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MBA SEMESTER 1 MB0040 – STATISTICS FOR MANAGEMENT- 4 Credits (Book ID: B1129) Assignment Set- 1 (60 Marks)
Note: Each question carries 10 Marks. Answer all the questions Q1. (a) What is the difference between a qualitative and quantitative variable? [5 Marks] (b) A town has 15 neighbourhoods. If you interviewed everyone living in one particular neighbourhood, would you be interviewing a population or a sample from the town? Would this be a random sample? If you had a list of everyone living in the town, called a frame, and you randomly selected 100 people from all neighbourhoods, would this a random sample? [5 Marks] Answer: (a) Qualitative data deals with meanings while quantitative data deals with numbers. Qualitative data describes properties or characteristics that are used to identify things. Quantitative data describes data in terms of quantity using the numerical figure accompanied by measurement unit. Statistics deals only with quantitative data. Statistics deals with numerical data, which can be expressed in terms of quantitative measurements. So, the qualitative phenomenon like beauty, intelligence cannot be expressed numerically and any statistical analysis cannot be directly applied on these qualitative phenomena. But Statistical techniques may be applied indirectly by first reducing the qualitative data to accurate quantitative terms. For example, the intelligence of a group of students can be studied on the basis of their marks in a particular examination. i) The number of transactions occurring in an ATM per day -- Quantitative data ii) The popular brand name in cars is Maruthi. – Qualitative data
(b) If want to do statistic in a particular area and interviewed everyone then it is called as population and if you doing statistic analysis for a town and interviewed only 15 neighborhoods then it is called for complete Answer visit www.studenthelp.tk
Q2. a) Explain the steps involved in planning of a statistical survey? [5 Marks] b) What are the merits & Demerits of Direct personal observation and Indirect Oral Interview? [5 Marks] Answer: a) The steps involved in planning of a statistical survey are: The relevance and accuracy of data obtained in a survey depends upon the care exercised in planning. A properly planned investigation can lead to best results with least cost and time. The below figure gives the explanation of steps involved in the planning stage.
The planning stage consists of the following sequence of activities. 1. Nature of the problem to be investigated should be clearly defined in an un ambiguous manner. for complete Answer visit www.studenthelp.tk
b) The merits & Demerits of Direct personal observation : In the direct personal observation method, as shown in figure, the investigator collects data by having direct contact with units of investigation. The accuracy of data depends upon the ability, training and attitude of the investigator.
Fig.: Direct personal observation
The direct personal observation method is suitable where, • The scope of investigation is narrow • Investigation is confidential and requires personal attention of the investigator • Accuracy of data is important The table shows the merits and demerits of direct personal observation method. Table: Merits and demerits of direct personal observation Merits Demerits 1. We get the original data which is more 1. This method consumes more cost. accurate and reliable. for complete Answer visit www.studenthelp.tk
5. Misinterpretation of questions can be avoided. Indirect oral interview Indirect oral interview is used when the area to be covered is large. The investigator collects the data from a third party or witness or head of institution. This method is generally used by police department in cases related to enquiries on causes of fires, thefts or murders. In this method, the investigator contacts for complete Answer visit www.studenthelp.tk Table: Merits and demerits of indirect oral interview Merits Demerits 1. Economical in terms of time, cost and 1. The degree of accuracy of information is man less. power
for complete Answer visit www.studenthelp.tk 3. Information is likely to be unbiased and reliable Q3. a) Draw Ogives from the following data and measure the median value. Verify it by actual calculations. [5 Marks] Central size Frequency 5 5 15 11 25 21 35 16 45 10
b) Complete the following distribution, if its Median is 2,600 and compute the value of Arithmetic Mean. Size Frequency Answer: a) 10001500 120 1500- 2000- 25002000 2500 3000 ? 400 500 30004000 ? 40005000 50 50006000 20 Total 1500
From the meeting point of these two ogives if we draw a perpendicular to
Q 4. a) What is the main difference between correlation analysis and regression analysis? [5 Marks] b) In a multiple regression model with 12 independent variables, what are the degrees of freedom for error? Explain? [5 Marks] Answer: a) Differences between correlation and regression coefficient: Correlation Coefficient Regression Coefficient
The correlation coefficients, rxy = The regression coefficients, byx = ryx bxy for complete Answer visit www.studenthelp.tk It indirectly helps in estimation. It is meant for estimation.
b) In Multiple regressions analysis is an extension of two variable regression analyses. In this analysis, two or more independent variables are used to estimate the values of a dependent variable, instead of one independent variable. Objectives of multiple regression analysis are: • To derive an equation, which provides estimates of the dependent variable from values of the two or more independent variables? • To obtain the measure of the error involved in using the regression equation as a basis of estimation for complete Answer visit www.studenthelp.tk and we will use “n-1” degrees of freedom, where “n” is the sample size.
Q5. a) Discuss what is meant by Quality control and quality improvement. [5 Marks] b) What are the limitations of a quality control charts? [5 Marks] Answer: a) Quality Control – is defined as the part of quality management focused on fulfilling quality requirements. Ideally, prevention based controls should prevent problems from occurring, but in reality, no system is foolproof and problems do occur. Accordingly, controls to detect quality problems must be established so that customers receive only products that meet their requirements. ISO 9000 Lead Auditor Training Detection based controls are reactive – the problem and cost have already occurred and the company is resorting to damage control. The intent of detection is to evaluate output from processes and activities by implementing controls to catch problems when they do occur. For example, final inspection to catch defective product before it gets shipped. Quality Improvement – is defined as the part of quality management focused on increasing the ability to fulfill requirements. Continual improvement results from ongoing actions taken to enhance product characteristics or increase process effectiveness and efficiency. This is one of the key characteristics that differentiate a quality management system from a quality assurance system, i.e., being able to improve the effectiveness and efficiency and of a process or activity by setting measurable objectives and using performance data to manage the achievement of these objectives. Effectiveness is defined as the extent to which planned activities are realized and planned results are achieved. In determining the effectiveness of quality assurance and quality improvement activities, the following questions should be asked:
– To what extent have problems in product or processes been prevented? – To what extent have planned objectives for quality been met? Efficiency is defined as the relationship between result achieved and resources used. The measure of efficiency is determined by asking the following: – Can we get the same output using fewer resources? – Can we get more output without adding resources? These questions may be applied to the output of any activity within the quality management system of an organization. It should be noted that ISO 9001 requires organizations to achieve QMS effectiveness through quality assurance and continual improvement activities. QMS efficiency is desirable, but not currently required by ISO 9001. ISO 9004 provides guidelines that consider both the effectiveness and efficiency of the QMS. Quality improvement actions may include: • Measuring and analyzing situations • Establishing improvement objectives • Searching for possible solutions • Evaluating these solutions • Implementing the selected solution • Measuring, verifying, and analyzing results • Formalizing the changes b) The limitations of a quality control charts: The quality control chart is based on the research of Villefredo Pareto. He found that approximately 80 percent of all wealth of Italian cities he researched was held by only 20 percent of the families. The Pareto principle has been found to apply in other areas, from economics to quality control. Pareto charts have several disadvantages, however. Easy to Make but Difficult to Troubleshoot
Based on the Pareto principle, any process improvement should focus on the 20 percent of issues that cause the majority of problems in order to have the greatest impact. However, one of the disadvantages of Pareto charts is that they provide no insight on the root causes. For example, a Pareto chart will demonstrate that half of all problems occur in shipping and receiving. Failure Modes Effect Analysis, Statistical Process Control charts, run charts and cause-and-effect charts are needed to determine the most basic reasons that the major issues identified by the Pareto chart are occurring.
Multiple Pareto Charts May Be Needed Pareto charts can show where the major problems are occurring. However, one for complete Answer visit www.studenthelp.tk
Q6. a) Suggest a more suitable average in each of the following cases: [5 Marks] (i) Average size of ready-made garments. (ii) Average marks of a student. b) State the nature of symmetry in the following cases: [5 Marks] (i) When median is greater than mean, and (ii) When Mean is greater than median. Answer: (i) Average size of ready-made garments. : Arithmetic mean will be used because it is continuous and additive in nature (ii) Average marks of a student. : Arithmetic mean will be used because it is the data are in the interval and the distribution is symmetrical. b) (i) When median is greater than mean : the data are "skewed to the left", with a long tail of low scores pulling the mean down more than the median. skewness is for complete Answer visit www.studenthelp.tk To find Mean Value: Step 1: Sum of the given set of data value is 34 + 21 + 70 + 45 + 64 + 12 = 246 Step 2: Count the given set data Here there are 6 data given. Step 3: Formula: sum of data/ number of data in set Step 4: `(246)/(6)` = 41 Hence the mean value of the data is 41
Mean: 41 To find the median value: Step 1: Arrange the given set data in ascending order. 12, 21, 34, 45, 64, 70 Step 2: Check the total number of data is odd or even. Here the given data are in even number. Step 3: Find the middle number of given set of data. Here 34 and 45 are the middle number. Step 4: Find the mean value of the two numbers. `(34+45)/(2)` = 39.5 That the median value of the given set of data is 36.5 Median: 39.5 Compare both mean and median value of the given set of data. Mean: 41 and median: 39.5 41 > 39.5 ************