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sem 3 winter common paper MB0050 MB0051







BK ID B1700


Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.



1 How would you distinguish between a management decision problem and a management research problem? Do all decision problems require research? Explain and illustrate with examples.

Answer : Decision Problem and Research Problem


Drivers for problem formulation:


1.                           Unaticipated change, basically in the environment of the

focal firm (suppliers,competitors, customers)

2.                           Planned change (estimation, effects, outcome)

3.                           Serendipity (random ideas or information)


Differetn Problem Levels:


1)                           Individual orientation, PSYCHOLOGY




2 How are research designs classified? What are the distinguishing features of each? Differentiate by giving appropriate examples.

Answer : The research design refers to the overall strategy that you choose to integrate the different components of the study in a coherent and logical way, thereby, ensuring you will effectively address the research problem; it constitutes the blueprint for the collection, measurement, and analysis of data.

Action Research Design



3 Discuss with the help of examples the four key levels of measurement. What mathematical operations/statistical techniques are and are not permissible on data from each type of scale?

Answer : 4 Levels of Measurement


Nominal Scale

The nominal scale (also called dummy coding) simply places people, events, perceptions, etc. into categories based on some common trait. Some data are naturally suited to the nominal scale such as males vs. females, redheads vs. blondes vs. brunettes, and African American vs. Asian. The nominal scale forms the basis for such analyses as Analysis




4 Processing of data involves editing, coding, classifying and tabulating. Explain each of these steps by taking an appropriate example.

Answer : After collecting data, the method of converting raw data into meaningful statement; includes data processing, data analysis, and data interpretation and presentation.


Data reduction or processing mainly involves various manipulations necessary for preparing the data for analysis. The process (of manipulation) could be manual or electronic. It involves editing, categorizing the open-ended questions, coding, computerization and preparation of tables and diagrams.




5 Distinguish between the following:


a. Null hypothesis and Alternative hypothesis

Answer : The Null Hypothesis


The null hypothesis reflects that there will be no observed effect for our experiment. In a mathematical formulation of the null hypothesis there will typically be an equal sign. This hypothesis is denoted by H0.




b. One tailed and two tailed tests

Answer : A one- or two-tailed t-test is determined by whether the total area of a is placed in one tail or divided equally between the two tails. The one-tailed t-test is performed if the results are interesting only if they turn out in a particular direction. The two-tailed t-test is performed if the results would be interesting in either direction. The choice of a one- or two-tailed t-test effects the hypothesis testing procedure in a number of different ways.




c. Type I and Type II error

Answer : Type I error


A type I error occurs when one rejects the null hypothesis when it is true. The probability of a type I error is the level of significance of the test of hypothesis, and is denoted by *alpha*. Usually a one-tailed test of hypothesis is is used when one talks



d. One way and two way analysis of variance

Answer : The two-way analysis of variance is an extension to the one-way analysis of variance. There are two independent variables (hence the name two-way).




  • The populations from which the samples were obtained must be normally or approximately normally distributed.
  • The samples must be independent.
  • The variances of the populations must be equal.




e. Descriptive and inferential analysis of data

Answer : Descriptive Statistics :


Descriptive statistics includes statistical procedures that we use to describe the population we are studying. The data could be collected from either a sample or a population, but the results help us organize and describe data. Descriptive statistics can only be used to describe the group that is being studying. That is, the results cannot be generalized to any larger group.




6 a. What is Chi-square test of goodness of fit? What precautions are necessary while applying this test? Point out its role in business decision making.

Answer :

Chi-square is a statistical test commonly used to compare observed data with data we would expect to obtain according to a specific hypothesis. For example, if, according to Mendel’s laws, you expected 10 of 20 offspring from a cross to be male and the actual observed number was 8 males, then you might want to know about the “goodness to fit” between the observed and expected. Were the deviations (differences between observed






b. Two research workers classified some people in income groups on the basis of sampling studies. Their results are as follow:


Investigators Income groups Total
Poor Middle Rich
A 160 30 10 200
B 140 120 40 300
C 300 150 50 500


Show that the sampling technique of atleast one research worker is defective.


Answer : Let us take the hypothesis that the sampling techniques adopted by research workers are similar(i.e. there is no difference between  the techniques adopted by research workers).This being so, the expectations of A investigator classifying the people in


(I)Poor Income Group :  =200 x 300 /500 =120


MB0051-Legal Aspects of Business









SUBJECT CODE & NAME MB0051-Legal Aspects of Business
BK ID B1725


Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.


1 “Discharge refers to the termination of contractual relationship between the parties”. Explain the statement along with different modes of discharging a contract.


Answer : Discharge of a contract occurs when the main obligations of a contract end. The ending of this contract entails a termination of a contractual relationship. Yet parties may terminate a contract even when they do not fulfill to the end the primary obligations required by a contract. Thus, the main difference between discharge and termination of a contract is the conditions under which a contractual relationship ends. A very thin line differentiates these two actions.


A Contract is said to be discharged when the rights and





2 Explain the meaning of Power of Attorney, its types and clause related to registration.

Answer : A power of attorney is a document by which a person (called the principal or donor) appoints another (the attorney or donee) as their representative for certain purposes. A person travelling overseas may, for instance, grant a power of attorney to a relative or friend who can then access the traveller’s bank to pay his or her bills. A power of attorney can also be useful where a person becomes ill or incapacitated and




3 Explain the procedure of registration of partnership firms.

Answer : The law relating to a partnership firm is contained in the Indian Partnership Act, 1932.


Under Section 58 of the Act, a firm may be registered at any time ( not merely at the time of its formation but subsequently also ) by filing an application with the Registrar of Firms of the area in which any place of business of the firm is situated or




4 What are the circumstances under which breach of condition is treated as breach of warranty?


Answer : Unless a different intention appears from the terms of the contract stipulations as to time of payment are not deemed to be of the essence of a contract of sale. Whether any other stipulation as to time is of the essence of the contract or not depends on the terms of the contract.


(2)In a contract of sale ” month ” means prima, facie calendar month.






5 Explain the procedure for filing a complaint and admission of complaint in consumer protection act.



A complaint can be filed by a complainant against the seller, manufacturer, or dealer of goods which are defective or against the provider of services, if they are deficient in any manner whatsoever. An unfair trade practice or restrictive trade practice can also invite complaint.

A complainant can be a:-


A.           Consumer to whom such goods are sold or delivered or agreed to be sold or delivered or such service provided or agreed to be provided;



6 Write short notes on:


a) Shares and its classification

Answer : The different types of company shares are usually defined within the articles of association or by the lodgement of an appropriate statement, resolution or agreement. Different share classifications will confer different rights to the holder with regards to dividends, voting rights and winding up provisions. Some example of well known share categories can be seen below:





b) Meetings and its classification

Answer : There are different types of meetings. Each type requires a different structures and supports a different number of participants. For instance, a status (feedforward) meeting has no limit to the number of participants while a decision-making meeting produces results faster with a small number of participants.


If you want to help your teams have more effective meetings, set the participants expectations about the meeting by stating in the agenda —


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