Mb0040 statistics management

Statistics plays a vital role in almost every facet of human life. Describe the functions of Statistics. Explain the applications of statistics?

Mb0040 statistics management

B Assignment Set- 2 60 Marks Note: Each question carries 10 Marks. Answer all the questionsQues. Differentiate between Questionnaire and Schedule.

Statistical SurveyA Statistical Survey is a scientific process of collection and analysis of numerical data. A statistical survey is divided into two broad categories.

Mb0040 statistics management

ExecutionPlanning of a Statistical Survey The relevance and accuracy of data obtained in a survey depends upon the care exercised in planning. A properly planned investigation can lead to best results with least cost and time.

The planning stage consists of the following sequence of activities. Nature of the problem to be investigated should be clearly defined in an un- ambiguous manner. Objectives of investigation should be stated at the outset. Objectives could be to obtain certain estimates or to establish a theory or to verify a existing statement to find relationship between characteristics etc.

The scope of investigation has to be made clear. It refers to area to be covered, identification of units to be studied, nature of characteristics to be observed, accuracy of measurements, analytical methods, time, cost and other resources required.

Whether to use data collected from primary or secondary source should be determined in advance. The organization of investigation is the final step in the process.

It encompasses the determination of number of investigators required, their training, supervision work needed, funds required etc. Execution of Statistical Survey Control methods should be adopted at every stage of carrying out the investigation to check the accuracy, coverage, methods of measurements, analysis and interpretation.

The collected data should be edited, classified, tabulated, presented in diagrams and graphs, analyzed and interpreted. Differentiate between Questionnaire and Schedule 1. Very often information is collected through Questionnaires. The questionnaires are filled by of questions pertaining to the investigation.

They are sent to the respondents with a covering letter soliciting cooperation by giving correct information and mailing it back. The objectives of investigation are explained in the covering letter together with assurance for keeping information provided by them as confidential.

Information can be collected through schedules filled by investigator through personal contact. In order to get reliable information, the investigator should be well trained, tactful, unbiased and hard working. This method is generally adopted by research workers and other official and non-official agencies.

It covers large area of investigation. It is more economical and free from investigators bias. However it results in many non-response situations. The respondent may be illiterate. They can provide wrong information due to wrong interpretation of questions.

The information used for the investigation of the current problem and obtained from the data collected and used by some other agency or person before for his investigation is known a secondary data.Describe the functions of Statistics. Explain the applications of statistics.

Answer: Statistics is the study of how to collect, organize, analyze, and interpret numerical information from data.

MB – Statistics for Management - 4 Credits (Book ID: B) Assignment – 60 marks ===== Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of words. Each question is followed by evaluation scheme. attheheels.comtics plays a vital role in almost every facet of human life.

Statistics for management 1. Name – Vinay Aradhya attheheels.com no – Course – MBA – 1st semester. Subject code – MB – Statistics for Management.Q1 (a) Explain the characteristics of attheheels.comtics is a science which deals with the method of collecting, classifying, presenting, comparing andinterpreting the numerical data to throw light on attheheels.comtics.

3. In a management class of students’ three languages are offered as an additional subject viz. Hindi, English and Kannada. There are 28 students taking Hindi, 26 taking Hindi and 16 taking English.

There are 12 students taking both Hindi and English, 4 taking Hindi and English and 6 . MB STATISTICS FOR MANAGEMENT 1. Statistics plays a vital role in almost every facet of human life.

Describe the functions of Statistics. Explain the applications of statistics. a. Meaning of statistics The Statistics are derived from the Latin word Status which means State- a poliyical state. Aug 29,  · Inferential statistics use a random sample of data taken from a population to describe and make inferences about the population.

Inferential statistics are valuable when it is not convenient or possible to examine each member of .