| SESSION | FEB/MAR 2021 |
| PROGRAMME | MASTER OF BUSINESS ADMINISTRATION (MBA) |
| SEMESTER | I |
| COURSE CODE & NAME | DMBA103-STATISTICS FOR MANAGEMENT |
| CREDITS | 4 |
| NUMBER OF ASSIGNMENTS , CREDITS & MARKS | 02 4 Credits, 30 Marks each |
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Question 1. Define statistics. Explain different characteristics of statistics
Answer: Statistics: It has been derived from the Latin word “Status”, German word “Statistik” and the Italian word “Statista”, but all have the same meaning, that is the political state.
In the ancient period, “statistics” was used by the ruling head of states to collect the information, of the military strength, population, property and wealth of the country, etc.
So, in those days “Statistics” was considered as the science of statecraft. But at present, statistics is used by economists, managers, scientists researchers, etc
Question 2. Define statistical survey. Explain different methods of data collection.
Answer: Statistical survey: Survey data is defined as the resultant data that is collected from a sample of respondents that took a survey. This data is comprehensive information gathered from a target audience about a specific topic to conduct research. There are many methods used for survey data collection and statistical analysis.
Question 3. Explain different types of sampling techniques.
Answer: Types of sampling: sampling methods
Sampling in market research is of two types – probability sampling and non-probability sampling. Let’s take a closer look at these two methods of sampling.
Probability sampling: Probability sampling is a sampling technique where a researcher sets a selection of a few criteria and chooses members of a population randomly. All the members have an equal opportunity to be a part of the sample with this
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