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ASSIGNMENT DRIVE WINTER 2017
PROGRAM MBA
SEMESTER I
SUBJECT CODE & NAME MBA 103-
Statistics for Management
SET-I
Q. 1 Explain the concept of inferential
statistics and how it is different from Descriptive statistics
·
Inferential statistics
·
Difference between Inferential
statistics Descriptive statistics 5+5=10
Answer:-
Inferential statistics:-
Inferential Statistics is used to make valid
inferences from the data for effective decision making among managers or
professionals. Statistical methods such as estimation, prediction and
hypothesis testing come under inferential statistics. The researchers make
deductions or conclusions, regarding some
Q2 Find out mean and
median of following data.
|
Class
interval
|
5-10
|
10-15
|
15-20
|
20-25
|
25-30
|
30-35
|
35-40
|
40-45
|
45-50
|
|
Frequency
|
5
|
4
|
12
|
14
|
19
|
17
|
21
|
8
|
16
|
Calculation of Mode 10
Answer:-
Computation of Mean
|
Class interval
|
Frequency (f)
|
Mid point (m)
|
fm
|
|
5-10
|
5
|
7.5
|
37.5
|
Q3 List out various
Characteristics of Business Forecasting. Also, elaborate the forecasting
process.
·
Characteristics of Business
Forecasting
·
Forecasting process 5+5=10
Answer:-
Characteristics of
Business Forecasting:-
1. Based on past and
present conditions
Business
forecasting is based on past and present economic condition of the business. To
forecast the future, various data, information and facts concerning to economic
condition of business for past and present
SET-II
Q1 Elaborate the concept
of Range. Salary distribution of any manufacturing unit is given below
|
Income
in 1000
|
5-10
|
10-15
|
15-20
|
20-25
|
25-30
|
|
No
of Employees
|
4
|
3
|
7
|
9
|
4
|
Calculate the mean
salary and standard deviation.
·
Concept of Range.
·
Calculation of Mean salary
·
Calculation of Standard deviation.
2+4+4=10
Answer:-
Concept of Range:-
‘Range’
represents the differences between the values of the extremes. The range of any sample is the difference
between the highest and the lowest values in the series.
The
values in
Q2 Briefly explain the
Regression analysis. How it is different from Correlation?
·
Regression analysis
·
Difference between Regression &
Correlation analysis 5+5=10
Answer:-
According
to M. M. Blair, Regression is defined as, “the measure of the average
relationship between two or more variables in terms of the original units of
the data”.
Regression
analysis is
Q3 Write a short note on
following
i. Long term trend or
secular trend
ii. Seasonal variations
iii. Cyclic variations
iv. Random variations
Answer:-
i) Long term trend or
secular trend
This
refers to the smooth or regular long term growth or decline of the series. This
movement can
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