Business Statistics

Babasaheb Bhimrao Ambedkar University · LL.B. Semester 2 · BBM-205

Unit I — Overview of Business Statistics

i. Definition, important and limitations; Functions and scope of statistics; · ii. Types of data; · iii. Data collection techniques; · iv. Presentation of data- tabulation, charting and diagrammatic

Unit II — Measures of Central Tendency and Dispersion

i. Central tendency- mean, median, mode, partition values; · ii. Variation - range, quartile deviation, average deviation, standard deviation, Lorenz curve; Skegness, moments and kurtosis

Unit III — Correlation and Regression analysis

i. Significance of study of correlation; Correlation and causation; · ii. Types of correlations; · iii. Measurement of correlation (Karl Pearson's methods, Spearman's rank correlation); · iv. Regression analysis: Difference between correlation and regression; Bivariate regression model & regression equations of Y on X; · v. Index Numbers; Times series analysis.

Unit IV — Sampling & Tests of Hypothesis

i. Sampling and Sampling Distributions; · ii. Procedure of hypothesis testing; Type I and Type II errors; One tailed and two tailed tests; Testing of hypothesis w.r.t. large samples, about population means, · iii. Difference between means, attributes, population proportion and difference between two proportions; Chi-square test; · iv. Analysis of Variance; Statistical decision making