Decision Science NMIMS Assignment Solution June 2024

Description

NMIMS Global Access
School for Continuing Education (NGA-SCE)
Course: Decision Science
Internal Assignment Applicable for April 2024 Examination:
Assignment Marks: 30
Instructions:
 All Questions carry equal marks.
 All Questions are compulsory
 All answers to be explained in not more than 1000 words for question 1 and 2 and for question 3 in not more than 500 words for each subsection. Use relevant examples, illustrations as far as possible.
 All answers to be written individually. Discussion and group work is not advisable.
 Students are free to refer to any books/reference material/website/internet for attempting their assignments, but are not allowed to copy the matter as it is from the source of reference.
 Students should write the assignment in their own words. Copying of assignments from other students is not allowed.
 Students should follow the following parameter for answering the assignment questions.
Q1. Calculate the probability for the following statements. Draw the Probability tree diagram also.
In a medical college of Pune (a class of 100 people), 30 % people Like to have Misal-pav on the farewell party as per the google form survey. Remaining people have chosen vadapav. Out of those who have chosen Misal-pav 50 % said that they would eat only Jain Misal pav. Well,
30 % of those have chosen Vadapav, also said they would have Jain Vadapav only.
 What is the stack (percent & number) of people Who will have Jain Food (including MISal pav and Vadapav).
 What is the probability of selecting a person who would eat Misal pav given that person’s diet type is Jain. (10 Marks).
Note: Handmade drawing of Diagram is prohibited; prepare it with the help of software like MS-Word.
Q2. Write the interpretation for the following regression model. You are advised to run the analysis using MS EXCEL.
Here Hiranmayee Dhar, an entrepreneur who is running “Pashminaa” a store of Pashmina shawls. She is targeting customers via social media applications; she has chosen Instagram as a platform and had also chosen REELs to advertise her products. She is looking for a forecasting model to understand the impact of no of likes of the REELs demonstrating product and its sales (in number of units). (10 Marks)
Reel Number
Number of units sold
Number of likes
Reel 1
24
1503
Reel 2
24
1564
Reel 3
24
1649
Reel 4
24
1882
Reel 5
26
1924
Reel 6
28
1937
Reel 7
28
1944
Reel 8
29
2086
Reel 9
30
2150
Reel 10
31
2215
Reel 11
32
2366
Reel 12
32
2472
Reel 13
35
2622
Reel 14
35
2792
Reel 15
36
2871
Reel 16
36
2973
Reel 17
38
3000
Reel 18
38
3024
Reel 19
39
3319
Reel 20
40
3336
Reel 21
41
3337
Reel 22
41
3413
Reel 23
41
3479
Reel 24
42
3577
Reel 25
46
3617
Reel 26
46
3922
Reel 27
46
4332
Reel 28
48
4562
Reel 29
48
4577
Reel 30
48
4763
Reel 31
49
4964

 Write the regression model.

 Discuss the R-square, Multiple R

 Discuss the ANOVA

 Discuss the Significance of Independent variable and B1 value.
Q3.a) Draw an appropriate chart for the following. Also write your clarification for choosing that graph. For each variable identify a time-series component present if you consider the long-term pattern. (5 Marks)
Table: Production of Commercial crops. (Source: RBI) Year Groundnut (Lakh Tonnes) Rapeseed & Mustard (Lakh Tonnes) Soyabean (Lakh Tonnes) 2000-01 64 42 53 2001-02 70 51 60 2002-03 41 39 47 2003-04 81 63 78 2004-05 68 76 69 2005-06 80 81 83 2006-07 49 74 89 2007-08 92 58 110 2008-09 72 72 99 2009-10 54 66 100 2010-11 83 82 127 2011-12 70 66 122 2012-13 47 80 147 2013-14 97 79 119 2014-15 74 63 104 2015-16 67 68 86 2016-17 75 79 132 2017-18 93 84 109 2018-19 67 93 133
2019-20 100 91 112 2020-21 102 102 126 2021-22 101 118 130
Note: Here you are advised to use Software like EXCEL for making Graphs, copy them and paste in your assignment file. Snapshots are not allowed.
Q3.b) Write the sampling plan for the following study. Also write, what is recommended according to you, census survey or sample Survey?
Imagine yourself doing PhD in NMIMS, for one of your research papers you do require a primary survey to understand the social media consumption of LinkedIn users. Your goal is to understand why they are using LinkedIn, for how many hours a day, and their activities they do on the same platform. You do have research questionnaire in your hand as per your proper literature study. Now, the question is about survey and data collection. (5 Marks)
**********