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Spring
2016
MBA
Semester 1
MB
0040- Statistics for Management
Q1. Write Short notes on
a. Descriptive Statistics
b. Measurement Scales
c. Editing of Data
d. Frequency Distribution
e. bar diagram
a.
Descriptive
Statistics: Descriptive
statistics are distinguished from inferential statistics (or inductive statistics);
Descriptive Statistics is used to present the general description of data which
is summarized quantitatively. Descriptive statistics aim to summarize a sample,
rather than use the data to learn about the population that the sample of data
is thought to represent. This is mostly useful in clinical research, while
Q2.
What do you mean by Probability?Define following basic terminologies used in
probability theory.
Definition of
Probability: The probability of an event is the measure of the chance that the
event will occur as a result of an experiment. The probability of an event A is
the number of ways event A can occur divided by the total number of possible
outcomes. Probability is a numerical measure which indicates
Q3. Define Probability Distributions. State
the assumptions and usage of Binomial Distribution and Normal Distribution.
A Probability
distribution which has the following probability mass function (p.m.f) is called
Binomial distribution.
When a Bernoulli
experiment is repeated for ‘n’ number of times, then it is called a binomial
process. Binomial
Q4. Write short notes on
a. Type I and Type II error
b. Level of Significance
c. Null Hypothesis
d. Two–tailed Tests and One–tailed Tests
e. Test Statistics
a. Type I and Type II error: type I error
For example,
making a type I error (rejecting a null hypothesis when it is true) involves
the time and trouble of reworking a batch of chemicals that should have been
accepted. At the same time, making a type II error (accepting a null hypothesis
when it is false) means taking a chance that an entire group of users of this
Q5.
Explain the concept of Chi-Square.
Following table depicts the production in three shifts and the number of
defective goods that turned out in three weeks in an organization. Test at 5%
level of significance whether weeks and shifts are independent.
|
Shift
|
WEEK 1
|
WEEK 2
|
WEEK 3
|
|
I
|
15
|
5
|
20
|
|
II
|
20
|
10
|
20
|
|
III
|
25
|
15
|
20
|
Solution:
|
Shift
|
1st Week
|
2nd Week
|
3rd Week
|
Total
|
|
I
|
15
|
5
|
20
|
40
|
|
II
|
20
|
10
|
20
|
50
|
|
III
|
25
|
15
|
20
|
60
|
|
Total
|
60
|
30
|
60
|
150
|
Q6.Case Study –
The
following table gives the weekly sales of black &color cartridges by a
computer accessories store for the past 7 weeks.
Weekly
Sales of Cartridges
|
Black
Cartridges
|
Colour
Cartridges
|
||
|
Week
|
Sales
|
Week
|
Sales
|
|
1
|
60
|
1
|
67
|
|
2
|
50
|
2
|
57
|
|
3
|
70
|
3
|
47
|
|
4
|
60
|
4
|
50
|
|
5
|
50
|
5
|
60
|
|
6
|
55
|
6
|
70
|
|
7
|
45
|
7
|
60
|
Prepare a weekly forecast for the
next 5 weeks for both types of cartridges. Justify the methodused.
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we will revert you within 2-3 hour or immediate
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