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NIBM GLOBAL
THIRD SEMESTER MBA
Subject : Quantitative Techniques for
Business Analysis
Attend any
4 questions. Each question carries 25
marks
(Each
answer should be of minimum 2 pages / of 300 words)
Question. 1. What
are the Methods of data collection? Explain.
Answer : 1. Observation:
Observation method
has occupied an important place in descriptive sociological research. It is the
most significant and common technique of data collection. Analysis of
questionnaire responses is concerned with what people think and do as revealed
by what they put on paper. The responses in interview are revealed by what people
express in conversation with the interviewer. Observation seeks to ascertain
what people think and do by watching them in action as they express themselves
in various situations and activities.
Observation is the
process in which one or more persons observe what is occurring in some real
life situation and they classify and record
Question. 2. Explain
the procedure to be followed to form a grouped table.
Answer :
Question. 3. Define
Frequency Polygon? Explain with examples.
Answer : A frequency polygon is almost identical to a histogram, which is
used to compare sets of data or to display a cumulative frequency distribution.
It uses a line graph to represent quantitative data.
Statistics deals
with the collection of data and information for a particular purpose. The
tabulation of each run for each ball in cricket gives the statistics of the
game. Tables, graphs, pie-charts, bar graphs, histograms, polygons etc. are
used to represent statistical data pictorially.
Frequency
polygons are a visually substantial method of representing quantitative data
and its frequencies. Let us discuss how to represent a frequency polygon.
Steps to Draw Frequency Polygon
To draw
frequency polygons, first we need
Question. 4. How are data spread or dispersed
around an Average? How is it measured? Give examples.
Answer :
Question. 5. What
are the rules of Probability in Addition and Multiplication? Explain with
example.
Answer : The Addition Rule
The addition rule
states the probability of two events is the sum of the probability that either
will happen minus the probability that both will happen.
Addition Rule:
𝑃(𝐴
∪ 𝐵) = 𝑃(𝐴)
+ 𝑃(𝐵) − 𝑃(𝐴
∩ 𝐵)
The probability of
event A or event B can be found by adding the probability of the separate
events A and B and subtracting any intersection of the two events.
More intuitively,
if we were to take the area of
Question. 6. Explain
Random Sampling with examples.
Answer : Definition: Simple
random sampling is defined as a sampling technique where every item in the
population has an even chance and likelihood of being selected in the sample.
Here the selection of items entirely depends on luck or probability, and
therefore this sampling technique is also sometimes known as a method of
chances.
Simple random
sampling is a fundamental sampling method and can easily be a component of a
more complex sampling method. The main attribute of this sampling method is
that every sample has the same probability of being chosen.
Select your respondents
The sample size in
this sampling method should ideally be more than a few hundred so that simple
random sampling can be applied
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study help by professionals.
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25 x 4=100 marks
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