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

Upon successful completion of this course, the student will be able to:

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

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

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

CO 64: Explain the meaning of the calculated statistical indicators

CO 65: Assess statistical methods for solving practical problems

CO 66: Integrate statistical relationships between variables in data sets

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

CO 68: Analyze 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 Tabulation

 

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
  • 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
Essential Readings: 
  1. Business Statistics-Garg, Sharma, Jain, Pareek(Shivam Book House Pvt Ltd)
  2. Statistics Theory and Practice-Sancheti and Kapoor( Sultan Chand and Sons New Delhi)
  3. Business Statistics: S.C Gupta (Himalya Publishing House)
  4. Statistical Methods:-S.P Gupta, Archana Gupta(Sultan Chand& Sons, New Delhi)
  5. Statistical Methods-K.N Nagar
  6. Business Statistics-Yadav, Jain, Mittal (Malik and Company Jaipur)
  7. Fundamentals of Statistics: S. C Gupta (Himalya Publishing House)
Academic Year: 
2021-2022
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