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Winter-2014
Master of Business Administration- MBA Semester 1
MB0040Statistics for Management-4 Credits
(Book ID: B1731)
Assignment (60 Marks)
Note: Answer all questions (with 300 to 400 words each) must be
written within 6-8 pages. Each Question carries 10 marks 6 X 10=60
Q1. Statistics plays a vital role in almost every facet of human life.
Describe the functions of Statistics. Explain the applications of
statistics.
Answer. Definition of Statistics
Statistics is a science which deals with the method of collecting, classifying,
presenting, comparing and interpreting the numerical data to throw light on
enquiry.
According to Horace Secrist, Statistics may be defined, as the aggregate of
facts affected to a marked extent by multiplicity of causes, numerically
expressed, enumerated or estimated according to a
Q2. a) Explain the approaches to define probability.
b) State the addition and multiplication rules of probability giving an
example of each case.
Answer: (a) Approaches to define probability
There are four approaches to define probability. They are as follows:
1) Classical / mathematical / priori approach
Under this approach the probability of an event is known before conducting the
experiment. In this case, each of possible outcomes is associated with equal
probability of occurrence and number of outcomes favourable to

Q3.a) The procedure of testing hypothesis requires a researcher to

adopt several steps. Describe in brief all such steps.
b) Explain the components of time series.
Answer. a). Hypothesis testing procedure
Having calculated appropriate z-statistic or t-statistic, to reject or accept the
null hypothesis, it is necessary to identify the rejection region with reference to
the given level of significance. If the calculated statistic is in the rejection
region, we accept the alternative hypothesis against the null hypothesis at that
level of significance. Otherwise, we accept null hypothesis at given level of
significance. Table depicts the rejection region, normally denoted by R.
Q4. a. What is a Chi-square test? Point out its applications. Under what
conditions is this test applicable? (Meaning of Chi-square test,
Applications, Conditions)
b) Discuss the types of measurement scales with examples.
Answer: a). Chi-square test
The data used in calculating a chi square statistic must be random, raw,
mutually exclusive, drawn from independent variables and be drawn from a
large enough sample. For example, the results of tossing a coin 100 times would
meet these criteria.
Application of Chi-square
Q5. Business forecasting acquires an important place in every field of
the economy. Explain the objectives and theories of Business
forecasting.
Answer: 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
Q6. a). What is analysis of variance? What are the assumptions of the
technique?
b). Three samples below have been obtained from normal populations
with equal variances. Test the hypothesis at 5% level that the
population means are equal.

Answer: (a) Analysis of variance

Analysis of Variance (ANOVA) is useful in such situations as comparing the
mileage achieved by five different brands of gasoline, testing which of four
different training methods produce the fastest learning record, or comparing the
first-year earnings of the graduates of half a dozen

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