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sTATISTICS FOR MANAGEMENT, Basic Statistics

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1. Mention the characteristics of Statistics. Explain any two applications of Statistics.
2. Distinguish between primary and secondary data. What are the methods of collecting primary data?
3. Find Karl Pearson’s correlation coefficient between the sales and expenses from the data given below:
Sales
(Rs. Lakhs)
50
50
55
60
65
65
65
60
60
50
Expenses (Rs. Lakhs)
11
13
14
16
16
15
15
14
13
13
4. The incidence of occupational disease in an industry is such that the workers have a 20% chance of suffering from it. What is the probability that out of six workers 4 or more will contract the disease?
5. Use chi-square test to test if the two attributes (Performance and Training) in the following table are independent. Test at 5% level of significance.
Performance
Training
Intensive
Good
Average
Total
Above Average
100
150
40
290
Average
100
100
100
300
Poor
50
80
150
280
Total
250
330
290
870
Fall 2012
6. Construct index numbers of price for the following data by applying:
i) Laspeyre’s method
ii) Paasche’s method
iii) Fisher’s Ideal Index number
Commodity
Base year
Current year
Price
Quantity
Price
Quantity
A
2
8
4
6
B
5
10
6
5
C
4
14
5
10
D
2
19
2
13

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