Note: Attempt all the questions
Q.1 A. Why Statistics regarded as ‘Science of Means’? Give Rational justification with suitable example.
B. How Business Mathematics and Statistics supply the solution for problems of business and management? Discuss any
two business applications of Business Mathematics and Statistics.
Q.2 A. In a class of 50 students, 40 speak Hindi, 20 speak both English and Hindi and all students speak at least one of the two languages. How many students speak only English and not Hindi? How many speak English.
B. A company has a cost function C(x) = 50 + 20x and demand function p = 75 – 3x. Find:
a. Revenue Function
b. Profit Function
Q.3 Solve the following system of liner equations by Gauss-Jordan Elimination Method

x + y + z = 1
x + 2y + 3z = 2
x + 4y + 9z = 4

Q.4 A. Two Cards are drawn at random from a pack of cards. Find the probability that both these cards are of black colour or both are aces.
B. One bag contains 5 white balls and 7 black balls; another bag contains 3 white balls and 5 black balls. If a bag is chosen at random and a ball is drawn from it; then, what is the chance that ball is white?
Q.5 A. Calculate the Mean, Median and Mode from the following data:

B. Calculate the Standard Deviation and Co-efficient of Variation (C.V.) for the following:

Q.6 Heights of father and sons are given in inches:

From the two lines of regression and calculate the expected average of height of son when the height of the father is
67.5 inches

Q.7 A. What is the concept of “Time Series Analysis”? How it helps Business Decisions?
B. Calculate trend values by the Method of Least Square from the data given below:

Q.8 Write short notes on:
a. “Unknown Known” in Decision Making;
b. Differentiate between Business Mathematic and Business Statistics
c. Any two limitations of statistics