SUBJECT – BUSINESS STATISTICS FOR

DECISION MAKING

TYPE – ASSIGNMENT
MONTH – NOVEMBER 2022

Ans 1)
Various jobs are assigned to different people depending on
the size of the organisation. For instance, in more prestigious
companies, product managers are included in teams of
professionals. Analysts, scientists, and marketers help with
data collection while programmers and designers handle day-
to-day implementation, build layouts, test prototypes, and
identify bugs. Despite having stronger support, these product
managers also spend more effort convincing these
stakeholders to support a certain vision.

CONCEPT BEHIND WEIGHTED ARITHMETIC MEAN:

A technique known as a weighted average accounts for the
varied levels of significance of the values in a data collection.
Each value in the data set is multiplied by a predefined
weight before the final computation is completed when
computing a weighted average.
A weighted average, in which each value in a data collection
is given an equal weight, can be more accurate than a simple
average.
A simple average, also known as an arithmetic mean, is
calculated by giving each value the same treatment and
weight. The proportional relevance of each data point is
predetermined by the weights that are assigned in a
weighted average, however.
Most frequently, a weighted average is calculated to balance
the frequency of the values in a data collection.
A weighted average, as opposed to a basic average, takes
into account the relative weight or contribution of the items
being averaged. As a result, it assigns greater weight to the
average things that happen comparatively more frequently.

Formula Used Here = (Weight(%)/100)i.(Respective

marks)i
Therefore, Weighted Arithmetic Mean = (40/100)*91 +
(10/100)*95 + (30/100)*86 + (20/100)*96
= 0.4*91 + 0.1*95 + 0.3*86 + 0.2*96
= 36.40 + 9.5 + 25.8 + 19.2
= 90.9% or 91%(Rounded Off)

CONCLUSION:
Ms Anjali Saproo Has a Chance of Getting this Job as Her
Weighted Mean > Required Percentage

ANS 2)
X Y XY X2 Y2
18 1 18 324 1
24 1 24 576 1
45 1 45 2025 1
65 1 65 4225 1
133 1 133 17689 1
134 2 268 17956 4
134 2 268 17956 4
168 2 336 28224 4
187 2 374 34969 4
197 2 394 38809 4
252 3 756 63504 9
270 3 810 72900 9
270 3 810 72900 9
275 3 825 75625 9
397 3 1191 157609 9
444 3 1332 197136 9
453 3 1359 205209 9
593 4 2372 351649 16
637 4 2548 405769 16
841 5 4205 707281 25
862 5 4310 743044 25
906 5 4530 820836 25
947 5 4735 896809 25
961 5 4805 923521 25
SUM= SUM= SUM= SUM= SUM=
9213 69 35181 5856545 245

, where n=24
Therefore ,
bxy = [24(35181) – (9213)(69)]/[24(5856545) – (9213)**2]
= [844344 – 635697]/[140557080 – 84879369]
= 208647/55977711
bxy = 0.00372

x’ = SUM(X)/n = 9213/24 = 383.75

y’ = SUM(Y)/n = 69/24 = 2.875
Therefore , Line Of Regression Of Y on X is equal to ,
y – y’ = bxy(x – x’)
y – 2.875 = 0.00372(x – 383.75) = 0.00372x – 1.42755
Hence , y = 0.00372(x) + 1.44745
GRAPH:

ANS 3-a)
INTRODUCTION:
The number of subjects involved in a sample size is referred
to as the sample size in market research. A set of people
chosen from the general community who are thought to be a
representative sample size for that particular research is
referred to as the sample size.

For instance, we may test a new product on a sample size

that is typical of the target population in order to forecast
how the people in a certain age group would respond to it.
The number of participants in that age group who will be
polled will determine the sample size in this situation.
CONCEPT AND THEORY:
The use of statistical formulae to calculate sample size
necessitates, first and foremost, the selection of a meaningful
benchmark for the measures to be taken based on the
findings of the qualitative study to be conducted. Typically,
the researcher has two options in this regard:

It can keep track of how variables are measured and identify

certain indications that reflect how they are changing. Thus,
the researcher may use the idea of sampling in connection to
the variables under investigation to determine the frequency
of visitation of a commercial unit and the suitable indicator
representing this variable to be the weekly average
frequency of visiting the group in question.
It might have as its goal analysing particular characteristics of
the marketing phenomena under investigation. The choice of
this alternative is described in the specialised literature as
falling under the sampling concept with the investigated
characteristics. As an illustration, the researcher might seek
to identify consumer preferences for the interior
arrangement of a commercial unit by evaluating a set of
representative attributes for the interior design.
Several distinct actions are involved in the sampling size
procedure, including:

* identifying the demographic that will be the focus of the

study;
* selecting the sample frame's size;

* deciding on the sampling size technique;

* determining the criteria for choosing the sample size units;

* calculating the sample size's mother;

* selecting the sample size's real units;

* Engaging in field work.

NOTE: In proportion to the population, random samples are
drawn from stratified groups using proportional stratified
random sampling. The strata are not representative of the
population's distribution in disproportionate sampling.
Following is the data sample of the Active companies of
Ladakh sorted according to the sample size of 20
Ans 3-b)
Data classification refers to the process of classifying data
into appropriate categories for effective use. It makes it
easier to swiftly find and retrieve info. When it comes to
security, compliance, and risk management, this approach is
essential
Data classification refers to labelling data so that it may be
monitored more readily. Additionally, it gets rid of duplicate
data, which frees up storage space, reduces backup costs,
and speeds up search.
The researcher or analyst collects a variety of data types in
order to undertake statistical analysis. The information
obtained is typically in raw form, making analysis challenging.
The raw data is transformed or categorised into distinct
groups depending on their properties to make the analysis
understandable and simple. The classification of data refers
to this division of the data into several groups or classes
having comparable or homogenous properties.
Particularly important to risk management, compliance, and
data security is data categorization.
Basis for Data Classification:
The classification of statistical data is often done on four
bases: geographical location, chronology, qualitative
features, and quantitative characteristics. It is done after
evaluating the extent, type, and aim of research.

ON THE BASIS OF GEOGRAPHICAL LOCATION:

Geographical or spatial categorization is the division of data
into categories based on place or geography. For instance,
the population of several states within a nation is displayed
according to their location or area.

ON THE BASIS OF CHRONOLOGY:

The classification of data with respect to different time periods is
known as Chronological or Temporal Classification

ON THE BASIS OF QUALITATIVE CHARACTERISTICS:

Qualitative classification is the classification of data based on
qualitative or descriptive factors such as area, caste, sex, gender,
education, etc.

ON THE BASIS OF MANIFOLDS:

The process of classifying supplied data into several classes and
further sub-classifying it into other classes based on more than one
feature is referred to as manifold classification.

The data type described above is a form of MANIFOLD

CLASSIFIATION because the data set that was provided was
separated into additional data subsets based on certain criteria and
that further subsets were further divided based on a number of
other criteria.