Business Statistics

Paper Code: 
AAF 215
Credits: 
3
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 

The objective of this course is to familiarize students with the basic statistical tools used for decision-making.

Course Outcome (COs):

Course

Learning outcome (at course level)

Learning and teaching strategies

Assessment Strategies

Paper Code

Paper Title

AAF 215

Business Statistics

CO 61: Understand basic statistical concepts such as statistical collection, statistical series, tabular representation of data

CO 62: Calculate measures of central tendency, dispersion and asymmetry, correlation and regression analysis

CO 63: Independently calculate basic statistical parameters viz- mean, measures of dispersion, correlation coefficient, indexes

CO 64: Interpret the meaning of the calculated statistical indicators

CO 65: Choose a statistical method for solving practical problems

CO 66: Highlight statistical relationships between variables in data sets

CO 67: Predict values of strategic variables using regression and correlation analysis

CO 68: Deal with numerical and quantitative issues in business

Approach in teaching:

Interactive Lectures, Discussion, Tutorials, assignments.

 

Learning activities for the students:

Self learning assignments, Effective questions,  Giving tasks,

Class test, Semester end examinations, Quiz, Solving problems in tutorials, Assignments,  Individual projects

 

8.00
Unit I: 
Introduction-
  • Definition  of  Statistics,  Importance  and  Scope  of statistics,
  • Types and source of Data, Collection of Data,
  • Limitation of statistics.
  • Classification and Tabulation of Data:
  • Meaning and Characteristics, frequency distribution, Simple and Manifold.
12.00
Unit II: 
Measure of Central Tendency:
  • Arithmetic  Mean  (Simple  and weighted),
  • Median (Including Quartiles, Quintiles, Octiles, Deciles, percentile)
  • Mode,
  • Geometric and harmonic Mean-Simple and Weighted.
8.00
Unit III: 
Measures of Dispersion:
  • Absolute and Relative Measures: Range, quartile Deviation,
  • Mean Deviation, Standard Deviation and their Co-efficient.
  • Skewness: Absolute Measures of Skewness, 
  • relative  Measures  of  Skewness  –Karl  Pearson’s  Coefficient  of skewness,
  • Bowley’s Coefficient of Skewness.
11.00
Unit IV: 
Correlation
  • Correlation: Meaning and Significance, Scatter Diagram Correlation graph, Karl Pearson’s Coefficient between two variables.
  • Coefficient of Correlation by Spearman’s Rank Difference Method and concurrent deviation Method
  • Regression Analysis-Meaning and Significance, Difference between correlation and Regression,
  • Regression  lines, Regression  equations, coefficient of Regression, standard error of the estimate.
6.00
Unit V: 
Index Numbers:-
  • Introduction, Uses of Index Numbers, Classification of index Numbers,
  • Problems in Construction of Index Numbers, Methods of constructing  Index  Numbers,
  • Test  of  Adequacy  of  Index  Number formulae, Base Shifting, Splicing and Deflating of Index Numbers.
References: 
  • Business Statistics-Garg, Sharma, Jain, Pareek(Shivam Book House Pvt Ltd)
  • Statistics Theory and Practice-Sancheti and Kapoor( Sultan Chand and Sons New Delhi)
  • Business Statistics: S.C Gupta (Himalya Publishing House)
  • Statistical Methods:-S.P Gupta, Archana Gupta(Sultan Chand& Sons, New Delhi)
  • Statistical Methods-K.N Nagar
  • Business Statistics-Yadav, Jain, Mittal (Malik and Company Jaipur)
  • Fundamentals of Statistics: S. C Gupta (Himalya Publishing House)

 

Note- The candidate shall be permitted to use battery operated pocket calculator that should not have more than 12 digits, 6 functions and 2 memories and should be noiseless and cordless

 

Academic Year: 
2020-2021
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