MS-08 FREE SOLVED ASSIGMENT Quantitative Analysis
for Managerial SEE BELOW Summary
1. A small accounting firm pays each of its five clerks Rs 25000, two junior accountants
Rs
60000, and the firm’s owner Rs 255000. What is the mean salary paid at this firm? How
many of the employees earn less than the mean? What is the median salary?
Answer
mean= (25000*5+60000*2+255000)/8=62500
the employees earn less than the mean=7
median=8/2=4th position mean's 25000
2. Nonstandard dice can produce interesting distributions of outcomes. You have two
balanced,
six-sided dice. One is a standard dice, with faces having 1,2,3,4,5 and 6 spots. The other
die
has three faces with 0 spots and three faces with 6 spots. Find the probability distribution
for the total number of spots Y on the up-faces when you roll these two dice.
Answer
One die will have a 1/6 chance of rolling a 1, 2, 3, 4, 5 or 6.
The other die will have a 1/2 chance of rolling a 0 and 1/2
chance of rolling a 6.
This divides the total into two groups of total spots.
1: Die two has no spots, so the total is 1, 2, 3, 4, 5, or 6.
2: Die two has six spots, so the total is 7, 8, 9, 10, 11, or 12.