Business Statistics
Year / Semester: 
3rd Semester

Basic aim of this course is to enable students to grasp the fundamentals of Statistics for interpreting business data.


Data Classification, Tabulation and Presentation: Meaning, objectives and types of classification, formation of frequency, Role of tabulation, types of tables, significance of diagram and graphs. Measures of Central Tendency and Dispersion: Meaning, and objectives of measures of Central Tendency, different measure viz. Arithmetic mean, Median, Mode, Geometric Mean and Harmonic Mean, characteristics, applications and limitations of these measures. Measures of variation viz. Range, Quartile Deviation Mean Deviation, Standard Deviation, Co-efficient of Variation and Skew ness. Correlation and Regression: Meaning of Correlation, types of Correlation: Positive and Negative Correlation, Simple, Partial and Multiple Correlation, Methods of studying Correlation; Scatter diagram, graphic and direct method. Properties of Correlation Co-efficient, Rank Correlation, Co-efficient of Determination, Lines of Regression, Co-efficient of Regression, Standard Error of Estimate.
Index Numbers and Time Series: Index Number and their uses in business. Construction of simple and weighed price, quantity and value index numbers Test for an ideal index numbers, Components of Time Series viz. Secular Trend, Cyclical, Seasonal and Irregular Variations, methods of Estimating Secular Trend. Seasonal Indices and its use in Business Forecasting and Limitations, Calculating Growth Rate in Time Series.

Suggested Readings: 
  1. S P GUPTA: Statistical Methods- Sultan Chand, Delhi
  2. Dr. B N GUPTA: Statistics (Sahityta Bhavan), Agra.
  3. C B GUPTA: Statistics, Himalaya Publications.
  4. ELLAHANCE : Statistical Methods
  5. Dr. Asthana: Elements of Statistics, Chaitanya.
  6. Dr. Sancheti & Kapoor : Statistics Theory, Methods and Application.
  7. Chikkodi & B.G. Satya Prasad: Business Statistics, Himalaya Publications.
  8. J.S. Chandan, Business Statistics.
  9. Agarwal, Business Statistics.
  10. Sharma, Business Statistics, Pearson.