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ASSIGNMENT
DRIVE Winter 2015
PROGRAM
MBADS / MBAHCSN3 / MBAN2 / PGDBAN2 / MBAFLEX SEMESTER I
SUBJECT
CODE & NAME MB0040 STATISTICS FOR MANAGEMENT
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:-
Statistics-
Statistics as a discipline is the development and application of methods to
collect, analyze and interpret data. Modern statistical methods involve the
design and analysis of experiments and
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 approach
2) Statistical / relative frequency / empirical /
posteriori approach
3)
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
Five Steps in Hypothesis Test
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 the observed
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 – 4 marks,
Theories – 4 marks)
Answer:
Meaning:
Business forecasting provides a guide to
long-term strategic planning and helps to inform decisions about scheduling of
production, personnel and distribution. These are common statistical tasks in
business that are often done poorly and frequently confused with planning and
setting of
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
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