STATISTICAL METHODS AND DATA ANALYSIS

ASSIGNMENT

SUBMITTED TO: - PROF. DR. BIJAY LAL PRADHAN

SUBMITTED BY: - MOHAN DEV NATH
 Assignment 1
Q.No. 1

Answer: - Definition of Descriptive Statistics

Descriptive statistics refers to the branch of statistics that focuses on

summarizing, organizing, and presenting data in the meaningful way. It provides
simple quantitative descriptions of the mean features of dataset, often through
graphs, tables and numeric calculations.

It includes:

 Measure of central tendency ( mean, median, mode )

 Measure of dispersion ( range, variance, standard deviation )
 Graphical tools ( histograms, bar charts, pie charts )

Importance of Descriptive Statistics in Business and Management Research

 Data summarizing: Descriptive statistics helps simplify large volumes of

data to identify patterns or trends.
 Informed decision making: Managers can base their strategies on data
insights (e.g., average sales, customer behavior).
 Performance Analysis: Compare sales performance, employee
productivity, and market segments.
 Forecasting and Planning: Past data summaries aid in predicting future
outcomes.
 Reporting: Clear communication of research finding to stakeholders using
charts, averages, and another tools.

Q.No. 2

Answer: - Difference Between Measures of Central Tendency and Measures

of Dispersion:
Feature Measures of Central Measures of Dispersion
Tendency
Definition Summarize data with a Indicate the spread or
single value representing variability of data values.
the central of the
distribution.
Purpose To find a representative To understand how
or typical value in the much the data varies
dataset. from the centre.
Common Measures Mean, Median, Mode Range, Variance,
Standard Deviation.
Use Case in Business Knowing average Understanding
purchase, stock in variability in purchase
marketing purpose. helps manage stock and
risk.
Example Average income of Standard deviation of
employees is Rs. 60,000 income is Rs. 6,000
per month. showing variability.

Q.No. 3

Answer: - Different Types of Graphs and Charts

Histogram: -
 Purpose- Show distribution of numeric data.
 Data Type- Categorical (part-to-whole relationship).
 Example- Market share, budget distribution.
 Frequency
35
30
25
20 Frequency
15
10
5
0
75-89 90- 105- 120- 135- 150- 165- 180- 195- 210-
104 119 134 149 164 179 194 209 224

Bar Graph: -
 Purpose- Compare quantities across different categories.
 Data Type- Categorical or discrete numerical.
 Example- Sales by region, Population by country.

4
Gita
Hari
3 Shyam
Ram

0 20 40 60 80 100 120 140 160

Pie Chart: -
 Purpose- Show proportion or percentage of a whole.
 Data Type- Categorical (part-to-whole relationship).
 Example- Market share, budget distribution.
 Frequency
75-89
90-104
105-119
120-134
135-149
150-164
165-179
180-194
195-209
210-224

Frequency Polygon: -
 Purpose- Show trend over time.
 Data Type- Time-series or continuous numerical.
 Example- Stock prices, Temperature over days.

Frequency
35

30

25

20 Frequency
Axis Title 15

10

0
75- 90- 105- 120- 135- 150- 165- 180- 195- 210-
89 104 119 134 149 164 179 194 209 224

Scatter Plot: -
 Purpose- Show relationships or correlations between two
variables.
  Data Type- Numerical (both axes)
 Example- Height vs. Weight, Income vs. Expenditure.

180
160
140
120
100
80
60
40
20
0
0 2 4 6 8 10 12

Height (cm) Weight (kg)

Area Chart-
 Purpose- Show cumulative trends over time (like a line graph but
filled).
 Data Type- Time-series or numerical.
 Example- Cumulative sales over months.

Freqency
30

25

20
Freqency
15

10

0
0-20 20-40 40-60 60-80 80- 100- 120- 140- 160- 180-
100 120 140 160 180 200
 Box Plot (Box-and-Whisker Plot)
 Purpose- Display distribution summary, including median,
quartiles, and outliers.
 Data Type- Numerical.
 Example- Exam score range across classes.
Bubble Chart-
 Purpose- Show relationship with an added third variable
(bubble size).
 Data Type- Numerical (3 variable).
 Example- Population vs. GDP vs. CO2 emissions.

Q.No.4

Solution: - Sales revenue (in thousands rupees) = 48, 55, 53, 60,

52, 55, 49, 61, 58,55,47,54.

Ascending order = 47,48,49,52,53,54,55,55,55,58,60,61

ΣX 47+ 48+ 49+52+ 53+54+55+ 55+55+58+60+61
Mean (X͞) = N = 12
= 53.91666

Median (Me) =
n
2
thterm+( )
n+1
2
thterm 54+55
¿
2
= 54.5
2

Mode (Mo) = 55

Range = 61-47 = 14

√
2 2
Standard deviation (S.D) = Σ x −( Σx )
N N

√
2
= 35103 −( 647 )
12 12
 = 4.28

Q.No. 5

Solution: - Given Data = 6,7,8,5,9,6,7,8,5,6,7,9,4,8,7

Ascending order =4, 5,5,6,6,6,7,7,7,7,8,8,8,9,9

First quartile (Q1) = 6

Third quartile (Q3) = 8

Inter quartile range (IQR) = Q3- Q1 = 8-6 = 2

Here, Q1 - 1.5 (Q3- Q1) = 6 - 1.5 (8- 6) = 3

And Q1 + 1.5 (Q3- Q1) = 6 + 1.5 (8-6) = 9

In the given data there is not value less than 3 and greater than 9
So, there aren't any outliers.

Q.No. 6
Solution: - Frequency Distribution Table of given data

Class Interval Frequency

95-96 3
97-98 9
99-100 9
101-102 7
103-104 2

Histogram of daily production

 Frequency
10
9
8
7
6 Frequency
5
4
3
2
1
0
95-96 97-98 99-100 101-102 103-104

Q.No. 8
Solution: - The Scatter Plot X-axis: Advertising Expenditure (Rs 000) and Y-axis:
Sales Revenue (Rs 10,000)
60

50

40

30

20

10

0
0 5 10 15 20 25

Advertising Expenditure (Rs.000) Sales Revenue (Rs.10,000)

 Assignment 2
Q.No. 1

Solution: - Here,

Probability that first set wins P (A) = 0.6

Probability that second set wins P (B) = 0.4

Probability of introducing new product if first set win P (N/A) = 0.9

Probability of introducing new product if second set win P (N/B) = 0.4

The total probability that a new product will be introduced,

P(N) = P(A).P(N/A) + P(B).P(N/B)

= 0.6 x 0.9 + 0.4 x 0.4

= 0.54 + 0.16

= 0.70

So, the Probability that a new product will be introduced is 0.70.

Q.No. 2

Solution: - Here,

The chance of winning Congress P(C) = 0.55

The chance of winning Communist P (M) = 0.45

The probability for presenting deficit budget by Congress (if wins)

P (D/C) = 0.75

The probability for presenting deficit budget by Communist (if wins)

P (D/M) = 0.35

(a) P (D) = P(C).P (D/C) + P (M).P (D/M)

 = 0.55 x 0.75 + 0.45 x 0.35

= 0.4125 + 0.1575

= 0.57

So, the probability that a deficit budget presented is 0.57.

(b) Using Bayes Theorem,

P ( C ) . P( D∨C)
P (C/D) =
P(D)

0.55 X 0.75
= 0.57

0.4125
= 0.57

= 0.724

So, the probability that Congress will lead given a deficit budget presented is
0.724.

(c) Using Bayes Theorem,

P ( M ) . P (D∨M )
P (M/D) =
P(D)

0045 X 0.35
= 0.57

0.1575
= 0.57

= 0.276

So, the probability that Communist will lead given a deficit budget presented is
0.276.
Q.No. 3

Solution: - Here,

Probability that dispute over wages P (W) = 60% = 0.60

Probability that dispute over working conditions P(C) = 15% = 0.15

Probability that dispute over fringe issues P(F) = 25% = 0.25

Probability that dispute over wages resolved without strike,
P (S|W) = 45% = 0.45
Probability that dispute over working condition resolved without strike,
P (S|C) = 70% = 0.70
Probability that dispute over fringe issues resolved without strike,
P (S|F) = 40% = 0.40
Now, the total probability of resolution without strike,

P(S) = P(S).P (S|W) + P(C).P (S|C) + P (F).P (S|F)

= 0.45 x 0.60 + 0.70 x 0.15 + 0.40 x 0.25

= 0.27 + 0.105 + 0.10

= 0.475

Using Bayes Theorem,

P ( W ) . P(S∨W )
P (W|S) =
P(S )

0.45 X 0.60
= 0.475

0.27
= 0.475

= 0.5684

So, the probability that if a labor management disputes in this industry is resolved
without strike, it was over wages is 0.5684.
Q.No. 4

Solution: - Here,

Probability of X becoming manager P(X) = 4/9

Probability of Y becoming manager P(Y) = 2/9

Probability of Z becoming manager P (Z) = 3/9

Probability that bonus scheme will be introduced if X becomes manager

P (M|X) = 0.3

Probability that bonus scheme will be introduced if Y becomes manager

P (M|Y) = 0.5

Probability that bonus scheme will be introduced if Z becomes manager

P (M|Z) = 0.8

Now, the total probability that appointment as the manager,

P(M) = P(X).P(M|X) + P(Y).P(M|Y) + P(Z).P(M|Z)

= 4/9 x 0.3 + 2/9 x 0.5 + 3/9 x 0.8

= 1.2/9 + 1/9 + 2.4/9

= 4.6/9

Using Bayes' Theorem,

P ( X ). P(M ∨X )
P (X|M) = P(M )

4
( 0.3 ) .( )
= 9
4.6/9

1.2
= 4.6

= 0.2609
So, the probability that X is appointed as the manager is 0.2609.

Q.No. 5

Solution: - Here,

First bag contains 5 white and 4 black balls. A ball is transferred to the second
bag.

So, the probability that white ball is transferred P (W) = 5/9

The probability that black ball is transferred P (B) = 4/9

If white ball is transferred then probability that the drawn ball from second bag is
white P1 (W) = 8/17

If black ball is transferred then probability that the drawn ball from second bag is
white P2 (W) = 7/17

So, the total probability that ball drawn from second bag is white is,

P (W) = P (W).P1 (W) + P (B).P2 (W)

5 8
=9 . 17
+ 49 . 7
17

40 28
= 153 + 153

68
= 153

= 0.4444

So, the probability that the ball is white is 0.4444 (Approx.).