MB0040–Statistics for Management

SUMMER-2015

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Master of Business Administration- MBA Semester 1

MB0040–Statistics for Management-4 Credits

(Book ID: B1731)

Assignment (60 Marks)

Note: Answer all questions (with 300 to 400 words each) must be written within 6-8 pages. Each Question carries 10 marks 6 X 10=60

Q1. Distinguish between Classification and Tabulation. Explain the structure and components of a Table with an example.

• Meaning of Classification and Tabulation

• Differences between Classification and Tabulation

• Structure and Components of a Table with an example

Answer. Meaning of Classification and Tabulation

Classification

According to Secrist, “Classification is the process of arranging data into sequences and groups according to their common characteristics or separating them into different but related parts”. According to Stockton and Clark, “The process of grouping large number of individual facts and observations, on the basis of similarity among the items is called Classification”.

Tabulation

Tabulation follows classification. It is a logical or systematic listing of related data in rows and columns. The row of

Q2. (a) Explain Arithmetic mean.

(b) 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 the mean and standard deviation for the entire group. 

Answer. (a) Arithmetic mean:  Arithmetic mean is defined as the sum of all values divided by number of values and is represented by X . Arithmetic mean is also called ‘average’. It is most commonly used measures of central tendency. Arithmetic Mean of a series is the value obtained by adding all the observations of a series and dividing this total by the number of observations. There are two types of

Q3. Mr. Arun and Mr. Bhandari play a game. If Mr. Arun picks up an even number from 1 to 6, Mr. Bhandari will pay him double the amount equal to picked up number. If Mr. Arun picks up an odd number then he has to pay amount equal to double the picked up number. What is Mr. Arun’s expectation?

Answer. Let Xi be the random variable and P(Xi) be its probability. The probabilities are indicated in table.

 Required Values

Q4. The probability that an employee will get an occupational disease is 20%. In a firm having five employees, what is the probability that:

i) None of the employees get the disease

ii) Exactly two will get the disease

iii) More than four will contract the disease.

Answer. Given that:

p = 20/100

Q5. Microsoft estimated that out of 10,000 potential software buyers, 35% wait to purchase the new OS Windows Vista, until an upgrade has been released. After an advertising campaign to reassure the public was released, Microsoft surveyed 3000 buyers and found 950 who are still skeptical. At 5% level of significance, can the company conclude that the population of skeptical people had decreased? 10

Answer. The procedure is explained in the following steps:

1. Null hypothesis Ho: p = .35

Alternate hypothesis H1: p < 0.35

Q6. Explain Chi-square test and the conditions for applying chi-square test.

Answer. Chi-Square test: The Chi-square test is one of the most commonly used non-parametric tests in statistical work. The Greek Letter c2 is used to denote this test. c2 describe the magnitude of discrepancy between the observed and the expected frequencies.

SUMMER-2015

Get solved assignments at nominal price of Rs.120 each.

Mail us at: subjects4u@gmail.com or contact at

09882243490