MB0040 - STATISTICS FOR MANAGEMENT

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ASSIGNMENT

DRIVE	SPRING 2016
PROGRAM	MBADS / MBAHCSN3 / MBAN2 / PGDBAN2 / MBAFLEX
SEMESTER	I
SUBJECT CODE & NAME	MB0040 - STATISTICS FOR MANAGEMENT
BK ID	B1731
CREDITS	4
MARKS	60

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

Q1.         Write Short notes on

a. Descriptive Statistics

b. Measurement Scales

c. Editing of Data

d. Frequency Distribution

e. bar diagram

a. Descriptive Statistics: Descriptive statistics are distinguished from inferential statistics (or inductive statistics); Descriptive Statistics is used to present the general description of data which is summarized quantitatively.

b. Measurement Scales: Variables differ in how well they can be measured, that is, in how much measurable information their measurement scale can provide. There is obviously some measurement error

c. Editing of Data: Editing the data is important and it is a time-consuming process. The data collected through various sources will be highly unorganized and needs to be summarized and analyzed for further studies. There

d. Frequency Distribution: A systematic presentation of the values taken by variable together with corresponding frequencies is called a frequency distribution of the variable. A frequency distribution is a statistical table which shows, the set of

E. bar diagram: Simple bar diagram is drawn when items are to be compared with respect to a single characteristic. A rectangular bar is constructed with height proportional to the magnitude of the items. It can be drawn

Q2. What do you mean by Probability?Define following basic terminologies used in probability theory.

Definition of Probability: The probability of an event is the measure of the chance that the event will occur as a result of an experiment. The probability of an event A is the number of ways event A can occur divided by the total number of possible outcomes. Probability is a numerical measure which indicates the chance of occurrence of

Q3.         Define Probability Distributions. State the assumptions and usage of Binomial Distribution and Normal Distribution.

A Probability distribution which has the following probability mass function (p.m.f) is called Binomial distribution.

When a Bernoulli experiment is repeated for ‘n’ number of times, then it is called a binomial process. Binomial distribution is a discrete probability distribution. Its probability mass function is given by:

Q4. Write short notes on

a. Type I and Type II error

b. Level of Significance

c. Null Hypothesis

d. Two–tailed Tests and One–tailed Tests

e. Test Statistics

a. Type I and Type II error: type I error

For example, making a type I error (rejecting a null hypothesis when it is true) involves the time and trouble of reworking a batch of chemicals that

b. Level of Significance: The purpose of hypothesis testing is not to question the computed value of the sample statistic but to make a judgment about the difference between that sample statistic and a hypothesized value for

c. Null Hypothesis: A null hypothesis is a type of hypothesis used in statistics that proposes that no statistical significance exists in a set of given observations. The null hypothesis attempts to show that no variation exists

d. Two–tailed Tests and One–tailed Tests: A two-tailed test of a hypothesis will reject the null hypothesis, if the sample mean is significantly higher than or lower than the hypothesized population

Q5. Explain the concept of Chi-Square. Following table depicts the production in three shifts and the number of defective goods that turned out in three weeks in an organization. Test at 5% level of significance whether weeks and shifts are independent.

Shift	WEEK 1	WEEK 2	WEEK 3
I	15	5	20
II	20	10	20
III	25	15	20

Solution:

Shift	1st Week	2nd Week	3rd Week	Total
I	15	5	20	40
II	20	10	20	50

Q6.Case Study –

The following table gives the weekly sales of black &color cartridges by a computer accessories store for the past 7 weeks.

Weekly Sales of Cartridges

Black Cartridges		Colour Cartridges
Week	Sales	Week	Sales
1	60	1	67
2	50	2	57
3	70	3	47
4	60	4	50
5	50	5	60
6	55	6	70
7	45	7	60

Prepare a weekly forecast for the next 5 weeks for both types of cartridges. Justify the methodused.

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