BA1601 Statistics For Management MBA Question Bank : niceindia.com

Name of the College : Noorul Islam College of Engineering
University : Anna University
Degree : MBA
Department : Management Studies
Subject Code/Name : BA 1601 – Statistics For Management
Year : 1st
Semester : 1st
Document Type : Question Bank
Website : niceindia.com

Download Model/Sample Question Paper : https://www.pdfquestion.in/uploads/niceindia.com/3101-BA_1601_-_STATISTICS_FOR_MANAGEMENT.pdf

NICE Statistics For Management Question Paper

1. What do you meant by probability?:
The word “probability” that denotes that there is an uncertainty about the happening of event. It can also be defined as an expression of likelihood or chance of occurrence of an event. The probability is a number, which ranges from 0 to 1.

Related : Noorul Islam College of Engineering BA1736 Industrial Relations & Labour Welfare MBA Question Bank : www.pdfquestion.in/3102.html

2. Define Event?:
An outcome or a combination of outcomes of a random experiment is called an event. Events are generally denoted by capital letters A, B, C, etc.

For Example :
If a coin is tossed, getting a head or tail is an event.

3. Define the term random experiment?:
The term experiment is used to describe an act, which can be repeated under some conditions. Random experiment is one which result depends on chance. That is the results can never be predicted.

For example :
Tossing a coin, throwing a die.

4. Define Mutually Exclusive events :
Two events if the occurrence completely excludes the occurrence of the other. That is the two events cannot occur simultaneously.

For Example :
Tossing a coin, either head or tail will turn up.

5. Define Equally likely events :
Events are said to be equally likely when one does not occur more often than others.

For Example :
If an unbiased coin or die is thrown, each face may be expected to be observed approximately the same number of times in the long run.

6. Define compound Events :
The joint occurrence of two or more events is called compound events.

7. Define sample space :
The set of all possible outcomes of a given experiment is called its sample space.
Each element of the sample space is called a sample point.

For example :
When a die is thrown, the sample space S= 1, 2, 3, 4, 5, 6

8. State the statistical definition of probability?:
If the probability of an event can be determined only after the actual happening of an event, is called statistical probability. . Statistical probability is also called Empirical Probability or A posterior probability.

9. Define Independent Events?:
Two events are said to be independent if the occurrence of one does not affect the occurrence or non-occurrence of the other.

11. Define non-independent events?:
If the occurrence of one event is affected by the occurrence of the other event, then the two events are said to be non-independent Events.

12. State the mathematical definition of probability?:
If the probability of an event can be calculated event before the actual happening of an event That is even before conducting the experiment, it is called mathematical probability.

13. What do you meant by exhaustive events?:
Events are said to be exhaustive when their totality includes all the possible outcomes of a random experiment.

14. What do you meant by conditional probability?:
Two events A and B are said to be dependent when B can occur only when A is known to have occurred. The probability attached to such an event is called conditional probability
(A/B) =P (AB)/P(B)
For three events A, B and C
P (ABC) = P (A) x P (B/A) x p (C/AB).

15. Write short notes on Baye’s Theorem?:
Baye’s Theorem is based on the concept that probabilities should be revised when some new information is available and it reduce the element of risk involved in decisionmaking.

It is given by British mathematician Thomas bayes (1702-61). His theorem known as Baye’s Theorem or Rule.