Page 288 - DCOM203_DMGT204_QUANTITATIVE_TECHNIQUES_I

Unit 13: Binomial Probability Distribution

Assuming that the same production conditions continue, except that bins containing 300 Notes
were used:
(a) What would be the average number of defective components per larger bin?

(b) What would be the standard deviation of the number of defectives per larger bin?
(c) How many components must each bin hold so that the standard deviation of the
number of defective components is equal to 1% of the total number of components
in the bin?

Answers: Self Assessment

1. True 2. False
3. True 4. False

5. True 6. True
7. True 8. True
9. True 10. False
11. fitting of a distribution 12. sample
13. mean 14. parameters

15. (d) 16. (b)
17. (c)

13.7 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.
Selvaraj R, Loganathan, C Quantitative Methods in Management.
Stockton and Clark, Introduction to Business and Economic Statistics, D.B. Taraporevala
Sons and Co. Private Limited, Bombay.

Online links http://en.wikipedia.org/wiki/Binomial_distribution
http://stattrek.com/lesson2/binomial.aspx

http://www.stat.yale.edu/Courses/1997-98/101/binom.htm
http://www.investopedia.com/terms/b/binomialdistribution.asp
http://www.mathsrevision.net/alevel/pages.php?page=72

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