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ALLAMA IQBAL OPEN UNIVERSITY ISLAMABAD
(Department of Business Administration)
BUSINESS STATISTICS (BBA-133)
(CHECKLIST)
SEMESTER: AUTUMN, 2010
This packet comprises the following material:
1. Text Book (two)
2. Course Outlines
3. Assignment No 1 & 2
4. Assignment Forms (2 sets)
Note: If you find anything missing out of the above-mentioned material, please contact at the address given below:
Assistant Registrar
Mailing Section, Block No.28
Allama Iqbal Open University
H-8, ISLAMABAD
Course Coordinator
ALLAMA IQBAL OPEN UNIVERSITY, ISLAMABAD
(Department of Business Administration)
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ASSIGNMENT No. 1
Course: Business Statistics (133) Semester: Autumn, 2010
Level: BBA Total Marks: 100
Pass Marks: 40
Note: All questions carry equal marks.
Q. 1 (a) Discuss applications of statistics in business with at least three examples.
(b) Why we use diagrams for presenting statistical data? Explain briefly. State the advantages and disadvantages of any three of them.
Q. 2 Given the following data regarding daily sales (in thousands of rupees) of a supper store.
58.3 48.6 83.5 70.8 72.1 71.6 59.4 77.4 79.4 71.6 95.5
73.0 74.2 81.8 90.6 55.9 75.2 81.9 68.9 74.2 80.7 65.7
67.6 82.9 88.1 77.8 69.4 83.2 73.8 64.2
(i) Construct a frequency distribution
(ii) Find class-boundaries, cumulative-frequencies and relative frequencies
(iii) Draw a suitable frequency graph
(iv) What conclusions would you draw from the graph?
Q. 3 Please refer to the frequency table constructed in Q.No.2. Calculate the following:
(i) Mean
(ii) Median
(iii) Quartiles
(iv) Standard Deviation
(v) Coefficient of Variation
Q. 4 (a) Suppose A and B are mutually exclusive events and that P(A)=0.45,P(B)=0.35
(i) Is the event A complement of the event B, Explain
(ii) Find P(A and B)
(iii) Find P(A and B)c
(b) In Faisalabad, 60% of the licensed drivers are 30 years of age or older and 40% of the drivers are under 30 years of age. Of all drivers 30 years of age or older 4% will have a traffic violation in a twelve-month period. Of all drivers under 30 years of age, 10% will have a traffic violation in a twelve-month period. Assume that a driver has just been charged with a traffic violation; What is the probability that the driver is under 30 years of age?
Q. 5 (a) A secretary is supposed to send 6 out of 15 letters by airmail, but she gets them all mix up and randomly puts airmail stamps on 6 of the letters. What is the probability that only 3 of the letters, which should go by airmail, get airmail stamps?
(b) From past experience the management of a well-known fast-food restaurant estimate a number of weekly customers at a particular location is normally distributed with a mean of 5000 and a standard deviation of 800 customers.
(i) What is the probability that on a given week the number of customers will be 4760 to 5800?
(ii) What is the probability of more than 6500 customers?
ASSIGNMENT No. 2
Total Marks: 100 Pass Marks: 40
Q. 1 (a) A question regarding market price of the respondents was included in a household survey. Describe the nature of errors expected in the household survey. Describe the nature of errors expected in the response. How will you correct such errors, if they occur?
(b) A professor of management is studying the relationship between work schedules and family life. In a sample of 120 people who worked the night shift only, he found the following:
The mean weekly amount of time (in hours) they spent caring for their children was 27.2 hours with a standard deviation of 10.3 hours. Determine a 95% confidence interval for the mean number of hours spent caring for their children.
Q. 2 (a) Two sections of a statistics course took the same final examination. A sample of 9 was randomly drawn from section A and a sample of 4 was randomly selected from section B. Scores are given below:
Section A: 65, 68, 72, 75, 82, 85, 87, 91, 95
Section B: 50, 59, 71 80
Test the hypothesis that the performance of section A is better than section B.
(b) In an experiment to study the dependence of hypertension on smoking habits, the following data were taken on 180 individuals:
Non Smokers Moderate Smoker Heavy Smokers
Hypertension: 21 36 30
No Hypertension: 48 26 19
Test the hypothesis that the presence or absence of hypertension is independent of smoking habits. Use a o.05 level of significance.
Q. 3 (a) Explain the difference between regression and correlation. How important is their use in business.
(b) Find the coefficient of correlation between demand and supply for the following data:
Supply: 400 200 700 100 500 300 600
Demand: 50 60 20 70 40 30 10
What information did you get from the value of ‘r’? Explain
BUSINESS STATISTICS (BBA-133)
COURSE OUTLINES
UNIT-1: INTRODUCTION TO STATISTICS
- Definition of Statistics
- Descriptive and Inferential Statistics
- Role of Statistics in Business
- Constructing a Frequency Distribution
- Graphing Frequency Distribution
- Line Chart
- Bar Chart
- Multiple Bar Chart
- Pie Chart
- Frequency Distribution for Qualitative Data
- Graphical Display of Data
- Graphic Display of Qualitative Frequency Distributions
- Grouped Frequency Distribution
- Cumulative Frequency Distribution
- The Ogive
- Distribution Shapes
UNIT-2: DESCRIPTIVE STATISTICS
- Measures of Central Tendency
- Mean (Arithmetic, Weighted and Geometric Means)
- Median
- Mode
- Choosing Measures of Central Tendency
- Percentiles, Deciles, and Quartiles
- Measures of Dispersion
- Range and Semi-Interquartile Range
- Variance
- Standard Deviation
- The Coefficient of Variation
- Interpretations
- Skewness and Kurtosis
- Measures of Skewness and Peakedness
UNIT-3: PROBABILITY - I
- Set Theory
- Sample Spaces and Events
- Elementary Principles of Probability
- Types of Probability
- Probability Rules
- The Calculation of Probabilities
- Bayes's Rules
- Combinations and Permutations
UNIT-4: PROBABILITY - II
- Introduction to Probability Distribution
- Random Variables
- Discrete Probability Distribution
- Use of Expected Value in Decision Making
- Continuous Probability Distribution
- The Binomial Distribution
- Hypergeometric Distribution
- The Poisson Distribution
- The Normal Distribution
- The Central Limit Theorem
UNIT-5: SAMPLING AND SAMPLING DISTRIBUTION
- Population and Samples
- Parameters and Estimates
- Introduction to Statistical Inference
- Introduction to Sampling
- Importance of Sampling in Statistics
- Random Sampling
- Stratified and Proportional Stratified Sampling
- Other Sampling Procedures
- Errors in Sampling
- Sampling Distribution
- Point and Interval Estimation
- Using Sampling Distributions to Make Inferences
- The Relationship between Sample Size and Standard Error
UNIT-6: ESTIMATION
- Point Estimation
- Methods of Obtaining Point Estimator
- Interval Estimation and Confidence Intervals
- Estimation of Means
- Estimation of Differences Between Means
- Estimation of Proportions
- Estimation of Variances
- Estimating Required Sample Size
UNIT-7: TEST OF HYPOTHESIS
- Role of Statistical Hypothesis
- Formulating Hypothesis
- The Null Hypothesis and Error Type
- One Sided and Two-Sided Tests
- Testing Hypothesis about Single Sample Means
- Testing Hypothesis about Two Independent Sample Means
- Hypothesis Testing of Proportions- Large Samples
- Testing for Differences between Means and Proportions
- The Importance of Sampling Distribution as Probability Distribution
- Probability Distributions: z, t, X2 and F Distribution
- Interpretations Based on Tests of Hypothesis
- Goodness of Fit
UNIT-8: REGRESSION AND CORRELATION ANALYSIS
- The Functional Relationship between Two Variables
- The Error Component and the Principle of Least Squares
- The Linear Regression Equation: Line of Best Fit
- Calculating the Regression Equation
- Evaluating a Regression Equation
- Linear Correlation
- Inferences Concerning Correlation Coefficients
- Factors Affecting the Correlation Coefficient
- Multiple Regression and Correlation Analysis
UNIT-9: TIME SERIES AND INDEX NUMBERS
- Introduction to Time Series
- Variations in Time Series
- Trend Analysis
- Cyclical Variation
- Seasonal Variation
- Irregular Variation
- Time Series Analysis in Forecasting
- Defining an Index Number
- Unweighted Aggregate Index
- Weighted Aggregate Index
- Quantity and Value Indices
TEXT BOOKS:
1. Levin, D. and Rubin, D., “Statistics for Management” 7th Ed. Prentice- Hall Int.
2. Mason, R.D and Lind, D.A., “Statistical Techniques in Business and Economics”, 9th Edition.