MB0040 – Statistics for Management

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Spring 2013

Master of Business Administration- MBA Semester 1

MB0040 – Statistics for Management - 4 Credits

(Book ID: B1731)

Assignment Set - 1 (60 Marks)

Note: Assignment Set -1 must be written within 6-8 pages. Answer all questions.

Q1.a. Explain the characteristics 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.

Ø  Characteristics of Statistics

·         Aggregate of Facts

Statistics does not refer to a single

b. What are the components of Statistics? Give a brief description of each of the components.5 +5 = 10 marks(200 - 250 words each)

Answer : The Four Components of Statistics and Probability:

• Gathering

• Displaying

• Interpretation

• Inference

Gathering data, whether in or out of a classroom, occurs on a daily basis. We are always observing and processing information as we go about the

Q2.Explain the objectives of Statistical Average. What are the requisites of a good average? 10 marks(350-400 words)

Answer : Objectives of Averages

Averages occupy a prime place in the theory of statistical methods. That is why Bowley remarked, "Statistics is a science of averages." The following are the m ' objectives of an average:

1. Facilitates Comparison:

Q3.a. Mention the Characteristics of Chi-square test.

Answer : Characteristics

Further properties of the chi-squared distribution can be found in the box at the upper right corner of this article.

Probability density function

b. Two research workers classified some people in income groups on the basis of sampling studies. Their results are as follow:

Investigators	Income groups			Total
	Poor	Middle	Rich
A	160	30	10	200
B	140	120	40	300
C	300	150	50	500

Show that the sampling technique of atleast one research worker is defective.10 marks

(350-400 words)

Answer : Let us take the hypothesis that the sampling techniques adopted by research workers are similar(i.e there is not difference between  the techniques adopted by research workers).This being so, the expectations of A

Q4.What do you mean by cost of living index? Discuss the methods of construction of cost of living index with an example for each.10 marks(350-400 words)

Answer : The cost-of-living index, or general index, shows the difference in living costs between cities. The cost of living in the base city is always expressed as 100. The cost of living in the destination is then indexed

Q5.Define trend. Enumerate the methods of determining trend in time series

10 marks(350-400 words)

Answer : Trend estimation is a statistical technique to aid interpretation of data. When a series of measurements of a process are treated as a time series, trend estimation can be used to make and justify statements about tendencies in the data, by relating the measurements to the times at which they occurred. By using trend

Q6.The following data represent the number of units of production per day turned out by 5 different workmen using different types of machines.

10 marks

Workmen	Machine type
	A	B	C	D
1	44	38	47	36
2	46	40	52	43
3	34	36	44	32
4	43	38	46	33
	38	42	49	39

i) Test whether the mean productivity is the same for the four different machine types.

ii) Test whether 5 men differ with respect to mean productivity.

Answer : Let Ho: (a) Mean

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