ASSIGNMENT

SESSION JAN/FEB 2023

PROGRAMME MASTER OF BUSINESS ADMINISTRATION (MBA)
SEMESTER I
COURSE CODE & NAME DMBA103 - STATISTICS FOR MANAGEMENT
CREDITS 4
NUMBER OF ASSIGNMENTS, 02
CREDITS & MARKS 4 Credits, 30 Marks each

Note:
 There will be two sets of assignments for every course, and you must answer all questions
in both sets. Average of both assignments’ marks scored by you will be considered as
Internal Assessment Marks.
 Answers for 10 marks questions should be approximately of 400-500 words.
 Question Paper of Assignment Set 2 will be made available during mid semester.

A. Define statistics. Explain the importance of statistics in modern business environment with the
help of suitable examples.

B. Define statistical survey. Discuss following methods of data collection with help of example:
1. Direct Observation Method
2. Indirect Oral Investigation
3. Questionnaire
4. Schedule

C. Discuss following techniques of Sampling with help of suitable sample:

1. Quota Sampling
2. Systematic Sampling
3. Snowball Sampling
4. Cluster Sampling

D. Define Business Forecasting. Explain the steps involved in Business Forecasting.

E. What is Index number? Discuss the utility of Index numbers.
F. Discuss the concept of trend. State various methods of measuring trends.
SET 1

Q.No Assignment Set-1 Marks Total

Questions Marks
1 Define statistics. Explain the importance of statistics in modern business 2+8 10
environment with the help of suitable examples.
2. Define statistical survey. Discuss following methods of data collection 2+8 10
with help of example:
5. Direct Observation Method
6. Indirect Oral Investigation
 7. Questionnaire
8. Schedule
3. Discuss following techniques of Sampling with help of suitable sample: 2.5x4 10
1. Quota Sampling
2. Systematic Sampling
3. Snowball Sampling
4. Cluster Sampling

Q.No Assignment Set-2 Marks Total

Questions Marks
1 Define Business Forecasting. Explain the steps involved in Business 10 10
Forecasting.
2. What is Index number? Discuss the utility of Index numbers. 5+5 10
3. Discuss the concept of trend. State various methods of measuring trends. 5+5 10

A. Statistics is a branch of mathematics that deals with the collection,

analysis, interpretation, and presentation of data. It is used in a wide variety of
fields, including business, economics, social science, and natural science.

Statistics is important in the modern business environment because it can be

used to make better decisions. For example, statistics can be used to:

 Analyze market trends to identify new opportunities

 Forecast demand for products and services
 Evaluate the effectiveness of marketing campaigns
 Make decisions about pricing and production

B. A statistical survey is a method of collecting data from a population by

surveying a sample of the population. The sample is selected in a way that
ensures that it is representative of the population.

There are four main methods of data collection in statistical surveys:

1. Direct observation: This method involves observing the behavior of people or

things without interacting with them. For example, a researcher might observe
people shopping in a store to see how they make their purchase decisions.
2. Indirect oral investigation: This method involves asking people questions
about their behavior or opinions. For example, a researcher might ask people
why they chose to buy a particular product.
3. Questionnaire: This is a written survey that is given to people to complete.
Questionnaires can be used to collect a wide variety of data, including
demographic information, opinions, and behavior.
4. Schedule: This is a written survey that is administered by an interviewer.
Schedules are often used to collect more detailed information than
questionnaires.

C. Sampling is a technique used to collect data from a population by

surveying a smaller group of people, called a sample. The sample is selected
in a way that ensures that it is representative of the population.

There are four main types of sampling:

1. Quota sampling: This type of sampling involves dividing the population into
groups, called quotas, and then randomly selecting people from each group.
2. Systematic sampling: This type of sampling involves selecting every nth
person from a list of the population.
3. Snowball sampling: This type of sampling involves starting with a small group
of people and then asking them to refer the researcher to other people who
meet the criteria for the study.
4. Cluster sampling: This type of sampling involves dividing the population into
groups, called clusters, and then randomly selecting one or more clusters to
survey.

D. Business forecasting is the process of predicting future events, such as

sales, profits, and costs. Business forecasting can be used to help businesses
make better decisions about pricing, production, and marketing.

There are three main steps involved in business forecasting:

1. Data collection: The first step is to collect data about the past and present.
This data can be used to identify trends and patterns.
2. Model development: The second step is to develop a model that can be used
to predict the future. There are many different types of models that can be
used for business forecasting.
3. Forecasting: The third step is to use the model to predict the future. The
forecast should be accompanied by an assessment of the uncertainty of the
forecast.

E. An index number is a number that measures the relative change in a

variable over time. Index numbers are used to compare different time periods
or different locations.

There are many different types of index numbers. Some of the most common
types of index numbers include:

 Consumer price index (CPI): The CPI measures the change in the prices of
goods and services that are typically purchased by consumers.
 Producer price index (PPI): The PPI measures the change in the prices of
goods and services that are typically purchased by businesses.
 Employment cost index (ECI): The ECI measures the change in the cost of
labor.

F. A trend is a general tendency for something to change in a particular

direction over time. Trends can be identified by looking at historical data.

There are many different methods of measuring trends. Some of the most
common methods of measuring trends include:

 Moving averages: Moving averages are a simple way to smooth out data and
identify trends.
 Trend lines: Trend lines are a more sophisticated way to identify trends.
 Regression analysis: Regression analysis is a statistical technique that can be
used to identify the relationship between two or more variables.

Trends can be used to help businesses make better decisions about pricing,
production, and marketing. For example, if a business knows that there is a
trend towards increasing demand for a particular product, it can make
decisions about production and pricing that will help it to meet the demand.