Question

9. Explain the limitations of a statistical average and how they can be dealt with.

10. How can you relate “expectancy” and “statistical error”? Provide an example.

11. How do you define a “good” decision? Explain your logic.

12, Explain similarities and distinctions between management and leadership.

Answer 1

9.In statistics,an average is the number that measures the central tendency of a given set of numbers. It includes mean, median and mode.

The main limitation of this is

1. Qualitative aspects are ignored

2. It doesn't deal with individual items.

3.It is liable to be miscused.

4.The results are true only on average.

5. In the case of mean, it is really sensitive to extreme value in the data set.

6.Median doesn't take into account the nature of data distribution.

7.Median locate between two middle values,it remains only an appropriate measures ,not a precise value.

8. Mode is uncertain and vague measures of cental tendancy.

9.Mode not capable of further algebraic.

Answer for the question no.10

The expectancy or expected value is a weighted average of all possible values in a data set. i The expectancy refer , intuitively,to the value of a random variables one would 'expect' to find if one would repeat the random variable process an infinite number of time and take the Average of the value obtained.

Example: Random variable X is represented the number of girls in a family of children.

P[x=0]= 0.125

P[x=1]=0.375

P[x=2]= 0.375

P[x=3]=0.125

Expected value of X ,E(x) is

E[x]=0.0.125+1.0.375+2.0.375+3.0.125=1.25

The statistical error is the difference between the retained value and the true value

Answer for the question number 11

The good decision is the one that made deliberately and thoughtfully, consider and include all factors,is consistent with individuals, philosophy and values ,can be explained clearly to significant others.The making of a good decision is plays vital role because each decision that taken is affect the entire factors. The good decision shows some characteristics.That are;

Good decision positively impact on others

Good decision is replicable.

Good decision foster opportunity

Good decision is executable

The good decision is systematic and accountable.

Answer for the question number 12

Management is the process of setting and achieve the organisation goal. It include planning, organising, staffing , directing and controlling.

The leadership is the process of influencing others to achieve their goals.

The manager manage and the leader is lead . The managers have subordinates but the leader have the followers. The manager give directions but the leader ask questions to their followers.The manager is following the authoritarian style and leader use the motivational style. The manager tell what to do but the leader shows what to do. The manager react to the changes but the leader create change. The manager try to become a hero but the leader is always try to make others to becot heros. Leader is someone who people naturally follow through their own choice where as manager must obeyed . Manager may only have obtained his position.

The manager can become a good leader. The manager is getting thing done and leader is getting the right thing done. The leader and manager is similar in that each is in charge of a group tasked with an objectives.