Smu Mb0040 2013 Assignment Solved

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  • Topic: Statistics, Chi-square distribution, Chi-square test
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Subject Name : MB0040 –Business Communication

Q 1 Explain the characteristic of statistics.

ANSWER 1

Various characteristics of statistics as summarized as under :

1. Statistics deals with an aggregate of facts. A single figure cannot be analyzed.

2. Statistics gets affected to a great extent by multiplicity of causes

The Statistics of the yield of a crop is the result of several factors, such as the fertility of soil, amount of rainfall, the quality of seed used, the quality and quantity of fertilizer used.

3. Statistics are numerically expressed

Only numerical facts can be statistically analyzed. The qualitative data such as, the categorical data cannot be called as statistics, for example, the eye color of a person or the brand name of an automobile.

4. Statistics are enumerated or estimated with required degree of accuracy

The facts have to be collected from the field or estimated (computed) with the required degree of accuracy.

5. Statistics are collected in a systematic manner

The facts should be collected according to planned and scientific methods otherwise, they are likely to be wrong and misleading.

6. Statistics are collected for a pre-determined purpose

There must be a definite purpose for collecting facts. Otherwise, indiscriminate data collection might take place which would lead to wrong diagnosis.

7. Statistics are placed in relation to each other

The facts must be placed in such a way that a comparative and analytical study becomes possible.

|b. What are the components of Statistics? Give a brief description of each of the components. |

The four components of Statistics are collection, presentation, analysis and interpretation of data.

1. Collection of data

Careful planning is required while collecting data. Two methods used for collecting data are census method and sampling method.

2. Presentation of data

The collected data is usually presented for further analysis in a tabular, diagrammatic or graphic form and it is condensed, summarised and visually represented in a tabular or graphical form.

For the representation of data in diagrams, we use different types of diagrams such as one-dimensional, two-dimensional and three dimensional diagrams. Pie-charts are two-dimensional diagrams which are in the form of a circle.

3. Analysis of data

The data presented has to be carefully analysed to make any inference from it.

4. Interpretation of data

The final step is to draw conclusions from the analysed data. Interpretation requires a high degree of skill and experience.

Thus, Statistics contains the tools and techniques required for collection, presentation, analysis and interpretation of data.

|Q 2 Explain the objectives of Statistical Average. What are the requisites of a good average. | |The basic purpose of the statistical analysis is to determine the value which represents the whole series. This value is termed as central | |value or an average. In other words, average is a statistical measure representing a group of individual values in simple and comprehensive | |manner. | |The following are the main' objectives of an average: | |1. Facilitates Comparison: | |The foremost purpose of average is that it facilitates comparison | |2. Formulation of Policies: | |Averages are of great use in the...
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