MBA SEMESTER 1
MB0040 – STATISTICS FOR MANAGEMENT
Assignment Set- 1
Q1. Elucidate the functions of statistics.Answer)
Functions or Uses of Statistics
(1) Statistics helps in providing a better understanding and exact description of aphenomenon of nature.(2) Statistical helps in proper and efficient planning of a statistical inquiry in anyfield of study.(3) Statistical helps in collecting an appropriate quantitative data.(4) Statistics helps in presenting complex data in a suitable tabular, diagrammaticand graphic form for an easy and clear comprehension of the data.(5) Statistics helps in understanding the nature and pattern of variability of aphenomenon through quantitative obersevations.(6) Statistics helps in drawing valid inference, along with a measure of their reliability about the population parameters from the sample data.
Q2. What are the methods of statistical survey? Explain briefly.
Statistical surveys are used to collect quantitative information about items in apopulation. Surveys of human populations and institutions are common inpolitical polling and government, health, social science and marketing research.A survey may focus on opinions or factual information depending on its purpose,and many surveys involve administering questions to individuals. When thequestions are administered by a researcher, the survey is called a structuredinterview or a researcher-administered survey. When the questions areadministered by the respondent, the survey is referred to as a questionnaire or a