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NMIMS BUSINESS STATISTICS SEPTEMBER 2019 ASSIGNMENT

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Business Statistics

NMIMS BUSINESS STATISTICS SEPTEMBER 2019 ASSIGNMENT
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MBA SOLVED ASSIGNMENTS
NMIMS READYMADE SOLVED MBA JUNE 2019 ASSIGNMENTS

1. What is sampling distribution? An automobile manufacturer claims that a particular model
gets 28 KM per liter of petrol, but the Environmental Protection Agency, using a sample of
50 automobiles of this model, finds the sample mean to be 26.8 km/ltr. From previous
studies, the population standard deviation is known to be 5 km/ltr. Could we reasonably
expect (within 2 standard errors) that we could select such a sample if indeed the population
mean is 28 km/ltr? Justify. (10 Marks)

2. Raj studios a Tollywood casting company, is selecting a group of extras for a movie. The
ages of the first 30 men to be interviewed are.

50 56 55
54 55 61
49 52 57

60 51 59
56 57 56
62 52 54
55 49 52
61 60 51
57 56 59
52 54 49

The director of the movie wants men whose ages are grouped around 50 years. The director
suggests that a standard deviation of 3 years would be acceptable. Does this group of extras
qualify to the director’s requirement?

3. Historically, diesel has mostly been cheaper than petrol in South Africa, though this has
not always been the case, and not a trend seen around the world. One of the key differences in
the pricing of diesel versus petrol, is that diesel prices reflect wholesale prices, not the price
you would pay at the pumps. For example, the wholesale inland diesel price for August was
at R10.96 at the beginning of the month, while Caltex’s retail version – Caltex 50 diesel with
Techron – sells at R11.33 per litre. Over the past decade, both the petrol and diesel prices
have seen some significant fluctuations, but petrol (95 grade) has seen the biggest overall
increase, having jumped 75.4% since 2006.
The graph and table below show how the prices have changed year-on-year, between August
2006 and August 2016.

Year Petrol-Unleaded

93

Petrol-Unleaded
95

Diesel 0.05%

2006 R6.92 R7.04 R6.54
2007 R6.88 R7.01 R6.51
2008 R10.20 R10.40 R11.27
2009 R7.52 R7.69 R6.65
2010 R8.02 R8.17 R7.38
2011 R9.91 R10.09 R9.30
2012 R10.83 R11.04 R10.25
2013 R13.32 R13.55 R12.48
2014 R14.08 R14.33 R12.84

2015 R13.01 R13.26 R10.94
2016 R12.08 R12.35 R10.96

Source: Department of Energy; Inland prices, August

The fuel price is affected by two major components: the global oil price, and the currency
exchange rate between the rand and the dollar. Between 2014 and 2016, fuel prices (both
diesel and petrol) have shown a year-on-year decline, boosted by a much lower global oil
price, which has dropped below $50 a barrel, with little hope that it will balloon past that
level in the near future. However, much of the benefit delivered by lower oil prices has been
undone by weakness in the rand – brought about by a struggling economy, poor growth
policies and a number of political scandals involving president Jacob Zuma.
(Source: https://businesstech.co.za/news/energy/134400/petrol-vs-diesel-prices-in-south-
africa-2006-2016/)
a. Explore the trend in the petrol price (for both unleaded 93 and unleaded 95) using
regression trend analysis. Using the data, forecast the petrol price for 2017, 2018 and 2019. (5
Marks)

b. Explore the trend in the diesel price using regression trend analysis. Using the data,
forecast the diesel price for 2017, 2018 and 2019. Out of the three regression models, which
model is the strongest in predicting the fuel price? (5 Marks)

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SEPTEMBER 2019 call us at 8510092683 or

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