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ROLL NO.
DRIVE
PROGRAM
SEMESTER
SUBJECT CODE &
NAME
CREDITS
MARKS
1.
Sourav Biswas
1311005099
WINTER 2013
MBAN2
2nd
STATISTICS FOR MANAGEMENT
4
60
Tabulation
It is the basis for further analysis
It is the basis for presentation
Data is listed according to a logical sequence of
related characteristics
Age(20-40)
(40and avobe)
2.564
2.564
3.846
2.564
1.282
12.920
1.282
1.795
1.282
2.051
1.795
8.205
Table number
Table number is to identify the table for reference. When there are many tables in an analysis, then table
numbers are helpful in identifying the tables.
Tab 2: Title
Title indicates the scope and the nature of contents in a concise form. In other words, title of a table gives
information about the data contained in the body of the table. Title should not be lengthy.
Tab 3 and Tab 4: Captions
Captions are the headings and subheadings describing the data present in the columns.
Tab 5 and Tab 6: Stubs
Stubs are the headings and subheadings of rows.
Tab 7: Body of the table
Body of the table contains numerical information.
Tab 8: Totals
The sub-totals for each separate classification and a general total for all combined classes should be given
at the bottom or right side of the figures whose totals are taken. Ruling and spacing separate columns and
rows. However, totals are separated from main body by thick lines.
Tab 9: Head note
Head note is given below the title of the table to indicate the units of measurement of the data and is
enclosed in brackets.
Tab 10: Source note
Source note indicates the source from which data is taken. The source note related to table is placed at the
bottom on the left hand corner.
and
4/5
= 3.03
= (X- 11.35)/3.03
3.03
= (-0.775
17-11.35)
3.03
1.864)
= P (-0.775 to 0) + P( 0 to 1.864)
= .2580 + .4641
=0.7221
Kinds of Tests
Kind of test z- statistic t- statistic
Two tail test R: |z| > |ztable| R: |t| > |ttable|
Lower tail test R: z < ztable R: t < ttable
Upper tail test R: z > ztable R: t > ttable
b) Distinguish between:
i. Stratified random sampling and Systematic sampling:
Stratified random sampling- This sampling design is most appropriate if the population is
heterogeneous with respect to characteristic under study or the population distribution is
highly skewed. We subdivide the population into several groups or strata such that:
i) Units within each stratum is more homogeneous
ii) Units between strata are heterogeneous
iii) Strata do not overlap, in other words, every unit of the population belongs to one and only one stratum
Suppose the population size is N. The population units are serially numbered 1 to N in some
systematic order and we wish to draw a sample of n units. Then we divide units from 1 to N into K
groups such that each group has n units.
Judgement sampling
Convenience sampling
110
12
120
18
130
20
120
15
140
25
135
30
155
35
160
20
165
25
155
10
Ans: a)
Regression analysis:- Correlation analysis attempts to study the relationship between the two
variables X and Y. In regression, it is attempted to quantify the dependence of one variable on
the other.
Correlation analysis:- Two or more variables move in sympathy with the other, then they are
said to be correlated. If both variables move in the same direction, then they are said to be positively
correlated. If the variables move in the opposite direction, then they are said to be negatively correlated. If
they move haphazardly, then there is no correlation between them.
Correlation analysis
110
12
X
110
120
130
120
140
135
155
160
165
155
X=1390
120
18
130
20
Y
12
18
20
15
25
30
35
20
25
10
Y=210
120
15
XY
1320
2160
2600
1800
3500
4050
5425
3200
4125
1550
XY=29,730
140
25
135
30
155
35
X2
12100
14400
16900
1440
19600
18225
24025
25600
27225
24025
X2=1,96,5000
160
20
Y2
144
324
400
225
625
900
1225
400
625
100
Y2=4968
165
25
155
10
= 0.3985
Meaning of Business forecasting:- Business forecasting refers to the analysis of past and
present economic conditions with the object of drawing inferences about probable future business
conditions. The process of making definite estimates of future course of events is referred to as
forecasting and the figure or statements obtained from the process is known as forecast; future
course of events is rarely known.
Methods of Business forecasting:The following are the main methods of business forecasting.
1. Business barometers
2. Time series analysis
3. Extrapolation
4. Regression analysis
5. Modern econometric methods
6. Exponential smoothing method
Business Barometers
As business indices are the indicators of future conditions, they are also known as business
barometers or economic barometers.
Extrapolation
Regression analysis
The regression approach offers many valuable contributions to the solution of the forecasting
problem. It is the means by which we select from among the many possible relationships between
variables in a complex economy, which will be useful for forecasting.
Econometric techniques, which originated in the eighteenth century, have recently gained
popularity for forecasting. Econometrics refers to the application of mathematical economic theories and
statistical procedures to economic data to verify economic theorems.
This method is regarded as the best method of business forecasting as compared to other
methods. Exponential smoothing is a special kind of increasing exponential weighted average assigned to
recent observation data and is found extremely useful in short-term forecasting of inventories and sales.
Theories of Business forecasting:There are a few theories that are followed while making business forecasts.
Some of them are:
1. Sequence or time-lag theory
2. Action and reaction theory
3. Economic rhythm theory
4. Specific historical analogy
5. Cross-cut analysis theory
The basic assumption of this theory is that history repeats itself and hence assumes that all
economic and business events behave in a rhythmic order. According to this theory, the speed and time of
all business cycles are more or less the same and by using statistical and mathematical methods, a trend is
obtained which will represent a long term tendency of growth or decline.
History repeats itself is the main foundation of this theory. If conditions are the same, whatever
happened in the past under a set of circumstances is likely to happen in future also.
6. Construct Fishers Ideal Index for the given information and check whether
Fishers formula satisfies Time Reversal and Factor Reversal Tests.
Items
P0
Q0
P1
A
16
5
20
B
12
10
18
C
14
8
16
D
20
6
22
E
80
3
90
F
40
2
50
Formula of Fishers Ideal Index
Q1
6
12
10
10
5
5
P1Q0 *
P1 Q1)
( P0 Q0 *
P0 Q1)
P0
16
12
14
20
80
40
Q0
5
10
8
6
3
2
P1
20
18
16
22
90
50
Q1
6
12
10
10
5
5
P1Q0
100
180
128
132
270
100
P1Q0 =910
P1 Q1
120
216
160
220
450
250
P1 Q1=1416
P0 Q0
80
120
112
120
240
80
P0 Q0=752
P0 Q1
96
144
140
200
400
200
P0 Q1=1180
FP01=
P1Q0 *
P1 Q1)
( P0 Q0 *
P0 Q1)
910 *1416
= 1.4521 = 1.20504
752 * 1180
P0 Q1 *
( P1 Q1 *
P0 Q0) =
1180 * 752
P1 Q0)
1416 * 910
=0.8298
So, P01 * P 10 = 1.20504 * 0.8298 = 0.99995
Q01 =
Q01=
P1 Q1/
P0 Q1 * P1 Q1 )
( P0 Q0 *
P01
P0 Q0
P1 Q0)
1180 * 1416
752 * 910
P1 Q1
= 1416/ 752 = 1.8829
P0 Q0
= 1.56258
= 941.99/1135.147
So, P01
Q01 =
P1 Q1/
P0 Q0 (Proved)