NMIMS Solved Assignment Quantitative Methods-I April 2025

NMIMS Unique Solved Assignment Quantitative Methods-I April 2025.

NMIMS Centre for Distance and Online Education (NCDOE)
Course: Quantitative Methods – I
Internal Assignment Applicable for April 2025 Examination
Assignment Marks: 20
Instructions
PLEASE NOTE: This assignment is application based, you have to apply what you have
learnt in this subject into real life scenario. You will find most of the information through
internet search and the remaining from your common sense. None of the answers appear
directly in the textbook chapters but are based on the content in the chapter.

● All Questions carry equal marks
● All Questions are compulsory
● All answers to be explained in not more than 1000 words for question Q1 and for question Q2(A)
and Q2(B) 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
For Theoretical Answer
Assessment Parameter Weightage
Introduction 20%
Concepts and Application
related to the question
60%
Conclusion 20%

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Q1. Explain the following concepts
– Difference between point estimate and interval estimate. (2 Marks)
– Concept of confidence interval for any estimate (Mean / Proportion). (2 Marks)
And solve the following question
A sample of 30 students’ test scores is randomly selected from a large class. The sample has a
mean score of 85 points and a standard deviation of 6 points. Calculate the 99% and 95%
confidence intervals for the population mean. (6 Marks)
(10 Marks)
Q2 (A) The monthly rent paid by a group of 15,000 tenants in a city is found to be normally
distributed with a mean of 12,000 and a standard deviation of 1,500. Answer the following
questions:
a) What is the probability that a tenant selected at random pays more than 10,500 in rent?
b) What is the probability that a tenant selected at random pays more than 14,700 in rent ?
(5 Marks)
Q2 (B) A pharmaceutical company claims that its new drug reduces the average recovery time from
the flu to less than 7 days. Historically, the average recovery time for the flu without the drug
is 7 days. To test this claim, the company conducted a study with 50 patients who took the
new drug. The sample mean recovery time was 6.5 days with a population standard deviation
of 2 days. Can we accept the company’s claim at the 5% level of significance?
(5 Marks)