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Fall-2013 Master of Business Administration - MBA Semester 1 MB0040Statistics for Management-4 Credits (Book ID: B1731) Assignment (60 Marks) Note: Answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme. Each Question carries 10 marks 6 X 10=60. Q1. A statistical survey is a scientific process of collection and analysis of numerical data. Explain the stages of statistical survey. Describe the various methods for collecting data in a statistical survey. Answer. 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-

Q2. Analysis of daily wages of workers in two organizations A and B yielded the following results: Organizations
A No. of workers Average daily wages (Rs) Variance 10 30 25 B 20 15 100

Obtain the average daily wages and the standard deviation of wages of all workers in the two organisations taken together. Which organisation is more equitable in regard to wages? Answer. (A) Combined Mean: So, = (10 * 30 + 20 * 15)/(10+20)

(b) Combined Standard deviation: Standard deviation for A, 1 = (25) ^ = 5. Standard deviation for B, 2 = (100) ^ = 10

Q3. A) State the addition and multiplication rules of probability giving an example of each case. B) In a bolt factory machines A, B, C manufacture 25, 35 and 40 percent of the total output. Of their total output 5, 4 and 2 percent are defective respectively. A bolt is drawn at random and is found to be defective. What are the probabilities that it was manufactured by machines A, B and C? Answer. (a) Addition rule of probability: Addition Rule 1: When two events, A and B, are mutually exclusive, the probability that A or B will occur is the sum of the probability of each event. P(A or B) = P(A) + P(B) Addition Rule 2: When two events, A and B, are non-mutually exclusive, the probability that A or B will occur is: P(A or B) = P(A) + P(B)

Q4. a. What is a Chi-square test? Point out its applications. Under what conditions is this test applicable? b. Discuss the types of measurement scales with examples. Answer. (a) A chi-squared test, also referred to as chi-square test or test, is any statistical hypothesis test in which the sampling distribution of the test statistic is a chi-squared distribution when the null hypothesis is true. Also considered a chi-squared test is a test in which this is asymptotically true, meaning that the sampling distribution (if the null hypothesis is true) can be made to approximate a chi-squared

Q5. Explain the Components of Time series. Answer. A time series is a sequence of data points, measured typically at successive points in time spaced at uniform time intervals. Examples of time series are the daily closing value of the Dow Jones Industrial Average and the annual flow volume of the Nile River at Aswan. Time series are very frequently plotted via line charts. Time series are used in statistics, signal processing, pattern recognition, econometrics, mathematical finance, weather forecasting, earthquake prediction, electroencephalography, control engineering

Q6. a. What is analysis of variance? What are the assumptions of the technique? b. Three samples below have been obtained from normal populations with equal variances. Test the hypothesis at 5% level that the population means are equal. A 8 10 7 14 11 B 7 5 10 9 9 C 12 9 13 12 14

[The table value of F at 5% level of significance for 1 = 2 and 2 = 12 is 3.88] Answer. (a) Analysis of Variance (ANOVA) is a statistical method used to test differences between two or more means. It may seem odd that the technique is called "Analysis of Variance" rather than "Analysis of Means." As you will see, the name is appropriate because inferences about means are made by analyzing variance. In ANOVA setting, the observed variance in a particular variable is partitioned into components attributable to different sources of

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