NMIMS Project synopsis April-May 2023 – Apply weighted aggregative index method using three different formulas for constructing Price Indices.
NMIMS Project synopsis April-May 2023 – Apply weighted aggregative index method using three different formulas for constructing Price Indices.
Business Statistics for Decision Making
-
Apply weighted aggregative index method using three different formulas for constructing Price Indices. (10 Marks)
TABLE BELOW
Item |
Year (2000) |
Year (2010) |
||
Household Items |
Price |
Quantity |
Price |
Quantity |
(Po) |
(Qo) |
(P1) |
(Q1) |
|
Wheat Flor |
60 |
5 |
70 |
7 |
Basmati Rice |
110 |
5 |
130 |
7 |
Dal |
120 |
4 |
145 |
5 |
Vegetables |
200 |
10 |
300 |
12 |
Milk |
50 |
6 |
60 |
8 |
Note: Do not use any software for calculations, write formulas and show calculations.
-
Calculate the Four Quartiles and rewrite the entire list of observations w.r.t their
quartile memberships. (10 Marks)
State Name |
District Name |
Total Micro, small and medium Enterprises |
PUNJAB |
AMRITSAR |
13148 |
PUNJAB |
BARNALA |
3800 |
PUNJAB |
BATHINDA |
10679 |
PUNJAB |
FARIDKOT |
4823 |
PUNJAB |
FATEHGARH SAHIB |
4196 |
PUNJAB |
FAZILKA |
4398 |
PUNJAB |
FIROZEPUR |
4622 |
PUNJAB |
GURDASPUR |
4828 |
PUNJAB |
HOSHIARPUR |
7831 |
PUNJAB |
JALANDHAR |
27748 |
PUNJAB |
KAPURTHALA |
8048 |
PUNJAB |
LUDHIANA |
65276 |
PUNJAB |
MANSA |
4431 |
PUNJAB |
MOGA |
7825 |
PUNJAB |
PATHANKOT |
1463 |
PUNJAB |
PATIALA |
15257 |
PUNJAB |
RUPNAGAR |
2941 |
PUNJAB |
SANGRUR |
10000 |
PUNJAB |
SAS NAGAR |
19934 |
PUNJAB |
SHAHID BHAGAT SINGH NAGAR |
4928 |
PUNJAB |
SRI MUKTSAR SAHIB |
3635 |
PUNJAB |
TARN TARAN |
3457 |
Data Source: Data.gov.in
Note: Calculate manually.
-
a. Identify and write the measurement type of the following Columns only (starting from ‘Location of Respondents’ onwards). (5 Marks)
Respondent Number |
Location of Respondents |
Gender |
Age Preference/ ranking for the RADO (1 = least preferred. … 5 = most preferred) |
Preference/ ranking for the Titan (1 = least preferred… 5 = most preferred) |
|
1 |
Ahmedabad |
Male |
49 |
2 |
2 |
2 |
Ahmedabad |
Female |
44 |
1 |
4 |
3 |
Surat |
Male |
27 |
3 |
1 |
4 |
Surat |
Male |
30 |
2 |
2 |
5 |
Surat |
Female |
32 |
3 |
2 |
6 |
Mumbai |
Male |
27 |
3 |
4 |
7 |
Mumbai |
Male |
42 |
3 |
2 |
8 |
Mumbai |
Female |
20 |
5 |
5 |
9 |
Mumbai |
Female |
37 |
4 |
3 |
10 |
Delhi |
Female |
40 |
5 |
3 |
11 |
Delhi |
Female |
23 |
4 |
5 |
3.b. Draw the Appropriate Graph for the following data. (5 Marks)
Reasons for Migration in Males |
Number of Male Migrants who are migrated from one state to another |
Relative Frequency |
Work/employment |
1,12,58,416 |
0.471659 |
Business |
7,15,245 |
0.029964 |
Education |
5,05,884 |
0.021193 |
Marriage |
4,37,446 |
0.018326 |
Moved after birth |
14,75,615 |
0.061819 |
Moved with household |
52,18,545 |
0.218625 |
Others |
42,58,661 |
0.178412 |
Sum |
2,38,69,812 |
Data Source: Census of India 2011
Note: You may use Software for preparation of Graph.
NMIMS Project synopsis April-May 2023 – Apply weighted aggregative index method using three different formulas for constructing Price Indices.
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