Data Intenpretation Based on Caselets INTRODUCTION
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Contribution of the topic Total Questions from DI & LR section: 32 All questions were in sets form, wherein each set comprised 4 questions. 16 Questions (i.e., 4 sets) on DI 16 Questions i.e., 4 sets) on LR Data Interpretation(DI) Of the 4 sets on DI, 1 set i.e., 4 questions may be based on Caselets. Hence, we can say 25% of DI may be cleared if we thoroughly prepare this topic. . NOTE: This analysis is based on previous year papers
What is Data Interpretation? Data Interpretation or Data Analysis, as the name suggests, is all about data. Looking at life scientifically, we can say that life is all about DATA. It is all around us, almost everything is accompanied with data. From sales reports to trends to budget planning to almost every single operation, some calculations or the other are required. In this section, we explore these calculations The basic idea that operates behind these questions is to test a candidate on his ability to make decisions and establish what would be the best recourse in different situation. Each set of question generally consist of multiple conditions and one is supposed to use these clues to solve the questions.
Structure of Questions In the question, Data may be presented in any of the following form: 1. Tables 2. Bar Charts 3. X-Y Charts 4. Pie Charts 5. Cases (Representing Data) We need to solve it using the information given. Note: In this course we are going to study Caselets in detail
Caselets A case is nothing but a paragraph/passage which provides information about the values of the variables. Most cases are solved by converting the provided information into a tabular format The case form of data interpretation is used by the question setter in order to test the student s feel for numbers, for variables and their inter-relationship and his/her ability to convert the information provided into useful format. Question and their answers hinge on the student's ability to first spot the variables under consideration and then to interrelate the given variables in order to make sense of the raw information provided by the case
Kev Skills Involved I Firstly, identify the variables in the data, the number of instances of the variables provided and the respective inter relationships amongst the variables II. Once the above information is figured out, it can be put into a tabular format to solve the given case. III. Now fill the table with direct data given. Now, with the basic framework, identify the solution to the question being asked. Only focus to solve only to get the answer ofthe question asked NOTE: Transfer any information derived in the process of solving one question onto the table so that it is available for all subsequent questions.
Example: Kishore, an aspiring entrepreneur wanted to set up a power bank manufacturing un t. Since technology was changing very fast, he wanted to carefully gauge the demand and the likely profits before investing. Market survey indicated that he would be able to sell 1 lakh units before customers shifted to different gadgets. Kishore realized that he had to incur two kinds of costs fixed costs (the costs which do not change, irrespective of number of units of power banks produced) and variable costs (= variable cost per unit multiplied by number of units). Kishore expected fixed cost to be Rs. 80 lakh and variable cost to be Rs. 200 per unit. He expected each power bank to be sold at Rs. 400
Answer the following: Q1. What would be the break-even point (defined as no profit, no loss situation) for Kishore's factory, in term of sales? A. Rs. 160L B. Rs. 200L C. Rs. 24OL D. Rs. 280L E. Insufficient data. Workspace:
Answer the following: Q1. What would be the break-even point (defined as no profit, no loss situation) for Kishore's factory, in term of sales? A. Rs. 160L B. Rs. 200L C. Rs. 24OL D. Rs. 280L E. Insufficient data. Workspace: Let the break even point be attained on the sale of x' units. Therefore, 80,00,000 + 200x= 400x Or, x = 40000 So the total sales = 40000 x 400= Rs. 160 lakh. Answer: Option (a)
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