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2011

University of
Management &
technology
Waiza Waheed
Saad Saleem
Farah Zaidi

[STATISTICAL TECHNIQUES IN BUSINESS & ECONOMICS]

In statistical techniques in business and economics we study how to describe , display and
explore data using different measure of central tendency and measure of dispersions, and also
we see how to represent data in graphs. In this assignment we solve three case studies by using
these measures.

Subject: Statistical Techniques in Business & Economics


Assignment: Case studies

Submitted To: Mr.Umer Ayub


Submitted By:
Waiza Waheed 104732-114
Saad Saleem 104732Farah Zaidi 104732Program:
MBA (P)3
Section:
A

School of Business and Economics

UNIVERSITY OF MANAGEMENT &


TECHNOLOGY

Case Study (A). Century Bank


Solution:
x1= Account Balance in $
x2=Number of ATM transaction in the month
x3=Number of other Bank services used
x4=Has a debit card( 1=Yes, 0=No )
x5=Receives interest on the account ( 1=Yes, 0=No )
x6=City where banking is done

x1

x2

x3

x4

x5

x6

1756
748
1501
1831
1622
1886
740
1593
1169
2125
1554
1474
1913
1218
1006
2215
137
167
343
2557
2276
1494
2144
1995
1053
1526

13
9
10
10
14
17
6
10
6
18
12
12
6
10
12
20
7
5
7
20
15
11
17
10
8
8

4
2
1
4
6
3
3
8
4
6
6
7
5
3
4
3
2
4
2
7
4
2
3
7
4
4

0
1
0
0
0
0
0
1
0
0
1
1
0
1
0
1
0
0
0
1
1
0
0
0
1
0

1
0
0
1
1
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1
0
0
0
1

2
1
1
3
4
1
3
1
4
2
3
1
1
1
1
4
3
4
1
4
3
1
3
2
3
2

1120
1838
1746
1616
1958
634
580
1320
1675
789
1735
1784
1326
2051
1044
1885
1790
765
1645
32
1266
890
2204
2409
1338
2076
1708
2138
2375
1455
1487
1125
1989
2156
Total

8
7
11
10
6
2
4
4
6
8
12
11
16
14
7
10
11
4
6
2
11
7
14
16
14
12
13
18
12
9
8
6
12
14
618

6
5
2
4
2
7
1
5
7
4
7
5
8
4
5
6
4
3
9
0
7
1
5
8
4
5
3
5
4
5
4
4
3
5
265

1
1
0
1
1
1
0
1
1
0
0
0
0
1
1
1
0
0
0
0
0
0
0
0
1
1
1
0
0
1
1
1
0
1
26

0
1
0
1
0
0
0
0
0
0
1
0
0
0
0
1
1
0
1
0
0
1
0
0
0
0
0
1
0
1
0
0
1
0
16

3
3
2
2
2
4
1
1
2
4
3
1
3
4
1
2
3
4
4
3
4
1
2
2
2
2
1
4
2
3
4
2
2
2
144

REQUIREMENT:
1) Develop a graph or table that portrays the checking balances. What is the balance
of a typical customer? Do many customers have more than $2000 in their
accounts? Does it appear that there is a difference in the distribution of the
accounts among the four branches? Around what value do the account balances
tend to cluster?

2) Mean & Median of four branches compare the mean & the median of the four
branches. Is there a difference among the branches? Explain the difference
between the mean and the median in your report.
3) Range and standard deviation of the checking account balances. First and third
Quartile (Q1 & Q3).Determine the coefficient of skewness and indicate what it
shows.

Q1. The no of ATM transaction in the last


month
= 618 no of transactions in the last month
Q2. The no of other bank services?
= 265 no of other bank services
Q3. Whether the customer has a debit card?
= 26 peoples have the facility of debt card and remaining 34 peoples have not the
facility of debt card
Q4. Whether or not interest is paid on the checking account?
= 16 peoples have paid interest on checking account and 64 peoples are not paid
interest on checking account.

(2). Mean & median of four branches:


X2

X3

X4

X5

Mean

10.3

4.416666667

0.433333333

0.266666667

Median

10

(C).
I.

Range and standard deviation:

RANGE
S.D

X2
18

X3
9

X4
1

X5
1

X6
3

4.295444966

1.976914791

0.499717434

0.445948491

1.107753873

I.

Quartiles:

Q1=n+1(25/100)
=60+1(25/100)
=15.25
Q3=n+1(75/100)
=60+1(75/100)
=45.75
Q1
Q3

II.

X2
15.25
45.75

X3
15.25
45.75

X4
15.25
45.75

X5
15.25
45.75

X6
15.25
45.75

X4
2.603

X5
1.75038

X6
1.083

Coefficient of Skewness.

SK=3(X-bar-Median)/s.d
Sk

X2
0.209

X3
0.252

Case study (B). Wildcat Plumbing Supply, Inc.: Do we Have


Gender Differences?
Solution:
Requirements of the case:
a)
b)
c)
d)
e)

Cumulative Frequency Distribution


Several measures of location
Draw Chart (Bar char, Histogram, Line Chart)
Quartile
Summarize the Situation

a) Cumulative Frequency Distribution Table:

Yearly
Salary
less than
30
30-40
40-50
50-60
60-70
70-80
80 or more
Total

Women
(F)
2

Men
(F)
0

Mid
Point
25

FM of
Women
50

3
17
17
8
3
0
50

1
4
24
21
7
3
60

35
45
55
65
75
85

105
765
935
520
225
0
2600

FM of
Men
25
35
180
1320
1365
16875
0
19800

C.F
(women)
2

C.F
(Men)
0

5
22
39
47
50
50

1
5
29
50
57
60

b) Several measures of location


Several measures of location are mean & median
Mean of Womens salary:
Mean=FM/n
= 2600/7
Mean =371.43 Answer

Median of womens salary:


Median=Central value of Data
So,
Median=17 Answer

Mean of Mens salary:


Mean=FM/n
=19800/7
Mean=2828.57 Answer

Median of Mens salary:


Median= Central Value
So,
Median=24 Answer

C) Draw Chart (Bar char, Histogram, Line Chart)

Line Chart
30

Frequency

25

24
21

20
17

15

17
Women

10

5
0

3
1

2
0
less then 30-40
30

4
40-50

Men

3
50-60

60-70

70-80

3
0
80 or
more

Yearly Salary

Bar Chart
30
24

Frequency

25

21

20

17

17

15

Women

10
2

3
0

Men

3
0

0
less then 30-40
30

40-50

50-60

60-70

Yearly Salary

70-80

80 or
more

Histogram of WOMEN SALRAY:

Histogram
Frequency

20
15
10

17

17

8
2

Women

Less 30 up
than 30 to 40

40 up
to 50

50 up
to 60

60 up
to 70

70 up
to 80

80 or
more

Yearly Salary

Histogram of MEN SALARY:

Histogram
30
Frequency

25
20

15

24

10

5
0

21
7

Men
3

Less 30 up to 40 up to 50 up to 60 up to 70 up to 80 or
than 30
40
50
60
70
80
more

Yearly Salary

d) Quartiles:

Q1=n+1(25/100)
=7+1(25/100)

Q1=2 Answer

Q2=n+1(50/100)
=7+1(50/100)
Q2=4 Answer

Q3=n+1(75/100)
=7+1(75/100)
Q3=6 Answer

Case (C). Kimble Products: Is there a difference in the


commissions?
Solution:
Requirement of the case:
1. Write a brief report?
2. Central tendency and dispersion of the two groups

Group #1: Commissions earned by sale representatives calling

on Athletic Department.
First arranged the data

No. of Sales
representative
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23

X
Commissions
Earned
4
7
13
39
69
87
149
159
175
249
252
278
299
354
357
392
416
427
434
526
527
557
579

(xxbar)^2
669573.98
664673.33
654926.03
613519.73
567423.23
540629.33
453299.23
439933.73
418964.93
328644.23
325213.58
296235.28
273816.73
219281.48
216480.83
185136.58
165059.38
156242.33
150757.48
87778.876
87187.326
70370.826
59182.726

24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
Total

615
635
680
883
1105
1106
1168
1187
1602
1604
1676
1683
1738
2197
2321
3140
3202
32891

42962.926
35071.926
20242.176
3687.5256
79933.426
80499.876
119525.78
133024.33
607971.08
611093.98
728846.38
740847.53
838552.28
1889868.8
2246176.6
5371849.2
5663091.1
26857576

Central Tendency:
As we know that the measures of central tendency are mean , median and
mode.
So,

Mean=x/n
=32891/40

Mean= 822.275
And

Median= central value


=526+527/2

Median=526.5
And

Mode= repeating value


We have no repeating value in this group #1
So,
Mode=N/A

Measures of Dispersion of Group #1


We know that the measures of dispersions are range, variance, quartile,
deciles, and percentiles
Range= largest value- smallest value
=3202-4
Range=3198

Variance=(x-Xbar)2 /n+1
=26857576/40-1
Variance=688655.8

Quartiles:
Q1 =n+1(25/100
=40+1(25/100)
Q1=10.25
Q2=n+1(50/100)
=40+1(50/100)
Q2=20.5
Q3=n+1(75/100)
=40+1(75/100)
Q3=30.75

Percentile:
L p=n+1(P/100)
=40+1(40/100)
L p =16.4
Deciles:
D1=n+1(10/100)
=40+1(10/100)
D1=4.1
D2=n+1(30/100)
=40+1(30/100)
D2=12.3
D3=n+1(90/100)
=40+1(90/100)
D3=36.9

Group#2: Commission earned by sale representatives calling on large


retailers ($)

No. of sale
representative
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
Total

(x-Xbar)^2

12
681
719
754
758
807
850
870
886
886
899
918
934
944
1066
1083
1116
1206
1213
1244
1255
1262
1291
1294
1313
1315
1338
1448
1556
1858
31776

1096627.84
143035.24
115736.04
93147.04
90721.44
63604.84
43764.64
35796.64
29998.24
29998.24
25664.04
19937.44
15675.04
13271.04
46.24
566.44
3226.24
21550.24
23654.44
34151.04
38337.64
41127.84
53731.24
55131.04
64414.44
65433.64
77729.44
151165.44
246810.24
638081.44
3332134.8

Central Tendency:
Mean=x/n
=31776/30
Mean=1059.2

& Median= central value


So,
Median= 1074.5

And Mode=Repeating Value


So,
Mode=886

Measures of Dispersion of Group #2


Range= largest value- smallest value
=1858-12

Range= 1846
Variance=(x-Xbar)2 /n+1
= 3332134.8/30-1
variance=114901.2