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Master of Business Administration- MBA Semester 1 Spring 2015

MB0040 Statistics for Management
Q1. Distinguish between Classification and Tabulation. Explain the structure and
components of a Table with an example.
Answer: Classification is the process of arranging data into sequences and groups according to
their common characteristics or separating them into different but related parts
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Q2 a) Explain Arithmetic mean
(b) The mean wage is Rs. 75 per day, SD wage is Rs. 5 per day for a group of 1000 workers
and the same is Rs. 60 and Rs. 4.5 for the other group of 1500 workers. Find the mean and
standard deviation for the entire group.
Answer: a) Arithmetic mean is defined as the sum of all values divided by number of values and
is represented by XX. Arithmetic mean is also called arithmetic average. It is most commonly
used measures of central tendency

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Q3. Mr. Arun and Mr. Bhandari play a game. If Mr. Arun picks up an even number from 1
to 6, Mr. Bhandari will pay him double the amount equal to picked up number. If Mr. Arun
picks up an odd number then he has to pay amount equal to double the picked up number.
What is Mr. Aruns expectation?
Answer: Let Xi be the random variable and P(Xi) be its probability. The probabilities are
indicated in table.
Table: Required Values for Calculating Mean and Variance for the Data in
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Q4. The probability that an employee will get an occupational disease is 20%. In a firm
having five employees, what is the probability that:
i) None of the employees get the disease
ii) Exactly two will get the disease
iii) More than four will contract the disease
Answer: Let A be the event of employee contracting the disease. Given that:
P(A) = 0.2 = p
Q = 1-0.2 = 0.8
n=5

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Q5. Microsoft estimated that out of 10,000 potential software buyers, 35% wait to purchase
the new OS Windows Vista, until an upgrade has been released. After an advertising
campaign to reassure the public was released, Microsoft surveyed 3000 buyers and found
950 who are still skeptical. At 5% level of significance, can the company conclude that the

population of skeptical people had decreased?

Answer: The procedure is explained in the following steps:
1. Null hypothesis Ho: P = .35
Alternate hypothesis HA: P < 0.35

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Q6. Explain Chi-square test and the conditions for applying chi-square test.
Answer: Chi-Square tests allow us to do a lot more than just test for the quality of several
proportions. If we classify a population into several categories with respect to two attributes
(such as age and job performance)

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