Statistics

1. Comment on the these methods (Laspeyres Index Number& Paasche Index Number )of finding the cost of living. 2. Name (justify shortly and explain how it works) four ways in which statistics can be of service to a manufacturer. 3. Is there any evidence to suggest that the level of quality of production is significantly associated with particular factories? 4. Angie, John and Christie are 3 beauty contestants who were graded by a committee of 4 judges. Below is their grade reports. Angie [5, 1, 3, 3]John [4, 3, 2, 3] Christie [6, 2, 1, 3] Can you help the committee to reach the right decision which girl is going to be elected as a beauty queen? Support your argument based on 4 at least statistical measures. 5. What do we mean by ‘Confidence Levels’? How do Confidence Levels Change with: a. Increased Probability of being wrong b. Standard Deviation of the Population c. Sample Size. 6. Give briefly three rules to be followed when phrasing question to be included in a questionaire. 7. In what practical ways can statistics be of service to a business man? 8. What are the advantages of using charts and graphs in statistical investigations? 9. Describe clearly the methods to be employed in constructing (i) a pie chart; (ii) a histogram 10. A sales department of a firm might plot a Z chart to check or monitor the annual performance of its sales staff. Describe such a chart with an example and explain how it is used. 11. What is meant when two series of recorded figures such as expenditure on advertising and volume of sales are said to be linearly correlated? If, in such a case, a regression line can be established what practical use does it have? With the aid of scatter diagrams distinguish between positive and negative correlation. 12. For any 4 of the following terms associated with surveys, give an explanation of its meaning and an example using any survey of your choice: a. Response error b. Random sample c. Stratified sampling d. Multi-stage sampling e. Systematic sampling f. Convenience sampling 13. What do you understand by taking samples? Give a brief explanation. 14. What is a multi-stage sampling? 15. What is a cluster sampling? 16. What is a stratified random sampling?      

Sample Solution