Quantitative Techniques

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                                                             ASSIGNMENT

Quantitative Techniques

Guidelines

Practical examples and explanation with graphical representation will carry more weight age.There is no length as such described to answer the questions. The external sources can be used and you can also insert images to make the assignments presentable.Original thought and execution will be duly rewarded and plagiarism in any form will be viewed very seriously.Formatting should be proper with font – Cambria, heading size - 14 andbody size – 12, Line spacing 1.5 lines and font colour black.

Question.1. (a)Find the probability of drawing a diamond card in each of the consecutive draws from a well shuffled pack of cards,if the card drawn is not replaced after the first draw.

Answer:1st card diamond: 13/52

2nd card diamond: 12/51

(13/52)(12/51) = 0.0588

Another way to do it:

Ans: 13C2/52C2 = 0.0588

There are 52 cards total.

13 of them are diamonds.

First draw:

(b) A bag contain 5 white , 7 red and 8 black balls. If four balls are drawn one by one without replacement, find the probability of getting all white balls.

Answer: There are [math]20[/math] balls total.

On the first draw,  [math]P(\text{white}) = \dfrac{5}{20}[/math].

On the second draw,  [math]P(\text{white}) = \dfrac{4}{19}[/math].

On the third draw,  [math]P(\text{white}) = \dfrac{3}{18}[/math].

On the fourth draw,  [math]P(\text{white})

Question.2. a)Explain the types of Regression Models.

Answer: A regression analysis generates an equation to describe the statistical relationship between one or more predictors and the response variable and to predict new observations. Linear regression usually uses the ordinary least squares estimation method which derives the equation by minimizing the sum of the squared residuals.

Question.3. Explain the different types of Sampling Methods.

Answer:The process which involves the selection of the sample but does not involve its composition is called as the sampling method. There are different methods for carrying out the sampling process and these methods can be categorized as follows –

a. Probability Sampling – Studying different

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