as “1.23”)

Using the excel regression output given in Figure-2 answer the given sub questions.

SUMMARY OUTPUT

ANOVA

Figure-2

What is the value of “X3”? (Note: Enter the answer rounded to two decimal places. For example, if the answer is “1.234”, then enter it as “1.23”)

Using the excel regression output given in Figure-2 answer the given sub questions.

SUMMARY OUTPUT

ANOVA

Figure-2

What is the value of “X4”?

Given the imaginary demand response curve in the below figure, answer the given subquestions.

Which of the following statements are true? (choose all that is applicable)

Given the imaginary demand response curve in the below figure, answer the given subquestions.

What is the elasticity between any two points of the given demand response curve?
(Note-1: Do not assume that it is linear and do not assume that it is a constant elasticity curve) (Note-2: 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)

Given the imaginary demand response curve in the below figure, answer the given subquestions.

Based on the computed elasticity, what kind of demand is being exhibited by the product?

You are given the following contingency table (Table-1) based on sample data where different cities and their brand preferences are provided. You perform a chi-squared test of independence to make inferences about the population from this sample.

Based on the above data, answer the given subquestions.

From the given contingency table, find the expected frequency of Chennai people preferring brand B?
(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)

You are given the following contingency table (Table-1) based on sample data where different cities and their brand preferences are provided. You perform a chi-squared test of independence to make inferences about the population from this sample.

Based on the above data, answer the given subquestions.

What is the calculated value of chi-squared?
(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)

You are given the following contingency table (Table-1) based on sample data where different cities and their brand preferences are provided. You perform a chi-squared test of independence to make inferences about the population from this sample.

Based on the above data, answer the given subquestions.

At the significance level 0.01, chi-squared tabular value is 6.63. What do you conclude?

The application for the degree “Master in Being Useless (MBU)” has begun at “Star University (SU)”. The applicants to SU are from three professional categories namely “TV Watcher”, “Mobile Gamer” and “Procrastinator”. The previous year admissions indicate that 20% of the total applications are Procrastinators, 40% are Mobile Gamers and the rest are TV Watchers.
When examining past applications submitted by the three professional categories, it is seen that the applications are either “Fully Completed”, “Half Completed” or “Blank”. It is observed that among the “Mobile Gamer” applications that are received, 30% are “Fully Completed” and 60% is “Half Completed”. For TV Watcher applications that are received, 40% are “Half Completed” and 20% are “Blank”. Among all received Procrastinator applications, 50% have submitted “Blank” applications and 40% have submitted “Half Completed” applications.
Assuming the necessary mutual exclusiveness, answer the given subquestions.

What is the probability that an application for the coming admission will be “Fully Completed”? (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)

The application for the degree “Master in Being Useless (MBU)” has begun at “Star University (SU)”. The applicants to SU are from three professional categories namely “TV Watcher”, “Mobile Gamer” and “Procrastinator”. The previous year admissions indicate that 20% of the total applications are Procrastinators, 40% are Mobile Gamers and the rest are TV Watchers.
When examining past applications submitted by the three professional categories, it is seen that the applications are either “Fully Completed”, “Half Completed” or “Blank”. It is observed that among the “Mobile Gamer” applications that are received, 30% are “Fully Completed” and 60% is “Half Completed”. For TV Watcher applications that are received, 40% are “Half Completed” and 20% are “Blank”. Among all received Procrastinator applications, 50% have submitted “Blank” applications and 40% have submitted “Half Completed” applications.
Assuming the necessary mutual exclusiveness, answer the given subquestions.

If a total of 550 applications are expected to be received for the upcoming admission, then how many would you expect to be “Blank”?
(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)

The application for the degree “Master in Being Useless (MBU)” has begun at “Star University (SU)”. The applicants to SU are from three professional categories namely “TV Watcher”, “Mobile Gamer” and “Procrastinator”. The previous year admissions indicate that 20% of the total applications are Procrastinators, 40% are Mobile Gamers and the rest are TV Watchers.
When examining past applications submitted by the three professional categories, it is seen that the applications are either “Fully Completed”, “Half Completed” or “Blank”. It is observed that among the “Mobile Gamer” applications that are received, 30% are “Fully Completed” and 60% is “Half Completed”. For TV Watcher applications that are received, 40% are “Half Completed” and 20% are “Blank”. Among all received Procrastinator applications, 50% have submitted “Blank” applications and 40% have submitted “Half Completed” applications.
Assuming the necessary mutual exclusiveness, answer the given subquestions.

SU is planning spend money on advertising to increase applications. Once the advertising is completed, a total of 600 applications are expected. Then, what is the expected revenue that can be generated from “TV Watcher” category if an application fee of Rs. 500 is charged for “Blank” applications, Rs. 200 is charged for “Half Completed” applications and Rs. 100 is for “Fully Completed” applications? (Note: Enter the answer rounded to two decimal places. For example, if the answer is “1.234”, then enter it as “1.23”)

The application for the degree “Master in Being Useless (MBU)” has begun at “Star University (SU)”. The applicants to SU are from three professional categories namely “TV Watcher”, “Mobile Gamer” and “Procrastinator”. The previous year admissions indicate that 20% of the total applications are Procrastinators, 40% are Mobile Gamers and the rest are TV Watchers.
When examining past applications submitted by the three professional categories, it is seen that the applications are either “Fully Completed”, “Half Completed” or “Blank”. It is observed that among the “Mobile Gamer” applications that are received, 30% are “Fully Completed” and 60% is “Half Completed”. For TV Watcher applications that are received, 40% are “Half Completed” and 20% are “Blank”. Among all received Procrastinator applications, 50% have submitted “Blank” applications and 40% have submitted “Half Completed” applications.
Assuming the necessary mutual exclusiveness, answer the given subquestions.

Recently, you saw a person applying to “SU”. The person had submitted the application “Half Completed”. Then which category would you suspect the person to belong to?