ASSIGNMENT

BUSINESS STATISTICS
MGT 2113
SEMESTER I 2022 (JAN-MAY 2022)
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a.1. WHAT IS STATISTICS

 Statistics is procedures and methods for collecting, organizing, summarizing, presenting and
analyzing, as well as obtaining useful information, drawing valid conclusions and making effective
decisions based on the analysis.

These is why do we need statistics. Statistics is used in almost fields of human endeavor, for
example:

 In sports, statistician may keep record for how many time a player win in any game or the
number of hits a baseball player gets in a season.
 In public health an administrator might be concerned with the number of residents who
contract a new strain of flu virus during a certain year.
 In education, a researcher want to know if new methods of teaching are better than old
ones.
 Furthermore, statistics is used to analyze the results of surveys and as a tool in scientific
research to make decisions based on controlled experiments.
 Other user of statistics include operations research, quality control, estimation, and
prediction.

There are two types of statistics :

I. DESCRIPTIVE STATISTICS
 A procedures used need to summarize, organize, and make sense of a set of scores,
measurements or observations, which known as data
 Typically presented graphically
 Do not attempt to make prediction and draw conclusions about the population from which
the sample are taken describe data for example, a chart or graph.
II. INFERENTIAL STATISTICS
 A procedures used that allow to infer, estimate, approximate, determination of association
between two variables, generalize observations make with sample to population from which
they were selected.
 Concerned with making prediction or inference and drawing conclusions about a population,
based on sample allows you to make predictions from the data.

2.a. Population:

 A set of all items

Example: 10 Millions students

b. Sample:

 A set of items selected from population

Example: 10 000 student are randomly selected

c. Variable
  A characteristic of the population of interest

Example: What is your monthly income ?

3. Five types of correlation between two variables and scatter diagrams

I. Strong positive correlation

The value of Y increases as the value of X increases.

II. Weak positive correlation

The value of Y decreases as the value of X increases.

III. No correlation
There is no demonstrated connection between the two viriables.

IV. Strong negative correlation

The of Y increases slightly as the value of X increases.

V. Weak negative correlation

The value of Y decreases slightly as the value of X increases.

4. A null hypothesis is a type of conjecture in statistics that proposes that there are no differences
between certain characteristics of a populations or data-generating process. As an example, a gambler
may be interested in game whether a game of chance is fair. If it is fair, the expected earnings per play
comes to zero for both players while if it is not fair, then the game expected earnings are positive for
one player and negative for the other players. In conclusion, to test whether the game is fair, the
gamblers collects earnings data from repetitions of the game and calculates the average earnings from
these data, then tests the null hypothesis that the expected earnings are not from zero.

5.a. S= [H, T, 1, 2, 3, 4, 5, 6] n(s) = 8

A = [T] s(A) = 1

P(A) = n(A)/n(S) = 1/8

B = [5, 6] n(B) = 2

P(A) = n(A)/n(S) = 2/8 or 1/4

The probability of getting tails is 1/8 while the probability of getting number greater than 4 on a dice
is 2/8 or 1/4.