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Aryan Purwar (70924588823) Business Stats Assignment

This document contains a business statistics assignment submitted by Aryan Purwar to Pooja Bisht. It includes 3 questions - the first asks to plot a histogram using income data, the second finds the mean, median, and mode of another data set, and the third computes the coefficient of variation to determine the more consistent of two teams. The document also provides definitions and differences between variance and standard deviation.

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Aryan Purwar
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21 views11 pages

Aryan Purwar (70924588823) Business Stats Assignment

This document contains a business statistics assignment submitted by Aryan Purwar to Pooja Bisht. It includes 3 questions - the first asks to plot a histogram using income data, the second finds the mean, median, and mode of another data set, and the third computes the coefficient of variation to determine the more consistent of two teams. The document also provides definitions and differences between variance and standard deviation.

Uploaded by

Aryan Purwar
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Jagannath International Management School,

Kalka Ji, Delhi.

Subject – BUSINESS STATISTICS

Name- Aryan Purwar


Course- B.Com(Hons.)
Submitted to – Pooja Bisht
Question 1 - Plot a histogram depicting the following data.

Weekly Income Number Of Families


2000-4000 20
4000-6000 40
6000-8000 50
8000-10000 32
10000-12000 16
12000-14000 2

i. Identify the type of data given [2 mark].


Answer – The data given is a Continuous data.

ii. Plotting the data on the excel.


Answer –

Weekly Income Number Of Families


2000-4000 20
4000-6000 40
6000-8000 50
8000-10000 32
10000-12000 16
12000-14000 2

iii. Plotting the histogram using the graph paper.


Answer –
Question 2- Find the mean, median and mode from the following distribution of data:

Class Interval Frequency


0-20 30
20-40 33
40-60 32
60-80 35
80-100 37
100-120 24

𝜮(𝒎∗𝒇)
Answer - Mean =
𝜮𝒇
Class Interval Frequency m m*f
0-20 30 10 300
20-40 33 30 990
40-60 32 50 1600
60-80 35 70 2450
80-100 37 90 3330
100-120 24 110 2640
Σf= 191 Σ(m*f)=11310
𝜮(𝒎∗𝒇)
Mean =
𝜮𝒇
11310
Mean = = 59.2146 (Ans)
191

𝒇𝟏−𝒇𝟎
Mode (Z)= 𝒍 + ∗𝒊
𝟐𝒇𝟏−𝒇𝟎−𝒇𝟐

Class Interval Frequency


0-20 30
20-40 33
40-60 32
60-80 35
80-100 37
100-120 24
Modal Class = 80-100
Where, l is lower limit = 80
37−35
Mode= 80 + ∗ 20
2∗37−35−24

Mode= 82.666(Ans)
𝑵
−𝒄.𝒇.
𝟐
Median = 𝒍𝟏 + ∗𝒊
𝒇
Class Interval Frequency C.F
0-20 30 30
20-40 33 63
40-60 32 95
60-80 35 130
80-100 37 167
100-120 24 191

𝑵 𝟏𝟗𝟏
= = = 95.5
𝟐 𝟐
Median class = 60-80
95.5−95
Median =60 + ∗ 20
35

Median= 60.2857 (Ans)

Question 3- Compute the Coefficient of Variation of the following data set,


which team is more consistent?

Mean Standard Deviation


Team A 100 12
Team B 80 10
𝜎
Coefficient of Variation = ∗ 100
µ
𝛴𝑥
µ=
𝑛
12
Coefficient of Variance for TEAM A = ∗ 100 = 12%
100
10
Coefficient of Variance for TEAM B= ∗ 100 = 12.5%
80

The more consistent team is TEAM B.


Difference between Standard Deviation and Variance:-
Variance Standard Deviation
 Variance is a numerical  Standard deviation is a
value that describes the measure of dispersion of
variability of observations observations within a data
from its arithmetic mean. set.
 It is the average of squared  It is the root mean square
deviations. deviation.
 Sigma-squared (σ^2)  Sigma (σ)
 How far individuals in a  How much observations of a
group are spread out. data set differs from its
mean.
 Squared units  Same units as the values in
the set of data.

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