[Type the company name]BUSINESS STATISTICSNAGINDAS KHANDWALA COLLEGE OF MANAGEMENT STUDIESTOPIC: - MONTHLY HOUSE HOLD EXPENSESProf . RAOGroup membersYash Ajmera 105Rohit Gada 119Reena Jadhav 124Anik Kansara 133Nimesh Panchal 150Ashwini Panchal 161
Introduction to Statistics It is interesting to see the reputation of statistics. Disraeli said there are three kinds of lies- lies, damned lies and statistics. One of the more amusing and informative book by Darrel Hutf is entitled “How to lie with statistics”. Besides the errors that statisticians make, the use of Jargon makes the layman suspicious of statistics. People feel that statistics can be used to prove any dishonest thesis. By studying statistics, people can make sure that they will not be lied to buy any statistician, using statistics in an improper manner. By proper education, ignorance and error can be reduced. The word statistics describe several concept of importance to decision- maker. It is important for a beginner to have a understanding of this statistical concepts. Statistics has a precise technical meaning. Measures derived from the sample data are referred to a statistics. If only one measure is obtained is called as statistic. A SURVEY WAS CONDUCTED BY US IN F.Y.B.M.S. ‘A’ DIV REGARDING THEIR MONTHLY HOUSE HOLD EXPENSES. STUDENTS WERE TOLD TO ASK THEIR PARENTS REGARDING THE MONTHLY HOUSE HOLD EXPENSES. THE DATA OBTAINED WAS AS FOLLOWS :-
Roll no.Monthly house hold expenses(in Rs) (x)10115,00010216,00010320,00010412,00010510,00010610717,00010830,00010917,0001109,0001117,00011225,50011318,50011414,00011512,00011611,00011726,00011813,50011914,00012017,000121-12221,00012317,50012419,50012513,0001264,00012717,00012814,50012912,0001303,0001313,50013217,50013325,00013417,50013513,50013618,00013724,00013814,000139-14014,0001412,5001427,00014328,00014429,00014519,0001466,50014710,0001488,50014923,00015026,50015110,00015224,50015312,00015417,00015523,00015618,00015727,00015828,00015928,00016014,0001617,500162 17,00016324,000
FREQUENCY DISTRIBUTION TABLE OF ABOVE DATA Monthly ExpensesTally MarksNo. of Students0 – 5,000IIII45,000 – 10,000IIII I610,000 – 15,000IIII IIII IIII II1715,000 – 20,000IIII IIII IIII I1620,000 – 25,000IIII II725,000 – 30,000IIII IIII10TOTAL60 DATA NOT AVAILABLE FOR Roll no. :- 106 , 121 , 139 PIE DIAGRAM OF ABOVE DATA NO. OF STUDENTS HISTOGRAM OF ABOVE DATA In The batch of 60 students the monthly house hold expense obtained by statistics in the class are as follows Calculate the ARITHMETIC MEAN of Monthly house hold expense – Mean x = ∑ x n x = 983,000 = 16,383.33 60 The ARITHMETIC MEAN OF THE ABOVE OBSERVATION IS Rs. 16,383. ARITHMETIC MEDIAN OF THE ABOVE OBSERVATION Monthly ExpensesNo. of StudentsLess than cumulative frequency0 – 5,000445,000 – 10,00061010,000 – 15,000172715,000 – 20,000164320,000 – 25,00075025,000 – 30,0001060TOTAL60 ARITHEMATIC MODE Monthly ExpensesNo. of Students0 – 5,00045,000 – 10,000610,000 – 15,0001715,000 – 20,0001620,000 – 25,000725,000 – 30,00010TOTAL60 Quartile Deviation Monthly ExpensesNo. of StudentsLess than cumulative frequency0 – 5,000445,000 – 10,00061010,000 – 15,000172715,000 – 20,000164320,000 – 25,00075025,000 – 30,0001060TOTAL60 Standard Deviation Monthly ExpensesNo. of Students (f)Mid – Value (x)u= x-12,500 5,000fufu*u0 – 5,00042,500-2-8165,000 – 10,00067,500-1-6610,000 – 15,0001712,50000015,000 – 20,0001617,5001161620,000 – 25,000722,5002142825,000 – 30,0001027,500330906046156 CONCLUSION :- From the above Statistical method we conclude that Statistics is not only used in house hold but also use in corporate sector, industrial sector, agriculture sector, etc. Thus we conclude that statistics is very important in our day to day life. The point we conclude is statistics is not an abstract subject but it is a practical subject in this modern world.