BCOM GE201-18

Business Statistics

 Course Objective: The course aims to familiarize students with the basic statistical tools used to summarize and analyze quantitative information for decision making. Analysis of numbers is required for taking decisions related to every aspect of business.

Unit I

Introduction to Statistics: Meaning, Definitions, Features of statistics, Importance, Functions, Scope and Limitations of Statistics.

Data Collection: Sources of Primary and Secondary data. Presentation of Data. Frequency distribution.

Sampling Concepts: Meaning of Population and Sample, Parameters and Statistics, Descriptive and Inferential Statistics, Probability and Non Probability Sampling Methods including Simple Random Sample, Stratified Sampling, Systemetic Sampling, Judgement Sampling and Convenience Sampling.

                                                      Unit II

Measures of Central Tendency: Mathematical averages including arithmetic mean, geometric mean and harmonic mean, properties and applications. Positional Averages: Mode and median (and other partition values including quartiles, deciles and percentile. Graphic presentation of measures of central tendency.

Measures of Variation: Absolute and relative measures. Range, quartile deviation, mean deviation, standard deviation and their coefficients. Properties of Standard Deviation and Variance.

Sampling Distribution: Concept of Sampling Distribution,Formulation of Sampling Distribution of Mean and Sampling distribution of statndard deviation/Variance.

Unit III
Simple Correlation Analysis: Meaning of Correlation, Simple, multiple and partial, linear and non linear correlation, correlation and causation, scatter diagram,karl pearson’s correlation coefficient and Rank Correlation.

Simple Regression Analysis:Meaning of Regression,Principle of least square and regression analysis,Calculation of regression coefficient,properties of regression coefficient,Relationship between correlation and regression coefficient.

Unit IV
Theory of Probability: Meaning of Probility, Approaches to the calculation of probabability, calculation of event probabbilities, Addition and Multiplication, Laws of Probabbility (Proof not required), Conditional Probability and Bayes’ Theorem (Proof
not required).

Probabability Distribution: Binomial Distribution:Prbabability Distribution function,Constants,Shape ,Fitting of Binomial Distribution, Poission Distribution:Probbability Function (including Poission approximation to binomial distribution) Constatnts,Fitting of Poission Distribution, Normal Distribution:Probabability Distribution Function,Properties of Normal
Curve,Calculation of Probababilities.