MMPC 005 IMPORTANT QUESTIONS

PROBLEM RELATED QUESTIONS

1. MEAN, MEDIAN AND MODE
2. QUARTILE DEVIATION
3. BINOMIAL, POISSON AND NORMAL DISTRIBUTION
4. Variance, standard deviation
5. Coefficient of correlation
6. Skewness
7. Testing of hypothesis (t-test, z-test, chi-square test)
8. Finding correlation coefficient using regress equation and variance

Short notes

1. Central limit theorem

2. Coefficient of variation
3. Stratified sampling
4. Systematic sampling
5. Rank correlation
6. Random variable
7. Type I and Type II error

8. What do you mean by a Statistical Hypothesis? Explain characteristics of a good hypothesis.

Elaborate the concept of the significance level and the p value of a test.
9. Describe the concept and significance of measures of central tendency. Define quantiles and
discuss how you would compute several quantiles such as quartiles, deciles and percentiles.
10. What is statistical decision theory? Describe the four different states of decision environment in
managerial applications. Which is the most prevalent state?
11. What is probability sampling and non-probability sampling? Briefly describe the four designs of
probability sampling. Major difference between probability and non-probability sampling?
12. What is stratification? How and why a sample based on stratification is more representative of
the population?