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IGNOU MMPC-05 (July 2025 – January 2026) Assignment Questions
1. What is Statistical Decision Theory? Describe the four different states of decision environment in managerial applications. Which is the most prevalent state?
2. A certain manufacturing process yields electrical fuses of which, in the long run, 15% are defective. Find the probability that in a sample of 10 fuses selected at random there will be:
a) No defective
b) At least one defective
3. A manager at a drug manufacturing wants to estimate what proportion of the adult population of India has high blood pressure. He wants to be 99% sure that the error of his estimate will not exceed 0.02. Census reports indicate that about 0.20 of all adults have high blood pressure. What sample size shall he take?
4. For a set of 1000 observations known to be normally distributed, the mean is 534 cm and SD is 13.5 cm. How many observations are likely to exceed 561 cm? How many will be between 520.5 and 547.5 cm?
5. Write short notes on any three of the following:
a) Level of significance
b) Quartile Deviation
c) Criterion of optimism
d) Disproportional Stratified Sampling
e) Least Square Criterion
IGNOU MMPC-05 (July 2024 – January 2025) Assignment Questions
1. Describe briefly the questionnaire method of collecting primary data. State the essentials of a good questionnaire.
2. Discuss the importance of measuring variability for managerial decision-making.
3. An investment consultant predicts that the odds against the price of a certain stock will go up during the next week are 2:1 and the odds in favour of the price remaining the same are 1:3. What is the probability that the price of the stock will go down during the next week?
4. In practice, we find situations where it is not possible to make any probability assessment. What criterion can be used in decision-making situations where the probabilities of outcomes are unknown?
5. A purchase manager knows that the hardness of castings from any supplier is normally distributed with a mean of 20.25 and SD of 2.5. He picks up 100 samples of castings from any supplier who claims that his castings have heavier hardness and finds the mean hardness as 20.50. Test whether the claim of the supplier is tenable.
