Business Statistics

Paper Code: 
25CATG201
Credits: 
4
Contact Hours: 
60.00
Max. Marks: 
100.00
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: 

Course

Learning outcome (at course level)

Learning and teaching strategies

Assessment Strategies

Course Code

Course title

 

 

 

 

 

 

 

 

 

25CATG201

 

 

 

 

 

Business Statistics (Theory)

CO31: Examine the methods

of collecting data, classify

and present in the form of

tables, Select and apply

appropriate measures of

central tendency

CO32: Investigate the data

sets to find dispersion and

skewness amongst them CO33: Analyze the data sets to identify the level of

association and cause and

effect relationship in them

CO34: Construct the index

numbers

CO35: Evaluate a sequence

of data points collected over

an interval of time

CO36: Contribute effectively in course-specific interaction

Approach

in

teaching:

Interactive

Lectures,

Discussion,

Tutorials,

Problem solving

sessions, Presentations Learning

activities

for the

students:

Self-learning

assignments, Case

Study analysis,

Presentations,

Group discussions

Continuous

Assessment

Test, Semester

End

Examinations,

Quiz, Solving

numerical

problems,

Assignments, Class Presentations,

Individual and

group

projects.

 

12.00
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)
12.00
Unit II: 
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-Content:

● 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%20Statistics%20(% 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: 
2025-2026
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