MMPC-005 Solved Assignments 2024-25

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MMPC-005 Solved Assignments 2024-25 Available

1. Describe briefly the questionnaire method of collecting primary data. State the essentials of a good questionnaire.
2. Discuss the importance of measuring variability for managerial decision-making.
3. An investment consultant predicts that the odds against the price of a certain stock will go up during the next week are 2:1 and the odds in favour of the price remaining the same are 1:3. What is the probability that the price of the stock will go down during the next
week?
4. In practice, we find situations where it is not possible to make any probability assessment. What criterion can be used in decision-making situations where the probabilities of outcomes are unknown?
5. A purchase manager knows that the hardness of castings from any supplier is normally distributed with a mean of 20.25 and SD of 2.5. He picks up 100 samples of castings from any supplier who claims that his castings have heavier hardness and finds the mean hardness as 20.50. Test whether the claim of the supplier is tenable.