MB0040 – Statistics for Management
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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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