## March 24, 2012

### MB0040 [STATISTICS FOR MANAGEMENT] Set1 Assignments

Semester 1
MB0040 – STATISTICS FOR MANAGEMENT
(Book ID: B1129)

Assignment Set-1 (60 Marks)
1st Sem Spring/Fall Assignments

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. (a) Inclusive and Exclusive limits.
(b) Continuous and discrete data.
(C) Qualitative and Quantitative data
(d) Class limits and class intervals.
3. In a management class of 100 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 that are taking English and Kannada. In addition, we know that 2 students are taking all the three languages.
i) If a student is chosen randomly, what is the probability that he/she is not taking any of these three languages?
ii) If a student is chosen randomly, what is the probability that he/ she is taking exactly one language?
1. List down various measures of central tendency and explain the difference between them?
2. Define population and sampling unit for selecting a random sample in each of the following cases.
a) Hundred voters from a constituency
b) Twenty stocks of National Stock Exchange
c) Fifty account holders of State Bank of India d) Twenty employees of Tata motors.
6. What is a confidence interval, and why it is useful? What is a confidence level?