We have great pleasure in presenting First edition “Business Statistics” written for students of UG courses. The related matters are written in a simple and easily understandable.
This volume is an attempt to provide the students with thorough understanding of Business Statistics. We have presented the subject matter in a systematic manner with liberal use of charts and diagrams where ever necessary so as to make it interesting and sustain students’ interest.
Contents –
Unit – 1 Introduction & Data Presentation
Introduction
Meaning of Statistics
Scope of Statistics
Importance of Statistics in Business
Limitations of Statistics
Data
Types of Data
Primary Data
Secondary Data
Classification of Data
Tabulation of Data
Construction of Frequency Distributions
Graphical Presentation:
Bar Charts
Pie Charts
Histograms
Frequency Polygons
Line Diagrams
Review Questions
Unit – 2 Measures of Central Tendency & Dispersion
Introduction
Central Tendency:
Mean (simple/weighted)
Median
Mode
Geometric Mean
Harmonic Mean
Partition Values:
Quartiles (concept only)
Dispersion:
Range
Quartile Deviation
Mean Deviation
Standard Deviation
Coefficient of Variation
Skewness and Kurtosis
Business Interpretation and Application
Review Questions
Unit – 3 Correlation & Regression
Introduction
Meaning of Correlation
Types (positive/negative)
Scatter Plots
Karl Pearson’s Coefficient
Spearman’s Rank Correlation
Simple Regression:
Least Squares Method
Slope/intercept Interpretation
Review Questions
Unit – 4 Time Series & Index Numbers (Basic)
Introduction
Concept of Time Series
Components (Trend, Seasonal, Cyclical, Irregular)
Simple Trend Estimation
Moving Average
Semi-average Method
Index Numbers:
Meaning
Types (Price and Quantity)
Laspeyres and Paasche
Fishers Methods (introductory Level, Interpretation Focus)
Review Questions
Unit – 5 Probability & Sampling
Introduction
Probability
Sampling (Conceptual)
Bayes’ Theorem (Introductory- no problems)
Introduction
Definition
Types of Events
Addition and Multiplication Theorems
Joint Probability
Marginal Probability
Conditional Probability
Sampling
Population vs Sample
Importance in Business Decision-making.
Sampling Techniques
Probability Sampling (Simple Random, Stratified, Cluster)
Non-Probability Sampling (Convenience, Quota, Judgment)
Review Questions
