‘Prince’ a chaiwala at Mumbai Central station believes that the sales of tea at his tea shop depends upon the weather

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Business Statistics
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• Business Statistics
•  
• 1. The sample data from a research survey
  conducted in various countries on the amount of
  time 3-5 year-old children spent alone with their
  fathers each day is as follows
•  
• Country Time with Dad
  (minutes)
•  
• Bangladesh
  30
• Bhutan
  46
• China
  54
• Nepal
  50
• Pakistan
  46
• Nigeria
  42
•  

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• Korea
  46
• Russia
  42
• India
  50
• For the above sample, determine the following
  measures
• a. The mean
• b. The standard deviation
• c. The mode
• d. The 75th percentile
• Based on your calculations comment on the
  father-children relationship (10 Marks)
•  

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• 2. Prince a chaiwala at Mumbai Central station
  believes that the sales of tea at his tea shop
  depends upon the weather. He has taken a sample
  of a weeks data. Below you are given the results
  of the sample. (10 Marks)
• Cups Sold
  Temperature
• 350
  50
• 200
  60
• 210
  70
• 100
  80
• 80
  90
• 70
  100
• 50
  110

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• a. Which variable is the dependent variable?
• b. Compute the least squares estimated line.
• c. Is there a significant relationship between
  the sales of coffee and temperature?
• e. Predict sales of a 95 degree day.

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• 3. According to one of the recent study published
  in an International report, the cost of medical
  malpractice in the United States is USD 55.6
  billion a year, which is approximately 2.4
  percent of US annual health-care spending. An
  earlier research report published in 2011, in the
  New England Journal of Medicine revealed that,
  during the period 1991 to 2005, 7.4 percent of
  all physicians licensed in the US had a
  malpractice claim.

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• These staggering numbers not only
  contribute to the high cost of health care, but
  the size of successful malpractice claims also
  contributes to high premiums for medical
  malpractice insurance. The table below contains a
  sample of data set of claim payments made in a
  years time and other information about the
  claimant

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• a. Using descriptive statistics explore claim
  payment amounts, and identify factors that
• appear to influence the amount of the payment. (5
  Marks)
•  
• b. Do a correlation analysis between Amount and
  Age and interpreted the coefficient
• of correlation.

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• More Details contact
• Global Study Solutions
• Dr. Aravind Banakar
• aravind.banakar_at_gmail.com
• www.mbacasestudyanswers.com
• 9901366442 - 9902787224