NMIMS Global Access

School for Continuing Education (NGA-SCE)

Course: Business Statistics

Internal Assignment Applicable for September 2020 Examination

1. The sales figures of two firms (in million Rs.) calculated over a period of time

are as follows:

FIRM A 120 100 110 80 90 70 50 60 40

FIRM B 50 40 60 90 80 70 110 100 120

a. MEAN

MEAN: µ = x 1+ x 2+ x 3+ x 4+ x 5+ x 6+ X 7+ x 8+ x 9
N

MEAN = µ

whereas, x1= Sales figure of firm every year

N = total number of years

Mean of sales figures of Firm A = 120 + 100 + 110 + 80 + 90 + 70 + 50 + 60 + 40 = 720 = 80
9 9

Mean of sales figures of Firm B = 50 + 40 + 60 + 90 + 80 + 70 + 110 + 100 + 120 = 720 = 80

9 9

√
N
STANDARD DEVIATION= σ = 1 ∑ ¿ ¿ ¿
N i=1

STANDARD DEVIATION = σ
Part of the formula : ¿
And, ¿ + ¿+…. = ∑

FIRM A =

(120-80)2 =1600
+ (100-80)2 = 400
+ (110-80)2 = 900
+ (80-80)2 =0
+ (90-80)2 =100
+ (70-80)2 =100
+ (50-80)2 =900
+ (60-80)2 =400
+ (40-80)2 =1600
= 6000

So,
∑= 6000
µ= 80
N= 9
1
σ = 9 x 6000 = √ 666.66 or 25.81

FIRM B =

(50-80)2 =900
+ (40-80)2 = 1600
+ (60-80)2 = 400
+ (90-80)2 =100
+ (80-80)2 = 0
+ (70-80)2 = 100
+ (110-80)2 = 900
+ (100-80)2 = 400
+ (120-80)2 =1600
= 6000

So,
∑= 6000
µ= 80
N= 9
1
σ = 9 x 6000 = √ 666.66 or 25.81