MBA103 Statistics for Management

MBA SEMESTER I
MBA 103- Statistics for Management
Q1. Give the meaning of the word Statistics. Mention the characteristics of Statistics.
Meaning of Statistics: The word statistics refers to "numerical facts systematically arranged".
In this sense, the word statistics is always used in the plural. We have, for instance, statistics
of prices, statistics of road, accidents, statistics of crimes, statistics of births, statistics of
Get Complete Answers on www.smuhelp.com
Q2. a. What do you mean by Probability?
b. A bag contains 5 white, 6 red, 2 green and 2 black balls. One ball is selected at
random from the bag. Find the probability that the selected ball isi. white
ii. non-white
iii. white or green
iv. black or red
Definition of Probability: The probability of an event is the measure of the chance that the
event will occur as a result of an experiment. The probability of an event A is the number of
ways event A can occur divided by the total number of possible outcomes. Probability is a
Get Complete Answers on www.smuhelp.com
Q3. What do you mean by Sampling? Describe various Probability and NonProbability Sampling Methods
Meaning of Sampling: Sampling is a tool which enables us to draw conclusions about the
characteristics of the population. Sampling is a process used in statistical analysis in which a
predetermined number of observations are taken from a larger population. The methodology
get Complete Answers on www.smuhelp.com

MBA103 Statistics for Management

Download Report