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BUSINESS STATISTICS
Course Outcomes (COs):
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Course Outcomes |
Learning and teaching strategies |
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On completion of this course, the students will be able to: CO 26: Examine the methods of collecting data, classify and present in the form of tables, Select and apply appropriate measures of central tendency CO 27: Investigate the data sets to find variation amongst them CO 28 : Analyze the bivariate data sets to identify the level of association and cause and effect relationship in them CO 29: Construct the index numbers CO 30 :. Evaluate a sequence of data points collected over an interval of time
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Interactive Lectures, Discussion, Tutorials, Reading assignments, White board teaching
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• Introduction
• Definition of Statistics, Importance, Limitations and Scope of Statistics,
• Types and Source of Data,
• Methods of Data Collection
• Classification and Tabulation of Data
• Measures of Central Tendency
• Mathematical averages including arithmetic mean, geometric mean and harmonic mean.
• Positional Averages Mode and Median (and other partition values including quartiles, deciles, and percentiles)
• Absolute and relative measures of dispersion
• 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
• Correlation Analysis
• Meaning of Correlation: simple, multiple and partial; linear and non-linear, Correlation and Causation,
• Scatter diagram, Pearson’s co-efficient of correlation; calculation and properties
• Correlation and Probable error;
• Rank Correlation
• 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 the estimate
• 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
• Components of time series;
• Additive and multiplicative models;
• Trend analysis: Fitting of trend line using principle of least squares
• Moving averages;
• Seasonal variations: Calculation of Seasonal Indices using Simple averages, Ratio-to-trend, and Ratio-to-moving averages methods.
• Uses of Seasonal Indices
• Gupta, Goyal, Sharma ,Biyani, Jain,& Gupta Business Statistics Ajmera Book Co.
• Das N G, Das J K, Business Mathematics and Statistics Tata McGraw Hill
• Sancheti & Kapoor Statistics Theory and Practice Sultan Chand and Sons New Delhi
• Gupta, S.P, & Gupta, A. ,Statistical Methods Sultan Chand& Sons, New Delhi
• Yadav, Jain, &Mittal ,Business Statistics Malik and Company Jaipur
• Gupta , S. C Fundamentals of Statistics Himalya Publishing House
• Norean R.S., Richard D. De Veaux, Paul & F. Velleman ,Business Statistics Pearson Education
• Levin, Richard, David S. Rubin, Rastogi, and Siddqui Statistics for Management ., Pearson Education
• Goon, Gupta & Dasgupta Fundamentals of Statistics The world press private ltd
