Course Business Statistics aapki education in rs 199

Types of random sample survey, in general
There are numerous ways of getting a sample, but here are the most commonly used sampling methods:

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NMIMS Global Access
School for Continuing Education (NGA-SCE)
Course: Business Statistics
Internal Assignment Applicable for April 2019 Examination

Question 1. Consider the following data of 26 restaurants serving in Mumbai.
Is the Location variable - a nominal, an ordinal, an interval or a ratio variable? How can we code it so that we can use it in analysis (hint: binary)?
Restaurant Location Area Number of Sales in
(square feet) items in menu crores
A Busy 2500 35 4.1
B Less busy 50 45 5.1
C Busy 450 36 4.3
D Less busy 700 45 4.9
E Busy 700 40 4.7
F Less busy 400 25 2.6
G Busy 800 50 5.2
H Less busy 300 20 2.2
I Less busy 350 34 3.8
J Busy 700 42 4.1
K Busy 450 34 3.9
L Less busy 200 12 1.6
M Busy 500 30 2.7
N Less busy 400 37 3.9
O Busy 500 35 3.1
P Less busy 600 32 3
Q Busy 800 45 4.9
R Less busy 400 35 3.8
S Busy 650 40 4
T Less busy 400 25 2.3
U Less busy 900 52 5.1
V Busy 500 42 4.2
W Busy 350 40 4.1
X Less busy 300 25 2.2
Y Busy 700 30 3
Z Less busy 300 20 2.1
14900 906 94.9

Which of the variables are determining Sales based on the above data? Take p < 0.05 for interpreting your multiple regressions. You can use output from Ms-Excel or other software,but you are required to interpret it. Is your regression model statistically significant? How is Adjusted R2 different from R2?

Suppose, you want to open a new restaurant. Given that this new restaurant of 1000 square
Feet will be located in a busy location and will have 40 items in its menu - what would bethe predicted sales?

SOLUTION 1

Busy 9,600
Sales in Crore 52.3

Question 2.
Based on the data in question 1 above, suppose that in order to plan the area (square feet) ofyour new restaurant, you want to consider information about the area (square feet) ofexisting restaurants. What is more appropriate in this case mean,median or mode?
Calculate them and explain.
What do you know about the symmetry of the distribution of the Number of Items in Menu?As an investor you do not want much variability in Sales. Calculate standard deviation andinter-quartile-range of Sales and comment when they are useful as measures. What values(maximum, minimum) of Sales lie within two standard deviations, assuming normaldistribution?
SOLUTION 2
Mean - The Mean are the arithmetic average of a data set. This is found by adding the numbers in a data set and dividing by how many numbers there are.
The median is the middle number in a data set when the numbers are listed in either ascending or

Question 3
Suppose you are a consultant hired to help NMIMS in understanding student perception ofquality of study materials and student assessment process at NMIMS.
a. What are the types of random sample survey, in general? What sampling methodwould you recommend in this case for your study and why?
b. Consider the scores from a multiple-choice test from a question bank (random),used for student assessment. Explain Central Limit Theorem and its applicability tothis case.
SOLUTION 3
Types of random sample survey, in general
There are numerous ways of getting a sample, but here are the most commonly used sampling methods:
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