# SOLUTIONS TO MB0040 STATISTICS FOR MANAGEMENT SEMESTER 1

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SOLUTIONS TO MB0040 STATISTICS FOR MANAGEMENT SEMESTER 1

Question No 1.

Statistics plays a vital role in almost every facet of human life. Describe the functions of Statistics. Explain the applications of statistics.

QUESTION NO 2.

1. a) Explain the approaches to define probability.
2. b) State the addition and multiplication rules of probability giving an example of each case.

Question No 3.

1. a) The procedure of testing hypothesis requires a researcher to adopt several steps. Describe in brief all such steps.
2. b) Explain the components of time series.

Question No 4.

1. a) What is a Chi-square test? Point out its applications. Under what conditions is this test applicable?
2. b) Discuss the types of measurement scales with examples.

Question No 5.

Business forecasting acquires an important place in every field of the economy. Explain the objectives and theories of Business forecasting.

Question No 6.

1. a) What is analysis of variance? What are the assumptions of this technique?
2. b) Three samples  below  have  been  obtained  from  normal  populations  with  equal variance Test the hypothesis at 5% level that the population means are equal.
 A B C 8 7 12 10 5 9 7 10 13 14 9 12 11 9 14

[The table value of F at 5% level of significance for v1 = 2 and v2 = 12 is 3.88]