PROJECT

REPORT

ON

“BUSINESS STATISTICS & ANALYTICS”

In partial fulfilment of the requirement for the award of the Degree of

Master of Business Administration

(AFFILIATED TO DR. A.P.J. ABDUL KALAM TECHNICAL UNIVERSITY, LUCKNOW)

BUNDELKHAND INSITIUTE OF ENGINEERING TECHOLOGY JHANSI, UP

SUBMITTED TO SUMITTED BY

ARJUN VERMA AMIT KUMAR

Roll no.-2200430700001

MBA 1ST SEM.

 DECLARATION

I undersigned, hereby declare that the project titled “BUSINESS

STATISTICS & ANALYTICS” submitted in partial fulfilment for
the award of Degree of Master of Business Administration is confide
record of work done by me under the guidance of Arjun Verma
This report has not previously formed the basis for the award of any
degree, diploma, or similar title of any University.

DATE -
PLACE
-

NAME OF THE
STUDENT- ROLL NO -
 Department of Business Administration
BUNDELKHAND INSTITUTE OF ENGINEERING AND TECHNOLOGY, JHANSI

CERTIFICATE FROM INSTITUTION

This is to certify that Amit Kumar, First semester student of Master of

Business Administration, Bundelkhand Institute of Engineering and
Technology has completed the project report on “BUSINESS
STATISTICS & ANALYTICS”

Date:

Place
 Acknowledgement
“Acknowledgement is an art, one can write glib stanzas without meaning
a word, and on the other hand one can make a simple expression of
gratitude.”

I take the opportunity to express my gratitude to all of them who in

some way or the other helped me to accomplish this challenging project.
No amount of written expression is sufficient to show my deepest sense
of gratitude to them. I am highly indebted to my faculty guide Arjun
Verma and all the Faculty of M.B.A Department, B.I.E.T JHANSI for their
continuous support and guidance during the project who not only helped
me in the successful completion of this project report but also spread his
precious and valuable time in expending my knowledge base. I take
immense pleasure thanking him for supporting at stages of this project.
Finally, I am also grateful to all those personalities who have helped me
directly or indirectly in bringing up this project report
 Introduction:
Mean, median and mode are three different measures of central
tendency used to describe a dataset. They are statistical tools
used to summarize data and provide information about the
typical or central value of a set of observations. Each of these
measures has its own strengths and weaknesses and can be used
in different situations depending on the nature of the data.

Mean:
The mean is the most commonly used measure of central
tendency. It is also known as the arithmetic mean and is
calculated by adding up all the values in a dataset and then
dividing by the number of observations. The mean is sensitive to
extreme values, also known as outliers, in the dataset. If there are
outliers, the mean may not be a good representation of the
central tendency of the data.

For example, consider the following set of data: 10, 20, 30, 40, 50.
The mean of this dataset is calculated as (10 + 20 + 30 + 40 +
50) / 5 = 30.

 Median: The median is the middle value of a dataset when the

values are arranged in ascending or descending order. It is the
value that separates the lower half of the data from the upper
half. If there is an even number of values, the median is the
average of the two middle values.
 Mode: The mode is the value that occurs most frequently in a
dataset. It is the value that has the highest frequency, or the
 greatest number of occurrences. A dataset can have multiple
modes if there are two or more values that occur with the same
highest frequency. If there is no value that occurs more than once,
then the dataset has no mode.

Uses: The mean, median, and mode are measures of central

tendency that can be used in organizations in various ways:

1. Performance Evaluation: Mean, median, and mode

can be used to analyze employee performance. For instance,
mean can be used to determine the average performance of
employees, median can be used to identify the middle-
performing employees, and mode can be used to identify the
most frequently occurring performance levels.
2. Sales Analysis: In organizations that engage in sales,
mean, median, and mode can be used to analyze sales data. Mean
can be used to determine the average sales, median can be used
to identify the middle-performing salespersons, and mode can be
used to identify the most frequently occurring sales levels.
3. Resource Planning: Mean, median, and mode can also
be used in resource planning. For example, mean can be used to
determine the average number of resources needed for a project,
median can be used to identify the middle-level resources
needed, and mode can be used to identify the most frequently
occurring resource needs.
4. Quality Control: Mean, median, and mode can be used in
quality control to identify patterns and trends in data. For
 example, mean can be used to identify the average quality of
products, median can be used to identify the middle-quality
products, and mode can be used to identify the most frequently
occurring quality levels.
5. Risk Management: Mean, median, and mode can also
be used in risk management. For instance, mean can be used to
determine the average risk levels, median can be used to identify
the middle-level risks, and mode can be used to identify the most
frequently occurring risks.

In summary, the mean, median, and mode can be used in various

ways to analyze data and make informed decisions in
organizations.