 COLLEGE OF COMMERCCE AND BUSINESS ADMINISTRATION

 Department of Logistics and Supply Chain Management

 Assignment OF MANAGERIAL STATISTICS FOR 2ND YEAR LSCM
SECTION A

NAME EFRAM BERHANU

ID.NO 414/11

SUBMISSION DATE:- MAY/22/ 2020

SUBMITTED TO:- DR.HAFZ.W
1. HOW IS STATISTICS IMPORTANT IN YOUR LIFE?
 Statistics is very important in our daily life. Statistics form an
evidence base for decision making and helps identify issues
 and opportunities, develop options and recommendation,
monitor progress, evaluate outcomes and understand the
world. for example, for me as a student if I want to conduct
a research I must be knowledgeable about the statistical
procedures used in studies. Since statistical procedures are
basic to all research, I need to be able to design experiments
; collect ,organize, analyze, and summarize data and a
possibly make reliable predictions or forecasts for future
use.
2. What are different topics which are studied in statistics?
 There are different topics which are studied in statistics.
 For example :-
 probability definitions and properties
 discrete and continuous distribution
 conditional probability
 random variables ,expectation variables.
3. What are the different methods of data collection?
 Data collection:- refers to the methods used in gathering the
required information from the units under investigation.
 The quality of data affects the final outputs of an investigation.
Since , utmost care should be attached to the data collection
process and every possible precaution should be taken to
ensure accuracy while collecting data. Otherwise , with
inaccurate and inadequate data the whole analysis is likely to
be faulty and also the decisions to be taken will also be
misleading.
 Statistical data may be obtained either from primary or
secondary source. Then we can use different methods to
 collect data. For example:- to collect from primary sources, we
can use:-
 personal enquiry methods
 direct observation methods
 questionnaire methods

to collect from secondary sources we can use

 census and survey reports

 books
 official records
 reported experimental results
 previous research papers
 magazines, newspapers
 websites, and other publications.

4. Comments on sampling methods with suitable examples.

 Sampling methods:- are the ways to choose people
from the population to be considered in a sample survey.
Random sampling:- in this case each individual is
chosen entirely by chance and each members of the
population has an equal chance of being selected
without any criteria.
For instance:- suppose a population consists of 92
students of LSCM 2nd year in AMU sawla campus. The
chance of a sample of 10 students being chosen
equally is to first write the name of each students in a
small slip of paper and deposit all of the slips in a box.
After they have been mixed ,the selection is made by
drawing a slip out of the box without looking at it until
the sample size of 10 students is chosen.
Systematic sampling:- if M represents the populations
and N represents sample size every Mth/Nth item has to
be chosen. For example if the M = 200 and n = 20
200/20=10 then every 10th,20th,30th,.. item can be chosen.
Stratified sampling :- subjects are selected by dividing
the population into groups( strata) and subjects within
groups are randomly selected.
For instance:- suppose 6 students needed to be
selected from 48 students by using stratified sampling
method,1st we should divide 48 students into 6 groups
of 8 students and 2nd we choose 6 students randomly
from each group.
Cluster sampling:- subjects are selected by using an
intact group that is representative of the population.
For example :- depending upon above example we can
choose one group from six of the that we think it
represent the population(48 students).