IGNOU MMPC-005 June 2025 Previous Year Question Paper

Q1.Explain the concept of random variable and probability distribution. Elucidate the usefulness of probability distribution in decision-making. [ 2 ]

Q2.Consider the following grouped data which relate to the profits of 100 companies : Profit (in ` lakhs) No. of Companies 20–30 4 30–40 8 40–50 18 50–60 30 60–70 15 70–80 10 80–90 8 90–100 7 Calculate Q 2 and D 6 and interpret these values. [ 3 ]

Q3.Give various reasons which make sampling a desirable, and in many cases, the only course open for making an inference about a population.

Q4.If the probability is 0.30 that a Management Accountant’s job applicant has a post - graduate degree, 0.70 that he ha d some work experience as a chief financial accountant and 0.20 that he has both. Out of 300 applicants approximatel y, what number would have either a post -graduate degree or some professional work experience ?

Q5.What procedure do you follow while testin g for difference between proportions ? State the null and alternative hypotheses. What is the use of the pooled estimate of p ? [ 4 ]

Q6.A compa ny that manufactures batteries g uarantees them a life of 24 months :

(i) If the average life has been found in tests to be 33 months and a S .D. of 4 months, how many will have to be replaced under guarantee if a normal distribution is assumed for battery lifetimes ?

(ii) If annual sales are 10,000 batteries at a profit of ` 50 each and each replacement costs the co mpany ` 100, find the net profit. (Given Z value corresponding to area between X = 24 and X = 33 is 0.4878.) [ 5 ]

Q7.Write short notes on any three of the following :

(a) Discrete and Continuous data

(b) Relative skewness

(c) Cluster vs. Stratum

(d) Type 1 and Type II errors

(e) Least square criterion