Page 133 - DCOM203_DMGT204_QUANTITATIVE_TECHNIQUES_I

Quantitative Techniques – I

Notes 23. The annual rates of growth of output of a factory in five years are 5.0, 6.5, 4.5, 8.5 and 7.5
percent respectively. What is the compound rate of growth of output per annum for the
period?
24. Premier Automobiles Ltd. does statistical analysis for an automobile racing team. Here
are the fuel consumption figures in Kilometer per litre for the team’s cars in the recent
races.
4.77 6.11 6.11 5.05 5.99 4.91 5.27 6.01
5.75 4.89 6.05 5.22 6.02 5.24 6.11 5.02

(a) Calculate the median fuel consumption.
(b) Calculate the mean fuel consumption.
(c) Group the given data into equally sized classes. What is the fuel consumption value
of the modal classes.
(d) Which of the three measures of central tendency is best for Allison to use when she
orders fuel? Explain.

Answers: Self Assessment

1. Summarization 2. tables, frequency distributions

3. measure of central tendency 4. average
5. congregate 6. averages
7. Mathematical 8. False

9. False 10. False
11. False 12. False
13. (b) 14. (a)
15. (c) 16. True
17. True 18. True

19. True 20. True
21. True 22. Mode
23. most typical value 24. three times

25. True 26. True
27. zero 28. AM > GM > HM.

6.9 Further Readings

Books Balwani Nitin Quantitative Techniques, First Edition: 2002. Excel Books, New Delhi.
Bhardwaj R.S., Business Statistics, Excel Books.
Garrett H.E. (1956), Elementary Statistics, Longmans, Green & Co., New York.

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