Description
ASSIGNMENT
Course Code : MMPC-005
Course Title : Quantitative Analysis For Managerial Applications
Assignment Code : MMPC-005/TMA/ JULY/2024
Coverage : All Blocks
Note: Attempt all the questions and submit this assignment to the Coordinator of your
study centre. Last date of submission for July 2024 session is 31st October, 2024 and
for January 2025 session is 30th April 2025.
1. Describe briefly the questionnaire method of collecting primary data. State the essentials
of a good questionnaire.
2. Discuss the importance of measuring variability for managerial decision-making.
3. An investment consultant predicts that the odds against the price of a certain stock will go
up during the next week are 2:1 and the odds in favour of the price remaining the same
are 1:3. What is the probability that the price of the stock will go down during the next
week?
4. In practice, we find situations where it is not possible to make any probability
assessment. What criterion can be used in decision-making situations where the
probabilities of outcomes are unknown?
5. A purchase manager knows that the hardness of castings from any supplier is normally
distributed with a mean of 20.25 and SD of 2.5. He picks up 100 samples of castings
from any supplier who claims that his castings have heavier hardness and finds the mean
hardness as 20.50. Test whether the claim of the supplier is tenable.
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