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24 x 7 hours
24 x 7 hours
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PROGRAM - MBA
SEMESTER I
SUBJECT CODE & NAME - MB0040
STATISTICS FOR MANAGEMENT
1. Distinguish between
Classification and Tabulation.
Explain the structure
and components of a Table with an example.
Meaning of Classification and Tabulation
Classification is a process of arranging things or data in groups
or classes according to their resemblances and affinities
Definition of classification
Classification is
the process of arranging data into
sequences and groups according to their common characteristics or separating
them into different but related parts – Secrist
Tabulation follows classification. It is a logical or systematic listing of related data in
rows and columns.
The row of
a table represents
the horizontalarrangement of
data and column
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2. a) Describe the characteristics
of Normal probability distribution.
a) Characteristics of
Normal probability distribution
The following are some
of the characteristics of normal distribution:
1. Normal distribution is a continuous
probability distribution
2. Its probability density function is given by:
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2. b) In a sample of 120 workers
in a factory, the mean and standard deviation of wages were Rs. 11.35 and
Rs.3.03 respectively. Find the percentage of workers getting wages between Rs.9
and Rs.17 in
the whole factory
assuming that the
wages are normally distributed.
Answer:
Let the wages be X. Then, X
is a normal variate with parameters µ=11.35 and σ=3.03
Therefore, Z = 
= 
is a
standard normal variate.
= is a
standard normal variate.
Between 9 and 17
P (9 < X < 17) = P (
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Ans: Hence 75.1% percentage of workers getting
wages between Rs.9 and
Rs.17
3. a) The
procedure of testing
hypothesis requires a
researcher to adopt
several steps. Describe in brief
all such steps.
Steps are as follows: -
Step 1 : State null
hypothesis (H0) and alternate hypothesis (H1).
Step 2: State the level
of significance. This gives you the tabulated normal/’t’ – value.
3. b) Distinguish between:
i. Stratified random sampling and Systematic sampling
ii. Judgement sampling and Convenience sampling
Ans : i. Stratified random sampling and
Systematic sampling
Stratified random sampling :
This sampling design is
most appropriate if the population is heterogeneous with respect
to characteristic under
study or the
population distribution is highly skewed.
We subdivide the
population into several groups or strata such that:
i) Units within each stratum is more homogeneous
3. b. ii. Judgement sampling and Convenience sampling
Judgment sampling :
The choice
of sample items
depends exclusively on
the judgment of the
investigator. The investigator’s experience
and knowledge about
the population will help to select the sample units. It
4. a) What is regression analysis?
How does it differ from correlation analysis?
Correlation
When two or more
variables move in sympathy with the other, then they are said to be correlated.
If both variables move in the same direction, then they are said
to be positively
correlated. If the
variables move in
the opposite direction, then
they are said
to be negatively
correlated. If they
4. b) Calculate Karl Pearson’s coefficient of correlation between X
series and Y series.
X 110 120 130 120 140
135 155 160
165 155
Y 12 18 20 15 25 30 35 20 25 10
Answer: -
Below table depicts the sums calculated for the data
depicted in table ,
X
|
Y
|
X2
|
Y2
|
XY
|
110
|
12
|
12100
|
144
|
1320
|
120
|
18
|
14400
|
324
|
2160
|
130
|
20
|
16900
|
400
|
2600
|
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5. Briefly explain the methods and
theories of Business forecasting.
Meaning of Business forecasting: Business forecasting
refers to the
analysis of past
and present economic conditions with
the object of
drawing inferences about
probable future business conditions.
The process of
making definite estimates
of future course of events is
referred to as forecasting and the figure or statements obtained from the
process is known as ‘forecast’; future
course
6. Construct Fisher’s Ideal Index
for the given information and check whether Fisher’s formula satisfies Time
Reversal and Factor Reversal Tests.
Items P0 Q0 P1 Q1
A 16 5 20 6
B 12 10 18 12
C 14 8 16 10
D 20 6 22 10
E 80 3 90 5
F 40 2 50 5
Answer: -
Formula of Fishers Ideal Index
Computation of Fisher’s Ideal Index
Items
|
P0
|
Q0
|
P1
|
Q1
|
P0Q0
|
P0Q1
|
P1Q0
|
P1Q1
|
A
|
16
|
5
|
20
|
6
|
80
|
96
|
100
|
120
|
B
|
12
|
10
|
18
|
12
|
120
|
144
|
180
|
216
|
C
|
14
|
8
|
16
|
10
|
112
|
140
|
128
|
160
|
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