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Master of Business Administration - MBA Semester 1

MBA103 - Statistics for Management

SET-I

1 Write Short notes on following methods of classification in Statistical Survey

i. One Way Classification.
ii. Two Way Classification
iii. Manifold Classification.
A One Way Classification.
Two Way Classification
Manifold Classification.

Answer: a. One-way classification – Classification done according to a single attributes or variable is

known as one way classification.

Figure below depicts the number of students who has secured more than 60% in various sub-modules of

2 What do you mean by Statistical Averages? List various requisites of a Good Average.
A Statistical Averages.
Requisites of a Good Average.

Answer: The statistical average or simply an average refers to the measure of middle value of the data
set. The objectives

3 In a beauty contest, the ranks provided by three different judges to 10 competitors are given in
following table. Find out which pair of judges are more associated in term of same pattern for ranking
Competitors A B C D E F G H I J
Judge 1 3 4 6 7 9 8 2 10 1 5
Judge 2 4 5 6 8 7 10 1 9 2 3
Judge 3 5 7 9 8 10 6 3 4 1 2

A Calculation of Rank Correlation

Interpretation

Answer: With a view to find out the Rank Correlation between all the 3 judges we will have to find the
correlation between the following:
(i) 1st and 2nd judge
(ii) 1st and
 SET-II
1 Write short notes on
a. Type I and Type II error
b. Level of Significance
c. Null Hypothesis
d. Two–tailed Tests and One–tailed Tests
e. Test Statistics
a. Type I and Type II error
b. Level of Significance
c. Null Hypothesis
d. Two–tailed Tests and One–tailed Tests
e. Test Statistics

Answer: Type I error: Rejecting a true null hypothesis. The probability of a type I error is indicated by
alpha (α).

Type II error: Not rejecting a

2 Marks of 10 students out of 150 is given below

60, 110, 120, 135,110, 96, 145, 55, 95 & 125
What is the average marks of a class, Calculate by direct & shortcut methods?
A Calculation by Direct method
Calculation by Short cut method

Answer: Direct method

3 Production for last 7 years of XYZ ltd is given in following table

Year 2009 2010 2011 2012 2013 2014 2015
Production(in Tons) 8 12 13 17 25 22 30
Based on above data forecast the production for year 2016 & 2017.
A Fitting of straight line
Production for year 2016
Production for year 2017

Answer: The trend line can be fitted by using the method of least squares for the

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