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MBA SEMESTER 1

MB0040 – STATISTICS FOR MANAGEMENT- 4 Credits


(Book ID: xxxxxxx)
Assignment Set- 1 (60 Marks)
Name R Bhavani
Roll No.

Q1. Elucidate the functions of statistics.

Statistics are the collection, organization, and interpretation of numerical data,


especially the analysis of population characteristics by inference from sampling.

(1) Statistics helps in providing a better understanding and exact description of a


phenomenon of nature.

(2) Statistical helps in proper and efficient planning of a statistical inquiry in any field
of study.

(3) Statistical helps in collecting an appropriate quantitative data.

(4) Statistics helps in presenting complex data in a suitable tabular, diagrammatic and
graphic form for an easy and clear comprehension of the data. It helps to compare
data collected from different sources.

(5) Statistics helps in understanding the nature and pattern of variability of a


phenomenon through quantitative observations. After data is collected, it is easier to
analyse the trend and tendencies in the data by using various concepts of Statistics.

(6) Statistics helps in drawing valid inference, along with a measure of their reliability
about the population parameters from the sample data.

(7) Statistics helps in simplification of complex data. Using statistics manger can
make decision more easily.

(8) Statistics analysis helps in drawing inferences on data. Statistics analysis brings
out the hidden relations between variables

(9) With the proper application of Statistics on the collected data, managers can take
effective decisions, which can increase the profits in the business.

Q2. What are the methods of statistical survey? Explain briefly.

A statistical survey is a scientific process of collection and analysis of numerical


data. Statistical survey are use to collect numerical information about units in
population. Surveys involve asking questions to individuals. Surveys of human
populations are common in government, health, social science and marketing sectors.

Stages of Statistical Survey-


Statistical surveys are categorized into two stages- Planning and Execution.

1) Planning a Statistical Survey-The relevance and accuracy of data obtained in a


survey depends upon the care exercised in planning. A properly planned investigation
can lead to best result with least cost and time.

A. Nature of the problem to investigate should be clearly defined in an unambiguous


manner.

B. Objective of investigation should be stated at the outset objectives could be to:

➢ Obtain certain estimates

➢ Establish a theory

➢ Verify an existing statement

➢Find relationship between characteristics

A. The scope of investigation has to be made clear. The scope of investigation refers
to the area to be covered, identification of units to be studied, nature of characteristics
to be observed, accuracy of measurements, analytical methods, time, cost and
Other resources required.
B. Whether to use data collected from primary or secondary source should be
determination in advance.

C. The organization of investigation I the final step in the process. It encompasses the
determination of the number of investigators required, their training, and supervision
work needed funds required.

Q3.Tabulate the following data:


Age: 20-40; 40-60;60-above
Departments: English, Hindi, Political science, History, sociology
Degree level: Graduates, Post graduates; PhD,
Total students in age group and in degree level.

AGE DEPARTMENT DEGREE


E, H, P, S, H, Socially Graduates/Post Graduate/PHD
20-40 English, History By Post Graduate
40-60 All the student Great with PhD
60-above Compulsory With the Degree

A statistical table is a systematic organization of data in Row & Column. According to prefers
Connor tabulation involves an orderly & systematic presentation of numerical data in a form
design to complain the problem under consideration.
(i) Table No:- Ist of all a table must be numbered different tables must have different no. numbers
help location of the table.
(ii) Titles:- A table must have a title, title must be written in board letters.
(iii) Head notes:- If the title of table does not give complete information. Its sample mented with
the head notes.
(iv) Stubs:- stubs are titles of the Row’s of the table
(v) Caption:- Caption is the title given to the column’s of the table.

Q4. The data given below is the distribution of employees of a business according to their
efficiency. Find the mean deviation and coefficient of mean deviation from Mean and
Median:
Efficiency Index 22-26 26-30 30-34 34-38 38-
42
Employees 25 35 15 5 2

Efficiency Employees x fx x− x f x− x ( x − median) F(x-


Index F median)
22-26 25 24 600 -4.29 107.25 8 200
26-30 35 28 980 -.29 10.15 4 140
30-34 15 32 480 3.71 55.65 0 0
34-38 5 36 180 7.71 38.55 4 20
38-42 2 40 80 11.71 23.42 8 16
82 2320 235.02 24 376

∑ fx 2320
mean = x = = = 28.29
∑f 82

∑ x−x 2.87
md from Mean = = = 0.1014
n 28.29
= 0.10

∑( x − median) 376
md from median = [ ]= =11.75
median 32
md from median 11.75
coff of md (median) = = = 0.367
median 32

Q5. What is conditional probability? Explain with an example.


Conditional probability is the probability of some event, given the occurrence of some other event.
Conditional probability is writtenP (A|B),and is read "the (conditional) probability of A, given B"
or "the probability of A under the condition B". When in a random experiment the event B is
known to have occurred, the possible outcomes of the experiment are reduced toB, and hence the
probability of the occurrence o fA is changed from the unconditional probability into the
conditional probability given B.

Two events A and B are said to be dependent when B can occur only when A is known to have
occurred or vice versa. The probabilities associated
with such event are called conditional probabilities.

The probabilities of the occurrence of the event A when the event B has already occurred is called
the conditional probability of occurrence of A given
that the event B has already occurrence and is denoted by P(A/B).
Example:-A pair of dice is rolled. If the sum of 9 has appeared, find the probability that one of the
dice shows 3.
Solution :-The equiprobable sample space consisting of 36 sample points.
The event A = The sum of the scores is 9 has four sample points (6,3), (5,4),(4,5), (3,6), and its
reduced sample space.
Under the assumption that A has happened, the event B = one of the dice
shows 3 has only two sample points, that is (B∩A) = [(3,6),(6,3)].
∴ P(B/A) = 2/4 = 1/2
Also using the formula derived above, we get P(B/A)= P( A∩ B) P( A)
∴PA∩B= n(A∩B)n(S)=236, and PA= n(A)n(S)= 436
=2/364/36=24= ½

Q6.The probability that a football player will play Eden garden is 0.6 and on
Ambedkar Stadium is 0.4. The probability that he will get knee injury when
playing in Eden is 0.07 and that in Ambedkar stadium is 0.04.What is the
probability that he would get a knee injury if he played in Eden.

1
P(E1 ) = P (E 2 ) =
2

P (E1) = 0.6 P(E2) = 0.4

A be the engree (AE1) = 0.07

P (A / E2) = -
1
× 0.4
P(A/E 2 )2 = 2
1 1
× 0.6 + × 0.7
2 2
= 0.3

MBA SEMESTER 1
MB0040 – STATISTICS FOR MANAGEMENT- 4 Credits
(Book ID: xxxxxxx)
Assignment Set- 2 (60 Marks)
Name R Bhavani
Roll No.
Q1. A random sample of 6 sachets of mustard oil was examined and two were found to be
leaking. A wholesaler receives seven hundred twenty six packs, each containing 6 sachets.
Find the expected number of packets to contain exactly one sachet leaking?
Sol.
N=6
P=2
H=4
Total no, of outones = 726
P (x =1) ⇒c (n1r) Pr q n-r
C (6, 1) P1 q5

⇒ 6 x 726 x 1
= 4356

Q2. What do you mean by errors in statistics? Mention the measures to do so.
The standard error of a method of measurement or estimation is the standard deviation of the
sampling distribution associated with the estimation method. The term may also be used to refer to
an estimate of that standard deviation, derived from a particular sample used to compute the
estimate.
For example, the sample mean is the usual estimator of a population mean. However, different
samples drawn from that same population would in general have different values of the sample
mean. The standard error of the mean (i.e., of using the sample mean as a method of estimating the
population mean) is the standard deviation of those sample means over all possible samples (of a
given size) drawn from the population. Secondly, the standard error of the mean can refer to an
estimate of that standard deviation, computed from the sample of data being analysed at the time.
The term standard error is derived[citation needed] from the fact that, as long as the estimator is
unbiased, the standard deviation of the error (the difference between the estimate and the true
value) is the same as the standard deviation of the estimates themselves; this is true since the
standard deviation of the difference between the random variable and its expected value is equal to
the standard deviation of a random variable itself.
In many practical applications, the true value of the standard deviation is usually unknown. As a
result, the term standard error is often used to refer to an estimate of this unknown quantity. In
such cases it is important to be clear about what has been done and to attempt to take proper
account of the fact that the standard error is only an estimate. Unfortunately, this is not often
possible and it may then be better to use an approach that avoids using a standard error, for
example by using maximum likelihood or a more formal approach to deriving confidence
intervals. One well-known case where a proper allowance can be made arises where the Student's
t-distribution is used to provide a confidence interval for an estimated mean or difference of
means. In other cases, the standard error may usefully be used to provide an indication of the size
of the uncertainty, but its formal or semi-formal use to provide confidence intervals or tests should
be avoided unless the sample size is at least moderately large. Here "large enough" would depend
on the particular quantities being analysed.
Q3. From a population known to have a standard deviation of 1.4, a sample of 70 individuals
is taken. The mean of this sample is found to be 6.2. Find the standard error of the mean.
Also establish an interval estimate around the sample mean using one standard deviation of
the mean.
Sol.
Standard error of mean
(i) When standard deviation of the population is know
σP
S.E. x =
N
S.E. x refers to the standard error of the mean
σ p standard deviation of the the population
N = number of observation
1.4
x=
6.2
1.4
=
2.48

⇒ 0.5645

σ sample
S .E.x =
N

70

6.2

70
= =28.22
2.48

Q4. A machine is designed so as to pack 300ml of a solution with a standard deviation of


5ml. A sample of 150 bottles when measured had a mean content of 201.3ml. Test whether
the machine is functioning properly.(use 5% level of significance)

1 1 
S .E.( P1 − P2 ) = pq  + 
 n1 n 2 

1200
P1 = = 0.6
2000

800
P2 = = 0.8
1000

x1 + x2 1200 + 800
P= = = 0.6666
n1 + n 2 2000 + 1000
q = 1 − p ⇒ 0.334
S .E( p1 − p2 ) = = 3.33 =1.824
 1 1 
0.666 × 0.334  + 
 2000 1000 

Q5. Out of 2000 people surveyed, 1200 belong to urban areas and rest to semi urban areas.
Among 1000 who visited other regions, 800 belonged to urban areas. Test at 5% level of
significance whether area and visiting other states are dependant.

x1 − x 2 n1 n2
Ε=
5 n1 + n2
x1 = 300, S1 = 5, n1 = 5
x2 =150, S2 = 201.3, n2 = 201.3

s2
4( s ) 2 + 200.3(201.3)2
5 + 201.3 − 2

⇒ 199.31

300 −150 5 × 201.3


Ε= ×
199.31 5 + 201.3
1006.5
0.752 ×
206.3

⇒ 1.6551

Q6. How is statistics useful for modern managers? Give examples and explain.
Managers need an understanding of statistics for four key reasons: to know how to properly
present and describe information; to know how to draw conclusions about large populations based
only on information obtained from samples; to know how to obtain reliable forecasts and to know
how to improve processes . These four reasons form the basis of the structure and content of
Statistics for Managers. There is not a single activity undertaken in business or in everyday life
that does not involve probability. In many cases the probabilities are consciously considered while
in others they may be subconscious. Ordering a particular level of stock for a retail outlet involves
a probability consideration of the actual demand for the products. Undertaking tertiary studies
involves probability estimations for levels of future income that a degree will produce. In the same
way, almost all business decisions depend on probability evaluation. It is important then for you to
have an understanding of probability analysis.
Having developed our basic ‘feel’ for probabilities we need to develop an understanding of the
key theoretical probability distributions. These enable us to assign probabilities of all potential
outcomes for a given situation. This work will enable us to move onto the very important
statistical concept called the sampling distribution. Many data sets for the business manager are
samples drawn from a wider population. Of interest to the manager are the conclusions that can be
drawn about the relevant population characteristic from the sample statistic. We might have some
market research that indicates that customer acceptance of a new brand is 30%. The obvious
conclusion is that 30% of all potential customers will accept the brand. However, if the sample is
not representative of the population then the results may be misleading. Even when the sample is
representative, intuitively we would not believe that exactly the same result would hold for the
population. We need to understand how samples are taken from population and what affect this
has on sample statistics such as the sample mean, sample proportion etc. We will examine
sampling theory and the resulting sampling distributions. These are probability distributions for
sampling situations.
The idea of sampling in business situations and inferential statistics as a method for drawing
conclusions about population parameters from sample statistics are both fundamental issues in
statistics. The problem with a sample, however, is error. A sample is unlikely to be an accurate
representation of the whole population but the concept of the confidence interval can be used to
cope with sample error.
1. The six sigma is the best way in managing the business which puts all the data and while using
the data and facts in order to have a better solution. This can also be use for the improvement of
the customer satisfaction, to reduce the time of the cycle, and can also reduce the defects.
a). The control chart for the product and service of Brecker Associates, Inc. First Phase
Quantifying Opportunities
Second Phase
Planning Solutions
Third Phase
Re-designing
Process
Fourth Phase
Implementing Change
Performance Data Planning Solutions
b.) The techniques in valuing are the ways that the business is using for the productivity of the
business and the process, the cost and the quality. This includes the company’s workshop on
design, marketing, quality, operations, purchasing and the personnel supplier. In this manner, the
first phase is the quantification of the opportunities of Brecker Associates Inc. which use for the
quantification and determination of the services and products that the company is producing. For
the planning solution which is the second phase is the move or the way that the company had been
notified in order to get solutions for the circumstances in the company. The designing again of the
plan is also applicable as for the improvement of the company’s services and products. The
implementation of the change is applicable after the exact analyzation and detailed outcome of the
plan. With the aide of the QFD technique, the requirements for the customer can be determined
and can also be quantified. This way, the benefits regarding the improvements had been sought
and identified and are being refined for the improvement of the services. These can also lead to the
redesign of the products which was the company’s phase 3. The redesigned of the specified
components or the processes are charged and made an additional tools and quality that had been
used for the design in the manufacture, in lean thinking, the design of the assembly, and the
reduction set-up. These phases are all dependent on the data planning solutions performance.
The processes are in control of the team which only signifies that the results are all at the hands of
the team.
c). The recommended policy is to have a keen understanding of the team towards the required
factors which can improve the performance of the products and services as benefitted to the
employees and to the company.
7. The scatter diagram of the given data is given below. Based on the graph, the data are
interrelated to one another which only show that the weight of the mails has high correlation to the
number of orders. Computing the relationship of the mails’ weight and the number of orders it will
get the value of the Pearson r or the correlation coefficient to be 0.99 and interpreted as high
correlation.
a). Using the least-square method the regression line had been notified and approximately as y =
5.55 + 32.76x. This means that the slope is 32.76 with the vertical intercept to be 5.55.
b). This means that whatever the value to be substituted in x will always depend on the slope and
to the vertical intercept so that it can get the value of y or the weight of the mails.
c). Using the regression line, substitute the value of weight of the mails in y or 500 pounds. The
value of x got is 15.0931 or $15,093.10.
d). The prediction is reliable because it use the regression line and the value that had got is near to
the least square regression line.