Business Statistics

Paper Code: 
24CATG201
Credits: 
04
Contact Hours: 
60.00
Max. Marks: 
100.00
Objective: 

This course will enable the students to Understand the fundamental concepts and principles of statistical analysis and their application in business decision-making

 

 

 

Course Outcomes: 

Course Outcomes (COs):

Course

Learning outcome

(at course level)

Learning and teaching strategies

Assessment Strategies

Course Code

Course title

24CATG201

Business Statistics (Theory)

 

CO31: Examine the methods of collecting data, classify and present in the form of tables, Select and apply appropriate measures of central tendency

CO32: Investigate the data sets to find dispersion and skewness amongst them

CO33: Analyze the data sets to identify the level of association and cause and effect relationship in them

CO34: Construct the index numbers

CO35: Evaluate a sequence of data points collected over an interval of time

CO36: Contribute effectively in course-specific interaction

 

Approach

in

teaching:

Interactive

Lectures,

Discussion,

Tutorials,

Problem solving sessions, Presentations

Learning

activities

for the

students:

Self-learning

assignments, Case Study analysis, Presentations, Group discussions

  

Continuous Assessment Test, Semester End Examinations, Quiz, Solving numerical problems, Assignments, Class Presentations, Individual and group projects.

 

12.00
Unit I: 
Statistical Data and Descriptive Statistics
  • Introduction
  • Definition of Statistics, Importance, Limitations and Scope of Statistics,
  • Types and Source of Data,
  • Methods of Data Collection
  • Classification and Tabulation of Data
  • Measures of Central Tendency
  • Mathematical averages including arithmetic mean, geometric mean and harmonic mean.
  • Positional Averages Mode and Median (and other partition values including quartiles, deciles, and percentiles)
12.00
Unit II: 
Measures of Variation
  • Absolute and relative measures of dispersion
  • Range, quartile deviation, mean deviation, standard deviation, and their coefficients, Properties of standard deviation/variance
  • Skewness
  • Meaning, Measurement using Karl Pearson and Bowley’s measures
12.00
Unit III: 
Simple Correlation and Regression Analysis
  • Correlation Analysis
  • Meaning of Correlation: simple, multiple and partial; linear and non-linear, Correlation and Causation,
  • Scatter diagram, Pearson’s co-efficient of correlation; calculation and properties
  • Correlation and Probable error;
  • Rank Correlation
  • Concurrent Deviation
  • Regression Analysis:
  • Principle of least squares and regression lines,
  • Regression equations and estimation;
  • Properties of regression coefficients;
  • Relationship between Correlation and Regression coefficients;
  • Standard error of the estimate
12.00
Unit IV: 
Index Numbers
  • Meaning and uses of index numbers;
  • Construction of index numbers: fixed and chain base: univariate and composite. Aggregative and average of relatives – simple and weighted
  • Tests of adequacy of index numbers,  Base shifting, splicing and deflating.
  • Problems in the construction of index numbers
12.00
Unit V: 
Time Series Analysis
  • Components of time series;
  • Additive and multiplicative models;
  • Trend analysis: Fitting of trend line using principle of least squares
  • Moving averages;
  • Seasonal variations: Calculation of Seasonal Indices using Simple averages, Ratio-to-trend, and Ratio-to-moving averages methods.
  • Uses of Seasonal Indices
Essential Readings: 
  • Gupta, Goyal, Sharma ,Biyani, Jain,& Gupta  Business Statistics Ajmera Book Co.
  • Das N G, Das J K, Business Mathematics and Statistics Tata McGraw Hill
  • Sancheti & Kapoor  Statistics Theory and Practice Sultan Chand and Sons New Delhi

 

 

 

References: 

Suggested Readings:

  • Gupta, S.P, & Gupta, A.  ,Statistical Methods  Sultan Chand& Sons, New Delhi
  • Yadav, Jain, &Mittal ,Business Statistics Malik and Company Jaipur
  • Gupta , S. C Fundamentals of Statistics Himalya Publishing House
  • Norean R.S., Richard D. De Veaux, Paul & F. Velleman ,Business Statistics Pearson  Education 
  • Levin, Richard, David S. Rubin, Rastogi, and Siddqui  Statistics for Management  ., Pearson Education
  • Goon, Gupta & Dasgupta Fundamentals of Statistics  The world press private ltd

E-Content:

Reference Journals::

  • IUP Journal of Accounting Research
  • The Indian Journal of Commerce
  • Metamorphosis A Journal of Management Research
  • Nirma University Journal of Business & Management Studies

 

Note  The candidate shall be permitted to use battery operated pocket calculator that should not have more than 12 digits, 6 functions and 2 memories and should be noiseless and cordless.

Academic Year: 
2024-2025
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