Business Statistics

Paper Code: 
24CATG211
Credits: 
4
Contact Hours: 
60.00
Max. Marks: 
100.00
Objective: 

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Course Objectives:

This course will enable the students to Understand the fundamental concepts and principles of statistical analysis and their application in business decision-making

 

Course Outcomes (COs):

Course

Learning outcome

(at course level)

Learning and teaching strategies

Assessment Strategies

Course Code

Course title

24CATG211

Business Statistics (Theory)

 

CO37: Examine the methods of collecting data, classify and present in the form of tables, Select and apply appropriate measures of central tendency

CO38: Investigate the data sets to find dispersion and skewness amongst them

CO39: Analyze the data sets to identify the level of association and cause and effect relationship in them

CO40: Construct the index numbers

CO41: Evaluate a sequence of data points collected over an interval of time

CO42: Contribute effectively in course-specific interaction

Approach in teaching:

Interactive Lectures, Discussion,

Tutorials,

Reading

assignments; Solving

Questions.

Learning

activities

for the

students:

Self-learning assignments, Effective

questions,

Seminar

presentation. 

Class test, Semester end examinations, Quiz, Solving problems in tutorials, Assignments, Presentation, Individual and group projects.

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14.00
Unit I: 
Statistical Data and Descriptive Statistics:

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)

10.00
Unit II: 
Measures of Variation:

Measures of Variation:
● 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

12.00
Unit III: 
Simple Correlation and Regression Analysis:

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
● Concurrent Deviation
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

12.00
Unit IV: 
Index Numbers:

● 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

12.00
Unit V: 
Time Series Analysis:

● 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

Essential Readings: 

● 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

References: 

Suggested Readings:
● 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

e-Resources:
● http://www.ddegjust.ac.in/studymaterial/mcom/mc 106.pdf
● http://gurukpo.com/Content/BBA/BBA_lll_sem_Statistical_Methods.pdf
● http://103.5.132.213:8080/jspui/bitstream/123456789/1103/1/Business%20St...(%20PDFDrive.com%20)%20(2).pdf
● https://faculty.ksu.edu.sa/sites/default/files/business statistics for contemporary decision making by ken black_0.pdf

Reference Journals::
● IUP Journal of Accounting Research
● The Indian Journal of Commerce
● Metamorphosis A Journal of Management Research
● Nirma University Journal of Business & Management Studies

Academic Year: 
2024-2025
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