By: Sagar Deshpande

Aditya Chiplunkar

Pratik Adakmol

Rahul Babhulkar

Ajay Jadhav

Theory:

• Mean = Total sum of observations____________________Number of observations

• Mode =It is the most frequently occurring value in a given data.

• Median = It is the middle term in a given data

Case Study: Automobile Industry

• “Apollo auto” sold 10 cars in Sept 2009. Below is Raw data collected. Their prices range from 6 lacs to 13 lacs.

Model Name Price (in lacs)

Star 6

Alto 8

Xylo 9

Alto 8

Xylo 9

Alto 8

Civic 13

Innova 12

Xing 11

Innova 12

Case Study: Automobile Industry

• Given was the Raw data. Let’s put it in an organized way.

Model Name Frequency

A-Star 01

Alto 03

Xylo 02

Civic 01

Innova 02

Xing 01

Graphs-Frequency distribution of Cars

0

0.5

1

1.5

2

2.5

3

3.5

Star Alto xylo Civic Innova Xing

Frequency

Frequency

Calculations

• Mean = 6+8+9+8+9+8+13+12+11+12________________________

10= 96/10 = Rs.9.6 lakhs

• Mode = Rs. 8 lakhs

• Median = Rs. 8.5 lakhs (5th term + 6th term/ 2)

Problem Area(consumer) Suppose a customer let say Mr. X wants to

purchase a car whose maximum budget of Rs. 8 Lakhs. Then what are the options available with him.

1-STAR 2-ALTO

We can say

• Mean and Median value may mislead, if I have only 8 lac with me.

• Mean has greater impacts of high values.• Whereas Mode value in this case is more

realistic and shows correct data.

Problem area (manufacturer) Suppose a car manufacturer wants to select

a car from his available portfolio of cars then which car he should choose?

Factors affecting his decision• Taste & preferences• Purchasing capacity

Taste & preference

0

10

20

30

40

50

60

70

small car sedan SUV

people

Conclusion

• To put a car on display,decision can made using graph .

• Regarding the model mode value will indicate which is to be displayed.

• This indicates that car priced 13 lac is expensive and rarely bought.

To sum up….

• We can say that for both 1.customer 2. manufacturer mode value will only be the influencing factor

• About us• Federation of Industries is a Non-Profit-Non-Governmental organization (NGO),

Registered with Department of Charity Commissioner. Federation of Industries offers its members a podium to collectively present their ideas, voice concern and offer suggestions on relevant issues. Federation is deeply committed to support its membership to increase competitiveness, enhance efficiency, improve productivity, and ensure growth and prosperity. It is also an representative body of Micro, Small and Medium Enterprises (MSMEs). Federation of Industries motto is to create an enabling environment for the development of MSMEs in today’s ever changing and extremely competitive industrial scenario. It does so with the aim to assist the membership to become cost effective, technology driven, and ever responsive to customers’ changing needs. It interacts with the policy authorities and industry associations to develop and maintain harmonious and conducive business conditions.

• visit us @: www.federationofindustries.org• Contact us @: federationofindustries@gmail.com• Be with us in twitter: https://twitter.com/fedindustries• Join us face to face us in

facebook: http://www.facebook.com/federationofindustries