MBA103-Statistics of Management

FALL-2018

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Master of Business Administration - MBA Semester 1

MBA103-Statistics of Management

Set - 1

Q1. Explain the concept of inferential statistics and how it is different from Descriptive statistics.

(Inferential statistics

Descriptive statistics)

Answer. : Inferential statistics use a random sample of data taken from a population to describe and make inferences about the population. Inferential statistics are valuable when examination of each member of an entire population is

Q2. Marks obtained by 50 students are given below.

Marks	10-20	20-30	30-40	40-50	50-60	60-70	70-80
No. Of Students	2	8	6	14	3	10	7

Calculate the median.

Calculation of Median

Answer. Median= L+ {[(N/2-F)/f] x h}

Q3. Define Regression analysis. Differentiate between Correlation Coefficient and Regression Coefficient.

(Explanation of Regression Analysis

Difference between Correlation and Regression Coefficient)

Answer. Regression analysis

Regression analysis is used to estimate the values of the dependent variables from the values of the independent variables. Regression analysis is used to get a measure of the error involved while using the

Set - 2

Q1. What is Business Forecasting? Point out its objectives and Differentiate among Prediction, Projection and Forecasting.

Meaning of business forecasting

Objectives of business forecasting

Meaning of Prediction, Projection and Forecasting

Answer. Business Forecasting

Business forecasting refers to the analysis of past and present economic conditions with the object of drawing inferences about probable future business conditions. The process of making definite

Q2. From the following data fit the straight line and predict the production for 2017 & 2018.

Years	2009	2010	2011	2012	2013	2014	2015
Production (In Tonnes)	8	12	13	17	25	22	30

Fitting of straight line

Forecast for 2017

Forecast for 2018

Answer.  

Q3. . For four commodities following figures are given

                                                2014                                                    2016

Commodity	Price	Quantity	Price	Quantity
A	25	6	28	5
B	28	7	25	8
C	12	15	10	20
D	35	4	40	3

Considering 2014 as base construct the following Index Numbers for 2016, construct

i. Laspeyre’s Index Number

ii. Paasche’s Index Number

iii. Dorbish and Bowley’s Index Number

iv. Fisher’s Index Number

Answer.

FALL-2018

Get solved assignments at nominal price of Rs.125 each.

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08219081362