Business Mathematics and Statistics
Business Mathematics and Statistics
Business Mathematics and Statistics
5528
TOPIC
Acknowledgment
Apart from the efforts of me, the success of this project depend largely on the encouragement and guidelines of many others. As well as thank the people who took the time to participate in this study.
Abstract
Important Angles related to the topic Estimation and Hypothesis Testing has been discussed in details. I chose HBL for particle study.
Contents
Introduction Data collection methods Practical study of the organization SWOT analysis Conclusion
Recommendation
References
Introduction
What is Statistical inference
The process of drawing inferences about a population on the basis of sample information is called statistical inference. Statistical inference is divided into tow major areas: 1_ Estimation 2_ Hypothesis Testing
What is Estimation
Estimation is a procedure by which we obtain the values of unknown parameters using the sample information. The estimation or statistical estimation of population parameters is divided into two types.
Point estimation
Interval estimation
Point estimation: The process of finding a single value from the sample is called point estimation. Interval Estimation: Interval estimation is a procedure in which we estimate a range of values within which the population parameter is expected to lie with a certain degree of confidence.
Hypothesis Testing: Hypothesis testing is a procedure which enables us to decide on the basis of information obtained from sample data whether to accept or reject an assumption (a statement) about the value of a population parameter.
Null Hypothesis: A null hypothesis is a hypothesis which is to be tested for possible rejection under the assumption that it is true. It is denoted by H0. For example, suppose we think that the average age of ICS student is 16 years, then it is written as: H0: =16 years
Alternative Hypothesis: An alternative hypothesis is any hypothesis which is accepted, when the null hypothesis is rejected. It is denoted by H1 or HA. For example, if our null hypothesis is H0: = 16 years, then the alternative hypothesis may be H1: 16 years or H1: > 16 years or H1: < 16 years.
Level of Significance: The probability of making a type-I error is called level of significance. It is denoted by
=P (Type-I error) =P (Reject H0/H0 is true)
Level of Confidence: The probability of accepting a true null hypothesis is called level of confidence. It is denoted by 1 1= p (Accept H0/H0 is true)
Data collection
1. Books 2. Internet
Their mission is to make their customers prosper, their staff excel and create value for shareholders
SWOT analysis
strengths HBL has long-term vision, which plays a very important role in organizations success First bank to privatize, which has, now become the leader in market with largest on line ATM network in the country 24 hours cash access through ATM
Weaknesses
Lack of professionalism in the branch employees mostly. Experienced but old staff, are not aware of using modern technologies/ equipments
Opportunities
Due to largest ATM network, HBL can expand its 24 hours cash facilities to the far off cities of the growing market demand Stronger position to recover bad debts Focus on small business, export/ import sector
Threats
Increasing foreign banks in the country Consolidation in the banking sector resulting in increased competition Inconsistency in government policies regarding to business and economic sector
Conclusion
HBL is clearly the first choice of everyone who believes in qualitative approach of banking and environment of highly responsible people
HBL has more customers as compare to other banks, if they given proper attention to every customer then in few years it will be the leading bank of the country (asset point of view)
Recommendations
Workers need more computer training There should be authority in every region which ensures efficient flow of communication and its understanding. ATM network needs to be updated more to handle transfers, deposits, bill payments and print statements. This will free up a lot staff time
References
http://en.wikipedia.org/wiki/Statistical_hypothes is_testing
http://amcy5.com http://google.com/pk www.stanford.edu