Professional Documents
Culture Documents
Program
Semester
Subject code &
name
Book ID
Q
1
Fall 2014
MBAFLEX
1
MB0040 STATISTICS FOR MANAGEMENT
B1731
Statistics plays a vital role in almost every facet of human life. Describe the
functions
of Statistics. Explain the applications of statistics.
Meaning of statistics
Functions of statistics
Applications of statistics
An
s.
Q
2
An
s
3)Subjective approach
Under this approach the investigator or researcher assigns probability to the
events either from his experience or from past records. It is more suitable
when a sample size is ten or less than ten. The investigator has full knowledge
above the characteristics of each and every individual. However there is a
chance of personal bias being introduced in such probability.
4) Axiomatic approach
Let S be a sample space consisiting of all events of a random experiment and
AS, then the probability of an event A is a set function satisfying following
axioms:
i)
Axioms of positivity, P(A)0
ii)
Axiom of cetainity, P(S)=1
iii)
Axiom of addition,
n
i=1 Ai
P ( ) = P ( Ai )
where
A1 ,
A 2 ,... A n
are
i=1
BC
AB
iv) If A , A, A .............,
An
P(A A ..............
Multiplication rule
Q3
An
s
z-statistic
R:|z|>|
t-statistic
R:|t|>|
R:z<
R:t<
R:z>
R:t>
z table |
z table
z table
t table |
t table
t table
straight line, then it is called a trend line. If the variable increases over a long
period of time, then it is called an upwardtrend. If the variable decreases over
a long period of time, then it is called an downward trend. If the variable
moves upward or downward along a straight line the the trend is called a
linear trend, otherwise it is called a non-linear trend.
ii)Seasonal variations
Variations in a time series that are periodic in nature and occur regularly over
short periods of time during a year are called seasonal variations. These
variations are precise and can be forecasted.
The following are examples of seasonal variations in a time series.
i.The prices of vegetables dop down after rainy season or in winter months and
they go up during summer, every year.
ii. The prices of cokking oils reduce after the harvesting of oil seeds and go up
after some time.
iii)Cyclic variations
The long-term oscillations that represent consistent ris and decline in the
values of the vriable are called cyclic variations. Since these are long-term
oscillations in the time series, the period of oscillation is usually greater than
one year. The oscillations are either a trend curve or a trend line. The period of
one cycle is the time-distance between two successive peaks or two
successive troughs.
iv)Random variations
Random variations are called irregular movements. Movements that occur
usually in brief periods of time, without any pattern and which are
unpredictable in nature are called irregular movements.these movements do
not have any regular period or time of occurences. For example, the effect of
national strikes, floods, earthquakes, etc. it is very difficult to study the
behaviour of such a time series.
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
An
s
Chi-square test
The Chi-square testvis one of the most commonly used non-parametric tests in
statistical work. The Greek Letter is used to denote ths test. describe the
magnitude of discrepancy between the observed and the expected
frequencies. The value of is calculated as:
OiE
O1E
where, O, O, O....
On
O2E
O3E
+.........+
OnE
En
An
s
Q6
An
s
Test the hypothesis at 5% level that the population means are equal.
Let H: There is no significant difference in the meansof three samples
8
10
7
14
11
7
5
10
9
9
12
9
13
12
14
X = 50
X = 40
X =
60
T
150
N = 15 = 1500
T
N
( X )
SSC = [
n
( Xn)
nn
50
= 5
( X )
n
( X )
n
( X )
n
+ ,,,,,,,, +
T
N ]
+
40
5
60
5
MSE =
SSE
(n k)
60
(15 3)
=5