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ASSIGNMENT
Note – Answer all questions. Kindly note that answers for 10 marks questions should be
approximately of 400 words. Each question is followed by evaluation scheme.
QUESTION1. Give the meaning of the word Statistics. Mention the
characteristics of Statistics.
Answer : Meaning of statistics:
The word statistics is used to give the following three meanings.
Firstly it is used in plural sense which refers to the collection of numerical data in aggregate
form relating to any field of stud e.g. statistics of births, statistics of prices, statistics of road
accidents etc.
Secondly it is used in singular sense which refers to the methods and procedures used in the
collection, analysis, interpretation of data and presently the data in various forms such as
tables, graphs, charts, diagrams
QUESTION2. a. What do you mean by Probability?
DRIVE SPRING 2017
PROGRAM MBA
SEMESTER I
SUBJECT CODE & NAME MBA 103- Statistics for Management
BK ID B1731
CERDIT 4
MARKS 60

2. Answer. 2a. Probability is a branch of mathematics that deals with calculating the likelihood of a
givenevent'soccurrence,whichisexpressedasanumberbetween1and0.Aneventwithaprobability
of 1 canbe consideredacertainty:forexample,theprobabilityof acointossresultingineither"heads"
or "tails" is 1, because there are
b.A bag contains 5 white, 6 red, 2 greenand 2 black balls. One ball is selected
at random from the bag. Find the probability that the selected ball is-
i. white
ii. non-white
iii. white or green
iv. black or red
Answer2b.
(i)Total No. of Balls = (5+
Probability of white ball = P(E) = n(E)/n(S) = 5/15 = 1/3
(ii)Total No. of Balls =
Probability of Non-white ball = P(E) = n(E)/n(S) = 10/15 = 2/3
(iii)Probability of white
Probability of white or green balls = 1/3 + 2/15 = 7/15
(iv)Total no. black
Probability of black or red balls = 2/15+6/15 = 8/15 .
QUESTION3. What Do you mean by Sampling? Describe various Probability
and Non- Probability Sampling Methods.

3. Answer3.
Sampling - In statistics, quality assurance,and survey methodology,sampling is concernedwith the
selection of a subset of individuals from withina statistical population to estimate characteristics of
the whole population. Each observation measures one or more properties (such as weight,location,
color) of observable bodies distinguished as
QUESTION4. Write short notes on
a. Type I and Type II error
Answer4a. When you do a hypothesis test,two types of errors are possible: type I and type II. The
risks of these two errors are inversely related and determined by the level of significance and the
powerfor the test.Therefore,youshoulddetermine whicherrorhas more severe consequencesfor
your situation before you
b. Level of Significance
Answer4b. In hypothesis testing, the significance level is the criterion used for rejecting the null
hypothesis.The significancelevel isusedinhypothesistestingasfollows:First,the difference between
the results of the experiment and the null hypothesis is determined. Then, assuming the null
hypothesis is true, the probability of a difference that large or larger is computed . Finally, this
probability is compared to the
c. Null Hypothesis
Answer4c. In inferential statistics, the term "null hypothesis" usually refers to a general statement
or defaultpositionthatthere isnorelationshipbetweentwomeasuredphenomena,or noassociation
among groups. Rejecting or disproving the null hypothesis—and thus concluding that there are
grounds for believing that there is a relationship between two phenomena (e.g. that a potential
treatment has a measurable effect)—is a central task in the modern practice of science, and gives a
precise criterion for rejecting a
d. Two–tailed Tests and One–tailed Tests

4. Answer4d. In statistical significance testing, a one-tailed test and a two-tailed test are alternative
waysof computingthe statistical significance of aparameterinferredfromadataset,intermsof a test
statistic. A two-tailed test is used if deviations of the estimated parameter in either direction from
some benchmark value are consideredtheoreticallypossible; in contrast, a one-tailed test is used if
only deviations in one direction are
e. Test Statistics
Answer4e. A test statistic is a standardized value that is calculated from sample data during a
hypothesis test. You can use test statistics to determine whether to reject the null hypothesis. The
teststatisticcomparesyourdata withwhat isexpectedunderthe null hypothesis.The teststatisticis
used to calculate the p-value.
QUESTION5. a. Explain The concept of One Way ANOVA
Answer5a. The one-wayANOVA comparesthe meansbetweenthe groupsyouare interestedinand
determines whether any of those means are statistically significantly different from each other.
Specifically, it tests the null hypothesis:
One-way ANOVA Null Hypothesis
b. Table givenbelow depicts the data on productionrate by five workmen on
four machines. Test whether the rate is significantly different due to workers
and machines
Answer5b.
Descriptives ( with 95 % Confidence Interval for Mean)

5. QUESTION6. a. Explain the meaning of Weighted Index Numbers.
Answer6a. Whenall commoditiesare notof equalimportance.We assignweighttoeachcommodity
relative to its importance and index number computed from these weightsis called weighted index
numbers.
b. Information of sales price per unit of different commodities for two
different years is given in following table-
Construct the Price Index taking 2010 as the base year and2016 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
Answer6b.
The computation table is as follows for getting the required price indexes –
Commodities Price Quantity 𝑃1 𝑄0 𝑃0 𝑄0 𝑃1 𝑄1 𝑃0 𝑄1

6. Dear students get fully solved assignments
Send your semester & Specialization name to our mail id :
help.mbaassignments@gmail.com
or
call us at : 08263069601