Business Statistics

MBA (G) 31/2 2nd Term Mid Term Total Marks 30. Note: Attempt all the questions Q1. Pick the correct one and justify your Answer 1. Frequency distributions are a subset of inferential statistics. 2. Summary statistics are a subset of descriptive statistics. (True/False) (True/False) Time Allowed 2 hrs.

3. If a statistic is computed using all of the people or objects in a given population, we refer to the statistic as a population parameter. 4. A population is a set of existing units. 5. Inferential Statistics is also deductive statistics. Q2. Differentiate between the following 1. Statistics vs Statistic 2. Sample vs Population 3. Inferential vs Descriptive Statistics 4. Statistical Error vs Statistical Mistake Q3. Briefly narrate the following 1. Importance of Statistics in Banking Sector, Production and Medicine. 2. Croxton and Cowden gave the most comprehensive definition of Statistics, explain in detail. 3. Name the different methods of collecting Primary data, which method is most suitable. 4. Highlight the prominent Characteristics of Data. 5. Bases of Classification (True/False) True/ False True/False

6. Rules of Tabulation.