Business Statistics 26 Sept

BUSINESS STATISTICS AFTERSCHO☺OL – DEVELOPING CHANGE MAKERS CENTRE FOR SOCIAL ENTREPRENEURSHIP PGPSE PROGRAMME – World’ Most Comprehensive programme in social entrepreneurship & spiritual entrepreneurship OPEN FOR ALL FREE FOR ALL

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

BUSINESS STATISTICS Dr. T.K. Jain.

AFTERSCHO☺OL Centre for social entrepreneurship Bikaner M: 9414430763 [email protected] www.afterschool.tk, www.afterschoool.tk www.afterschoool.tk

AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

What is the coefficient of mean deviation on mean for the first 9 natural numbers?

• We can solve it as: • As se can see the mean is 5 and MD is 2.22 • =2.22/5 *100 • =44 answer.

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AFTERSCHO☺OL's

X

MD

1 4 2 3 3 2 4 1 5 0 6 1 7 2 8 3 9 4 MATERIAL 5 FOR PGPSE PARTICIPANTS 2.22

If the mean and standard deviations of X are AM and SD, then what is standard deviation of (X-AM)/SD? • Let us take a hypothetical example: with this example we can find that the answer is 1. answer.

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

Solution .. X

DX 1 2 3 4 5 6 7 8 9 5

-4 -3 -2 -1 0 1 2 3 4 0 sd =

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DX^2       16 -1.5 -1.55 2.4 9 -1.2 -1.16 1.35 4 -0.8 -0.77 0.6 1 -0.4 -0.39 0.15 0 0 0 0 1 0.39 0.387 0.15 4 0.77 0.775 0.6 9 1.16 1.162 1.35 16 1.55 1.549 2.4 6.67 0 1 AFTERSCHO☺OL's MATERIAL 2.58 sdFOR= PGPSE PARTICIPANTS 1

If standard deviation of X is 3, what is the variance of (5-2x)? • Variance is square of standard deviation. Thus variance of 2x is (2*3)^2 = 36 answer.

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

X and Y are related by 2x+3y +4 =0. if standard deviation of X is 6, what is the standard deviation of Y? • If the standard deviation of X is 6, then putting this we find: • 12+3Y =0 (ignore constant). • 3Y =-12 • Y = -4 (since in standard deviation, the value is always positive; the answer is 4). www.afterschoool.tk

AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

What is standard error? • Standard deviation of sampling distribution is called standard error.

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

What is sample distribution? • We can generate infinite sample distribution from a population. These distribution show the values drawn from sample.

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

What is relation between standard error and population standard error? • Standard error = population standard deviation / square root of sample size.

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

There are 2 samples with means of 1500 and 1550. Standard deviations are 50 and 60. Are these samples different at 1% degree of significance? • • • •

Standard error = sqrt((1500/50) +(1550/60)) =7.81 Difference / SE = 50/7.81 = 6.4 =the standard value is 2.58. thus these samples are different (because their difference is more than standard value).

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

We have carried out a test on boys and girls in a school. The mean scores are 75 and 70 and standard deviations are 15 and 20. the number of boys and girls is 150 and 200. is there a significant difference in the two groups (at 5%)?

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

Solution. . • • • • • •

=sqrt((225/150)+(400/250)) =1.76 Difference / standard error =5/1.76 =2.84 Standard value is 1.96. This value is more than standard value, therefore the groups are significantly different. Answer.

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

X and Y are related as 3x+4y = 20, if quartile deviation of X is 12, then quartile deviation of Y is? • 3*12 +4Y =0 • 4Y =36 • Y =36/4 = 9 answer.

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

If quartiles are 45,52 and 65, what is quartile deviation? • 20/2 =10 answr. • What is coffecient of quartile deviation: • 20/110*100 =18.2%

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

ABOUT AFTERSCHO☺OL Afterschoool conducts three year integrated PGPSE (after class 12th along with IAS / CA / CS) and 18 month PGPSE (Post Graduate Programme in Social Entrepreneurship) along with preparation for CS / CFP / CFA /CMA / FRM. This course is also available online also. It also conducts workshops on social entrepreneurship in schools and colleges all over India – start social entrepreneurship club in your institution today with the help from afterschoool and help us in developing society.

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

Why such a programme? • To promote people to take up entrepreneurship and help develop the society • To enable people to take up franchising and other such options to start a business / social development project • To enable people to take up social development as their mission • To enable people to promote spirituality and positive thinking in the world www.afterschoool.tk

AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

Who are our supporters? • Afterschoolians, our past beneficiaries, entrepreneurs and social entrepreneurs are supporting us. • You can also support us – not necessarily by money – but by being promotor of our concept and our ideas.

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

About AFTERSCHO☺OL PGPSE – the best programme for developing great entrepreneurs • • • • •

Most flexible, adaptive but rigorous programme Available in distance learning mode Case study focused- latest cases Industry oriented practical curriculum Designed to make you entrepreneurs – not just an employee • Option to take up part time job – so earn while you learn • The only absolutely free course on internet www.afterschoool.tk

AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

Workshops from AFTERSCHO☺OL • • • • • • • • •

IIF, Delhi CIPS, Jaipur ICSI Hyderabad Branch Gyan Vihar, Jaipur Apex Institute of Management, Jaipur Aravali Institute of Management, Jodhpur Xavier Institute of Management, Bhubaneshwar Pacific Institute, Udaipur Engineering College, Hyderabad

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

Flexible Specialisations: • • • • • • • • • •

Spiritualising business and society Rural development and transformation HRD and Education, Social Development NGO and voluntary work Investment analysis,microfinance and inclusion Retail sector, BPO, KPO Accounting & Information system (with CA / CS /CMA) Hospital management and Health care Hospitality sector and culture and heritage Other sectors of high growth, high technology and social relevance

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

Salient features: • The only programme of its kind (in the whole world) • No publicity and low profile course • For those who want to achieve success in life – not just a degree • Flexible – you may stay for a month and continue the rest of the education by distance mode. / you may attend weekend classes • Scholarships for those from poor economic background • Latest and constantly changing curriculum – keeping pace with the time • Placement for those who are interested • Admissions open throughout the year • Latest and most advanced technologies, books and study material www.afterschoool.tk

AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

Components • • • • • • • • • • • • • •

Pedagogy curriculum and approach based on IIM Ahmedabad and ISB Hyderabad (the founder is alumnus from IIMA & ISB Hyderabad) Meditation, spiritualisation, and self development Essential softwares for business Business plan, Research projects Participation in conferences / seminars Workshops on leadership, team building etc. Written submissions of research projects/articles / papers Interview of entrepreneurs, writing biographies of entrepreneurs Editing of journals / newsletters Consultancy / research projects Assignments, communication skill workshops Participation in conferences and seminars Group discussions, mock interviews, self development diaryng Mind Power Training & writing workshop (by Dr. T.K.Jain)

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

Pedagogy • • • • • • • • •

Case analysis, Articles from Harvard Business Review Quiz, seminars, workshops, games, Visits to entrepreneurs and industrial visits Presentations, Latest audio-visuals Group discussions and group projects Periodic self assessment Mentoring and counselling Study exchange programme (with institutions out of India) • Rural development / Social welfare projects www.afterschoool.tk

AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

Branches • AFTERSCHO☺OL will shortly open its branches in important cities in India including Delhi, Kota, Mumbai, Gurgaon and other important cities. Afterschooolians will be responsible for managing and developing these branches – and for promoting social entrepreneurs.

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

Case Studies • We want to write case studies on social entrepreneurs, first generation entrepreneurs, ethical entrepreneurs. Please help us in this process. Help us to be in touch with entrepreneurs, so that we may develop entrepreneurs.

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

Basic values at AFTERSCHO☺OL • • • • • •

Share to learn more Interact to develop yourself Fear is your worst enemy Make mistakes to learn Study & discuss in a group Criticism is the healthy route to mutual support and help • Ask fundamental questions : why, when, how & where? • Embrace change – and compete with yourself only www.afterschoool.tk

AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

www.afterschoool.tk social entrepreneurship for better society

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS