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DRIVE SPRING 2016
PROGRAM BBA 104
SEMESTER I
SUBJECT CODE
& NAME QUANTITATIVE TECHNIQUES IN BUSINESS
1 Define Central
Tendency. Elaborate various measures of Central Tendency.
Meaning of Central Tendency
Arithmetic mean
Median
Mode
Answer: The most
important objective of statistical analysis is to determine a single value for
the entire mass of data, which describes the overall level of the group of
observations. It is a single figure and describes the entire series of observations
with their varying sizes. A single number describing some features of a
frequency distribution is called descriptive statistics. There are various ways
2 Write short
notes on
a. Standard
deviation
b. Coefficient
of determination
c. Control
Charts
d. Price Index
Number
Answer: a) Standard
Deviation of a set of observations is the square root of the arithmetic mean of
squares of deviations from arithmetic mean. If, n
x , x ....x 1 2 be a set of
observations and x their
arithmetic mean.
Advantages
Ø It
is based on all observations. Even if one of the observations is changed,
standard deviation changes, However, range and quartile deviation do not posses
this property. The whole set of observations intermediate between the largest
and the smallest value may be
3 a. Explain the
methods of determining trend in time series.
b. Fit a
straight line trend by method of least squares to the following data:
Method of determining trend
Fit a straight line
Answer: a) Measurement
of Trend
Free
hand method or graphic method
In
free hand method the given data are plotted as points on a graph paper against
time. The time series data (y) are shown along the vertical axis and time (t)
along horizontal axis. Then a smooth free
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