University of Southeastern Philippines
eBA 201 Managerial Statistics
Exercise 1
Name: Nathan Kit A. Berro
1.Answer the following comprehensively.
1. Statistics is important in almost all fields of endeavors. This is precisely the reason
why it is always part of the curriculum leading to any course just like MBA. Discuss
the importance of statistics in your Field of Specialization or your present job (20
points).
Since I am currently unemployed, I will answer this question based on the last
work I have encountered. Statistics in the banking industry play a vital role in
determining the status of a bank in a market. In our case, the AUB (Asia United
Bank) is a new player in Philippine banking. It was established in 1997 and is a
newbie compared to other well-established banks. Because we are new, our team
strives hard to gain a higher market share. Our branch was established in 2013, yet
banking in Butuan City is already densely populated by giant and competitive banks.
Guided by our branch manager, a CPA, she always monitors our sales by computing
the quarterly changes in our product services. Through this monitoring, which uses
advanced statistical tools and programs, we gained a tiny market space. Our loans,
which are our primary source of income generation in the bank, land above
breakeven in four years (based on our 2017 year-end meeting). Of course, that would
be impossible without all those statistical tools and monitoring done by our manager.
It only proves how essential statistics are in the banking industry.
2.In inferential statistics, error is inevitable because the focus of the analysis is the
sample leading to predictions or inferences about the population. What are the
characteristics of the sample in order to minimize such error? Discuss each
characteristic comprehensively (20 points).
There are two ways of minimizing errors in inferential statistics. One is that
samples must represent the population and the other is by random sampling.
First the sample should be representative of the population.
Representativeness includes sufficient sample size and selecting pure members of
the population under consideration. Representative of population means a small
subset of a group that seeks to reflect specified characteristics exemplified in a target
population proportionally. We can compute a sufficient sample size using Yamane’s
formula n=N/1+Ne2, where n=Sample size, N=population size, and e=allowable
error usually set at 1% to 5%.
eBA 201 Managerial Statistics
Exercise 1
Name: Nathan Kit A. Berro
1.Answer the following comprehensively.
1. Statistics is important in almost all fields of endeavors. This is precisely the reason
why it is always part of the curriculum leading to any course just like MBA. Discuss
the importance of statistics in your Field of Specialization or your present job (20
points).
Since I am currently unemployed, I will answer this question based on the last
work I have encountered. Statistics in the banking industry play a vital role in
determining the status of a bank in a market. In our case, the AUB (Asia United
Bank) is a new player in Philippine banking. It was established in 1997 and is a
newbie compared to other well-established banks. Because we are new, our team
strives hard to gain a higher market share. Our branch was established in 2013, yet
banking in Butuan City is already densely populated by giant and competitive banks.
Guided by our branch manager, a CPA, she always monitors our sales by computing
the quarterly changes in our product services. Through this monitoring, which uses
advanced statistical tools and programs, we gained a tiny market space. Our loans,
which are our primary source of income generation in the bank, land above
breakeven in four years (based on our 2017 year-end meeting). Of course, that would
be impossible without all those statistical tools and monitoring done by our manager.
It only proves how essential statistics are in the banking industry.
2.In inferential statistics, error is inevitable because the focus of the analysis is the
sample leading to predictions or inferences about the population. What are the
characteristics of the sample in order to minimize such error? Discuss each
characteristic comprehensively (20 points).
There are two ways of minimizing errors in inferential statistics. One is that
samples must represent the population and the other is by random sampling.
First the sample should be representative of the population.
Representativeness includes sufficient sample size and selecting pure members of
the population under consideration. Representative of population means a small
subset of a group that seeks to reflect specified characteristics exemplified in a target
population proportionally. We can compute a sufficient sample size using Yamane’s
formula n=N/1+Ne2, where n=Sample size, N=population size, and e=allowable
error usually set at 1% to 5%.
