The average test marks in a particular class is 79.
The average test marks in a particular class is 79. The standard deviation is 5. Marks are normally distributed. We have to find how many students, in a class of 200, did not receive marks between 75 and 82.
Given: Mean (μ) = 79 Standard deviation (σ) = 5 Class size = 200 Given probabilities (for standard normal variable Z): P(0 ≤ Z ≤ 0.7) = 0.2580 P(0 ≤ Z ≤ 0.8) = 0.2880 P(0 ≤ Z ≤ 0.6) = 0.2257
Step 1: Convert the raw scores to Z-scores.
For X = 75: Z1 = (75 − 79) / 5 Z1 = −4 / 5 Z1 = −0.8
For X = 82: Z2 = (82 − 79) / 5 Z2 = 3 / 5 Z2 = 0.6
So, we want the probability that marks are not between 75 and 82, i.e. P(X < 75 or X > 82). First we will find P(75 ≤ X ≤ 82), then subtract from 1.
Step 2: Find P(75 ≤ X ≤ 79) and P(79 ≤ X ≤ 82).
Because the normal distribution is symmetric about the mean:
P(75 ≤ X ≤ 79) = P(−0.8 ≤ Z ≤ 0) = P(0 ≤ Z ≤ 0.8) From the given values: P(0 ≤ Z ≤ 0.8) = 0.2880
P(79 ≤ X ≤ 82) = P(0 ≤ Z ≤ 0.6) From the given values: P(0 ≤ Z ≤ 0.6) = 0.2257
Step 3: Probability of marks lying between 75 and 82.
P(75 ≤ X ≤ 82) = P(75 ≤ X ≤ 79) + P(79 ≤ X ≤ 82) P(75 ≤ X ≤ 82) = 0.2880 + 0.2257 P(75 ≤ X ≤ 82) = 0.5137
Step 4: Probability of marks lying outside 75 and 82.
P(X < 75 or X > 82) = 1 − P(75 ≤ X ≤ 82) P(X < 75 or X > 82) = 1 − 0.5137 P(X < 75 or X > 82) = 0.4863
Step 5: Convert probability into number of students.
Number of students not getting marks between 75 and 82 = 0.4863 × 200 = 97.26 ≈ 97 students
Final Answer: Approximately 97 students in the class of 200 did not receive marks between 75 and 82.
The average test marks in a particular class is 79.
👉 Important questions of Statistical Analysis for Business
What are the advantages and disadvantages of gateway?
What do you mean by payment gateways? Explain its advantages and disadvantages.
What is a Payment Gateway?
A payment gateway is a technology that facilitates online transactions by acting as a bridge between a merchant’s website and the payment processor. It securely transfers payment information from the customer to the acquiring bank and ensures the transaction is authorized and completed safely.
Popular examples include PayPal, Stripe, Razorpay, Square, and PayU.
Advantages of Payment Gateways
A payment gateway is a technology that facilitates online transactions by securely transferring payment data between customers, merchants, and financial institutions. Businesses and consumers benefit from using payment gateways in multiple ways.
1. Security and Fraud Protection
Uses encryption and tokenization to protect sensitive payment data.
Complies with PCI-DSS (Payment Card Industry Data Security Standard) to ensure secure transactions.
Includes fraud detection tools like OTP (One-Time Passwords), CVV verification, and AI-based fraud analysis.
Payment gateways are essential for businesses looking to expand their digital presence and provide secure, efficient, and user-friendly payment solutions. By leveraging the benefits of a payment gateway, businesses can enhance customer trust, streamline operations, and increase sales. What are the advantages and disadvantages of gateway?
Disadvantages of Payment Gateways
While payment gateways offer numerous benefits, they also come with certain challenges and limitations. Here are some key disadvantages:
1. Transaction Fees and Costs
Most payment gateways charge transaction fees (ranging from 1% to 3% per transaction), which can add up over time.
Additional charges may include setup fees, monthly maintenance fees, and chargeback fees.
For small businesses, these costs can reduce profit margins.
2. Security and Fraud Risks
Despite advanced security measures, cyberattacks, phishing, and data breaches can still occur.
Chargeback fraud, where customers dispute legitimate transactions, can lead to financial losses.
Businesses need to constantly monitor transactions to detect fraudulent activities. What are the advantages and disadvantages of gateway?
3. Technical Issues and Downtime
Server downtimes or connectivity issues can disrupt transactions, leading to lost sales.
Payment gateways rely on third-party systems, meaning businesses have limited control over outages.
Slow processing speeds during peak hours may frustrate customers.
4. Integration Challenges
Some gateways require complex integration with e-commerce platforms, which may need technical expertise. What are the advantages and disadvantages of gateway?
Compatibility issues can arise with older websites or in-house billing systems.
API updates or changes in security protocols may require frequent modifications.
5. Limited Payment Support in Some Regions
Certain payment gateways may not support all currencies or international transactions.
Some platforms restrict high-risk businesses (e.g., gambling, adult content, or cryptocurrency businesses).
Cross-border fees may be high, making international sales expensive.
6. Customer Experience Issues
Some payment gateways redirect customers to an external site, causing trust issues and cart abandonment.
Payment failures due to OTP issues, bank downtimes, or incorrect data entry can frustrate users. What are the advantages and disadvantages of gateway?
Refunds and dispute resolutions can be slow and complex.
7. Compliance and Regulatory Requirements
Businesses must adhere to PCI-DSS compliance and KYC (Know Your Customer) regulations, which can be time-consuming.
Payment gateways must comply with local government regulations, and failure to do so can lead to legal issues.
Policy changes (e.g., RBI’s recurring payment guidelines in India) can impact business operations. What are the advantages and disadvantages of gateway?
Conclusion
Despite these drawbacks, payment gateways remain essential for online businesses. To minimize risks, businesses should choose a reliable provider, ensure compliance, and implement strong security measures. Understanding the limitations helps businesses make informed decisions when selecting a payment gateway. You can final the syllabus of E-Commerce for Mcom-lV on the official website of Gndu. What are the advantages and disadvantages of gateway?
What is the cardinal utility analysis? Critical Examine a law of diminishing Marginal Utility.
Meaning of Cardinal utility
Meaning of cardinal utility :- Cardinal utility refers to cardinal numbers like 1, 2, 3, 4 etc. Cardinal utility are those numbers which can be added or subtracted.
In other words:- When we consume anything its utility measures in numbers like counting as 1,2,3,4,5, etc. Which can be increased and decreased in total utility. Law of marginal utility
Definition of utility:- Want Satisfying power of a good is called utility. It denotes a quality in a commodity or service by virtue of which our wants are satisfied.
According to Hibbdon, “Utility is the quality of a good that satisfies a want”.
Meaning of Marginal Utility
Meaning of Marginal Utility:- The change that takes place in the total utility by the consumption of an additional unit of a commodity is called marginal utility.
For Example:- By consumption of the first cup of tea you get 15 units of utility and by the consumption of the second cup of tea your total utility goes up to 25 units. It means, the consumption of a second cup of tea has added 10 units = 25-15 of utility to the total utility. So here the difference of 10 units of utility of consumption is called marginal utility. Law of marginal utility
Definition of Marginal Utility:- “Marginal utility is the addition made to the total utility in consumption by consuming one more unit of commodity and that difference lies in the previous and successive unit of a consumption.” is called marginal utility. Law of marginal utility
Marginal utility can be measured with the help of the following equation.
MUnth= TUn – TUn–1
Law of diminishing marginal Utility
Meaning of law of diminishing marginal Utility:- When you Consume the same thing again and again at any given time, then the number of such goods with you goes on increasing. The marginal utility from each successive thing will go on decreasing. It is the reality of our life. Which is described in economics as the law of Diminishing Marginal Utility.
Definition of law of Diminishing marginal utility :- “As the amount of any thing that a person consume increases more and more, the satisfaction of that successive object will decrease due to the consumption increases of a commodity, so it decreases the satisfaction of the consumer”. Law of marginal utility
In other words:- When a consumer consumes more and more units of a commodity, in a given time, the Utility derived from each successive unit goes on diminishing.
So consumers will buy a product at that point where the marginal utility of the commodity is equal to price paid for it. Law of marginal utility
Price = Marginal Utility
Law of diminishing marginal utility can be understood by considering the following table.
Law of Diminishing Marginal Utility
No. of Cup of tea
Total Utility
Marginal Utility
Zero
First
Second
Third
Fourth
Fifth
Sixth
0
4
7
9
10
10
9
0
4
3
2
1
0
–1
Table Shows that
The First cup of tea yields 4 units of marginal utility. This will satisfy your want to some extent.
The second cup of Tea yields still less marginal utility than the first one as is 3 units.
Third cup of tea yields still less marginal utility as 2 units, and
Fourth cup of tea is just 1 unit of marginal utility. Atthis point, want may be fully satisfied.
Thus, the Fifth cup of tea yields zero marginal utility.
If you take the sixth cup of tea it may upset your system. In other words you may get negative utility say, –1 unit.
It is evident from the Above Table that as more and more units of cup of tea are consumed, Thus Marginal utility from each Successive unit goes on diminishing.
From the above Figure we can understand units of Quantity are shown on the ox-axis and MarginalUtility on the oy-axis. This slopes downward from left to Right.
As we see, the first cup of Tea yields Four utilities.
Second cup of tea yields three units.
Third cup yields two utilities.
Fourth cup of tea yields one of marginal Utility.
Fifth cup of tea yields zero marginal Utility. At this point, AB Curve touches the x-axis at point ‘C’ that shows the fifth cup of tea.
Sixth cup of tea yields negative marginal utility. So, the AB curve goes below the x-axis.
Conclusion – From the above discussion we understand that cardinal utility is measured in numbers as like 1,2,3,4.. So on. We are also able to understand the concept of marginal utility of consumption. Marginal utility rule is implemented in the normal life of human beings. Law of marginal utility you can download the syllabus Business Economics on the official website of Gndu.
Conclusion of Marginal Utility
The concept of marginal utility explains how consumer satisfaction changes with each additional unit of a good or service consumed. It follows the Law of Diminishing Marginal Utility, which states that as consumption increases, the additional satisfaction (marginal utility) derived from each extra unit gradually decreases. Law of marginal utility
Distinguish between the contracts of Bailment and Pledge.
Meaning of Bailment
Bailment in contract law refers to a legal relationship in which the owner of goods (the bailor) delivers the goods to another party (the bailee) for a specific purpose under a contract, with the understanding that the goods will be returned once the purpose is fulfilled or otherwise dealt with according to the owner’s instructions. difference between b
Meaning of Pledge
Pledge in contract law refers to a special type of bailment where goods or movable property are delivered by one party (the pledgor) to another party (the pledgee) as security for a debt or loan. The pledgee holds possession of the goods until the debt is repaid. Difference between bailment and pledge
Now, we can understand from the above meaning that Bailment and pledge are both types of contracts where one party temporarily transfers possession of goods or property to another party. However, they differ in purpose, rights, and obligations.
1.Purpose:
Bailment: The transfer of goods or property is for a specific purpose, such as repair, safekeeping, or transportation. The bailee is required to return the goods once the purpose is fulfilled.
Pledge: The goods are transferred as security for a loan or obligation. The pledgee has the right to sell the goods if the borrower defaults on the loan.
2. Ownership and Possession:
Bailment: The bailor retains ownership of the goods, while the bailee has temporary possession.
Pledge: The pledgor retains ownership, but the pledgee has possession of the goods as collateral for a debt.
3. Obligations:
Bailment: The bailee must take reasonable care of the goods, and they must return the goods once the purpose is completed
Pledge: The pledgee must safeguard the goods and return them once the debt is repaid. If the pledgor defaults, the pledgee has the right to sell the goods.
4. Legal Rights:
Bailment: The bailee has no right to sell or dispose of the goods.
Pledge: The pledgee has the right to sell the goods if the borrower defaults on the loan.
Examples:
Bailment: Lending a car to a friend for a trip, depositing clothes at a dry cleaner.
Pledge: Pledging jewelry or other valuables to secure a loan.
In summary, while both involve the temporary transfer of possession, bailment focuses on fulfilling a specific purpose, and pledge is mainly concerned with securing a loan. Difference between bailment and pledge
Conclusion of Bailment and Pledge
Both bailment and pledge involve the transfer of goods from one party to another, but they serve different purposes. Difference between bailment and pledge
Bailment:- is a contractual arrangement where goods are delivered by one party (the bailor) to another (the bailee) for a specific purpose, with the expectation of return or disposal as agreed. The bailee is responsible for taking reasonable care of the goods.
Pledge:- (a special type of bailment) is when goods are delivered as security for a debt or loan. The pledgee (creditor) has the right to sell the goods if the pledgor (borrower) fails to repay the debt. Difference between bailment and pledge
In conclusion:-, bailment focuses on the safekeeping and return of goods, while pledge is centered on securing a loan with goods as collateral. Both concepts emphasize trust, responsibility, and legal obligations between parties. you can check the syllabus on the official website of gndu.
Entrepreneurship Development and Project Management
Business Ethics & Environment Management
International Financial Markets and Foreign Exchange
International Financial Management
International Marketing
Advertising and Sales Management
Brand and Distribution Management
Services Marketing
M.com subjects in Gndu
If you would like to know the syllabus after knowing these subjects. You must visit on the official website GNDU. For the purpose of checking syllabus.
Meaning of cost:- Cost means price paid for something. But in the management terminology, Cost refers to the expenditure not a price. Thus cost represents a sacrifice of values for attaining
something.Definition According to the cost and management accountants, London, As “The amount of expenditure incurred on a given thing”.Example:- For Manufacturing of Clothes, The expenditure incurred on purchase of cotton, wages paid to weavers, salary paid to factory manager, supervisor and Depreciation of machinery in factories are the example of Cost items.
Meaning of Costing:- Costing is the method of ascertaining the cost of operations of manufacturing goods and services in the industry. Definition of Costing According to Weldon:- Cost is the recording, allocation and classifying the expenditure for the determination of costs of products or servic
However, there are different methods for ascertaining cost in different industries based on the nature of operations.Cost Accountancy :- Cost Accountancy is the application of principles of methods and techniques of costing and cost accounting. It is the art and science through which a cost accountant practices to have cost control and cost ascertainment. It contains the presentation of information for the purpose of managerial decision making.Scope of Cost Accountancy :- The scope of cost accountancy is wide and includes the following. What do you mean by cost accounting• Cost Ascertainment• Cost Accounting• Cost Control• Cost AuditNow let\’s study the question: what do you mean by Cost Accounting? COST ACCOUNTINGCost Accounting:- Cost Accounting is the process of accounting to record the costs of operations of the business in order to ascertain the total cost and per unit cost of services and products. Cost accounting is helpful to the management where a company is spending its money. How much money is being lost to earning.Cost accounting is useful for cost control and improving the efficiency of management. What do you mean by cost accountingDefinition According to the Institute of Cost and Management Accountants as “The techniques and process of ascertaining costs”. Cost accounting involves the recording of costs for the purpose of ascertaining and controlling the costs of products and services.In other words:- Cost accounting is the process of recording, classifying and analysing the expenditure for the purpose of product costing or service costing. So it is useful for ascertaining profitability planning and cost control.There are some costing methods like Budgeting, Standard Costing, Marginal costing and Material control techniques that are widely used by many businesses these days.Definition according to the Gordon, Cost Accounting is defined as “The body of concepts, methods and procedure used to measure, analyse, estimate the costs, profitability and performance of individual, products, departments and other segments of a company operations for internal and external use or both, and report to the externally interested parties”.This definition is simple which covers all important features of the cost Accounting system.However, These three terms as “ Costing”, “Cost Accounting”, “Cost Accountancy” are different from each other. Which are considered different by various authorities of cost accountants.
Features of Cost AccountingThe main features of cost accounting are as following
1. Cost accounting is the special branch of accounting which deals with the ascertainment of cost of products and services.
2. Cost Accounting is both Art and Science
.3. Cost Accounting also follows a double entry system like Financial Accounting.
4. Costs Accounting involves mainly recording, classification, analysis and ascertainment of costs.
5. Cost Accounting determines cost as total cost and per unit cost.
6. Cost Accounting provides appropriate data for determining the selling price of products and services as well as determining the quotation price and tender price.
7. Cost Account provides essential data for the purpose of exercising effective control over costs.
8. It provides data to the management for use in forward planning and decision making processes.
9. Cost control provides many techniques to the management for the controlling material in the business.
10. Cost accounts are used for making the budget for decreasing costs of products and services.
Now, we can understand the concept of cost accounting and the questions: what do you mean by cost accounting? And importance concerned with the business for ascertaining and controlling the costs. What do you mean by cost accountingconclusion:- Cost Accounting deals with the recording, classification and ascertaining costs for different products, processes, segments, centres and services of the business. Which represents total cost and per unit cost for the purpose of controlling costs as per desired target. It is also helpful to determine the appropriate price for selling products in the market. What do you mean by cost accountingThere is one more important question concerned with the cost accounting as follows. What are the 4 types of costs? When you are tired on the way to study you can read stunning love poetry as per your interest for the purpose of refreshing your mind. What do you mean by cost accountingWhat do you mean by cost accounting
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