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ASSIGNMENT DRIVE SPRING 2014
PROGRAM MBADS / MBAHCSN3 / MBAN2 / PGDBAN2 / MBAFLEX
SEMESTER I
SUBJECT CODE & NAME MB0040 STATISTICS FOR
MANAGEMENT
Note: Answer all questions. Kindly note that answers
for 10 marks questions should be approximately of 400 words. Each question is
followed by evaluation scheme.
Q1. 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. (Meaning of statistical
survey, Stages of statistical survey (Listing and Explanation), Methods for
collecting data) 2, 5, 3
Answer:
Meaning of Statistical Survey
A Statistical Survey is a
scientific process of collection and analysis of numerical data. Statistical
surveys are used to collect information about units in a population and it
involves asking questions to individuals.
Surveys of human populations are
common in government, health, social science and marketing sectors.
Q2.
a) Explain the
approaches to define probability.
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? (Applying Bayes theorem and
calculating the probabilities) 6
Answer:
a.
Approaches
to define Probability
There
are four approaches to define Probability. They are as follows:
1)
Classical / mathematical / priori approach
2)
Statistical / relative frequency / empirical / posteriori approach
Q3.
a)
The procedure of testing hypothesis requires a researcher to adopt several
steps. Describe in brief all such steps.
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?
[a)
Hypothesis testing procedure b) Calculation and solution to the problem] 5, 5
Answer.
a.
Steps
for procedure of testing hypothesis
Five Steps in Hypothesis
Testing:
- Specify the Null Hypothesis
- Specify the
Alternative Hypothesis
Q4. a. What is
a Chi-square test? Point out its applications. Under what conditions is this
test applicable? (Meaning of Chi-square test, Applications, Conditions)
b) What are the components of time series? Enumerate
the methods of determining trend in time series. (Components of time series and
methods of determining trend in time series) 6
Answer:
a.
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
Q5. What do you
mean by cost of living index? Discuss the methods of construction of cost of
living index with an example for each. (Meaning of cost of living index, Methods
of constructing cost of living index with an example for each) 2, 8
Answer: Cost
of Living Index or Consumer Price Index
The ‘Cost
of living index’, also known as ‘consumer price index’ or ‘Cost of living price
index’ is the country’s principal measure of price change. The Consumer price
index helps us in determining the effect of rise and fall in prices on
different classes of consumers living in different areas.
Q6 a. What is
analysis of variance? What are the assumptions of the technique?
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.
(Meaning of Analysis of Variance, Assumptions,
Formulas/Calculation/Solution to the problem) 2, 1, 7
Answer:
Analysis of
variance (ANOVA)
It is a collection
of statistical models used to analyze the differences between group means and
their associated procedures (such as "variation" among and between
groups). In ANOVA setting, the observed variance in a particular variable is
partitioned into components attributable to different
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