Quantitative Method for Business - Alternative Assessment

QUANTITATIVE METHOD FOR BUSINES
ALTERNATIVE ASSESSMENT

Contents
QUESTION 1..............................................................................................................................................3
1)a) Calculation of mean.........................................................................................................................3
B) Calculation of standard deviation.......................................................................................................3
C) Interpretation......................................................................................................................................3
2) Explanation of sampling methods.......................................................................................................3
3) Formulation of Cumulative frequency.................................................................................................3
QUESTION 3..............................................................................................................................................3
Calculation of probability........................................................................................................................3
QUESTION4...............................................................................................................................................3
Calculation of correlation coefficient by using Spearman‘s method........................................................3
Calculation of correlation of coefficient by using Karl Pearson method..................................................3

QUESTION 1
1)a) Calculation of mean
Particular Frequency Mid
Value
Cumulative
frequency
D D’ Fd Ɖ fdx
30-35 17 32.5 17 -10 -2 -34 4 68
35-40 24 37.45 41 -5 -1 -24 1 24
40-45 19 42.5 60 0 0 0 0 0
45-50 28 47.5 88 5 -1 28 1 28
50-55 19 52.5 107 10 2 38 4 76
55-60 13 575 120 15 3 39 9 117
120 47 313
B) Calculation of standard deviation
Standard Deviation=n−1∑i=1n(xi−x)2where:xi=Value of the ith point in the data setx=The mean
value of the data setn=The number of data point in the data set
Standard deviation= 12.23
C) Interpretation
Interpretation

Mean: It is the most useful measure f central tendency which use for quantitative measurement It
is use for representing the entire data by one value which is known as mean. Its vale is obtained
by adding together all the terms and by dividing this total by number of items. In statistics,
the standard deviation is a measure of the amount of variation or dispersion of a set of values. A
low standard deviation indicates that the values tend to be close to the mean of the set, while a
high standard deviation indicates that the values are spread out over a wider range. Standard
deviation may be abbreviated SD, and is most commonly represented in mathematical texts and
equations by the lower case Greek letter sigma σ, for the population standard deviation, or the
Latin letter s, for the sample standard deviation. (For other uses of the symbol σ in science and
mathematics see the main article.) The standard deviation of a random variable, statistical
population, data set, or probability distribution is the square root of its variance. It
is algebraically simpler, though in practice less robust, than the average absolute deviation.
KEY TAKEAWAYS Standard deviation measures the dispersion of a dataset relative to its
mean. A volatile stock has a high standard deviation, while the deviation of a stable blue-chip
stock is usually rather low. As a downside, it calculates all uncertainty as risk, even when it’s in
the investor's favor—such as above average returns.
deviation: It is also known as root mean square deviation it is the part of dispersion technique,
deviation is calculated by taking deviation from the asthmatic mean first and by adding together
all the terms and by dividing this total by numbers of terms.
deviation It is also known as foul mean square deviation it is the part of dispersion technique,
Standard deviation is calculated by taking deviation from the asthmatic mean first and then
summing this square five these deviation. The difference between mean deviation and standard.
Under short cut method if common factor is possible in the series step deviation can be use. In
this case to calculate stand deviation step deviation method has ben used. By common factor
devatonsare firsty divided befor preceding to next step.
2) Explanation of sampling methods
Sampling is part of statistical technique which is used by researchers for collection of data for
estimate the characteristics of the selected data. A sample can be known as group of people who
have been selected from larger population to provide data to researcher. There will be many
types of sampling which includes deliberate sampling, stratified, simple, mixed, quota self
selected sampling. All these are useful for achieve the objective of research by collecting
relevant data. Following are the discriminating of various types of sampling
Simple random sampling: Under this method some of the units are selected out of the entire
population on a casual Basis and every unit has an equal opportunity of being selected. Since this
method is free from bias of the investigator and since the likelihood of a unit being selected is
equal to that of the other this sample can be very truly represented the entire universe. Random
sampling includes various method, lottery method, ratting of drum method, regular MARKING
METHOD, IRREGULAR MARKING METHOD, PRINKING BILINFOLDS METHODS.
Example: 25 out of 250 employees has been selected for going on trip to London on randomly
basis. For this propose chances of exception of each employee will be 1/250 as everyone have