Professional Documents
Culture Documents
Course MBA-Semester-1
STATISTICS FOR
Subject
MANAGEMENT
Subject Code MB0024-Set-1
Case 1
ABC Branch of XYZ Bank has decided to give 10 Lakh of loan each on long term
basis to only two of their customers (accountholders), who are businessmen of
the locality. About 20 businessmen had applied for loan in order to develop their
business further. In order to reject some of the applications (as the fund was
limited), the Bank decided that accountholder who had maintained a minimum
balance of 50000 INR would only be considered for the loan. As a result, 10
applications were automatically rejected as they were not satisfying the
requirement of minimum balance. Now, the 10 applications remained and it was
found that monthly minimum balance in all the cases were more than 50000 INR
for the last 12 months. Their account details of monthly minimum balance are
given below.
A/C A/C A/C A/C A/C A/C A/C A/C A/C A/C
Holde Hold Holder Holde Hold Hold Holde Holde Holde Holde
r1 er 2 3 r4 er 5 er 6 r7 r8 r9 r 10
Jan, 60000 5600 66000 86000 5600 5900 59000 52000 53000 56000
2008 0 0 0
Feb, 70000 7600 74000 96000 7600 9600 78000 73000 98000 76000
2008 0 0 0
Mar, 55000 1100 112000 19000 1100 1200 11500 11200 11300 12000
2008 00 0 00 00 0 0 0 0
Apr, 90000 8900 90000 98000 8900 9700 87000 93000 66000 89000
2008 0 0 0
May, 56000 8800 84000 84000 8800 9800 90000 89000 87000 86000
2008 0 0 0
Jun, 80000 5200 57000 57000 5200 5700 55000 54000 59000 72000
2008 0 0 0
Jul, 82000 5800 96000 66000 5800 5600 86000 55000 98000 98000
2008 0 0 0
Aug, 79000 9500 55000 93000 9500 9800 99000 96000 59000 95000
2008 0 0 0
Sept, 51000 8600 76000 74000 8600 8800 89000 97000 87000 84000
2008 0 0 0
Oct, 95000 9000 95000 99000 9000 9900 95000 99000 95000 90000
2008 0 0 0
Nov, 82000 8200 87000 84000 8200 8800 87000 88000 86000 82000
2008 0 0 0
Dec, 83000 5500 56000 57000 5500 5900 59000 59000 52000 53000
2008 0 0 0
You as an Assistant Branch Manager of the Bank are entrusted the task of
selecting two account holders for sanctioning the loans. How you will select the
two individuals among the 10 applicants to give the loan using appropriate
statistical techniques? Give proper justification for your selection.
Ans.
Am= ∑x/n
√∑(x-x-)2
η-1
4.Convert z variable into probabilities and select two a/c holder with the
highest probability
So by these assumptions and justifications ,we can give loan to the a/c
holders with highest probability. They are
Course MBA-Semester-1
STATISTICS FOR
Subject
MANAGEMENT
Subject Code MB0024-Set-2
1. What do you mean by sample survey? What are the different
sampling methods? Briefly describe them.
Ans .
Sampling Methods
Sampling methods are classified as either probability or non
probability. In probability samples, each member of the population has a
known non-zero probability of being selected. Probability methods include
random sampling, systematic sampling, and stratified sampling. In non
probability sampling, members are selected from the population in some
nonrandom manner. These include convenience sampling, judgment
sampling, quota sampling, and snowball sampling. The advantage of
probability sampling is that sampling error can be calculated.
Ans.
Subjective Methods
Sales Force Composites
Customer Surveys
Jury of Executive Opinions
Delphi Method
Quantitative Methods
Exponential smoothing family
Moving Averages
Advantages:
1. Data requirements are small.
2. Better than using a simple arithmetic mean because it can be
adjusted to reflect the observable patterns in the data.
Disadvantages:
1. The past n sample observations must be available.
2. Equal weights are given to all past observations and no weight
is given to observations earlier than period t-n+1.
3. Assumes that the data has a stationary distribution (not always true ).
Ans.
Characteristics of Statistics
Functions of Statistics
Ans.
1. A justification for the survey, including the rationale for the survey,
relationship to prior surveys, survey goals and objectives (including priorities
within these goals and objectives), hypotheses to be tested, and definitions
of key variables. Consultations with potential users to identify their
requirements and expectations are also important at this stage of the
planning process.
2. A review of related studies, surveys, and reports of Federal and non-
Federal sources to ensure that part or all of the survey would not
unnecessarily duplicate available data from an existing source, or could not
be more appropriately obtained by adding questions to existing Federal
statistical surveys.
3. A review of all survey data items, the justification for each item, and how
each item can best be measured (e.g., through questionnaires, tests, or
administrative records). Agencies should assemble reasonable evidence that
these items are valid and can be measured both accurately and reliably, or
develop a plan for testing these items to assess their accuracy and reliability.
5. A plan for pre-testing the survey or survey system, if applicable
6. A plan for quality assurance during each phase of the survey process to
permit monitoring and assessing performance during implementation. The
plan should include contingencies to modify the survey procedures if design
parameters appear unlikely to meet expectations (for example, if low
response rates are likely). The plan should also contain general specifications
for an internal project management system that identifies critical activities
and key milestones of the survey that will be monitored, and the time
relationships among them.
7. A plan for evaluating survey procedures, results, and measurement error
8. An analysis plan that identifies analysis issues, objectives, key variables,
minimum substantively significant effect sizes, and proposed statistical tests.
9. An estimate of resources and target completion dates needed for the
survey cycle.
10. A dissemination plan that identifies target audiences, proposed major
information products, and the timing of their release.
Statistical Data:
A sequence of observation, made on a set of objects included in the
sample drawn from population is known as statistical data.
Collection of Data:
The first step in any enquiry (investigation) is collection of data. The
data may be collected for the whole population or for a sample only. It is
mostly collected on sample basis. Collection of data is very difficult job. The
enumerator or investigator is the well trained person who collects the
statistical data. The respondents (information) are the persons whom the
information is collected.
Types of Data:
There are two types (sources) for the collection of data.
(1) Primary Data (2) Secondary Data
Ans.
e.
ii. Exhaustive: every unit should be allotted to one and only one class
vii. Homogeneity: Similar units are essential features of the collected data.
TABLE:
The basic structure of a table is a set of columns and rows that contain
the data and usually contain either a row or column (or both) of headings
that organize the data. A table is generally less effective than a graph
because it only shows the data, whereas the graph shows an interpretation of
the data, which is easier for the audience to understand. When you are
presenting a table, you will need to provide the interpretation of the data for
the audience. One way to make certain cells stand out is to change the
background color of the cell or enhance the text by changing the color or
making it bolder. Column and/or row headings should be bolded to
distinguish them from the data. Most presentation software packages have a
built-in table creation tool that will serve most purposes quite well.
• To facilitate comparison