Decision Science - NMIMS
Decision Science - NMIMS
It is based on the existing scenario, the series of these events, i.e., The Indian Premier
League's
final season, features their preferred group, Garuda. According to experienced, i.e., Raj Kaul,
Garuda's possibility to win is 60% based on his analysis of the current circumstance. When
groups
win 70% of the time, they win the series opener in the championship, Records from the
previous
program. After losing 25% of the time in the series, they take the opening game. The opening
suit
is finished, and their team is lost or defeated. Therefore, the probability that it will win their
series
i.e.
W: A circumstance or event whereby team Garuda wins the series
L: A circumstance that the team Garuda loses the series
F: A circumstance that the team Garuda wins the first game
F’: A circumstance that the team Garuda loses the first game
From the given data:
P (W) = 0.6, it tracks that p (L) = 1-0.6 = 0.4
P (F/W) = 0.70, it tracks that p (F’/W) = 1-0.70 = 0.3
P (F/L) =0.25, it tracks that p (F’/L) = 1- 0.25 = 0.75
GARUDA
0.6 0.4
Win the first game Lost the first game win the first game Lost the first
game
A tree diagram can represent a probability space in analytical inference. These images could
represent a collection of different events. The sequence of steps that must be taken to solve
the problem is shown in a tree diagram. A tree diagram starts with a lone node, and as each
node's connections turn into new branches, a tree architecture is created. It indicates the
possibility that an event will occur without requiring elaborate calculations (Blitzstein &
Hwang, (2015). It reveals all the consequences that the event could have. A probability tree
aims to enumerate all possible effects of an event and calculate the probability of each of
them. Because they capture all possible outcomes, are helpful in randomness. In options and
data, a tree graph calculates the number of alternatives for an event when they are given up in
an orderly manner. The path of each branch in the tree diagram corresponds to a possible
course of the event. It is a simple technique for showing the progression of events and
captures each possible outcome (Choi, (2021).
With the help of the tree diagram used in the case study, Garuda can start in a solitary place,
take a trip along parts of the tree, experience collectively limiting events, or make mutually
inconsistent judgments. The concept behind this diagram is that Garuda has the alternative of
winning or losing the collection and is considered the starting node. It provides strategic
action by combining chances, options, prices and incentives to make decisions. A single
entity serves as the initial factor of the diagram, from which branches out to other nodes that
represent equally exclusive possibilities or events. Still, in the 2nd node, various other
choices or alternatives want to happen until the method gets ahead.
The decision of the probability tree is as follows:
The Required probability is p (W/F) P (W/F’) = p (W F’) / P (F’) Ո 0.18 / 0.18 +0.3 0.180 /
48
=0.375
Ans 2.
Calculations of Regression Analysis:
X Y X*Y X*X Y*Y
5 5 25 25 25
5 5 25 25 25
4 5 20 16 25
4 5 20 16 25
5 5 25 25 25
5 5 25 25 25
3 5 15 9 25
5 5 25 25 25
4 4 16 16 16
4 4 16 16 16
4 4 16 16 16
4 4 16 16 16
3 4 12 9 16
3 4 12 9 16
4 4 16 16 16
2 4 8 4 16
3 3 9 9 9
3 3 9 9 9
3 3 9 9 9
2 3 6 4 9
2 2 4 4 4
2 2 4 4 4
1 1 1 1 1
1 1 1 1 1
1 1 1 1 1
3 1 3 9 1
1 1 1 1 1
SUM = 86 SUM = 93 SUM = 340 SUM = 320 SUM = 377
0 1 2 3 4 5 6
By using excel
Relative frequency = F1/total frequency ex.
Relative frequency = F1/total frequency
= 2915/6651 = 0.438279958
When compared to the total number of observations, the frequency of
occurrence of a specific event category is referred to as its relative regularity. It is a
frequency that entails using proportions, fractions, and percentages.
Calculations based upon relative frequency entail separating the total number of observations
by the count of a particular category of incidents to reach a percentage representation of the
count. Complying with constitutes its method:
From the above chart it is seen that west Tripura of has maximum numbers MSME's
Answer 3 B.
Based on the given data, it analyses the Relative Frequency is the series of outcomes
created by detailed data that figure out the relative frequency. Each time they carry out the
study, they can transform this periodicity. The determined relative frequency of an
occasion will approach the predicted possibility of occurring in the different experiments
they run. It is revealed that the WEST TRIPURA and the NORTH TRIPURA in Andhra
Pradesh are two districts that show higher value in Relative Frequency (McManus, (2015
). Therefore, they assess the top 2 districts based on relative frequency as West Tripura
and North Tripura has the highest relative frequency, i.e., 0.43 and 0.12.
3000
2500
2000
1500
West Tripura North Tripura
ANDHRA SPSR NELLORE 54059
PRADESH
ANDHRA Y.S.R 37500
PRADESH
ANDHRA KURNOOL 15362
PRADESH
ANDHRA ANANTHAPUR 21193
PRADESH
ANDHRA CHITOOR 27670
PRADESH
The median is the statistic that appears in the middle of a team of data points. The median
is the value that hinges on the middle of the distribution. The facts should first be
categorized from ideal to worst or as least to most significant to get the median. A
population's upper and lower fifty percent, a circulation function, or an option of data are
represented by the top and reduced fifty percent of the median—the median changes for
different populations. Fifty percent of the statistics are more often, and half are
dramatically reduced. The median permits the expression of several information factors
using a solitary one. The median is the most straightforward analytical step to compute.
Here is the method for determining the median of a data set with a limited amount of
observations. When there are also weird varieties of observations, the median formula is
various. As a result, it is vital to determine if a particular data collection has an odd variety
ofitems or an even number of values.