Business Statistics
MBA – II
DBA – 462
Definition of the word Statistics in singular sense as well as in plural sense. Kind of data and methods of its collection. Primary and Secondary data. Grouping of data – graphic and diagrammatic representation. Central tendency of data and its measures, their merit and demerit Quantities. Dispersion and its measure, absolute and relative both. Symmetry and skewness – measure of skewness. Permutation and Combination. Sets operation.
Introduction to probability theory. Basic concepts of mutually exclusive and not mutually exclusive events. Dependent and independent events. Addition and multiplication laws of probability. Concept of variable and random variable. Mathematical expectation of a random variable. Finding mean, variance, standard deviation and coefficient of variation of probability distribution. Discrete probability distribution such binomial Hyper geometric and Poisson distribution and their properties. Application of these distribution in solving business problems. Concept of regression and correlation when x and y linearly related variables and their measures. Scatter diagram and fitting curves to the observed data by principle of least squares. Index number and its types. Weighted index number and its measures. Consumer price index number and its applications.
Recommended Books:
- Ronald E. Walpole, introduction to Statistics. 3rd Edition 1982
- Schaums Outline Series 1992.
- Authoen. “Statistic “, Cambridge University Press 1997.
- “Elementary Probability”, Cambridge University 1996.
- J. Kazmier, “Theory and problems of Business Statistics”, Schaum Outline Series.