We have great pleasure in presenting First edition “Quantitative Techniques for Business Decisions” written for students of UG courses. The related matters are written in a simple and easily understandable.
This volume is an attempt to pro vide the students with thorough understanding of Quantitative Techniques for Business Decisions. 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 –
Module – 1 Correlation Analysis
Introduction
Meaning of Correlation
Definition of Correlation
Uses of Correlation
Types of Correlation
Karl Pearson’s Coefficient of Correlation
Probable Error
Spearman’s Rank Correlation Coefficient
Review Questions
Practical Problems with Answer
Module – 2 Regression Analysis
Introduction
Meaning of Regression
Uses of Regression
Difference between Correlation and Regression
Regression Lines
Regression Equations
Regression Co-efficient
Correlation Coefficient through Regression Coefficient
Review Questions
Practical Problems with Answer
Module – 3 Time Series
Introduction
Meaning of Time Series
Uses of Time Series
Components of Time Series
Methods of Trends
Method of Moving Averages Method of Curve Fitting by the
Principle of Least Squares
Fitting a Straight-line Trend by the Method of Least Squares
Computation of Trend Values (when SX = 0) including
Graphical Presentation of Trend Values
Review Questions
Practical Problems with Answer
Module – 4 Interpolation and Extrapolation
Introduction
Meaning of Interpolation
Definition of Interpolation
Assumptions of Interpolation
Importance of Interpolation
Methods of Interpolation
Graphic Method
Merits
Limitation
Algebraic Method
Binomial Expansion Method
Conditions of Characteristics
Simple Method of Expansion Binomial
Newton’s Method of Advancing Differences
Illustrations & Illustrations on Practical usage
in Time Value of Money
Review Questions
Practical Problems with Answer
Module – 5 Theory of Probability
Introduction
Probability
Definitions of Probability
Examples
Experiment
Sample Space
Event
Mutually Exclusive Events
Equally Likely Events
Exhaustive Events
Sure Event
Null Event
Complementary Event
Independent Events
Mathematical Definition of Probability
Definition of Conditional Probability
Statements of Addition and Multiplication Laws of Probability
Problems on Probabilities, Conditional Probabilities
Probabilities using Addition and Multiplication Laws of
Probabilities (Without use of Permutations and Combinations)
Review Questions
Practical Problems with Answer