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STATISTICS FOR BUSINESS MANAGEMENT AFTERSCHO☺OL – DEVELOPING CHANGE MAKERS
CENTRE FOR SOCIAL ENTREPRENEURSHIP PGPSE PROGRAMME –
World’ Most Comprehensive programme in social entrepreneurship & spiritual entrepreneurship
OPEN FOR ALL FREE FOR ALL
www.afterschoool.tk AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS
STATISTICS FOR BUSINESS MANAGEMENT
Dr. T.K. Jain.
AFTERSCHO☺OLCentre for social entrepreneurship
Bikaner M: 9414430763
www.afterschool.tk, www.afterschoool.tk
www.afterschoool.tk AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS
Mayank speaks truth in 30% cases and Goti speaks truth in 25%
cases, what is the probability that they will contradict?
• One of them should speak truth and the other should lie. So :
• (Mayank is true*Goti is wrong)+(Mayank is false*Goti is true) =
• .3*.75 + .7*.25 = .225+.175 = .4 answer.
www.afterschoool.tk AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS
There are 3 persons of the age 60,65 and 70. the survival
probabilities for these for next 5 years (till 2013) is .7, .4 and 2.
What is the probability that at least 2 of them will survive till 2013?
• Let us assume that all 3 die:
• 3*.6*.8 = .144
• Let us assume that one of them die:
• .7*.4*.8 +.7*.6*.2 + .3*.4*.2 = .332
• Let us take the case when all survive:
• .7*.4*.2 = .056 thus answer is .332+.056 =.388 answer
www.afterschoool.tk AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS
X and Y stand in a line with 6 other persons. What is the probability
that there are 3 persons between them?
• Let us write down all the possibilities: • In all there are 8 persons.• Let us put X at top position and Y at 5th
position. Similarly, take X to 2,3,4 positions. We can reverse these positions also. Thus there are 8 possibilities. In all X and Y have 8*7 possibilities, so 8 /56 is the answer.
www.afterschoool.tk AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS
P(A) =1/2, P(B) =1/3 P(A∩B) =1/4, what is P(A’/B’)?
• A’ = 1-1/2 = ½
• B’ = 1-1/3 = 2/3
• P(A’∩B’) =1 – { ½ + 1/3 – ¼} = 1-7/12 =5/12
• 5/12 divided by 2/3 = 5/8 answer.
www.afterschoool.tk AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS
Nidhi, Jayati and Prateek prepare 60, 70 and 90 statements. The
probability that the statement will contain an error is .2, .3 and .1
respectively. What is the probable number of correct statements?
• Total number of statements = 220
• (60*.8) +(70*.7)+(90*.9) = 48+49+81=178
• Answer.
www.afterschoool.tk AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS
A bag contains 6 white and 4 red balls. If a person draws 2 balls and
receives Rs. 10 and Rs. 20 for white and red balls respectively, his
expected income is ?
• Both white: 6c2 / 10C2 = 15/45
• Both red : 4c2 / 10c2 = 6/45
• One white & one red = (6c1*4c1)/10c2 =24/45
• 15/45 *20 + 6/45 *40 + 24/45*30 = 28
www.afterschoool.tk AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS
Fit a binomial distribution or mean and standard deviations are 6 and
2 respectively? • Mean = NP = 6• Standard Deviation = sqrt (NPQ) = 2• NPQ = 4• Thus Q = 2/3 • P = 1-Q = 1-2/3 = 1/3• N=6 *3/1 = 18• Now prepare Bionomial distribution using
formulae : Ncr *P^r*q^(n-r)
www.afterschoool.tk AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS
Solution – binomial distribution
18c0*(1/3)^0*(2/3)^18 =.0006
18c1*(1/3)^1*(2/3)^17 .006
18c2*(1/3)^2*(2/3)^16 .025
18c3*(1/3)^3*(2/3)^15 .069
www.afterschoool.tk AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS
From 5 to 9 pm there are 4 telephone calls on an average per minute. What is the probability that during one particular minute, there
is no phone call?
• We have to use Poisson distribution to solve it.
• M (average calls) = 4, X =0 (no phone calls)
• =e^-m * m ^x / x! =( 2.71828^-4*4^0)/0!
• =.018316 answer.
www.afterschoool.tk AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS
ABOUT AFTERSCHO☺OL
Afterschoool conducts three year integrated PGPSE (after class 12th along with IAS / CA / CS) and 18 month PGPSE (Post Graduate Programme in Social Entrepreneurship) along with preparation for CS / CFP / CFA /CMA / FRM. This course is also available online also. It also conducts workshops on social entrepreneurship in schools and colleges all over India – start social entrepreneurship club in your institution today with the help from afterschoool and help us in developing society.
www.afterschoool.tk AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS
Why such a programme?
• To promote people to take up entrepreneurship and help develop the society
• To enable people to take up franchising and other such options to start a business / social development project
• To enable people to take up social development as their mission
• To enable people to promote spirituality and positive thinking in the world
www.afterschoool.tk AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS
Who are our supporters?
• Afterschoolians, our past beneficiaries, entrepreneurs and social entrepreneurs are supporting us.
• You can also support us – not necessarily by money – but by being promotor of our concept and our ideas.
www.afterschoool.tk AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS
About AFTERSCHO☺OL PGPSE – the best programme for developing great
entrepreneurs• Most flexible, adaptive but rigorous programme• Available in distance learning mode• Case study focused- latest cases • Industry oriented practical curriculum• Designed to make you entrepreneurs – not just
an employee• Option to take up part time job – so earn while
you learn • The only absolutely free course on internet
www.afterschoool.tk AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS
Workshops from AFTERSCHO☺OL
• IIF, Delhi• CIPS, Jaipur• ICSI Hyderabad Branch• Gyan Vihar, Jaipur• Apex Institute of Management, Jaipur• Aravali Institute of Management, Jodhpur• Xavier Institute of Management, Bhubaneshwar • Pacific Institute, Udaipur• Engineering College, Hyderabad
www.afterschoool.tk AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS
Flexible Specialisations:
• Spiritualising business and society• Rural development and transformation• HRD and Education, Social Development• NGO and voluntary work• Investment analysis,microfinance and inclusion • Retail sector, BPO, KPO• Accounting & Information system (with CA / CS /CMA)• Hospital management and Health care• Hospitality sector and culture and heritage• Other sectors of high growth, high technology and social
relevance
www.afterschoool.tk AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS
Salient features:• The only programme of its kind (in the whole world)• No publicity and low profile course• For those who want to achieve success in life – not just a
degree• Flexible – you may stay for a month and continue the rest of
the education by distance mode. / you may attend weekend classes
• Scholarships for those from poor economic background• Latest and constantly changing curriculum – keeping pace
with the time• Placement for those who are interested• Admissions open throughout the year • Latest and most advanced technologies, books and study
material
www.afterschoool.tk AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS
Components • Pedagogy curriculum and approach based on IIM Ahmedabad and ISB
Hyderabad (the founder is alumnus from IIMA & ISB Hyderabad)• Meditation, spiritualisation, and self development • Essential softwares for business• Business plan, Research projects• Participation in conferences / seminars• Workshops on leadership, team building etc. • Written submissions of research projects/articles / papers• Interview of entrepreneurs, writing biographies of entrepreneurs• Editing of journals / newsletters• Consultancy / research projects • Assignments, communication skill workshops• Participation in conferences and seminars• Group discussions, mock interviews, self development diaryng • Mind Power Training & writing workshop (by Dr. T.K.Jain)
www.afterschoool.tk AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS
Pedagogy
• Case analysis,• Articles from Harvard Business Review • Quiz, seminars, workshops, games, • Visits to entrepreneurs and industrial visits• Presentations, Latest audio-visuals• Group discussions and group projects• Periodic self assessment• Mentoring and counselling• Study exchange programme (with institutions out of
India)• Rural development / Social welfare projects
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Branches
• AFTERSCHO☺OL will shortly open its branches in important cities in India including Delhi, Kota, Mumbai, Gurgaon and other important cities. Afterschooolians will be responsible for managing and developing these branches – and for promoting social entrepreneurs.
www.afterschoool.tk AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS
Case Studies
• We want to write case studies on social entrepreneurs, first generation entrepreneurs, ethical entrepreneurs. Please help us in this process. Help us to be in touch with entrepreneurs, so that we may develop entrepreneurs.
www.afterschoool.tk AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS
Basic values at AFTERSCHO☺OL
• Share to learn more• Interact to develop yourself• Fear is your worst enemy• Make mistakes to learn • Study & discuss in a group• Criticism is the healthy route to mutual support
and help • Ask fundamental questions : why, when, how &
where?• Embrace change – and compete with yourself
only
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