MB0040
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Master of Business Administration- MBA Semester 1 Spring 2015
MB0040 – Statistics for Management
Q1. Distinguish between Classification and Tabulation. Explain the structure and components of a Table with an example.
Answer: Classification is the process of arranging data into sequences and groups according to their common characteristics or separating them into different but related parts…
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Q2 a) Explain Arithmetic mean
(b)
The mean wage is Rs.
75 per day, SD wage is Rs.
5 per day for a group
of 1000 workers and the same is Rs.
60 and Rs.
4.5 for the other
group of 1500 workers.
Find the mean and standard deviation for the
entire group.
Answer:
a) Arithmetic
mean is defined as the sum of all values divided by number of values
and is represented by X̅.
Arithmetic mean is also called
arithmetic average.
It is most commonly used measures of central
tendency…
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Q3.
Mr. Arun and Mr. Bhandari play a game.
If Mr. Arun picks up an even
number from 1 to 6, Mr. Bhandari will pay him double the amount equal
to picked up number.
If Mr. Arun picks up an odd number then he has
to pay amount equal to double the picked up number.
What is Mr.
Arun’s expectation?
Answer:
Let Xi be the random variable and P(Xi) be its probability.
The
probabilities are indicated in table.
Table: Required Values for Calculating Mean and Variance for the Data in…
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Q4. The probability that an employee will get an occupational disease is 20%. In a firm having five employees, what is the probability that:
i) None of the employees get the disease
ii) Exactly two will get the disease
iii)
More than four will contract the disease
Answer:
Let ‘A’
be the event of employee contracting the disease.
Given that:
P(A) = 0.2 = p
Q = 1-0.2 = 0.8
n = 5
…
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Q5.
Microsoft estimated that out of 10,000 potential software buyers, 35%
wait to purchase the new OS Windows Vista, until an upgrade has been
released.
After an advertising campaign to reassure the public was
released, Microsoft surveyed 3000 buyers and found 950 who are still
skeptical.
At 5% level of significance, can the company conclude that
the population of skeptical people had decreased?
Answer:
The procedure is
explained in the following steps:
1. Null hypothesis Ho: P = .35
Alternate hypothesis HA: P < 0.35
…
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Q6. Explain Chi-square test and the conditions for applying chi-square test.
Answer:
Chi-Square tests
allow us to do a lot more than just test for the quality of several
proportions.
If we classify a population into several categories with
respect to two attributes (such as age and job performance)…
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