MB0040

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Master of Business Administration MBA Semester 1st Name Roll No. Subject Subject code: Study Center

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STATISTICS FOR MANAGEMENT MB0040 set 1

MB0040 MBA SEMESTER 1 MB0040 STATISTICS FOR MANAGEMENT- 4 Credits (Book ID: B1129) Assignment Set- 1 (60 Marks) Note: Each question carries 10 Marks. Answer all the questions Q1. (a) Statistics is the backbone of decision-making. Comment. (b) Statistics is as good as the user. Comment. Answer:

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a. Due to advanced communication network, rapid changes in consumer behaviour, varied expectations of variety of consumers and new market openings, modern managers have a difficult task of making quick and appropriate decisions. Therefore, there is a need for them to depend more upon quantitative techniques like mathematical models, statistics, operations research and econometrics. Decision making is a key part of our day-to-day life. Even when we wish to purchase a television, we like to know the price, quality, durability, and maintainability of various brands and models before buying one. As you can see, in this scenario we are collecting data and making an optimum decision. In other words, we are using Statistics. Again, suppose a company wishes to introduce a new product, it has to collect data on market potential, consumer likings, availability of raw materials, feasibility of producing the product. Hence, data collection is the back-bone of any decision making process. Many organisations find themselves data-rich but poor in drawing information from it. Therefore, it is important to develop the ability to extract meaningful information from raw data to make better decisions. Statistics play an important role in this aspect. Statistics is broadly divided into two main categories. Below Figure illustrates the two categories. The two categories of Statistics are descriptive statistics and inferential statistics.

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2. Distinguish between the following with example. (a) Inclusive and Exclusive limits. (b) Continuous and discrete data. (C) Qualitative and Quantitative data (d) Class limits and class intervals. 3. In a management class of 100 students three languages are offered as an additional subject viz. Hindi, English and Kannada. There are 28 students taking Hindi, 26 taking Hindi and 16 taking English. There are 12 students taking both Hindi and English, 4 taking Hindi and English and 6 that are taking English and Kannada. In addition, we know that 2 students are taking all the three languages. i) If a student is chosen randomly, what is the probability that he/she is not taking any of these three languages? ii) If a student is chosen randomly, what is the probability that he/ she is taking exactly one language? 4. List down various measures of central tendency and explain the difference between them? 5. Define population and sampling unit for selecting a random sample in each of the following cases. a) Hundred voters from a constituency b) Twenty stocks of National Stock Exchange c) Fifty account holders of State Bank of India d) Twenty employees of Tata motors.

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6. What is a confidence interval, and why it is useful? What is a confidence level?

MBA SEMESTER 1 MB0040 STATISTICS FOR MANAGEMENT- 4 Credits (Book ID: B1129) Assignment Set- 2 (60 Marks) Note: Each question carries 10 Marks. Answer all the questions
1. What are the characteristics of a good measure of central tendency? (b) What are the uses of averages? 2. Your company has launched a new product .Your company is a reputed company with 50% market share of similar range of products. Your competitors also enter with their new products equivalent to your new product. Based on your earlier experience, you initially estimated that, your market share of the new product would be 50%. You carry out random sampling of 25 customers who have purchased the new product ad realize that only eight of them have actually purchased your product. Plan a hypothesis test to check whether you are likely to have a half of market share. 3. The upper and the lower quartile income of a group of workers are Rs 8 and Rs 3 per day respectively. Calculate the Quartile deviations and its coefficient? 4. The cost of living index number on a certain data was 200. From the base period, the percentage increases in prices wereRent Rs 60, clothing Rs 250, Fuel and Light Rs 150 and Miscellaneous Rs 120. The weights for

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different groups were food 60, Rent 16, clothing 12, Fuel and Light 8 and Miscellaneous 4. 5. Education seems to be a difficult field in which to use quality techniques. One possible outcome measures for colleges is the graduation rate (the percentage of the students matriculating who graduate on time). Would you recommend using P or R charts to examine graduation rates at a school? Would this be a good measure of Quality? 6. (a) Why do we use a chi-square test? (b) Why do we use analysis of variance?

All semester SMU MBA answers are ready with Us. Every questions answer would be well prepared in our lab with Experts (MBA Experts). So we can assure 100% Guarantee.

For getting assignments , Kindly Write or Ping: Email : kvsude@gmail.com Mob : +91 9995105420 Web: http://smumbaassignment.com