BUSINESS MATHEMATICS AND STATISTICS I Sem MBA

Arranging data to convey meaning - Tables, Graphs and Frequency Distribution

Frequency Distribution: Is a tabular summary of data showing the number (frequency) of
observations in each of several non-overlapping class Interval
Constructing a Frequency Distribution
i. Decide the number of class Interval: 2k >N , where k represents the number of classes and
N the total number of observations.
ii. Determine the width of the class Intervals:
! "
=
# !$ %& ' ( ) (
iii. Determine class limits (or boundaries)
Methods of Data Classification:
Exclusive Method: When the data are classified in such a way that the upper limit of a class
interval is the lower limit of the succeeding class interval.
Inclusive Method: When the data are classified in such a way that both lower and upper
limits of a class interval are included in the interval itself.
1. The following set of numbers represents mutual fund prices reported at the end of a week
for selected 40 nationally solids
10 17 15 22 11 10 10 24 29 18
25 26 32 14 17 20 23 27 30 12
15 18 24 36 18 15 21 28 33 38
34 13 10 16 20 22 29 29 23 31
Arrange these prices into a frequency distribution having a suitable number of classes
2. Following are the number of items of similar type produced in a factory during the last 50
days
21 22 17 23 27 15 16 22 15 23
24 23 36 19 14 21 24 25 14 18
20 31 22 19 18 20 21 20 36 18
21 20 31 22 19 18 20 20 24 35
25 26 19 32 22 26 25 26 27 22
Arrange these observations into a frequency distribution with inclusive and exclusive class
intervals choosing of a suitable number of classes.
Graphs
4. Plot the line graph for the following data
Year 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
Imports 450 510 560 600 640 620 540 500 450 400
Exports 200 230 285 320 350 380 410 450 400 350
5. Draw a histogram for the following data:
CI 0-10 10-20 20-30 30-40 40-50 50-60 60-70 70-80 80-90 90-100

F 10 5 12 35 17 15 8 62 37 25
6. Draw a histogram for the following data distribution for pay scale of 200 workers in a
factory
Pay < 2,000 < 2500 < 3000 < 3,500 < 4,000 < 4,500 < 5,000
No of 35 59 71 86 102 159 200
workers
7. Given below are the marks obtained by 35 students in a class. Make a frequency table draw
a histogram and a frequency polygon from the frequency distribution
70, 60, 39, 65, 45, 63, 57, 42, 51, 71, 26, 63, 64, 69, 59, 54, 42, 33, 75, 65, 55, 41, 52, 64, 53,
82, 67, 61, 47, 41, 25, 36, 59, 63, 38
8. Draw a histogram and frequency polygon for the data given below:
BUSINESS MATHEMATICS AND STATISTICS I Sem MBA

Mid 2.5 7.5 12.5 17.5 22.5 27.5 32.5 37.5 42.5 47.5
Value
F 5 7 31 41 20 11 22 41 25 16
9. The following table gives the distribution of monthly income of 600 families in a certain
city.
Monthly Below 75 75-150 150-225 225-300 300-375 375 - 450 450 and
Income more
No of 60 170 200 60 50 40 20
families
Draw a less than and a more than ogive curve for the above data on the same graph
10. The production of a cement factory for five consecutive years in million tons, is shown
below, draw a Bar diagram
Year 1990 1991 1992 1993 1994
Production 10 14 17 20 15
11. The data on fund flow (Rs in crore) of an International Airport Authority during financial
years 2010-11, 2011-12 and 2012-13
2010-11 2011-12 2012-13
Non-traffic revenue 40 51 70
Traffic revenue 70 81 110
Profit after tax 40 51 80
Represent this data by a suitable bar chart (Multiple Bar Chart)
11. Represent the following data regarding the monthly expenditure of two families with a
suitable diagram (Sub-divided Bar diagram)
Item of Expenditure Family A Family B
Food 150 150
Clothing 100 60
Education 50 50
Others 190 70
Savings/Deficiency +10 -30
12. Represent the following data using Percentage Bar Diagram
Subject 2010-11 2011-12 2012-13
Number Number Number
Science 240 280 340
Humanities 560 610 570
Commerce 220 280 370
1020 1170 1280
13. The advertising expenditure for the companies are as follows
Company Tata Reliance Godrej M&M Bajaj Birla Others Total
Expenditure 600 1200 200 200 300 100 400 3000
Draw a pie chart for the following
14. Represent the following distribution by means of a Histogram and superimpose thereon
the corresponding frequency polygon and frequency curve:
Salary (Rs) No of employees Salary(Rs) No of employees
300-400 20 700-800 115
400-500 30 800-900 100
500-600 60 900-1000 60
600-700 75 1000-1200 40
BUSINESS MATHEMATICS AND STATISTICS I Sem MBA

Module 1 Central Tendency- Mean, Median and Mode

. .
MEAN Arithmetic Mean[*+,- = - -12. 01 *+,- = - -12. 31 01 ]
1. In a survey of 5 cement companies, the profit (in Rs lakhs) earned during a year was
15, 20, 10, 35, and 32. Find the arithmetic mean of the profit earned
2. If A, B, C and D are four chemicals costing Rs 15, Rs 12, Rs 8 and Rs 5 per 100 g,
respectively and are contained in a given compound in the ratio of 1, 2, 3 and 4 parts,
respectively, then what should be the price of the resultant compound
3. From the following information on the number of defective components in 1000
boxes
No of 0 1 2 3 4 5 6
defective
components
No of 25 306 402 200 51 10 6
boxes
Calculate the Arithmetic mean of defective components for the whole of the
production line.
Short-cut Method Ungrouped Data
-
.
*+,- 4 = 5 + 7 81 , :;+<+ 81 = 01 5 , 5 1> ,>>?@+8 @+,-
-
12.
.
*+,- 4 = 5 + -12. 31 81 , :;+<+ 81 = 01 5 , 5 1> ,>>?@+8 @+,-
-
4. The daily earnings (in rupees) of employees working on a daily basis in a firm are:
Daily Earnings: 100 120 140 160 180 200 220
No of Employees: 3 6 10 15 24 42 75
Calculate the average daily earning for all employees
5. The HR manager at a city hospital began a study of the overtime hours of a registered
nurses. Fifteen nurses were selected at random and following overtime hours during a
month were recorded:
13 13 12 15 5 12 6 7 12 10 9 13
12 5 9 6 10 5 6 9 6 12 7 15
9.
Calculate the arithmetic mean of overtime hours during the month
Arithmetic Mean of Grouped (or classified) Data Direct Method
.
*+,- = - -12. 31 @1 , mi mid value of CI
6. A company is planning to improve plant safety. For this, accident data for the last 50
weeks was compiled. These data are grouped into the frequency distribution as shown
below: Calculate the A.M of the number of accidents per week.
No of Accidents 0-4 5-9 10-14 15-19 20-24
Number of weeks 5 22 13 8 2
7. Compute the average service time for the place
CI 0-10 10-20 20-30 30-40 40-50 50-60
F 6 5 8 12 5 15
31 81
Step Deviation Method*+,- = 5 + 31
0 ;, :;+<+
8. Calculate the arithmetic mean of accidents per week by the short cut method for the above
problem.
BUSINESS MATHEMATICS AND STATISTICS I Sem MBA

9. The following distribution gives the pattern of overtime work done by 100 employees of a
company. Calculate the average overtime work done per employee
Overtime 10-15 15-20 20-25 25-30 30-35 35-40
hours
Number of 11 20 35 20 8 6
employees
10. Calculate the Arithmetic Mean by Step Deviation Method for the following Data
CI 0 - 10 10 20 20 - 30 30 40 40 - 50 50 -60 60-70
F 7 9 15 11 27 18 5
11. In an examination of 675 candidates, the examiner supplied the following information:
Marks Obtained Number of Marks Obtained Number of
Candidates Candidates
Less than 10 7 Less than 50 381
Less than 20 39 Less than 60 545
Less than 30 95 Less than 70 631
Less than 40 201 Less than 80 675
Calculate the mean percentage of marks obtained
12. Find the missing frequencies in the following frequency distribution. The A.M of the
given data is 11.09
CI Frequency CI Frequency
9.3-9.7 2 11.3- 11.7 14
9.8-10.2 5 11.8-12.2 6
10.3-11.7 f3 12.3-12.7 3
11.8 11.2 f4 12.8-13.2 1
13. (a) The average dividend declared by a group of 10 chemical companies was 18 percent.
Later on it was discovered that one correct figure 12, was misread as 22. Find the correct
average dividend
(b) The mean of 200 observations was 50. Later on it was found that the two observations
were misread as 92 and 8 instead of 192 and 88. Find the correct mean
14. The annual salaries ( in rupees) of employees in an organization are given below. The
total salary of 10 employees in the class over Rs 40,000 is Rs 9,00,000. Compute the mean
salary. Every employee belonging to the top 25% of earners has to pay 5% of his salary to the
workers relief fund. Estimate the contribution to this fund
15. The mean salary paid to 1500 employees of an organization was found to be Rs 12,500.
Later on after disbursement of salary, it was discovered that the salary of two employees was
wrongly entered as Rs 15,760 and 9,590. Their correct salaries were Rs 17,760 and 8,500.
Calculate the correct mean.
0 :
Weighted Arithmetic Mean A5* = 1 1 , where wi is the weightage
:1
16. Calculate the Weighted Average Mean
Subject Marks A Marks B Weightage (Wi)
Hindi 67 76 1
English 85 58 2
Physics 87 78 3
Mathematics 79 97 4
Chemistry 95 59 5
17. The mean of the following frequency distribution is 50. Calculate the missing frequencies
CI 0 20 20 -40 40 60 60 - 80 80 -100
F 17 F1 32 F2 19
BUSINESS MATHEMATICS AND STATISTICS I Sem MBA

Geometric and Harmonic MEAN, Median and Mode

If X1,X2,X3 Xn are the given n observations then their GM is given by
B. D = X1. X2. X3 Xn
L

1
B. D = M N[ 7 NP]
For continuous frequency distribution:
R
B. D = M N[S NP]
18. Find the GM of 2, 4, 8, 12, 16 and 24
19. Find the Geometric mean of the following distribution
CI 0 10 10 -20 20 30 30 - 40 40 -50
F 4 7 13 21 15
Compound Interest Formula
- T
T- = TU . + < -
or < = V - . where TU - the value at the beginning of the period
T U
T- the value at the end of period n , r rate of change , n length of time period
20. In 2005 and 2014 the population of India was 120 million and 131.5 respectively
(a) what was the average percentage per year (b) Estimate the population in 2020
(c) If the average percentage increase of population per year from 2014 to 2028 is the same
as in part (a) what would be the population in 2028.
Harmonic Mean: If X1,X2,X3 Xn are the given n observations then their H.M is given
by
X X X
W. * = . . . . = . Continuous Series: W. * = 3
Y4 Y4 Y..Y4
4 . Z [ 4 - 4
21. The following table gives the weights of 31 persons in a sample enquiry. Calculate the
mean weight using (i) geometric mean ii) harmonic mean

Weights 130 135 140 145 146 148 149 150 157
(X)
F 3 4 6 7 6 3 4 1 1
22. An investor buys Rs 1,200 worth of shares in a company of shares in a company each
month. During the first 5 months he bought the shares at a price of Rs 10, Rs 12, Rs 15, Rs 20
and Rs 24 per share. After 5 months what is the average price paid for the shares by him
X
^3
*+81,- = ] + Z 3
01 l is the lower limit of the class interval, N sum total of the
frequencies, cf cumulative frequency of the class preceding the median class, f frequency
of the median class, i- width of the class interval

23. Calculate the value of median from the following data:

Marks 1-5 6-10 11-15 16-20 21-25
No of students 6 9 15 12 8
24. Compute median after amending table:

CI: 10-15 15-17.5 17.5-20 22-30 30-35 35-40 45-Above

F: 10 15 17 25 28 30 40

25. Calculate the Median from the following data:

BUSINESS MATHEMATICS AND STATISTICS I Sem MBA

X: Less than 5 Less than 10 5-15 15 & above 20-25 25 & above 30 & above

F: 07 20 38 55 20 05 01

26. From the following data, draw less than ogive curve and locate the value of median graphically
Marks No of students
Less than 100 17
Less than 200 25
Less than 300 36
Less than 400 42
Less than 500 64
Less than 600 75

27. From the following data calculate quartiles:

Size 10-19 20-29 30-39 40-49 50-59 60-69

Frequency 15 16 28 28 14 9

28. The following data gives the distribution of marks of 100 students. Calculate the most suitable
average, giving the reason for your choice. Also obtain the values of the quartiles, 6th decile, and 70th
percentile from the following data

Marks <10 < 20 < 30 < 40 < 50 < 60 < 70 < 80

Frequency 5 13 20 28 64 80 90 100

29. Calculate Mode from the following data:

C.I 0-5 5-10 10-15 15-20 20-25 25-30 30-35 35-40 40-45 Total

No of 29 195 241 117 52 10 06 3 2 655

students

30. Determine the value of mode graphically and verify the result

Expenditure(Rs) 0-10 10-20 20-30 30-40 40-50

No of families 14 23 27 21 15

31. The following are the prices of shares of Tata Motors from Monday to Friday

275, 325, 310, 175, 355. Calculate the range and its coefficient

32. Calculate Co-efficient of Range from the following data:

Marks 10-20 20-30 30-40 40-50 50-60

Frequency 8 13 12 8 4

33. Compute coefficient of quartile deviation from the following data:

Marks: 10 20 30 40 50 60
BUSINESS MATHEMATICS AND STATISTICS I Sem MBA

No of 4 7 15 8 7 2

34. Calculate the Quartile Deviation from the following data:

Weekly 0 -20 20-40 40 -60 60-80 80- 100 100 -120 120-130

No of 20 30 50 60 80 40 20
workers

35. Calculate mean deviation from mean of the following data:

Marks(less than) 10 20 30 40 50 60 70
No of Students 4 10 20 40 48 55 60
36. Compute mean deviation from median:

Wages(Rs): 10-20 20-30 30-40 40-50 50-60 60-70 70-80 80-90

No of workers 8 10 15 25 20 18 9 5

37. Calculate standard deviation for the following data:

Mid Point: 1 2 3 4 5 6 7 8 9
Frequency: 6 45 103 147 205 160 80 40 4
38. The Arithmetic Mean of runs scored by three batsmen A, B and C in a series of 10 innings are 50,

48 and 12 respectively. The standard deviation of their runs are 15, 12 and 2 respectively. Find out
who is the most consistent batsman

39.

A B

Mean 200 175

Standard Deviation 30 30

a. Distribution A has the same Standard Deviation of B. Comment on their variability

b. Co-efficient of variation of a series is 40% and its variance is 144. What is the mean?

40. A mobile dealer received samples of mobile from two suppliers C and D. He had the samples
tested for length of life with the following results:
Length of life in months 7-14 14-21 28-35 35-42
Supplier C 13 15 27 9
Supplier D 5 41 12 11
Which suppliers mobile are mobiles are more uniform regarding their length of life?

41. From the following calculate co-efficient of skewness based on mean and mode and standard
deviation:
Size 0-4 4-8 8-12 12-18 16-20 20-24
F: 2 6 8 20 5 4
42. For a moderately skewed data, the arithmetic mean is 0.125, the co-efficient of variation is 8% and
Karl Pearsons coefficient of skewness is 0.25. Find the mode and the median.
BUSINESS MATHEMATICS AND STATISTICS I Sem MBA

43. The sum of 50 observations is 500 and the sum of their squares is 6,000 and median is 12.
Compute the co-efficient of variation and the co-efficient of variation and the co-efficient of skewness

44. Calculate the co-efficient of skewness from the following data by using quartiles

Annual Less Less Less Less Less Less Less Less Less
Sales than than than than than than than than than
20 30 40 50 60 70 80 90 100

No of 30 225 465 580 634 644 650 665 680

times

Case-lets for 8 or 12 marks

1. .The following data relates to the total fat in grams per serving for a sample of 20
burgers from fast food chains:
7,8,4,5,16,20,20,24,19,30,23,30,25,19,29,29,30,30,40 and 56
a. Compute the mean, median, first quartile, and third quartile.
b. Compute the range, interquartile range, variance, standard deviation, and
coefficient of variation.
c. Are the data skewed? If so, how?
d. Write a report summarizing your conclusions.

2. A bank branch located in a commercial district of a city has developed an improved

process for serving customers during the noon-to-1:00 p.m. lunch period. The waiting
time, in minutes (defined as the time the customer enters the line to when he or she
reaches the teller window), of a sample of 15 customers during this hour is recorded
over a period of one week. The results are listed below:
4.21, 5.55, 3.02, 5.13, 4.77, 2.34, 3.54, 3.20, 4.50, 6.10, 0.38, 5.12, 6.46, 6.19 and
3.79
a. Compute the mean, median, first quartile, and third quartile.
b. Compute the variance, standard deviation, range, interquartile range,
coefficient of variation, and Z scores. Are there any outliers? Explain.
c. Are the data skewed? If so, how?
d. As a customer walks into the branch office during the lunch hour, she asks the
branch manager how long she can expect to wait. The branch manager replies,
Almost certainly less than five minutes. On the basis of the results of (a)
through (c), evaluate the accuracy of this statement.