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[QM 105]
Class-I:
Course rules and framework
Course Overview
Case: Price of flats in Bangalore
Data Summarization and Presentation
Attendance
Punctuality
code of conduct
Come prepared with the case(s) assigned in the session
Bring calculator, text book to class everyday
Question-answers, discussions and CP
Difficulty level and frame of mind
Course objective: different aspects of learning and relative
importance
Concepts
Reading material
Problem solving
Use of software
How to use
Text-book
Question bank
Exercise 1
General Information
Section C
Section D
Section D
https://docs.google.com/spreadsheets/d/1OVg1QzU95Xyxtl5sZtl7pS9KMNfubAwOsZYCMwZw0zA/edit#gid=0
Finance, Marketing
Operations Management,
Organization Behaviour
Personal Life
Directly
or
as a Supervisor
Statistical application in
Managerial Function
What is STATISTICS?
DATA
Population
probability
Arrangement
Presentation
Summarization
INFERENCE
Some Applications in
Finance and Accounting
Some Applications in
Operations Management
Portfolio diversification
Managerial accounting prepare budget
Forecast sales, cost
9.75
32.96
75.27
70.71
108.47
15.60
17.01
16.18
12.40
14.60
14.98
17.21
19.62
30.20
20.23
20.87
20.16
79.36
25.32
23.36
17.98
131.33
54.19
81.92
16.05
102.42
7.46
41.72
55.79
125.85
25.34
17.83
46.53
19.98
49.70
20.94
156.89
18.02
20.28
26.41
27.72
24.72
22.48
65.10
6.72
11.36
8.53
13.76
13.44
86.32
9.73
16.07
49.70
39.38
54.58
43.66
9.04
11.10
47.23
35.09
12.78
22.35
30.12
42.36
30.29
13.08
122.47
40.03
15.04
28.72
52.66
54.03
16.29
12.95
65.95
10.37
7.79
47.89
45.18
158.30
86.05
76.94
29.67
27.15
38.97
26.56
11.66
6.55
52.59
38.68
44.44
32.16
11.92
73.00
21.13
13.84
14.05
19.23
17.83
53.49
40.87
16.66
77.01
6.62
42.11
24.70
28.03
16.06
17.46
53.48
51.54
39.06
47.13
99.93
34.57
43.43
119.37
20.72
62.21
30.41
67.54
24.07
14.52
64.12
17.02
41.55
41.95
21.04
19.05
9.09
133.53
17.23
29.04
22.47
161.98
73.81
54.85
78.70
31.50
41.82
22.20
10.20
74.69
21.51
9.53
49.96
50.77
37.45
16.14
48.35
41.27
64.07
2.95
39.29
87.68
6.83
28.11
80.09
104.64
32.81
30.44
119.53
26.20
16.03
56.03
26.89
62.26
38.38
86.72
24.60
12.56
7.91
3.48
29.44
34.44
26.72
33.33
88.31
29.02
11.09
8.91
31.60
58.02
8.10
16.64
41.21
22.79
20.59
23.78
19.07
14.26
45.41
28.41
74.49
33.43
28.38
18.86
38.18
31.82
Forming Class-Intervals
Pie Chart
Arrests in 2012 under Gambling Act and Psychotropic Substances Act in Union
terriitories
LAKSHADWEEP, 0, 0%
PUDUCHERRY, 31, 3%
60
CHANDIGARH, 330, 34%
50
40
States
UT
30
20
10
Narcotic Drugs
and Psychotropic
Substances Act
Excise Act
Prohibition And
Explosive Act
Explosives
Substances Act
Immoral Traffic
(Prevention) Act
Ogive
1.0
0.2
0.5
0.1
0.0
Must be self-explanatory
Clear labels stating variables
Drawn to scale --- indicate unit
Simple and pleasant to look at and useful
0.0
0
10
20
Sales
30
40
50
10
20
30
40
50
Sales
Summarization
Dispersion
Computation of mean/median/mode
from grouped data
Mean use class mark
n +1
F
Median (m)=Lm + 2
wm , where Lm , f m , wm are the lower boundary,
fm
frequency and width of the class containing the median. F denotes the sum
of the frequencies of all the classes prior to the median.
Mode (M )=LM +
d1
wM , where d1 = f M f 1 , d 2 = f M f1
d1 + d 2
Measures of Dispersion
C.V. =
100%