Mb0024 Statistics For Management

ASSIGNMENTS MB 0024 (3 credits) Set 1 Marks 60 STATISTICS FOR MANAGEMENT ANSWER ALL QUESTIONS Case 1 ABC Branch of XYZ Bank has decided to give 10 Lakh of loan each on long term basis to only two of their customers (accountholders), who are businessmen of the locality. About 20 businessmen had applied for loan in order to develop their business further. In order to reject some of the applications (as the fund was limited), the Bank decided that accountholder who had maintained a minimum balance of 50000 INR would only be considered for the loan. As a result, 10 applications were automatically rejected as they were not satisfying the requirement of minimum balance. Now, the 10 applications remained and it was found that monthly minimum balance in all the cases were more than 50000 INR for the last 12 months. Their account details of monthly minimum balance are given below. Month s

Jan, 2008 Feb, 2008 Mar, 2008 Apr, 2008 May, 2008 Jun, 2008 Jul, 2008 Aug, 2008 Sept, 2008 Oct, 2008 Nov, 2008 Dec, 2008

Monthly Minimum Balance in INR

A/C Holder 1 60000

A/C Holder 2 56000

A/C Holder 3 66000

A/C Holder 4 86000

A/C Holder 5 56000

A/C Holder 6 59000

A/C Holder 7 59000

A/C Holder 8 52000

A/C Holder 9 53000

A/C Holder 10 56000

70000

76000

74000

96000

76000

96000

78000

73000

98000

76000

55000

112000

190000

90000

98000

11000 0 89000

12000 0 97000

11500 0 87000

11200 0 93000

11300 0 66000

120000

90000

11000 0 89000

56000

88000

84000

84000

88000

98000

90000

89000

87000

86000

80000

52000

57000

57000

52000

57000

55000

54000

59000

72000

82000

58000

96000

66000

58000

56000

86000

55000

98000

98000

79000

95000

55000

93000

95000

98000

99000

96000

59000

95000

51000

86000

76000

74000

86000

88000

89000

97000

87000

84000

95000

90000

95000

99000

90000

99000

95000

99000

95000

90000

82000

82000

87000

84000

82000

88000

87000

88000

86000

82000

83000

55000

56000

57000

55000

59000

59000

59000

52000

53000

89000

You as an Assistant Branch Manager of the Bank are entrusted the task of selecting two account holders for sanctioning the loans. How you will select the two individuals among the 10 applicants to give the loan using appropriate statistical techniques? Give proper justification for your selection.

ASSIGNMENTS MB 0024 (3 credits) Set 1 Marks 60 STATISTICS FOR MANAGEMENT ANSWER ALL QUESTIONS

1. What do you mean by sample survey? What are the different sampling methods? Briefly describe them. 2. What is the different between correlation and regression? What do you understand by Rank Correlation? When we use rank correlation and when we use Pearsonian Correlation Coefficient? Fit a linear regression line in the following data – X

12

15

18

Y

123

150

158

20

27

34

28

48

170 180

184

176

130

3. What do you mean by business forecasting? What are the different methods of business forecasting? Describe the effectiveness of time-series analysis as a mode of business forecasting. Describe the method of moving averages. 4. What is definition of Statistics? What are the different characteristics of statistics? What are the different functions of Statistics? What are the limitations of Statistics? 5. What are the different stages of planning a statistical survey? Describe the various methods for collecting data in a statistical survey. 6. What are the functions of classification? What are the requisites of a good classification? What is Table and describe the usefulness of a table in mode of presentation of data?