Mb0040-Statistics for Management

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Name : Javed Khan Roll No: 1405007904 Q.1. Distinguish between Classification and Tabulation. Explain the structure and components of a Table with an example. Ans : Classification : is the process of arranging things or data in groups or classes according to their resemblances and affinities. Classification simplifies and makes data more comprehensible and renders the data ready for statistical analysis. Classified data is tabulated in rows and columns for presentation, using various methods. Tabulation: Tabulation is a logical or systematic listing of related data in rows and columns, commonly known as tables. Common examples of data tables from our daily lives include the score card of a student, a bank statement and a project plan. Difference between classification and Tabulation Classification Tabulation It’s the basis of tabulation It’s the basis for further analysis It’s the basis for simplification It’s the basis for presentation Data is divided into groups and sub- groups on the basis of similarities and dissimilarities. Data is listed according to a logical sequence of related characteristics Structure and Components of a Table with an example

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Assignment

Transcript of Mb0040-Statistics for Management

Name : Javed KhanRoll No: 1405007904Q.1. Distinguish between Classification and Tabulation. Explain the structure and components of a Table with an example.

Ans : Classification : is the process of arranging things or data in groups or classes according to their resemblances and affinities. Classification simplifies and makes data more comprehensible and renders the data ready for statistical analysis. Classified data is tabulated in rows and columns for presentation, using various methods. Tabulation: Tabulation is a logical or systematic listing of related data in rows and columns, commonly known as tables. Common examples of data tables from our daily lives include the score card of a student, a bank statement and a project plan.Difference between classification and Tabulation

ClassificationTabulation

Its the basis of tabulationIts the basis for further analysis

Its the basis for simplificationIts the basis for presentation

Data is divided into groups and sub-groups on the basis of similarities and dissimilarities. Data is listed according to a logical sequence of related characteristics

Structure and Components of a Table with an example

Table: 1.1 Percentage of C.G employees based on their age and departments

Department

Age

20 to 40

40 and above

Accounts

2.564

1.282

Finance

2.564

1.795

Personal

3.846

1.282

Production

2.564

2.051

Marketing

1.282

1.795

Total

12.92

8.205

Source :.

a. Table number : Table numbers are helpful in identifying the tablesb. Title: Title of a table gives information about the data contained in the body of the table.

c. Captions: are the headings and subheadings describing the data present in the columns

d. Stubs: are the heading and subheading of rows

e. Body of the table: contains numerical information

f. Totals: Sub-totals for each separate classification and a general total for all combined classes should be given at the bottom or right side of the figures whose total are taken.

g. Head notes: is given below the title of the table to indicate the units of measurement of the data and is enclosed in brackets

h. Source note: indicates the source from which data is taken.

Q.2. a) Describe the characteristics of Normal probability distribution.

b) In a sample of 120 workers in a factory, the mean and standard deviation of wages were Rs. 11.35 and Rs.3.03 respectively. Find the percentage of workers getting wages between Rs.9 and Rs.17 in the whole factory assuming that the wages are normally distributed.Ans: A) The following are the characteristics of Normal probability distributionI. Normal distribution is a continuos probability distribution

II. Its probability density function is given by , III. It means and standard deviation is , where & are the parameters of the distribution.IV. It is bell-shaped curve and is symmetric about its mean.V. The mean devides the curve into two equal portionsVI. Its quartile deviation, Q.D.=2/3 VII. Its mean deviation, M.D. 4/5 VIII. The X-axis is an asymptote to the curveIX. The point of inflexion occurs at X. It is a unimodal distributionXI. Mean, median and mode coincideXII. The area under normal curve within certain limits.Ans : B) Sample = 120 workers

Mean = Rs. 11.35

Standard deviation = Rs. 3.03

% of workers getting wages between Rs. 9 & Rs. 17?2 values for normal curve between 9 & 11.35 =