Code: 3.1 

           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 

(15 hrs)

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

(15 hrs)

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:

  1. Business Mathematics – Sancheti & Kapoor
  2. Business Mathematics – Qazi Zameeruddin UK Khanna, S.K.Bhambri
  3. Business Statistics- S.P Gupta & M.P Gupta