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Spring 2013Master of Business Administration- MBA Semester 1MB0040
Statistics for Management - 4 Credits(Book ID: B1731)Assignment Set - 1 (60 Marks)Note: Assignment Set -1 must be written within 6-8 pages. Answer all questions.Q1.a. Explain the characteristics of Statistics.
Answer : Statistics is the study of the collection, organization, analysis, interpretation andpresentation of data. It deals with all aspects of this, including the planning of data collection interms of the design of surveys and experiments.
Characteristics of Statistics
Aggregate of Facts
Statistics does not refer to a single
b. What are the components of Statistics? Give a brief description of each of the components.5 +5= 10 marks(200 - 250 words each)
The Four Components of Statistics and Probability:
Gathering data, whether in or out of a classroom, occurs on a daily basis. We are always observingand processing information as we go about the
Q2.Explain the objectives of Statistical Average. What are the requisites of a good average? 10marks(350-400 words)
Objectives of Averages
Averages occupy a prime place in the theory of statistical methods. That is why Bowley remarked,"Statistics is a science of averages." The following are the m ' objectives of an average:
1. Facilitates Comparison:
Q3.a. Mention the Characteristics of Chi-square test.