Definition and Functions of Statistics, Statistical Techniques Commonly used in Business Activities, Law of Statistics, Limitations of Statistics.
Collection and Presentation of Statistical Data: Primary and Secondary Data; Classification and Tabulation of data; Frequency Distribution of Data; Diagrams and Graphs.
Mean, Median, Mode, Standard Deviation
Simple Interest, Compound Interest, Present Value and Future Value of an Annuity
Sample Spaces, Events and Probability
Set Theory: Union, Intersection and Complement of Events
Conditional Probability, Intersection and Expected Value
Random Variable, Probability Distribution and Expectation
Familiarizing with the Concepts relating to Index Numbers and Time Series (Simple Numerical Problems).