Assignments

a) Describe the importance of visual presentation of data. b) Discuss the importance of Statistics in Business.

Leave a Comment / ECO-07 ELEMENTS OF STATISTICS /

Introduction Statistical data, when presented visually, becomes much easier to interpret and understand. This aids in effective decision-making, particularly in business environments where insights derived from data can determine the success or failure of strategies. This answer explains the importance of visual data presentation and highlights the key roles that statistics play in business. a) […]

a) Describe the importance of visual presentation of data. b) Discuss the importance of Statistics in Business. Read More »

a) Compute Karl Pearson’s coefficient of skewness from the following data: b) Explain convenience and judgement sampling methods in brief.

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Introduction This question focuses on two important areas of statistics: measuring skewness and understanding sampling methods. Skewness helps in understanding the symmetry of a data distribution, while convenience and judgment sampling are non-probability methods used to collect data in specific contexts. a) Compute Karl Pearson’s Coefficient of Skewness Given: Arithmetic Mean (x̄) = 40.11 Standard

a) Compute Karl Pearson’s coefficient of skewness from the following data: b) Explain convenience and judgement sampling methods in brief. Read More »

a) Calculate the Arithmetic Mean from the following data: 0–5 (3), 5–10 (12), 10–25 (25), 25–50 (10) b) Draw a histogram and a frequency polygon from the following data: 10–20 (10), 20–30 (20), 30–40 (30), 40–50 (25), 50–60 (10)

Leave a Comment / ECO-07 ELEMENTS OF STATISTICS /

Introduction Statistical tools like the Arithmetic Mean and graphical tools like histograms and frequency polygons help in summarizing and visualizing data. They provide insights into the central tendency and distribution of a dataset. In this answer, we calculate the arithmetic mean from grouped data and construct the histogram and frequency polygon for a different frequency

a) Calculate the Arithmetic Mean from the following data: 0–5 (3), 5–10 (12), 10–25 (25), 25–50 (10) b) Draw a histogram and a frequency polygon from the following data: 10–20 (10), 20–30 (20), 30–40 (30), 40–50 (25), 50–60 (10) Read More »

Differentiate between the primary and secondary data. Explain different methods of collecting primary data and the sources of secondary data.

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Introduction In statistics, data collection is a fundamental step for any kind of research or analysis. Data is primarily divided into two types: primary data and secondary data. Understanding the difference between these two types and how they are collected is essential for accurate and reliable statistical analysis. Difference Between Primary and Secondary Data Basis

Differentiate between the primary and secondary data. Explain different methods of collecting primary data and the sources of secondary data. Read More »

What is the difference between normal loss and abnormal loss? Give examples.

Leave a Comment / BCOC-131 FINANCIAL ACCOUNTING /

Introduction In the field of accounting and cost management, understanding the types of losses incurred during production or business activities is essential. Two key types of losses commonly identified are normal loss and abnormal loss. These losses have different characteristics, accounting treatments, and implications on business operations. Identifying and managing these losses helps businesses maintain

What is the difference between normal loss and abnormal loss? Give examples. Read More »

Describe the rights of a hirer under purchase agreement.

Leave a Comment / BCOC-131 FINANCIAL ACCOUNTING /

Introduction In a hire purchase agreement, the hirer gets the right to use an asset while paying for it in installments over a specified period. However, the ownership of the asset remains with the seller until all installments are paid. This financing method is widely used for acquiring consumer goods and capital equipment. Understanding the

Describe the rights of a hirer under purchase agreement. Read More »

What are the features of Ind‑AS 101?

Leave a Comment / BCOC-131 FINANCIAL ACCOUNTING /

Introduction Indian Accounting Standards (Ind-AS) are a set of accounting standards that have been converged with International Financial Reporting Standards (IFRS). Ind-AS 101 is particularly important as it provides the guidelines for first-time adoption of these standards by Indian companies. This standard ensures that financial statements are comparable and transparent across international and domestic borders,

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Explain the concept of a Production Possibility Curve. Enumerate its assumptions. Illustrate it with the help of an example.

Leave a Comment / BCOG-171 PRINCIPLES OF MICRO ECONOMICS /

Introduction The Production Possibility Curve (PPC), also known as the Production Possibility Frontier (PPF), is a fundamental concept in microeconomics. It is a graphical representation that shows the various combinations of two goods or services that an economy can produce using all available resources efficiently. The PPC illustrates the concepts of scarcity, choice, and opportunity

Explain the concept of a Production Possibility Curve. Enumerate its assumptions. Illustrate it with the help of an example. Read More »

Explain the different categories of occupational hazards in retail industry.

Leave a Comment / BRL-113 BUSINESS ETHICS /

Introduction Occupational hazards refer to potential risks or dangers associated with specific job roles. In the retail industry, workers are exposed to various hazards due to the physical nature of the work, constant interaction with customers, and handling of products. Identifying and managing these hazards is crucial to ensure the safety and well-being of employees.

Explain the different categories of occupational hazards in retail industry. Read More »

Discuss the role of transparency and honesty in fostering relationship with the customers.

Leave a Comment / BRL-113 BUSINESS ETHICS /

Introduction Transparency and honesty are fundamental ethical principles in business that significantly impact customer relationships. In a market where trust is a vital currency, companies that maintain open and truthful communication foster deeper bonds with customers and build long-term loyalty. Main Body Meaning of Transparency and Honesty Transparency refers to the practice of openly sharing

Discuss the role of transparency and honesty in fostering relationship with the customers. Read More »

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