Master of Business Administration- MBA Semester 1 MB0040 – Statistics for Management – 4 Credits (Book ID: B1731) Assignment – 60 marks 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. Q1. Statistics plays a vital role in almost every facet of human life. Describe the functions of Statistics. Explain the applications of statistics. (Meaning – 2 marks, Functions – 3 marks, Applications – 5 marks) 10 marks Q2. a. Explain the various measures of Dispersion. (Explanation – 5 marks) b.Obtain the values of the median and the two Quartiles. 391 384 591 407 672 522 777 733 2488 1490 (Formulas – 2 marks, Calculation/Solution- 3 marks) 10 marks Q3. a. What is correlation? Distinguish between positive and negative correlation. (Meaning – 2 marks, Differences – 3 marks) b. Calculate coefficient of correlation from the following data. X Y 1 9 2 8 3 10 4 12 5 11 6 13 7 14 8 16 9 15 10 marks (Formula – 1 marks, Calculation/Solution- 3 marks, Interpretation – 1 mark) Q4. Index number acts as a barometer for measuring the value of money. What are the characteristics of an index number? State its utility. Meaning – 2 marks, Utility – 2 marks, Characteristics – 6 marks) 10 marks Q5. Business forecasting acquires an important place in every field of the economy. Explain the objectives and theories of Business forecasting. (Meaning – 2 marks, Objectives – 3 marks, Theories – 5 marks) 10 marks Q6. The weekly wages of 1000 workers are normally distributed around a mean of Rs. Summer 2013 70 and a standard deviation of Rs. 5. Estimate the number of workers whose weekly wages will be: a. Between 70 and 72 b. Between 69 and 72 c. More than 75 d. Less than 63 (Formula – 2 marks, Calculation/Solution/Interpretation-8 marks) 10 marks