mba103 spring 2018 1st sem assignment

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ASSIGNMENT DRIVE WINTER 2017
PROGRAM MBA
SEMESTER I
SUBJECT CODE & NAME MBA 103- Statistics for Management
SET-I
Q. 1 Explain the concept of inferential statistics and how it is different from Descriptive statistics
Inferential statistics
Difference between Inferential statistics Descriptive statistics 5+5=10
Answer:-
Inferential statistics:-
Inferential Statistics is used to make valid inferences from the data for effective decision making among managers or professionals. Statistical methods such as estimation, prediction and hypothesis testing come under inferential statistics. The researchers make deductions or conclusions, regarding some

Q2 Find out mean and median of following data.
Class interval 5-10 10-15 15-20 20-25 25-30 30-35 35-40 40-45 45-50
Frequency 5 4 12 14 19 17 21 8 16

Calculation of Mode 10
Answer:-

Computation of Mean
Class interval Frequency (f) Mid point (m) fm
5-10 5 7.5 37.5

Q3 List out various Characteristics of Business Forecasting. Also, elaborate the forecasting process.
Characteristics of Business Forecasting
Forecasting process 5+5=10
Answer:-
Characteristics of Business Forecasting:-
1. Based on past and present conditions
Business forecasting is based on past and present economic condition of the business. To forecast the future, various data, information and facts concerning to economic condition of business for past and present

SET-II
Q1 Elaborate the concept of Range. Salary distribution of any manufacturing unit is given below
Income in 1000 5-10 10-15 15-20 20-25 25-30
No of Employees 4 3 7 9 4

Calculate the mean salary and standard deviation.
Concept of Range.
Calculation of Mean salary
Calculation of Standard deviation. 2+4+4=10

Answer:-

Concept of Range:-
Range represents the differences between the values of the extremes. The range of any sample is the difference between the highest and the lowest values in the series.
The values in

Q2 Briefly explain the Regression analysis. How it is different from Correlation?
Regression analysis
Difference between Regression & Correlation analysis 5+5=10
Answer:-
According to M. M. Blair, Regression is defined as, the measure of the average relationship between two or more variables in terms of the original units of the data .
Regression analysis is

Q3 Write a short note on following
i. Long term trend or secular trend
ii. Seasonal variations
iii. Cyclic variations
iv. Random variations
Answer:-
i) Long term trend or secular trend
This refers to the smooth or regular long term growth or decline of the series. This movement can

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