Business Statistics
UNIT 1 Statistics-
Definition, Significance, Scope of Statistics in Economics, Management and Industry.
Data Collection- Primary and Secondary. Methods of Sampling, Preparation of Questionnaire,
Classification and Tabulation of data, Preparation of Statistical Series and its types.
UNIT II Measures of Central Tendency
a) Mathematical averages including arithmetic mean, geometric mean and harmonic mean.
Properties and applications.
b) Positional Averages
Mode and Median (and other partition values including quartiles, deciles, and percentiles)
UNIT III Measures of Variation:
absolute and relative: Range, quartile deviation, mean deviation, standard
deviation, and their coefficients,
Properties of standard deviation/variance
Skewness: Meaning, Measurement using Karl Pearson and Bowley‟s measures; Concept of
Kurtosis
UNIT IV Correlation Analysis.
Meaning of Correlation: simple, multiple and partial; linear and non-linear,
Correlation and Causation, Scatter diagram, Methods of correlation. Probable error;
Regression Analysis. Principle of least squares and regression lines, Regression equations and
estimation; Properties of regression coefficients; Relationship between Correlation and Regression
coefficients; Standard Error of Estimate
UNIT V Meaning and uses of index numbers.
Construction of index numbers: fixed and chain base:
univariate and composite. Aggregative and average of relatives – simple and weighted
Tests of adequacy of index numbers, Base shifting, splicing and deflating. Problems in the
construction of index numbers
Construction of consumer price indices.