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Master of Business Administration- MBA Semester 1
MB0040 – Statistics for Management - 4 Credits
(Book ID: B1623)
Assignment Set - 1 (60 Marks)
Note: Each question
carries 10 Marks. Answer all the questions.
Q1. Mention the
characteristics of Statistics. Explain any two applications of Statistics.
Answer: -
Statistics is the study of the collection, organization,
analysis, interpretation and presentation of data. It deals with all aspects of
this, including the planning of data collection in terms of the design of
surveys and experiments.
Characteristics of Statistics
Aggregate of Facts
Statistics does not refer to a single figure but it refers
to a series of figures. A single weigh of 50kg is not statistics but a series
relating to the weight of a group of persons is called statistics. It means,
all..................................................
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Q2. Distinguish
between primary and secondary data. What are the methods of collecting primary
data?
Answer: -
The Difference
between Primary and Secondary Sources of Data Primary data is data, which is
collected by the researcher themselves. This kind of data is new, original
research information. Primary sources enable the researcher to get as close as
possible to what actually happened and is hands on. A primary source reflects
the individual viewpoint of a participant or observer. Primary sources are
first-hand information from a person who witnessed or participated in an event.
Examples of primary data are: Interviews Questionnaires
Observations
Primary Data
• Needs more funds.................................................
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Q3. Find Karl
Pearson’s correlation coefficient between the sales and expenses from the data
given below:
|
Sales
(Rs. Lakhs)
|
50
|
50
|
55
|
60
|
65
|
65
|
65
|
60
|
60
|
50
|
|
Expenses (Rs. Lakhs)
|
11
|
13
|
14
|
16
|
16
|
15
|
15
|
14
|
13
|
13
|
Karl Pearson’s
Co-efficient of Correlation in SHORT-CUT METHOD Formula:-
Answer :
Q4. The incidence of
occupational disease in an industry is such that the workers have a 20% chance
of suffering from it. What is the probability that out of six workers 4 or more
will contract the disease?
Answer
Q5. Use chi-square
test to test if the two attributes (Performance and Training) in the following
table are independent. Test at 5% level of significance.
|
Performance
|
Training
|
||||||
|
Intensive
|
Good
|
Average
|
Total
|
||||
|
Above Average
|
100
|
150
|
40
|
290
|
|||
|
Average
|
100
|
100
|
100
|
300
|
|||
|
Poor
|
50
|
80
|
150
|
280
|
|||
|
Total
|
250
|
330
|
290
|
870
|
|||
Answer :
Q6. Construct index
numbers of price for the following data by applying:
i) Laspeyre’s method
ii) Paasche’s method
iii) Fisher’s Ideal
Index number
|
Commodity
|
Base year
|
Current year
|
|||||||
|
Price
|
Quantity
|
Price
|
Quantity
|
||||||
|
A
|
2
|
8
|
4
|
6
|
|||||
|
B
|
5
|
10
|
6
|
5
|
|||||
|
C
|
4
|
14
|
5
|
10
|
|||||
|
D
|
2
|
19
|
2
|
13
|
|||||
Answer :
Solution:
Master of Business Administration- MBA Semester 1
MB0040 – Statistics for Management - 4 Credits
(Book ID: B1623)
Assignment Set - 2 (60 Marks)
Note: Each question
carries 10 Marks. Answer all the questions.
Q1. Distinguish
between Classification and Tabulation of data. What are the types of Classification
of data?
Answer : Introduction
In any statistical investigation, the collection of the
numerical data is the first and the most important matter to be attended. Often
a person investigating, will have to collect the data from the actual field of
inquiry. For this he may issue suitable questionnaires to get necessary
information or he may take actual interviews; personal interviews are more
effective than questionnaires, which may not evoke an adequate response.
Another method of collecting data may be available in publications of
Government bodies or other public or private organizations.
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Q2. Calculate mean
and median for the following data
|
Marks
|
0-20
|
20-40
|
40-60
|
60-80
|
80-100
|
100-120
|
120-140
|
|
No of Students
|
4
|
26
|
22
|
10
|
9
|
6
|
3
|
Answer :
Q3. Calculate the
regression equations of X on Y and Y on X from the following data:
|
X
|
1
|
2
|
3
|
4
|
5
|
|
Y
|
2
|
5
|
3
|
8
|
7
|
Answer : If the plot of n pairs of data (x , y) for an
experiment appear to indicate a "linear relationship
Q4. What is sampling?
Briefly explain the various methods of sampling.
Answer : Sampling
is a tool which enables us to draw conclusions about thecharacteristics of
population.
................................................
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Q5. A company
appoints four salesmen, A, B, C and D, and observes their sales in three seasons-
summer, winter and monsoon. The figures ( in lakhs) are given in the following
table:
|
Season
|
Salesman
|
||||||||
|
A
|
B
|
C
|
D
|
Total
|
|||||
|
Summer
|
36
|
36
|
21
|
35
|
128
|
||||
|
Winter
|
28
|
29
|
31
|
32
|
120
|
||||
|
Monsoon
|
26
|
28
|
29
|
29
|
112
|
||||
|
Total
|
90
|
93
|
81
|
96
|
360
|
||||
Carry out an analysis
of variance at 5% level of significance.
Answer :
Q6. The mean wage is
Rs. 75 per day, SD wage is Rs 5 per day for a group of 1000 workers and the
same is Rs 60 and Rs 4.5 for the other group of 1500 workers. Find mean and
standard deviation for the entire group.
Answer :
................................................
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