Description

SESSION	JULY-AUG 2024
PROGRAM	BACHELOR OF COMMERCE (B COM)
SEMESTER	III
COURSE CODE & NAME	DCM2104 BUSINESS STATISTICS

 

 

Set – 1

 

 

1. Statistical data are classified in respect of their characteristics. In lieu of this explain four types of classification of data.

Ans 1.

Classification of Statistical Data

Statistical data classification is an essential process in organizing data to derive meaningful insights. Data classification involves grouping data based on their characteristics to facilitate analysis and interpretation. The process ensures that complex data is systematically categorized for easier comprehension and comparison. The four main types of data classification are qualitative, quantitative, geographical, and chronological.

1. Qualitative Classification

This type of classification is based on non-numerical attributes or qualities. The data categorized here represents characteristics that cannot be measured in numerical terms but

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2. In a correlation study, the following values are obtained.

	X	Y
Mean	65	67
S.D.	2.5	3.5

 

Coefficient of correlation, r = 0.8.  Find the two regression equations.

Ans 2.

Given Data:

• Mean of
• Mean of
• Standard deviation of
• Standard deviation of
• Coefficient of correlation ( ) = 0.8

 

We aim to find the two regression equations:

1. Regression of  on

 

 

3. Explain the average with the features required for a good or an ideal average.

Ans 3.

Understanding Averages and Their Ideal Features

An average is a representative value used to summarize a set of data. It provides a central point around which the values of the dataset tend to cluster, simplifying the analysis of large data sets. Averages are widely applied in various fields, such as economics, social sciences, and business, to draw meaningful conclusions from numerical data.

There are several types of averages, including the arithmetic mean, median, mode, geometric mean, and harmonic mean. Each type serves specific purposes based on the nature and

 

 

Set – 2

 

 

4. Discuss Hypotheses and hypothesis testing in detail.

Ans 4.

Hypotheses and Hypothesis Testing

A hypothesis is a foundational element of research and statistical analysis, serving as a tentative assumption or prediction about a relationship, phenomenon, or characteristic. It provides a basis for investigation and helps researchers establish a focus for their study. Hypotheses are typically framed as testable statements, which can either be supported or refuted through observation and experimentation. There are two primary types of hypotheses: the null hypothesis (H0H_0H0​) and the alternative hypothesis (H1H_1H1​). The null hypothesis assumes no effect, relationship, or difference between variables, essentially

 

 

5. A study was carried out on the advertising methods of a brand of product. The unit sales achieved by five stores were recorded as under:

	Store A	Store B	Store C	Store D	Store E
Method I	78	85	82	88	79
Method  II	81	92	77	83	81
Method III	79	83	71	78	80

 

Calculate the F-ratio, using ANOVA at 15% level of significance. Establish is there any significant difference between the sales made in the different states. 4+3+3

Ans 5.

Step-by-Step Calculation of F-Ratio Using ANOVA

Given Data:

The unit sales achieved by five stores using three advertising methods are as follows:

Store	Method I	Method II	Method III
A	78	81	79
B	85	92	83
C	82	77	71
D	88	83	78
E	79	81	80

 

Step 1: Formulate Hypotheses

• Null Hypothesis ( ): The mean sales for the three methods are equal ( ).

 

 

6. What should be the ideal structure of a research report? Explain with the elements of the structure.

Ans 6.

The Ideal Structure of a Research Report

A well-structured research report is essential for effectively communicating findings, methodologies, and conclusions. It ensures clarity, coherence, and a systematic presentation of information, making it easier for readers to comprehend the research’s objectives and implications. The structure typically consists of the following key elements:

1. Title Page

The title page provides basic information about the research. It includes the title of the report, the author(s), the institution or organization, the date of submission, and any additional