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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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25 x 4=100 marks