Business Statistics : for B. Com course of Uttar Pradesh Universities

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Cover Contents Preface About the Author Chapter 1: Statistics: An Overview 1.1 Reasons for Learning Statistics 1.2 Growth and Development of Statistics 1.3 Statistics Defined 1.4 Types of Statistical Methods 1.5 Importance and Scope of Statistics 1.5.1 Statistics and the State 1.5.2 Statistics in Economics 1.5.3 Statistics in Business Management 1.5.4 Statistics in Physical Sciences 1.5.5 Statistics in Social Sciences 1.5.6 Statistics in Medical Sciences 1.5.7 Statistics and Computers 1.6 Limitations of Statistics 1.6.1 Statistics Does Not Study Qualitative Phenomena 1.6.2 Statistics Does Not Study Individuals 1.6.3 Statistics Can Be Misused Conceptual Questions 1A 1.7 Need for Data 1.7.1 Types of Data 1.8 Sources of Data 1.8.1 Primary Data Sources 1.8.2 Secondary Data Sources Chapter Concepts Quiz Glossary of Terms Chapter 2: Data Classification, Tabulation and Presentation 2.1 Introduction 2.2 Classification of Data 2.2.1 Requisites of Ideal Classification 2.2.2 Basis of Classification 2.3 Organizing Data Using Data Array 2.3.1 Frequency Distribution 2.3.2 Methods of Data Classification 2.3.3 Bivariate Frequency Distribution 2.3.4 Types of Frequency Distributions Conceptual Questions 2A Self-Practice Problems 2A Hints and Answers 2.4 Tabulation of Data 2.4.1 Objectives of Tabulation 2.4.2 Parts of a Table Conceptual Questions 2B Self-Practice Problems 2B Hints and Answers 2.5 Graphical Presentation of Data 2.5.1 Functions of a Graph 2.5.2 Advantages and Limitations of Diagrams (Graphs) 2.5.3 General Rules for Drawing Diagrams 2.6 Types of Diagrams 2.6.1 One-Dimensional Diagrams 2.6.2 Two-Dimensional Diagrams 2.6.3 Three-Dimensional Diagrams 2.6.4 Pictograms or Ideographs 2.6.5 Cartograms of Statistical Maps Conceptual Questions 2C Self-Practice Problems 2C Formulae Used Chapter Concepts Quiz Review Self-Practice Problems Glossary of Terms Chapter 3: Measures of Central Tendency 3.1 Introduction 3.2 Objectives of Averaging 3.3 Requisites of a Measure of Central Tendency 3.4 Measures of Central Tendency 3.5 Mathematical Averages 3.5.1 Arithmetic Mean of Ungrouped (or Raw) Data 3.5.2 Arithmetic Mean of Grouped (or Classified) Data 3.5.3 Some Special Types of Problems and Their Solutions 3.5.4 Advantages and Disadvantages of Arithmetic Mean 3.5.5 Weighted Arithmetic Mean Conceptual Questions 3A Self-Practice Problems 3A Hints and Answers 3.6 Geometric Mean 3.6.1 Combined Geometric Mean 3.6.2 Weighted Geometric Mean 3.6.3 Advantages, Disadvantages, and Applications of G.M. Conceptual Questions 3B Self-Practice Problems 3B Hints and Answers 3.7 Harmonic Mean 3.7.1 Advantages, Disadvantages, and Applications of H.M. 3.8 Relationship among A.M., G.M., and H.M. Self-Practice Problems 3C Hints and Answers 3.9 Averages of Position 3.9.1 Median 3.9.2 Advantages, Disadvantages, and Applications of Median 3.10 Partition Values—Quartiles, Deciles, and Percentiles 3.10.1 Graphical Method for Calculating Partition Values Conceptual Questions 3C Self-Practice Problems 3D Hints and Answers 3.11 Mode 3.11.1 Graphical Method for Calculating Mode Value 3.11.2 Advantages and Disadvantages of Mode Value 3.12 Relationship Between Mean, Median, and Mode 3.13 Comparison Between Measures of Central Tendency Conceptual Questions 3D Self-Practice Problems 3E Hints and Answers Formulae Used Chapter Concepts Quiz Review Self-Practice Problems Hints and Answers Glossary of Terms Chapter 4: Measures of Dispersion 4.1 Introduction 4.2 Significance of Measuring Dispersion 4.2.1 Essential Requisites for a Measure of Variation 4.3 Classification of Measures of Dispersion 4.4 Distance Measures 4.4.1 Range 4.4.2 Interquartile Range or Deviation Conceptual Questions 4A Self-Practice Problems 4A Hints and Answers 4.5 Average Deviation Measures 4.5.1 Mean Absolute Deviation 4.5.2 Variance and Standard Deviation 4.5.3 Mathematical Properties of Standard Deviation 4.5.4 Coefficient of Variation Conceptual Questions 4B Self-Practice Problems 4B Hints and Answers Formulae Used Chapter Concepts Quiz Review Self-Practice Problems Hints and Answers Glossary of Terms Chapter 5: Skewness and Kurtosis 5.1 Introduction 5.2 Measures of Skewness 5.2.1 Relative Measures of Skewness Conceptual Questions 5A Self-Practice Problems 5A Hints and Answers 5.3 Kurtosis 5.3.1 Measures of Kurtosis Conceptual Questions 5B Self-Practice Problems 5B Hints and Answers Formulae Used Review Self-Practice Problems Hints and Answers Glossary of Terms Chapter 6: Probability and Probability Distributions 6.1 Introduction 6.2 Concepts of Probability 6.2.1 Random Experiment 6.2.2 Sample Space 6.2.3 Event Types 6.3 Definition of Probability 6.3.1 Classical Approach 6.3.2 Relative Frequency Approach 6.3.3 Subjective Approach 6.3.4 Fundamental Rules of Probability 6.3.5 Glossary of Probability Terms 6.4 Combinations and Permutations Conceptual Questions 6A Self-Practice Problems 6A Hints and Answers 6.5 Rules of Probability and Algebra of Events 6.5.1 Rules of Addition 6.5.2 Rules of Multiplication Self-Practice Problems 6B Hints and Answers 6.6 Bayes’ Theorem Self-Practice Problems 6C Hints and Answers 6.7 Probability Distributions 6.8 Expected Value and Variance of a Random Variable 6.8.1 Properties of Expected Value and Variance Conceptual Questions 6B Self-Practice Problems 6D Hints and Answers 6.9 Discrete Probability Distributions 6.9.1 Binomial Probability Distribution Conceptual Questions 6C Self-Practice Problems 6E Hints and Answers 6.9.2 Poisson Probability Distribution Conceptual Questions 6D Self-Practice Problems 6F Hints and Answers 6.10 Continuous Probability Distributions 6.10.1 Normal Probability Distribution Function Conceptual Questions 6E Self-Practice Problems 6G Hints and Answers Formulae Used Chapter Concepts Quiz Review Self-Practice Problems Hints and Answers Glossary of Terms Chapter 7: Sampling and Sampling Distributions 7.1 Introduction 7.2 Reasons of Sample Survey 7.3 Population Parameters and Sample Statistics 7.4 Sampling Methods 7.4.1 Probability Sampling Methods 7.4.2 Non-Random Sampling Methods 7.5 Sampling Distributions Conceptual Questions 7A 7.6 Sampling Distribution of Sample Mean 7.6.1 Sampling Distribution of Mean When Population Has Normal Distribution 7.6.2 Sampling Distribution of Difference Between Two Sample Means Self-Practice Problems 7A Hints and Answers 7.7 Sampling Distribution of Sample Proportion 7.7.1 Sampling Distribution of the Difference of Two Proportions Self Practice Problems 7B Hints and Answers Formulae Used Chapter Concepts Quiz Review Self-Practice Problems Hints and Answers Glossary of Terms Chapter 8: Correlation Analysis 8.1 Introduction 8.2 Significance of Measuring Correlation 8.3 Correlation and Causation 8.4 Types of Correlations 8.4.1 Positive and Negative Correlation 8.4.2 Linear and Non-Linear Correlation 8.4.3 Simple, Partial, and Multiple Correlation 8.5 Methods of Correlation Analysis 8.5.1 Scatter Diagram Method 8.5.2 Karl Pearson’s Correlation Coefficient 8.5.3 Probable Error and Standard Error of Coefficient of Correlation 8.5.4 The Coefficient of Determination Self-Practice Problems 8A Hints and Answers 8.5.5 Spearman’s Rank Correlation Coefficient Self-Practice Problems 8B Hints and Answers Conceptual Questions Formulae Used Chapter Concepts Quiz Review Self-Practice Problems Hints and Answers Chapter 9: Regression Analysis 9.1 Introduction 9.2 Advantages of Regression Analysis 9.3 Parameters of Simple Linear Regression Model 9.3.1 Regression Coefficients 9.4 Methods to Determine Regression Coefficients 9.4.1 Least Squares Normal Equations 9.4.2 Deviations Method Self-Practice Problems 9A Hints and Answers Conceptual Questions Formulae Used Chapter Concepts Quiz Review Self-Practice Problems Hints and Answers Chapter 10: Forecasting and Time Series Analysis 10.1 Introduction 10.2 Forecasting Methods 10.2.1 Quantitative Forecasting Methods 10.2.2 Qualitative Forecasting Methods 10.3 Time Series Analysis 10.3.1 Objectives of Time Series Analysis 10.3.2 Time Series Patterns 10.3.3 Components of a Time Series 10.4 Time Series Decomposition Models 10.4.1 Multiplicative Model 10.4.2 Additive Model Conceptual Questions 10A 10.5 Quantitative Forecasting Methods 10.5.1 Freehand (or Graphical) Method 10.5.2 Smoothing Methods Self-Practice Problems 10A Hints and Answers 10.6 Trend Projection Methods 10.6.1 Linear Trend Model 10.6.2 Exponential Trend Model 10.6.3 Changing the Origin and Scale of Equations Self-Practice Problems 10B Hints and Answers 10.7 Measurement of Seasonal Effects 10.7.1 Seasonal Index 10.7.2 Method of Simple Averages 10.7.3 Ratio-to-Trend Method 10.7.4 Ratio-to-Moving Average Method 10.7.5 Link Relative Method 10.8 Measurement of Cyclical Variations—Residual Method 10.9 Measurement of Irregular Variations Conceptual Questions 10B Self-Practice Problems 10C Hints and Answers Formulae Used Review Self-Practice Problems Hints and Answers Glossary of Terms Chapter 11: Index Numbers 11.1 Introduction 11.2 Index Number Defined 11.3 Types of Index Numbers 11.4 Characteristics and Uses of Index Numbers 11.4.1 Characteristics of Index Numbers 11.4.2 Uses of Index Numbers Conceptual Questions 11A 11.5 Methods for Construction of Price Indexes 11.6 Unweighted Price Indexes 11.6.1 Single Price Index 11.6.2 Aggregate Price Index 11.6.3 Average Price Relative Index Self-Practice Problems 11A Hints and Answers 11.7 Weighted Price Indexes 11.7.1 Weighted Aggregate Price Index 11.7.2 Weighted Average of Price Relative Index 11.8 Quantity or Volume Indexes 11.9 Value Indexes Self-Practice Problems 11B Hints and Answers 11.10 Tests of Adequacy of Indexes 11.10.1 Time Reversal Test 11.10.2 Factor Reversal Test 11.10.3 Circular Test 11.11 Chain Indexes Self-Practice Problems 11C Hints and Answers 11.13 Consumer Price Indexes 11.13.1 Uses of Consumer Price Index (CPI) Number 11.13.2 Construction of a Consumer Price Index Conceptual Questions 11B Formulae Used Chapter Concepts Quiz Review Self-Practice Problems Hints and Answers Glossary of Terms