Total Hours: 50 Work load 4 Hrs/ week.
Pedagogy: Lectures, Assignments, Practicals etc.
Objective: To make students understand the statistical tools for business decisions.
Module – I
Introduction to statistics – meaning, definition function and scope in business and industry
Collection of data - primary and secondary data . Questionnaire meaning Classification and Tabulation. Construction of frequency distribution for univariate data
Presentation of data by diagrams and graphs
Diagrams – simple multiple component and percentage diagram. Pie diagram and rectangular diagram
Graphs – histogram, frequency curve, frequency polygon and ogive curve
Module – II
Measure of central tendency
Meaning of mean, median, mode, geometric mean, harmonic mean, partition values with examples merits and demerits.
Measures of dispersion
Meaning of range, quartile deviation, mean deviation and standard deviation and their relative measures with examples
Measures of Skewness- Karl Pearson’s and Bowley’s Co-efficient of Skewness
Module – III
Time series analysis
Meaning, definition and component of time series. Methods of measuring secular trend
Moving average method, method of least squares( linear trend only)
Index numbers – meaning and uses of index numbers
Construction of index numbers by Laspeyre’s, Paasches’s, fisher’s and Marshall
Edgeworth’s price and quantity index numbers. Test of consistency
Cost of living index number
(20 hrs) Suggested books:
- Business Mathematics – Sancheti & Kapoor
- Business Mathematics – Qazi Zameeruddin UK Khanna, S.K.Bhambri
- Business Statistics- S.P Gupta & M.P Gupta