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    statistics statistics Document Transcript

      • [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.