Here's a breakdown of how to solve the questions in the provided image, organized into

6 pages:
Page 1
Section I
Q.1 Construct a 95% confidence interval for the population mean and interpret your
answer.
● Step 1: Calculate the sample mean (x̄) and sample standard deviation (s).
● Step 2: Determine the degrees of freedom (df = n-1).
● Step 3: Find the t-value for a 95% confidence level and df.
● Step 4: Calculate the margin of error (ME) using the formula: ME = t-value * (s/√n).
● Step 5: Construct the confidence interval: x̄ ± ME.
● Interpretation: We are 95% confident that the true population mean lies within this
interval.
Q.2 Calculate population mean, standard deviation, and variation for the given data.
● Step 1: Calculate the population mean (μ) using the formula: μ = Σ(Xi * Fi) / ΣFi.
● Step 2: Calculate the population variance (σ²) using the formula: σ² = Σ(Fi * (Xi - μ)²) /
ΣFi.
● Step 3: Calculate the population standard deviation (σ) = √σ².
Q.3 Compute the coefficient of determination (r²) and coefficient of correlation (r).
● Step 1: Calculate the covariance (Cov(X,Y)) using the formula: Cov(X,Y) = Σ((Xi - μX) *
(Yi - μY)) / n.
● Step 2: Calculate the standard deviations of X (σX) and Y (σY).
● Step 3: Calculate the coefficient of correlation (r) using the formula: r = Cov(X,Y) / (σX *
σY).
● Step 4: Calculate the coefficient of determination (r²) = r².
Q.4 Explain inferential statistics and why and where it is used. Provide examples using
the given data.
● Inferential statistics: The process of drawing conclusions about a population based on a
sample.
● Examples:
○ Hypothesis testing (e.g., testing if the population mean is different from a certain
value).
○ Confidence interval estimation (e.g., estimating the range of values that the
population mean likely falls within).
Q.5 Explain the following terms:
● Parameter: A numerical characteristic of a population (e.g., population mean, population
standard deviation).
● Statistic: A numerical characteristic of a sample (e.g., sample mean, sample standard
deviation).
● Sample: A subset of a population.
● Population: The entire group of individuals or objects of interest.
● Margin of error: The maximum likely difference between a sample statistic and the
corresponding population parameter.
● Sampling error: The difference between a sample statistic and the corresponding
population parameter due to chance.
● Estimation: The process of estimating a population parameter based on a sample
statistic.
● Estimator: A statistic used to estimate a population parameter.
Page 2
Section II
Q.1 Solve the following equations:
● Step 1: Simplify the equations using algebraic techniques (e.g., squaring both sides,
combining like terms, factoring).
● Step 2: Solve the resulting equations using appropriate methods (e.g., quadratic formula,
factoring, substitution).
Q.2 Company B's total sales revenue is equal to 13x, where 'x' is the number of units
sold. Its total costs are equal to 500 + (x/20)². Let R(x) be revenue, C(x) cost, and P(x)
profit, then define P(x) = R(x) - C(x).
● Step 1: Define R(x) = 13x and C(x) = 500 + (x/20)².
● Step 2: Define P(x) = R(x) - C(x).
● Step 3: Differentiate P(x) with respect to x to find the derivative P'(x).
Q.3 The total cost for manufacturing 'x' units of a certain type of radio equipment for
aircraft is given by the function: C(x) = 50,000 + 2000x + 15x² + x³. Determine:
● Step 1: Differentiate C(x) with respect to x to find the marginal cost function C'(x).
● Step 2: Evaluate C'(x) at x = 10 to find the marginal cost of the tenth unit.
● Step 3: Find the critical points of C'(x) by setting C'(x) = 0 and solving for x.
● Step 4: Determine the nature of the critical points (maxima, minima) using the second
derivative test.
Q.4 Find the values of 'x' for which the following functions have maxima, minima, and/or
points of inflection, and then find the corresponding value of y for each problem.
● Step 1: Differentiate the given functions with respect to x to find the first derivative (f'(x)).
● Step 2: Set f'(x) = 0 and solve for x to find the critical points.
● Step 3: Differentiate f'(x) with respect to x to find the second derivative (f''(x)).
● Step 4: Evaluate f''(x) at the critical points to determine the nature of the critical points
(maxima, minima, or points of inflection).
● Step 5: Evaluate the original function at the critical points to find the corresponding values
of y.
Q.5 Find the derivatives of the following functions:
● Step 1: Apply the product rule, quotient rule, chain rule, or other differentiation techniques
as needed to find the derivatives of the given functions.
Page 3
Section I
Q.1 Construct a 95% confidence interval for the population mean and interpret your
answer.
● Step 1: Calculate the sample mean (x̄) = (8+12+6+9+4+2+5+5)/8 = 6.5.
● Step 2: Calculate the sample standard deviation (s) = 2.87.
● Step 3: Determine the degrees of freedom (df) = n-1 = 7.
● Step 4: Find the t-value for a 95% confidence level and df = 7 from the t-table, t = 2.365.
● Step 5: Calculate the margin of error (ME) = t-value * (s/√n) = 2.365 * (2.87/√8) = 2.39.
● Step 6: Construct the confidence interval: x̄ ± ME = 6.5 ± 2.39 = (4.11, 8.89).
● Interpretation: We are 95% confident that the true population mean lies between 4.11
and 8.89.
Q.2 Calculate population mean, standard deviation, and variation for the given data.
● Step 1: Calculate the population mean (μ) = Σ(Xi * Fi) / ΣFi = 10.5.
● Step 2: Calculate the population variance (σ²) = Σ(Fi * (Xi - μ)²) / ΣFi = 5.25.
● Step 3: Calculate the population standard deviation (σ) = √σ² = 2.29.
Q.3 Compute the coefficient of determination (r²) and coefficient of correlation (r).
● Step 1: Calculate the covariance (Cov(X,Y)) = Σ((Xi - μX) * (Yi - μY)) / n = 0.55.
● Step 2: Calculate the standard deviations of X (σX) = 2.87 and Y (σY) = 2.16.
● Step 3: Calculate the coefficient of correlation (r) = Cov(X,Y) / (σX * σY) = 0.09.
● Step 4: Calculate the coefficient of determination (r²) = r² = 0.01.
Q.4 Explain inferential statistics and why and where it is used. Provide examples using
the given data.
● Inferential statistics: The process of drawing conclusions about a population based on a
sample.
● Examples:
○ Hypothesis testing (e.g., testing if the population mean is different from a certain
value).
○ Confidence interval estimation (e.g., estimating the range of values that the
population mean likely falls within).
Q.5 Explain the following terms:
● Parameter: A numerical characteristic of a population (e.g., population mean, population
standard deviation).
● Statistic: A numerical characteristic of a sample (e.g., sample mean, sample standard
deviation).
● Sample: A subset of a population.
● Population: The entire group