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Bachelor of Business Administration – BBA Semester 1
BBA104 - Quantitative Techniques in Business – 2 Credits
(Book ID: B1500)
Assignment - 30 marks
Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400
words. Each question is followed by evaluation scheme.
Q.1 Statistics plays a vital role in almost every facet of human life. Define Statistics. Explain the applications of
statistics in business and management.
(Meaning – 3 marks, Applications – 7 marks) 10 marks
Answer : Statistics :
A type of mathematical analysis involving the use of quantified representations, models and summaries for a
given set of empirical data or real world observations. Statistical analysis involves the process of collecting and
analyzing data and then summarizing the data into a numerical form. Statistics is a general term used to
summarize a process that an analyst, mathematician or statistician can use to characterize a data set.
Q2. A study of different sampling methods is necessary because precision, accuracy, and efficiency of the
sample results depend on the method employed for selecting the sample. Explain the Probability and Non-
probability sampling methods.
(Probability sampling methods- 5 marks, Non-probability sampling methods – 5 marks) 10 marks
Answer : Probability sampling methods :
A probability sampling is one in which every unit in the population has a chance (greater than zero) of being
selected in the sample, and this probability can be accurately determined. The combination of these traits makes
it possible to produce unbiased estimates of population totals, by weighting sampled units according to their
probability of selection
Q3. Construct a consumer price index for the information given by using

2. (i) Aggregate expenditure method,
(ii) Family budget method.
(Formula- 2 marks, Calculation- 6 marks, Solution to the problem-2 marks) 10 marks
Commodities Quantity 2007
Q0
Unit P0 P1
2007 2008
A 7 Quintal 300 310
B 5 Quintal 305 308
C 4 Quintal 416 419
D 9 Quintal 530 625
E 3 K.G. 18 23
F 5 Quintal 1050 1070
Answer : There are two methods for the compute of consumer price index numbers.
(1) Aggregate expenditure method
(2) Family Budget Method
(1) Aggregate expenditure method:
In this method, the quantities of commodities consumed by the particular group in the base year are estimated
and these figures or their proportions are used as weights. Then the total expenditure on each commodity for
each year is calculated.