Explain the characteristic of business forecasting…

Statistics is the backbone of decision-making’. Comment. [ 5 marks] (b) Give plural meaning of the word Statistics? [ 5 marks] 2. a. In a bivariate data on ‘x’ and ‘y’, variance of ‘x’ = 49, variance of ‘y’ = 9 and covariance (?x,y) = -17.5. Find coefficient of correlation between ‘x’ and ‘y’. [ 5 marks] b. Enumerate the factors which should be kept in mind for proper planning. [ 5 marks] 3. The percentage sugar content of Tobacco in two samples was represented in table 11.11. Test whether their population variances are same. [ 10 marks] Table 1. Percentage sugar content of Tobacco in two samples Sample A 2.4 2.7 2.6 2.1 2.5 Sample B 2.7 3.0 2.8 3.1 2.2 3.6 4. a. Explain the characteristics of business forecasting. [ 5 marks] b. Differentiate between prediction, projection and forecasting. [ 5 marks] 5. What are the components of time series? Bring out the significance of moving average in analysing a time series and point out its limitations. [ 10 marks] 6. List down various measures of central tendency and explain the difference between them? [ 5 marks] b. What is a confidence interval, and why it is useful? What is a confidence level? [ 5 marks] Fall 2011- August drive 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. (a) What are the characteristics of a good measure of central tendency? [ 5 marks] (b) What are the uses of averages? [ 5 marks] 2. Calculate the 3 yearly and 5 yearly averages of the data in table below. [ 10 marks] Table 1: Production data from 1988 to 1997 Year 1988 198 9 199 0 199 1 1992 1993 1994 1995 1996 199 7 Productio n (in Lakh ton) 15 18 16 22 19 24 20 28 22 30 3. (a) What is meant by secular trend? Discuss any two methods of isolating trend values in a time series. [ 5 Marks] (b)What is seasonal variation of a time series? Describe the various methods you know to evaluate it and examine their relative merits. [ 5 marks] 4. The probability that a contractor will get an electrical job is 0.8, he will get a plumbing job is 0.6 and he will get both 0.48. What is the probability that he get at least one? Is the probabilities of getting electrical and plumbing job are independent? [ 10 marks] 5. (a) Discuss the errors that arise in statistical survey. [ 5 marks] (b) What is quota sampling and when do we use it? [ 5 marks] Fall 2011- August drive 6. (a) Why do we use a chi-square test? [ 5 marks] (b) Why do we use analysis of variance?

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