ASSIGNMENT
DRIVE
SPRING 2017
PROGRAM
MBA
SEMESTER
I
SUBJECT CODE & NAME
MBA 103- Statistics for Management
BK ID
B1731
CREDIT & MARKS
4 CREDITS, 30 MARKS EACH
Note –The Assignment is divided into 2 sets. You have to answer all questions in both sets and submit as one document. Average of both assignments marks scored by you will be considered as your IA marks. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.
Set –I
Q.No
Criteria
Marks
Total Marks
1
Give the meaning of the word Statistics. Mention the characteristics of Statistics.
A
Meaning of Statistics
Characteristics of Statistics
4
6
10
2
a. What do you mean by Probability?
b. A bag contains 5 white, 6 red, 2 green and 2 black balls. Two balls are selected at random from the bag. Find the probability that the selected balls are-
i. White
ii. Red
A
a. What do you mean by Probability?
b. A bag contains 5 white, 6 red, 2 green and 2 black balls. Two balls are selected at random from the bag. Find the probability that the selected balls are-
i. White
ii. Red
4
3
3
10
3
What Do you mean by Sampling? Describe various Probability and Non- Probability Sampling Methods
A
Meaning of Sampling
Probability Sampling Methods
Non-Probability Sampling Methods
2
4
4
10
SET-II
1
Write short notes on
A
a. Type I and Type II error
b. Level of Significance
c. Null Hypothesis
d. Two–tailed Tests and One–tailed Tests
e. Test Statistics
a. Type I and Type II error
b. Level of Significance
c. Null Hypothesis
d. Two–tailed Tests and One–tailed Tests
e. Test Statistics
2
2
2
2
2
10
2
a. Explain The concept of One Way ANOVA.
b. Table given below depicts the data on production rate by five workmen on four machines. Test whether the rate is significantly different due to workers and machines.
Machines
Workmen
I
II
III
IV
V
1
46
48
36
35
40
2
40
42
38
40
44
3
49
54
46
48
51
4
38
45
34
35
41
A
Explanation of ANOVA
Numerical Solution
2
8
10
3
a. Explain the meaning of Weighted Index Numbers.
b. Information of sales price per unit of different commodities for two different years is given in following table-
Commodities
2010
2016
Price
Quantity
Price
Quantity
A
20
5
25
3
B
30
8
45
5
C
10
12
20
8
D
15
10
16
10
E
45
5
50
6
F
90
10
110
8
Construct the Price Index taking 2010 as the base year and 2016 as the current year by following methods.
i. Laspeyre’s Price Index
ii. Paasche’s Method
iii. Dorbish and Bowley’s method
iv. Fisher’s Ideal Index Method
A
a. Meaning of Weighted Index Numbers
b. Construction of the Price Index
i. Laspeyre’s Price Index
ii. Paasche’s Method
iii. Dorbish and Bowley’s method
iv. Fisher’s Ideal Index Method
2
2
2
2
2
10
*A-Answer
***********

© All Rights Reserved

381 views

ASSIGNMENT
DRIVE
SPRING 2017
PROGRAM
MBA
SEMESTER
I
SUBJECT CODE & NAME
MBA 103- Statistics for Management
BK ID
B1731
CREDIT & MARKS
4 CREDITS, 30 MARKS EACH
Note –The Assignment is divided into 2 sets. You have to answer all questions in both sets and submit as one document. Average of both assignments marks scored by you will be considered as your IA marks. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.
Set –I
Q.No
Criteria
Marks
Total Marks
1
Give the meaning of the word Statistics. Mention the characteristics of Statistics.
A
Meaning of Statistics
Characteristics of Statistics
4
6
10
2
a. What do you mean by Probability?
b. A bag contains 5 white, 6 red, 2 green and 2 black balls. Two balls are selected at random from the bag. Find the probability that the selected balls are-
i. White
ii. Red
A
a. What do you mean by Probability?
b. A bag contains 5 white, 6 red, 2 green and 2 black balls. Two balls are selected at random from the bag. Find the probability that the selected balls are-
i. White
ii. Red
4
3
3
10
3
What Do you mean by Sampling? Describe various Probability and Non- Probability Sampling Methods
A
Meaning of Sampling
Probability Sampling Methods
Non-Probability Sampling Methods
2
4
4
10
SET-II
1
Write short notes on
A
a. Type I and Type II error
b. Level of Significance
c. Null Hypothesis
d. Two–tailed Tests and One–tailed Tests
e. Test Statistics
a. Type I and Type II error
b. Level of Significance
c. Null Hypothesis
d. Two–tailed Tests and One–tailed Tests
e. Test Statistics
2
2
2
2
2
10
2
a. Explain The concept of One Way ANOVA.
b. Table given below depicts the data on production rate by five workmen on four machines. Test whether the rate is significantly different due to workers and machines.
Machines
Workmen
I
II
III
IV
V
1
46
48
36
35
40
2
40
42
38
40
44
3
49
54
46
48
51
4
38
45
34
35
41
A
Explanation of ANOVA
Numerical Solution
2
8
10
3
a. Explain the meaning of Weighted Index Numbers.
b. Information of sales price per unit of different commodities for two different years is given in following table-
Commodities
2010
2016
Price
Quantity
Price
Quantity
A
20
5
25
3
B
30
8
45
5
C
10
12
20
8
D
15
10
16
10
E
45
5
50
6
F
90
10
110
8
Construct the Price Index taking 2010 as the base year and 2016 as the current year by following methods.
i. Laspeyre’s Price Index
ii. Paasche’s Method
iii. Dorbish and Bowley’s method
iv. Fisher’s Ideal Index Method
A
a. Meaning of Weighted Index Numbers
b. Construction of the Price Index
i. Laspeyre’s Price Index
ii. Paasche’s Method
iii. Dorbish and Bowley’s method
iv. Fisher’s Ideal Index Method
2
2
2
2
2
10
*A-Answer
***********

© All Rights Reserved

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PROGRAM MBA

SEMESTER I

SUBJECT CODE & NAME MBA 103- Statistics for Management

BK ID B1731

CREDIT & MARKS 4 CREDITS, 30 MARKS EACH

Assignment Set- I

Q.1 Give the meaning of the word Statistics. Mention the characteristics of Statistics.

Answer:-

Definition:

Statistics is a branch 0f mathematics dealing with the c0llecti0n, analysis, interpretati0n,

presentati0n, and 0rganizati0n 0f data. In applying statistics t0, e.g., a scientific, industrial, 0r

s0cial pr0blem, it is c0nventi0nal t0 begin with a statistical p0pulati0n 0r a statistical

m0del pr0cess t0 be studied. The term Statistics has been defined in tw0 senses, i.e. in

Singular and in Plural sense.

1. In the Plural Sense

relati0n t0 each 0ther. A.L. B0wley

Statistics refers t0 the b0dy 0f technique 0r meth0d0l0gy, which has been devel0ped f0r

the c0llecti0n, presentati0n and analysis 0f quantitative data and f0r the use 0f such

data in decisi0n making. Nctt0r and Washerman

Characteristics of Statistics:

It consists of aggregates of facts- In the plural sense, statistics refers t0 data, but data

t0 be called statistics must c0nsist 0f aggregate 0f certain facts. A single and is0lated

fact 0r figure like, 60Kgs. weight 0f a student 0r the death 0f a particular pers0n 0n a

day d0es n0t am0unt t0 statistics.

It is effected by many causes- It is n0t easy t0 study the effects 0f 0ne fact0r 0nly by

ign0ring the effects 0f 0ther fact0rs. Here we have t0 g0 f0r the effects 0f all the fact0rs

0n the phen0men0n separately as well as c0llectively, because effects 0f the fact0rs

can change with change 0f place, time 0r situati0n

numerically expressed s0 that c0unting 0r measurement 0f data can be made p0ssible.

sh0uld be precise and meaningful. F0r getting reas0nable standard 0f accuracy the field

0f enquiry sh0uld n0t be very large.

that the data sh0uld be c0llected in a systematic manner. The data c0llected in a

haphazard manner will lead t0 difficulties in the pr0cess 0f analysis, and wr0ng

c0nclusi0ns.

Q.2

a. What do you mean by Probability?

b. A bag contains 5 white, 6 red, 2 green and 2 black balls. Two balls are selected at

random from the bag. Find the probability that the selected balls are-

i. White

ii. Red

Answer:-

Definition:

Probability is the measure of the likelihood that an event will occur. Probability is quantified

as a number between 0 and 1, where, loosely speaking, 0 indicates impossibility and 1 indicates

certainty. The higher the probability of an event, the more certain that the event will occur. A

simple example is the tossing of a fair (unbiased) coin. Since the coin is fair, the two outcomes

("heads" and "tails") are both equally probable; the probability of "heads" equals the probability

of "tails"; and since no other outcomes are possible, the probability of either "heads" or "tails"

is 1/2 (which could also be written as 0.5 or 50%)

In its simplest form, probability can be expressed mathematically as: the number of occurrences

of a targeted event divided by the number of occurrences plus the number of failures of

occurrences (this adds up to the total of possible outcomes):

Total Outcomes = C (15,2)= 15! / (15-2)! x2!

= 105

Favourable Outcomes= 5C2= 5! /(3! x 2!) = 10

P (W) = 2/21 Ans.

= 105

Favourable Outcomes= 6C2= 6! / (4! x 2!) = 15

Probability that selected balls are red P(R) = 15/105

P(R) = 1/7 Ans.

Q.3 What Do you mean by Sampling? Describe various Probability and Non-

Probability Sampling Methods

Answer:-

Definition:

In the Research Meth0d0l0gy, practical f0rmulati0n 0f the research is very much imp0rtant

and s0 sh0uld be d0ne very carefully with pr0per c0ncentrati0n and in the presence 0f a very

g00d guidance. But during the f0rmulati0n 0f the research 0n the practical gr0unds, 0ne tends

t0 g0 thr0ugh a large number 0f pr0blems. These pr0blems are generally related t0 the

kn0wing 0f the features 0f the universe 0r the p0pulati0n 0n the basis 0f studying the

characteristics 0f the specific part 0r s0me p0rti0n, generally called as the sample.

Acc0rding t0 Mildred Part0n, Sampling meth0d is the pr0cess 0r the meth0d 0f drawing a

definite number 0f the individuals, cases 0r the 0bservati0ns fr0m a particular universe,

selecting part 0f a t0tal gr0up f0r investigati0n.

Pr0bability sampling is based 0n the fact that every member 0f a p0pulati0n has a kn0wn and

equal chance 0f being selected

These can include assigning numbers t0 all subjects and then using a rand0m number

generat0r t0 ch00se rand0m numbers.

exclusive gr0ups and then using simple rand0m sampling t0 ch00se members fr0m

gr0ups.

Systematic Sampling- means that y0u ch00se every nth participant fr0m a c0mplete

list. F0r example, y0u c0uld ch00se every 10th pers0n listed.

Cluster Random Sampling- is a way t0 rand0mly select participants fr0m a list that

is t00 large f0r simple rand0m sampling.

Non-probability sampling

N0n-pr0bability sampling is a sampling technique where the 0dds 0f any member being

selected f0r a sample cann0t be calculated. Its the 0pp0site 0f pr0bability sampling.

F0ll0wing are types.

Convenience Sampling-as the name suggests, this inv0lves c0llecting a sample fr0m

s0mewhere c0nvenient t0 y0u.

simulate rand0mness.

Purposive Sampling- where the researcher ch00ses a sample based 0n their

kn0wledge ab0ut the p0pulati0n and the study itself.

Expert Sampling- in this meth0d, the researcher draws the sample fr0m a list 0f

experts in the field.

deliberately ch00se members s0 that all views are represented.

Modal Instance Sampling- The m0st typical members are ch0sen fr0m a set.

Quota Sampling- where the gr0ups in the sample are pr0p0rti0nal t0 the gr0ups in the

p0pulati0n.

Snowball Sampling- where research participants recruit 0ther members f0r the study.

Assignment Set II

Q.1 Write short note on following:

a. Type I and Type II error

b. Level of Significance

c. Null Hypothesis

d. Twotailed Tests and Onetailed Tests

e. Test Statistics

Answer:

a. Type I and Type II error:

Type I error- When the null hyp0thesis is true and y0u reject it, y0u make a type

I err0r. The pr0bability 0f making a type I err0r is , which is the level 0f

significance y0u set f0r y0ur hyp0thesis test.

Type II error- When the null hyp0thesis is false and y0u fail t0 reject it, y0u make

a type II err0r. The pr0bability 0f making a type II err0r is , which depends 0n the

p0wer 0f the test.

b. Level of Significance:

In c0mm0n language, the w0rd "significance" refers t0 s0mething that is extremely

useful and imp0rtant. But in statistics, "significance" means "n0t by chance" 0r

"pr0bably true". We can say that if a statistician states that s0me result is "highly

significant", then he mean by say that it might be very pr0bably true. In statistical

researches, the statistical significance test rem0ves the p0ssibility 0f a results t0 be

ar0se by chance. This all0ws the rejecti0n 0f null hyp0thesis (say H00).

In inferential statistics, the term "null hyp0thesis" is a general statement 0r default

p0siti0n that there is n0 relati0nship between tw0 measured phen0mena, 0r n0

ass0ciati0n am0ng gr0ups.[1] Rejecting 0r dispr0ving the null hyp0thesisand thus

c0ncluding that there are gr0unds f0r believing that there is a relati0nship between tw0

phen0mena. The null hyp0thesis is generally assumed t0 be true until evidence

indicates 0therwise. In statistics, it is 0ften den0ted H0 (read H-n0ught, "H-null", 0r

"H-zer0").

Two-tailed test- A tw0-tailed test is a statistical test in which the critical area 0f a

distributi0n is tw0-sided and tests whether a sample is greater than 0r less than a certain

range 0f values. If the sample being tested falls int0 either 0f the critical areas, the

alternative hyp0thesis is accepted instead 0f the null hyp0thesis.

One-tailed test- A 0ne-tailed test is a statistical test in which the critical area 0f a

distributi0n is 0ne-sided s0 that it is either greater than 0r less than a certain value, but

n0t b0th. If the sample that is being tested falls int0 the 0ne-sided critical area, the

alternative hyp0thesis will be accepted instead 0f the null hyp0thesis.

e. Test statistics:

A test statistic is a statistic used in statistical hyp0thesis testing. A hyp0thesis test is

typically specified in terms 0f a test statistic, c0nsidered as a numerical summary 0f a

data-set that reduces the data t0 0ne value that can be used t0 perf0rm the hyp0thesis

test. In general, a test statistic is selected 0r defined in such a way as t0 quantify, within

0bserved data, behavi0urs that w0uld distinguish the null fr0m the alternative

hyp0thesis, where such an alternative is prescribed.

Q.2

b. Table given below depicts the data on production rate by five workmen on four machines.

Test whether the rate is significantly different due to workers and machines.

Workmen

I II III IV V

46 48 36 35 40

40 42 38 40 44

49 54 46 48 51

38 45 34 35 41

Explanation of ANOVA Numerical Solution 2 10

8

Answer:-

One-Way ANOVA:

The 0ne-way analysis 0f variance (ANOVA) is used t0 determine whether there are any

statistically significant differences between the means 0f three 0r m0re independent (unrelated)

gr0ups. The 0ne-way ANOVA c0mpares the means between the gr0ups y0u are interested in

and determines whether any 0f th0se means are statistically significantly different fr0m each

0ther. Specifically, it tests the null hyp0thesis:

Where = gr0up mean and k = number 0f gr0ups. If, h0wever, the 0ne-way ANOVA returns

a statistically significant result, we accept the alternative hyp0thesis (HA), which is that there

are at least tw0 gr0up means that are statistically significantly different fr0m each 0ther.

Workmen

I II III IV V

Machine

1 46 48 36 35 40

2 40 42 38 40 44

3 49 54 46 48 51

4 38 45 34 35 41

Summary of Data

Workmen

I II III IV IV Total

N 4 4 4 4 4 20

Result Details

Source SS df MS

Total 629 19

Conclusion:

Here, the significance (p) value is 0.188, which is greater than 0.05, which means it is

statistically significant and there is 18% risk of concluding that a difference exists when there

is no actual difference.

Q.3

b. Information of sales price per unit of different commodities for two different years

is given in following table-

2010 2016

Commodities Price Quantity Price Quantity

A 20 5 25 3

B 30 8 45 5

C 10 12 20 8

D 15 10 16 10

E 45 5 50 6

F 90 10 110 8

Construct the Price Index taking 2010 as the base year and 2016 as the current year by

following methods.

ii. ii. Paasches Method

iii. iii. Dorbish and Bowleys method

iv. iv. Fishers Ideal Index Method

Answer:-

Weighted Index Numbers:

When all comm0dities are n0t of equal imp0rtance. We assign weight to each comm0dity

relative to its imp0rtance and index number c0mputed from these weights is called weighted

index numbers.

Fishers Ideal Index Number:

Selection of Base Year- e.g., for 1980 the base year will be 1979

acc0rding to their relative imp0rtance.

2010 2016

Commod P0 Q0 Pn Qn PnQ0 P0Q0 PnQn P0Qn

ities

A 20 5 25 3 125 100 75 60

B 30 8 45 5 360 240 225 150

C 10 12 20 8 240 120 160 80

D 15 10 16 10 160 150 160 150

E 45 5 50 6 250 225 300 270

F 90 10 110 8 1135 900 880 720

Total PnQ0=2235 P0Q0=1735 PnQn=1800 P0Qn= 1430

= (2235/1735) x 100

=128.81 Ans.

P = ( PnQn / P0Qn) x 100

= (1800/ 1430) x 100

= 125.87 Ans.

iii. Dorbish and Bowleys method

= (128.81+125.87) / 2

= 127.34 Ans.

iv. Fishers Ideal Index Method

F= (L x P)

= (128.81 x 125.87)

= 16213.314

= 127.33 Ans.

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