Business Statistics - I

Prepared By:
Md. Monowar Uddin Talukdar
Lecturer
Department of Business Administration
Khwaja Yunus Ali University 2021
 Collection of Statistical Data
• Outlines:
• 1. Data
• 2. Collection of Data
• 3. Advantages of Primary Data
• 4. Procedure for collecting Primary Data
• 5. Different stages of collections of statistical data
• 6. Sources of Secondary Data
• 7. Limitations of secondary data
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 Collection of Data
• Data:
A collection of observations expressed in numerical figures obtained by
measuring or counting.

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 Collection of Data
• Fist steps in statistical work is obtain data. Data can obtain from two
important sources:
1. Primary data
2. Secondary data

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 Collection of Statistical Data:
• Primary data:
When data are collected for a specific purpose directly from the field of enquiry in this
sense these data are original in nature, to conduct first hand investigation is called
primary data. The work of collecting original data is usually limited by time, money and
manpower available for the study. Usually trade associations collect data from their
member concerns; Govt. organizations collect data from its subordinate offices.
There are two basic methods of obtaining primary data:
1. Questioning, and
2. Observation.
Md. Monowar Uddin Talukdar, monowarjkkniu@gmail.com, 01718650131 2021
 Collection of Statistical Data:
• Secondary data:
Numerical information which has been previously collected as primary data
by some agency for a specific purpose but is now complied from that source
for use in a different connection is called secondary data. Secondary data can
be obtained from journals, reports, govt. publications, publications of research
organizations. The reason is that such data may be full of errors because of
bias, inadequate size of the sample, substitution, errors of definition, arithmetic
errors, etc. Even there is no error secondary data may not be suitable and
adequate for the purpose of the inquiry.
Md. Monowar Uddin Talukdar, monowarjkkniu@gmail.com, 01718650131 2021
 Relative advantages of Primary Data:
• Primary data contain more detailed information and some information are
supposed or condensed in secondary data.
• Secondary data may contain errors like transcribing errors etc. while primary data
can not have such errors.
• In the primary data precise definition of the terms used and scope of the data are
mentioned.
• Primary data often include the method of procedure or any approximation used so
that one can know its limitations but secondary data usually lack such information.
Md. Monowar Uddin Talukdar, monowarjkkniu@gmail.com, 01718650131 2021
 Procedure for collecting Primary Data:
An invigilator may collect primary data either
• By direct personal observation, or
• By indirect oral investigation, or
• By sending questionnaires by mail, or
• By sending schedule through paid investigators.
Md. Monowar Uddin Talukdar, monowarjkkniu@gmail.com, 01718650131 2021
 Different stages of collections of statistical
data.

Statistical enquiry consists of the following stages:

• Planning
• Framing Questionnaire
• Collection of data
• Editing the Returns
• Analysis of data and their interpretations
• Preparation of Report
Md. Monowar Uddin Talukdar, monowarjkkniu@gmail.com, 01718650131 2021
 Sources of Secondary Data:
• Publications of State Governments, Foreign Govt. & Ministry and
international bodies like ILO, UNO, UNESCO, WHO, etc.
• Publications of various Chambers of Commerce, Trade Associations, Co-
operative Societies, etc.
• Reports of Committees and Commission of Enquiry appointed time to time
for specific purposes of Enquiry.
• Reports and Research papers published by research scholars, Labor and
Trade Unions etc.
Md. Monowar Uddin Talukdar, monowarjkkniu@gmail.com, 01718650131 2021
 Limitations of secondary data
• Transcribing errors: Errors occurring due to wrong transcription of the
primary data.
• Estimating errors: The data published in many secondary data are mere
estimates and no facts.
• Error due to bias: Sometimes fictitious figures are put in secondary data.

Md. Monowar Uddin Talukdar, monowarjkkniu@gmail.com, 01718650131 2021

 Procedures for the Collection of Data
• There are two procedures as:
• By complete Enumeration
• By Sample Survey.

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 Procedures for the Collection of Data
• By complete Enumeration: When information is collected in respect of
every individual person or item of a given population, we say that the
enquiry has been done by complete enumeration or census. This process is
called Census Survey.
• By Sample Survey: But in most cases of statistical inquiry, because of
limitations of time and money, a portion only of the population is examined
and the data collected there from. The process of partial enumeration is
known as sample survey. The results and findings are, however, made
applicable to the whole field of inquiry. This is known as Sampling.
Md. Monowar Uddin Talukdar, monowarjkkniu@gmail.com, 01718650131 2021
 Sample Question
(Each question carries one marks)
• Define primary data.
• What is secondary data ?
• Give few sources of secondary data.
• Why questionnaire is prepared?
• Why pre-testing of a questionnaire is desirable?
• Is primary source more reliable than secondary sources?
• Name few sources of business data.
• Statistics are dangerous in the hands of the inexpert.
Md. Monowar Uddin Talukdar, monowarjkkniu@gmail.com, 01718650131 2021
 Sample Question
(Each question carries four marks)
• Distinguish between primary and secondary data.
• What are the methods of primary data?
• Briefly explain the characteristics of a good questionnaire.
• Discuss the merits and limitations of collecting primary data through
questionnaire.

Md. Monowar Uddin Talukdar, monowarjkkniu@gmail.com, 01718650131 2021

 •Flash Back

Md. Monowar Uddin Talukdar, monowarjkkniu@gmail.com, 01718650131 2021