Business Statistics

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NMIMS Global Access

School for Continuing Education (NGA-SCE)

Business Statistics

Internal Assignment Applicable for June 2016 Examination

Assignment Marks: 30

Instructions:

·         All Questions carry equal marks.

·         All Questions are compulsory

·         All answers to be explained in not more than 1000 words for question 1 and 2 and for question 3in not more than 500 words for each subsection. Use relevant examples, illustrations as far aspossible.

·         All answers to be written individually. Discussion and group work is not advisable.

·         Students are free to refer to any books/reference material/website/internet for attempting theirassignments, but are not allowed to copy the matter as it is from the source of reference.

·         Students should write the assignment in their own words. Copying of assignments from otherstudents is not allowed.

Question. 1.Differentiate between correlation and regression. Explain with suitable example using data.(10 Marks)

Answer:Correlation: In correlation analysis, we gauge an example Correlation coefficient, all the more particularly the Pearson Product Moment Correlation coefficient. The specimen correlation coefficient, meant r,

ranges between - 1 and +1 and evaluates the heading and quality of the straight correlation between the two variables. The Correlation between's two variables can be sure (i.e., more elevated amounts of one variable are connected with more elevated amounts of the other) or negative (i.e., more elevated amounts of one variable are connected with lower levels of the other).

The indication of the correlation coefficient shows the course of the affiliation. The size of the correlation coefficient shows the quality of the affiliation.

For instance, a correlation of r = 0.9 proposes a

Question.2. You want to find a measure of central tendency for income of persons who have boarded aparticular train on a particular date at the originating station. What measure will you useand why? What measure will you choose for dispersion and why? (10 marks)

Answer:Measuring: Surveying on the salary. In the event that I was you, I would enter trains of various sorts to various time and Survey (quantitative survey). Remember that straightforwardly getting some data about wage in the train may be translated off-base. So get some data about different things, for example, identity, time administration, kind of travel (get-aways, drive). Toward the end to ask the "general inquiries" and among them the wage tendency.

Question.3. a)Distinguish between independence of events and mutual exclusivity of events with thehelp of example. (5 marks)

Answer:Events are fundamentally unrelated if the event of one occasion bars the event of the other(s). Fundamentally unrelated Events can't happen in the meantime. For instance: while flipping a coin, the outcome can either be Heads or Tails yet can't be both.

b)In how many ways can the letters of the word “MADAM” be rearranged? (5 marks)

Answer:The rearrangements of words allows us to find many other related words and when we talk about the rearranged groups of “MADAM” then we will find the answer with the help of anagram. Below is the anagram process and the answer of this question.

Step 1: Count the quantity of Letters you have (Answer: 5)

Step 2 : Get its factorial (meant by "!") in the numerator.

Step 3 : Get the Factorial of the rehashing letters in the denominator

5! /( 2! * 2!)

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