The various functions performed by statistics in modern times are discussed under: Probability density function b. Statistics is the study of the collection, organization, analysis, interpretation and presentation of data.

The number of questions should be less. Because he does not want to deviate significantly from 1, hours in either direction, the appropriate alternative hypothesis is H1: Good examples of ratio variables include height and weight.

Two research workers classified some people in income groups on the basis of sampling studies. None of above Less than 63 Answer: Correctness of management decisions: Three approaches to defining probability are: Our null hypothesis was: The foremost purpose of the statistics is to simplify huge collection of numerical data.

There is a time-lag between different movements, for e. Find the average weight of screws of box B. The collected data should be edited, classified, tabulated, presented in diagrams and graphs, analyzed and interpreted.

However, there is a chance of personal bias being introduced in such probhablity. More than 75 d. A policeman fires four bullets on a dacoit. Chain index number b. As you can see, in this scenario we are collecting data and making an optimum decision. Therefore we have the following rules.

What is the probability that he get at least one?. MB STATISTICS FOR MANAGEMENT 1. Statistics plays a vital role in almost every facet of human life. MB, Statistics for Management, MBA-1 The word statistics is derived from the Latin word status, which means state a political state.

3. In plural form, it stands for numerical facts per tainting to a collection of objects.

(T/F) 4. In singular form, it stands for the science of collections organization, analysis and interpretation of. 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.

michaelferrisjr.comtics plays a vital role in almost every facet of human life. MB – STATISTICS FOR MANAGEMENT- 4 Credits (Book ID: B) Assignment Set- 1 (60 Marks) ===== Note: Each question carries 10 Marks. Answer all the questions 1. (a) ‘Statistics is the backbone of decision-making’.

Comment. (b) ‘Statistics is as good as the user’. Comment. 2. Distinguish between the following with example. 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.

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 .

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