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DRIVE-Fall 2015
SUBJECT
CODE & NAME MB0040 STATISTICS FOR MANAGEMENT
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Q1.Statistics
plays a vital role in almost every facet of human life. Describe the functions
of Statistics. Explain the applications of statistics.
(Meaning – 2 marks, Functions – 3 marks,
Applications - 5 marks)
Answer: :-
Answer:
Statistics
Statistics
is the study of the collection, analysis, interpretation, presentation and
organization of data. Since data are used in most areas of human endeavor, the
theory and methods of modern statistics have been applied to a wide
1.
Q2.
a) Explain the approaches to define
probability.
b) State the
addition and multiplication rules of probability giving an example of each
case.
Answer:
a.
Approaches to define Probability
There are four approaches to define Probability. They
are as follows:
1) Classical / mathematical / priori
Q3.
a)
The procedure of testing hypothesis requires a researcher to adopt several
steps. Describe in brief all such steps.
b)
Explain the components of time series.
Answer.
a.
Steps
for procedure of testing hypothesis
- Making
assumptions
- Stating
the research and null hypotheses and selecting (setting) alpha
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) Discuss the types of measurement scales
with examples.
Answer:
a. Chi-square test
The Chi-square
test is one of the most commonly used non-parametric tests in statistical work.
The Greek Letterc2 is
used to denote this test.
c2
describe
the magnitude of discrepancy between
Q5.Business
forecasting acquires an important place in every field of the economy. Explain
the objectives and theories of Business forecasting.
(Meaning
– 2 marks, Objectives – 3 marks, Theories – 5 marks)
Answer:
Meaning:
Business
forecasting provides a guide to long-term strategic planning and helps to
inform decisions about scheduling of production,
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
Get fully solved assignment. Buy online from website
online store
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we will revert you within 2-3 hour or immediate
Charges rs
125/subject and rs 700/semester only.
if urgent then call us
on 08791490301, 08273413412
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