STATISTICS FOR BUSINESS

MANAGEMENT
AFTERSCHO☺OL
– DEVELOPING CHANGE MAKERS
CENTRE FOR SOCIAL ENTREPRENEURSHIP
PGPSE PROGRAMME –
World’ Most Comprehensive programme in social
entrepreneurship & spiritual entrepreneurship
OPEN FOR ALL FREE FOR ALL

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 STATISTICS FOR BUSINESS
MANAGEMENT
Dr. T.K. Jain.
AFTERSCHO☺OL
Centre for social entrepreneurship
Bikaner M: 9414430763
tkjainbkn@yahoo.co.in
www.afterschool.tk, www.afterschoool.tk
www.afterschoool.tk AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS
 Mayank speaks truth in 30% cases
and Goti speaks truth in 25%
cases, what is the probability that
they will contradict?
• One of them should speak truth and the
other should lie. So :
• (Mayank is true*Goti is wrong)+(Mayank is
false*Goti is true) =
• .3*.75 + .7*.25 = .225+.175 = .4 answer.

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 There are 3 persons of the age
60,65 and 70. the survival
probabilities for these for next 5
years (till 2013) is .7, .4 and 2.
What is the probability that at least
2 of them will survive till 2013?
• Let us assume that all 3 die:
• 3*.6*.8 = .144
• Let us assume that one of them die:
• .7*.4*.8 +.7*.6*.2 + .3*.4*.2 = .332
• Let us take the case when all survive:
• .7*.4*.2 = .056 thus answer is .332+.056 =.388 answer
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 X and Y stand in a line with 6 other
persons. What is the probability
that there are 3 persons between
them?
• Let us write down all the possibilities:
• In all there are 8 persons.
• Let us put X at top position and Y at 5th
position. Similarly, take X to 2,3,4 positions.
We can reverse these positions also. Thus
there are 8 possibilities. In all X and Y have
8*7 possibilities, so 8 /56 is the answer.
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 P(A) =1/2, P(B) =1/3 P(A∩B) =1/4,
what is P(A’/B’)?
• A’ = 1-1/2 = ½
• B’ = 1-1/3 = 2/3
• P(A’∩B’) =1 – { ½ + 1/3 – ¼} = 1-7/12
=5/12
• 5/12 divided by 2/3 = 5/8 answer.

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 Nidhi, Jayati and Prateek prepare
60, 70 and 90 statements. The
probability that the statement will
contain an error is .2, .3 and .1
respectively. What is the probable
number of correct statements?
• Total number of statements = 220
• (60*.8) +(70*.7)+(90*.9) = 48+49+81=178
• Answer.

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 A bag contains 6 white and 4 red
balls. If a person draws 2 balls and
receives Rs. 10 and Rs. 20 for
white and red balls respectively, his
expected income is ?
• Both white: 6c2 / 10C2 = 15/45
• Both red : 4c2 / 10c2 = 6/45
• One white & one red = (6c1*4c1)/10c2
=24/45
• 15/45 *20 + 6/45 *40 + 24/45*30 = 28
www.afterschoool.tk AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS
 Fit a binomial distribution or mean
and standard deviations are 6 and
2 respectively?
• Mean = NP = 6
• Standard Deviation = sqrt (NPQ) = 2
• NPQ = 4
• Thus Q = 2/3
• P = 1-Q = 1-2/3 = 1/3
• N=6 *3/1 = 18
• Now prepare Bionomial distribution using
formulae : Ncr *P^r*q^(n-r)
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 Solution – binomial distribution
18c0*(1/3)^0*(2/3)^18 =.0006

18c1*(1/3)^1*(2/3)^17 .006

18c2*(1/3)^2*(2/3)^16 .025

18c3*(1/3)^3*(2/3)^15 .069

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 From 5 to 9 pm there are 4
telephone calls on an average per
minute. What is the probability that
during one particular minute, there
is no phone call?

• We have to use Poisson distribution to

solve it.
• M (average calls) = 4, X =0 (no phone
calls)
• =e^-m * m ^x / x! =( 2.71828^-4*4^0)/0!
www.afterschoool.tk AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS
• =.018316 answer.
 ABOUT AFTERSCHO☺OL
Afterschoool conducts three year integrated PGPSE (after class
12th along with IAS / CA / CS) and 18 month PGPSE (Post
Graduate Programme in Social Entrepreneurship) along with
preparation for CS / CFP / CFA /CMA / FRM. This course is also
available online also. It also conducts workshops on social
entrepreneurship in schools and colleges all over India – start
social entrepreneurship club in your institution today with the help
from afterschoool and help us in developing society.

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 Why such a programme?
• To promote people to take up entrepreneurship
and help develop the society
• To enable people to take up franchising and
other such options to start a business / social
development project
• To enable people to take up social development
as their mission
• To enable people to promote spirituality and
positive thinking in the world

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 Who are our supporters?
• Afterschoolians, our past beneficiaries,
entrepreneurs and social entrepreneurs
are supporting us.
• You can also support us – not necessarily
by money – but by being promotor of our
concept and our ideas.

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 About AFTERSCHO☺OL PGPSE – the
best programme for developing great
entrepreneurs
• Most flexible, adaptive but rigorous programme
• Available in distance learning mode
• Case study focused- latest cases
• Industry oriented practical curriculum
• Designed to make you entrepreneurs – not just an
employee
• Option to take up part time job – so earn while you learn
• The only absolutely free course on internet

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 Workshops from
AFTERSCHO☺OL
• IIF, Delhi
• CIPS, Jaipur
• ICSI Hyderabad Branch
• Gyan Vihar, Jaipur
• Apex Institute of Management, Jaipur
• Aravali Institute of Management, Jodhpur
• Xavier Institute of Management, Bhubaneshwar
• Pacific Institute, Udaipur
• Engineering College, Hyderabad

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 Flexible Specialisations:
• Spiritualising business and society
• Rural development and transformation
• HRD and Education, Social Development
• NGO and voluntary work
• Investment analysis,microfinance and inclusion
• Retail sector, BPO, KPO
• Accounting & Information system (with CA / CS /CMA)
• Hospital management and Health care
• Hospitality sector and culture and heritage
• Other sectors of high growth, high technology and social
relevance

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 Salient features:
• The only programme of its kind (in the whole world)
• No publicity and low profile course
• For those who want to achieve success in life – not just a
degree
• Flexible – you may stay for a month and continue the rest of the
education by distance mode. / you may attend weekend classes
• Scholarships for those from poor economic background
• Latest and constantly changing curriculum – keeping pace with
the time
• Placement for those who are interested
• Admissions open throughout the year
• Latest and most advanced technologies, books and study
material

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 Components
• Pedagogy curriculum and approach based on IIM Ahmedabad and ISB
Hyderabad (the founder is alumnus from IIMA & ISB Hyderabad)
• Meditation, spiritualisation, and self development
• Essential softwares for business
• Business plan, Research projects
• Participation in conferences / seminars
• Workshops on leadership, team building etc.
• Written submissions of research projects/articles / papers
• Interview of entrepreneurs, writing biographies of entrepreneurs
• Editing of journals / newsletters
• Consultancy / research projects
• Assignments, communication skill workshops
• Participation in conferences and seminars
• Group discussions, mock interviews, self development diaryng
• Mind Power Training & writing workshop (by Dr. T.K.Jain)

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 Pedagogy
• Case analysis,
• Articles from Harvard Business Review
• Quiz, seminars, workshops, games,
• Visits to entrepreneurs and industrial visits
• Presentations, Latest audio-visuals
• Group discussions and group projects
• Periodic self assessment
• Mentoring and counselling
• Study exchange programme (with institutions out of India)
• Rural development / Social welfare projects

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 Branches
• AFTERSCHO☺OL will shortly open its
branches in important cities in India
including Delhi, Kota, Mumbai, Gurgaon
and other important cities.
Afterschooolians will be responsible for
managing and developing these branches
– and for promoting social entrepreneurs.

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 Case Studies
• We want to write case studies on social
entrepreneurs, first generation
entrepreneurs, ethical entrepreneurs.
Please help us in this process. Help us to
be in touch with entrepreneurs, so that we
may develop entrepreneurs.

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Basic values at AFTERSCHO☺OL
• Share to learn more
• Interact to develop yourself
• Fear is your worst enemy
• Make mistakes to learn
• Study & discuss in a group
• Criticism is the healthy route to mutual support and
help
• Ask fundamental questions : why, when, how &
where?
• Embrace change – and compete with yourself only

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 www.afterschoool.tk
social entrepreneurship for better
society

www.afterschoool.tk AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS