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INSTRUCTIONS FOR ASSIGNMENT SUBMISSION

1. Completed assignments must be typed and formatted neatly and soft copies should be

uploaded on or before the dates mentioned above. (September 15,2012)

2. Ensure that you answer all questions according to the marks allocated.

3. Content that has been directly copied from the Internet or the Book will NOT be

accepted.

4. Please attempt all the assignments individually and independently. Assignments that

have been copied and shared among students will be automatically rejected and

disqualified.

MBA- Semester 1

Assignment Set 1 - Marks 60 (6X10=60)

MB0040- Statistics for Management - 4 credits

Subject Code - MB0040

*** Please fill in all the details in complete and only in CAPITAL letters

BIPIN PRASADName

1205011977Registration Number

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5. Please attach correct assignments to correct subjects. Incase of any errors the student

will be marked absent for the specific subject

6. Late submissions will NOT be accepted.

7. Follow assignment format and complete all the details for each assignment individually.

8. Roll no/Registration Number found mentioned anywhere else except the place

provided, the assignments will be rejected.

9. Incase students extra details like contact number, Name found listed anywhere on this

document, the assignments will be rejected.

Note: Each question carries 10 Marks. Answer all the questions.

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Question 1- Define Statistics. What are the functions of Statistics? Distinguishbetween Primary data and Secondary data.Answer: Statistics is defined as a, Science of recording, organizing, analyzing and reporting

information in numerical (Data) for the measure something.

Different scholar have define the statistics in different

ways, according to Prof. A.C. Bouley Statistic is a science of counting, Averages, which

measures the social phenomena.There are four Components have been defined as follows:

1) Collection of Data

2) Presentation of Data

3) Analysis of Data

4) Interpretation of Data

Statistics makes effective in the decision making and it need the

skill to understand it.

Function of the Statistics: - The use of the statistics has been involved in one process.

The function of the statistic is following:

1) Statistics Simplifies mass data: The statistic help into making the data simple. The

statically data are easier to study or taking decision in survey of a town, there will be

huge amount of the data collected, which is not possible to study for a decision, but with

the help of statistic it can be interpretation will be easier.

2) Statistics makes Comparison easier: Statistic helps in the comparison of the amount of

the data. Like the data collected from the different town. It can be easily study with

statistic like the Census data of a Town can be easily study in the form of statically (In

the form of graph).

3) Statistics brings our trends and tendencies in the data: The data can be easily study or

analysis according to trends and tendencies of statistic.

4) Statistic brings out the hidden relations between variables: Statically analysis helps in

drawing inferences on data. Statically analysis brings out the hidden relations between

variables.

5) Decision making power becomes easier: after the interpretation and analysis, it is easier

to take ant decision according to result.

The different between Primary and Secondary Data is Distinguished below:

Primary Data Secondary Data

1. Data is original and thus moreaccurate and reliable

1. Data is not reliable.

2. Gathering data is expensive. 2. Gathering data is cheap.

3. Data is not easily accessible. 3. Data is easily accessible throughinternet or other resources.

4. Most of the data is homogeneous 4. Data is not homogeneous.

5. Collection of data requires moretime.

5. Collection of data requires lesstime.

6. Extra precautionary measures neednot be taken.

6. Data needs extra care.

7. Data given detailed information. 7. Data may not be adequate.

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Question 2 Draw a histogram for the following distribution:

Age 0-10 10-20 20-30 30-40 40-50

No. ofpeople

2 5 10 8 4

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Question 3 Find the (i) arithmetic mean and (ii) the median value of the following setof values: 40, 32, 24, 36, 42, 18, and 10.

Answer;

(1) Arithmetic meanThe arithmetic mean X is given by,

X = fi Xi/fiX = (40+52+24+36+42+18+10)/7

= 202/7= 28.85

Therefore, the arithmetic mean is 28.85.

(2) Arranging in ascending order, we get10, 18, 24, 32, 36, 40, 42We have n=7So, Median = 32Therefore, the median value is 32.

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Question 4 - Calculate the standard deviation of the following data:

Marks 78-80 80-82 82-84 84-86 86-88 88-90

No. ofstudents

3 15 26 23 9 4

Answer:Frequency table of data for Number of Student

Class interval Mid Value X Frequency"f"

d=X-832

fd fd2

78-80 79 3 -2 -6 12

80-82 81 15 -1 -15 15

82-84 83 26 0 0 0

84-86 85 23 1 23 2386-88 87 9 2 18 36

88-90 89 4 3 12 36

80 32 122

2

= [fd2

/N[fd/f]2 x

(C.I)2

2 = [122/80[32/80]2] X (2)2

2= [1.525-0.16] X 4 = 5.46

= (5.46)-2 = 2.336

Therefore, the standard deviation is 2.336.

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Question 5 - Explain the following terms with respect to Statistics: (i) Sample, (ii)Variable, (iii) Population.

Answer: (i) Sample - sample is a finite subset of a population. A sample is choses amongthe all people/population to estimate the characteristics of the population. It is tool which,enable us to draw conclusion about the characteristic of the population.

Population

Sample

(ii) Variable variable denotes the random outcomes of any data, which can be getchange by time or situation and may be random. There are two types of variables

(1) Discrete random variable variable is discrete when the number of possibleoutcome in a random experiment is countable.

(2) Continuous random variables Random variable is continuous when thenumber of outcomes in a random experiment is uncountable.

(iii) Population The group consisting of all the units is called universe orpopulation. There are four type of population.

1) Finite Population- a population with finite number of units.2) Infinite Population a population with finite number of units.3) Existent Population - A population of concrete object like books in the

library4) Hypothetical Population Throwing a coin infinite number of times.

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Question 6 - An unbiased coin is tossed six times. What is the probability that thetosses will result in: (i) at least four heads, and (ii) exactly two heads

Answer: Let n be the event of getting headSo from question,P= , q= , n= 6Therefore, Binomial distribution = (1/2 + 1/2)

6

(i) Probability that the at least four heads comes.

P (X4) = P (X=4) + P (X=6)

{6C4 (1/2)6-4} x (1/2)5} + {6C6 (1/2)

6-6. (1/2)6}

P (X4) = 6 x (1/2)7 + (1/2)6

= 6 x 1/128 + 1/64

= 3/64 + 1/64

= 4/64

(ii) Probability that the exactly two heads comes.

P (X=4) = 6C2 x (1/2)6-2 x (1/2)2

= 6x5/2x1) x (1/2)4 x (1/2)2

= 30/2 x 1/16 x 1/4

= 15/64