Business Statistics

Paper Code: 
24AAF315
Credits: 
3
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 

Course Objective:

 

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

Course Outcomes

 

Learning and teaching strategies

Assessment Strategies

Course Code

Course

Title

24AAF315

 

Business

Statistics

(Theory)

CO109: Examine the methods of collecting data, classify and present in the form of tables.

CO110: Select and apply appropriate measures of central tendency.

CO111: Investigate the data sets to find variation amongst them

CO112: Analyse the bivariate data sets to identify the level of association and cause and effect relationship in them

CO113: Construct permutations, combinations and probabilities for various events

CO114: Contribute effectively in course – specific interaction.

Approach in teaching Interactive Lectures, Discussion, Tutorials,

 

Learning activities for the Students:

Reading assignments, Action Research

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

 

9.00
Unit I: 
Introduction to Statistics:

• 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

9.00
Unit II: 
Measure of Central Tendency:

• Measure of Central Tendency: Arithmetic Mean (Simple and Weighted), Median (Including Quartiles, Quintiles, Octiles, Deciles, Percentile), Mode, Geometric and Harmonic Mean-Simple and Weighted

9.00
Unit III: 
Dispersion & Skewness:

• 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

9.00
Unit IV: 
Correlation & Regression:

• Correlation: Meaning and Significance, Scatter Diagram Correlation Graph, Karl Pearson’s Coefficient between two variables, Coefficient of Correlation by Spearman’s Rank Difference Method, 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

9.00
Unit V: 
Concept of Permutation and Combinations:

• Probability- Basic Concepts, Importance of Concept of Probability, Theorem of Probability (Additional Theorem and Multiplication Theorem), Conditional Probability, Bayes’ Theorem, Mathematical Expectation

Essential Readings: 

1. Business Statistics- Gupta, Goyal, Sharma , Biyani, Jain, Gupta (Ajmera Book Co.)
2. Business Statistics-Garg, Sharma, Jain, Pareek (Shivam Book House Pvt Ltd)
3. Statistics Theory and Practice-Sancheti and Kapoor (Sultan Chand and Sons New Delhi)
4. Advanced Business Statistics- Prof N.P Agarwal , Dr Ankita Chaturvedi ( Ramesh Book Depot)

References: 

1. Statistical Methods- S.P Gupta, Archana Gupta(Sultan Chand& Sons, New Delhi)
2. Business Statistics-Yadav, Jain, Mittal (Malik and Company Jaipur)
3. Fundamentals of Statistics- S. C Gupta (Himalya Publishing House)
4. Business Statistics -Norean Radke Sharpe, Richard D. De Veaux, Paul F. Velleman,(Pearson Education)
5. Statistics for Management -Levin, Richard, David S. Rubin, Rastogi, and Siddqui., (Pearson Education)
6. Advanced Business Statistics :Sharad S. Johri, Rajendra Rathore (Atlantic Publishers & Distributors (P) Limited)
7. Fundamentals of Statistics -Goon, Gupta and Dasgupta (The world press private ltd)

E-Content:
1. http://www.ddegjust.ac.in/studymaterial/mcom/mc-106.pdf
2. http://gurukpo.com/Content/BBA/BBA_lll_sem_Statistical_Methods.pdf
3. http://103.5.132.213:8080/jspui/bitstream/123456789/1103/1/Business%20St...(%20PDFDrive.com%20)%20(2).pdf
4. https://faculty.ksu.edu.sa/sites/default/files/business-statistics-for-c...
5. http://web.uvic.ca/~nkarlson/col11776-1.34.pdf
6. https://oxvard.files.wordpress.com/2018/05/applied-business-by-trevor-we...

 
Reference Journals:

1. IUP Journal of Accounting Research
2. The Indian Journal of Commerce
3. Metamorphosis A Journal of Management Research
4. Nirma University Journal of Business & Management Studies

Academic Year: 
2024-2025
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