# Assignment: Normal Distribution and Business Forecasting

Topics: Normal distribution, Stratified sampling, Sampling Pages: 7 (308 words) Published: February 26, 2014
DRIVE
PROGRAM
SEMESTER
SUBJECT CODE & NAME
BK ID
CREDITS
MARKS

ASSIGNMENT
WINTER 2013
I
MB0040
STATISTICS FOR MANAGEMENT
B1731
4
60

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme. Questions
Marks
Total Marks
Q.No
1
Distinguish between Classification and Tabulation. Explain the structure and

components of a Table with an example.
Meaning of Classification and Tabulation
Differences between Classification and Tabulation

2

Structure and Components of a Table with an example
2

2

10

6

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.

Characteristics of Normal probability distribution
Formula/Computation/Solution to the problem

3

4

10

6

a) The procedure of testing hypothesis requires a researcher to adopt several steps. Describe in brief all such steps.
b) Distinguish between:
i. Stratified random sampling and Systematic sampling
ii. Judgement sampling and Convenience sampling

Hypothesis testing procedure

4

Differences

10

6
(3 each)

4

a) What is regression analysis? How does it differ from correlation analysis? b) Calculate Karl Pearson’s coefficient of correlation between X series and Y series. X

110

120

130

120

140

135

155

160

165

155

Y

12

18

20

15

25

30

35

20

25

10

Meaning of Regression and Correlation
Differences

3

Formula/ Computation/ Solution to the problem
5

2

5

Briefly explain the methods and theories of Business forecasting. Meaning of Business forecasting

2

4

6

10

10

4

Construct Fisher’s Ideal Index for the given information and check whether Fisher’s formula satisfies Time Reversal and Factor Reversal Tests.
Items

P0

Q0

P1

Q1

A

16

5

20

6

B

12

10

18

12

C

14

8

16

10

D

20

6

22

10

E

80

3

90

5

F

40

2

50

5

Formula of Fishers Ideal Index

1

Computation of Fisher’s Ideal Index

3

Fisher’s formula satisfies Time Reversal Test

3

Fisher’s formula satisfies Factor Reversal Test

3

10