1 st MBA- Left Questions answer as on 29-09-2012 1. What do you mean by uncertainty risk in decision tree?

(2) Ans: Uncertainty risk in decision tree can be found when i) calculations get very complex and if many values are uncertain, ii) If many outcomes are linked. 2. What is snowball sampling?(2) Ans: Ref: Q-3, A-44, 2nd Sem. MBA(BU), E/d-2012 3. What is difference between collinear and conjoint variable? (2) Ans: Collinear is a linear relationship between two explanatory variables. Two variables are perfectly collinear if there is an exact linear relationship between the two. Whereas, conjoint variableNo idea 4. Differentiate between level of significance and confidence intervals. (2) Ans: Level of significance refers to the probability of rejecting the null hypothesis in a statistical test when it is true. Whereas, confidence interval refers to a type of interval estimate of a population parameter and is used to indicate the reliability of an estimate. Confidence intervals consist of a range of values (interval) that act as good estimates of the unknown population parameter. 5. Define ANOVA. (2) Ans: Ref: Q-17, A-100, 2nd Sem. MBA (BU), E/d-2012 6. Differentiate between parametric test and non parametric test. (8) Ans: Sl. No. 1. Parametric test Parametric is a types of inferential statistics that are concerned with population parameters. Parametric test is one that makes assumptions about the parameters of the population Non-parametric test A non-parametric test is a statistical test or procedure that requires no assumptions about the distribution of the data. Non-parametric test is one that makes no such assumptions.

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distribution(s) from which one's data are drawn. The assumed variance is homogeneous. The typical data are ratio or interval. Choosing parametric test Can draw more conclusions

The assumed variance is any type. The typical data are ordinal or nominal. Choosing a non-parametric test Simplicity; Less affected by outliers

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7. Give the rules of addition and multiplication in theory of probabilities. (4) Ans: Rule of Addition The rule of addition applies to the following situation: The probability that Event A or Event B occurs is equal to the probability that Event A occurs plus the probability that Event B occurs minus the probability that both Events A and B occur. P(A B) = P(A) + P(B) - P(A B) Rule of Multiplication The rule of multiplication applies to the situation when we want to know the probability of the intersection of two events; that is, we want to know the probability that two events (Event A and Event B) both occur. The probability that Events A and B both occur is equal to the probability that Event A occurs times the probability that Event B occurs, given that A has occurred. P(A B) = P(A) P(B|A)