MB0040 - STATISTICS FOR MANAGEMENT

DRIVE	SPRING 2014
PROGRAM	MBADS/ MBAFLEX/ MBAHCSN3/ MBAN2/ PGDBAN2
SEMESTER	I
SUBJECT CODE & NAME	MB0040 - STATISTICS FOR MANAGEMENT
BK ID	B1731
CREDITS	4
MARKS	60

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ASSIGNMENT

1 A statistical survey is a scientific process of collection and analysis of numerical data. Explain the stages of statistical survey. Describe the various methods for collecting data in a statistical survey.

Answer:-Meaning of statistical survey

A Statistical Survey is a scientific process of collection and analysis ofnumerical data. Statistical surveys are used to collect information aboutunits in a population and it involves asking questions to individuals. Surveysof human populations are common in government, health, social science and marketing sectors.

Stages of Statistical Survey-

2 a) Explain the approaches to define probability.

Answer:-There are four approaches to define Probability. They are as follows:

1) Classical / mathematical / priori approach

2) Statistical / relative frequency / empirical / posteriori approach

3) Subjective approach

iii) Axiom of addition, where A1,A2,...An aresequence of disjoint events of the sample space.

b) In a bolt factory machines A, B, C manufacture 25, 35 and 40 percent of the total output. Of their total output 5, 4 and 2 percent are defective respectively. A bolt is drawn at random and is found to be defective. What are the probabilities that it was manufactured by machines A, B and C?

Solution:-Let us consider the following:

Let ‘A1’ be the event that bolt factory machines

Let ‘A2’ be the event that bolt factory machines

Let ‘A3’ be the event that bolt factory

3 a) The procedure of testing hypothesis requires a researcher to adopt several steps. Describe in brief all such steps.

Answer:-There are five steps involved in testing on hypothesis while are as follows:

            a)         Formulate a Hypothesis: The first step is to set up two hypothesis instead of one in such a way that if one hypothesis is true, the other is false. Alternatively; if one hypothesis is false or rejected then the other is true or accepted.

b) A sample of 400 items is taken from a normal population whose mean as well as variance is 4. If the sample mean is 4.5, can the sample be regarded as a truly random sample?

Solution

Step 1     =   H0: u=4,    H1: u  4

Step 2:   =   z= 4.5-4/ standard deviation | square Root of n

               = 4.5-4|2/20=5

4 a) What is a Chi-square test? Point out its applications. Under what conditions is this test applicable?

Answer:-The Chi-square test is one of the most commonly used non-parametric testsin statistical work. The Greek Letter X2 is used to denote this test. X2describe the magnitude of discrepancy between the observed and theexpected frequencies. The

b) What are the components of time series? Enumerate the methods of determining trend in time series.

Answer:-The behaviour of a time series over periods of time is called the movementof the time series. The time series is classified into the following fourcomponents:

i) Long term trend or secular trend

ii) Seasonal variations

iii) Cyclic variations

5 What do you mean by cost of living index? Discuss the methods of construction of cost of living index with an example for each.

Answer:-Meaning of cost of living index

The ‘Cost of living index’, also known as ‘consumer price index’ or ‘Cost ofliving price index’ is the country’s principal measure of price change. TheConsumer price index helps us in determining the effect of rise and fall inprices on different classes of consumers living in different areas.

Methods of constructing cost of living index with an

6 a) What is analysis of variance? What are the assumptions of this technique?

Answer:-Analysis of Variance (ANOVA) is useful in such situations as comparing themileage achieved by five different brands of gasoline, testing which of fourdifferent training methods produce the fastest learning record, or comparingthe first-year earnings of the graduates of half a dozen different businessschools. In each of these cases, we would compare the means of more thantwo samples. Hence, in most of the fields, such as agriculture,

b) Three samples below have been obtained from normal populations with equal variances. Test the hypothesis at 5% level that the population means are equal.

[The table value of F at 5% level of significance for V1 = 2 and V2 = 12 is 3.88]

 Solution: - let Ho: there is no significant different in the means of three samples

Dear students get fully solved  SMU BBA Spring 2014 assignments

Send your semester & Specialization name to our mail id :

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or

Call us at : 08263069601