H1UB105T: BUSINESS STATISTICS Credits: 4

Course Description: The purpose of this course is to understand basics of statistics with special
emphasis on central tendency, measure of variance. Student will also have an understanding of
correlation and regression techniques of forecasting the future. Students will understand the
importance of time series data and the relevance of past data to find out patterns and future estimation.

Course Outcomes:
After completing this course, a student will have the ability to:
1. Understand the basics of statistics and its relevance in today’s environment.
2. Understand the importance of central tendencies and measures of variation.
3. Understand correlation and regression techniques for forecasting the future.
4. Understand index numbers and their relevance in the cut-throat competitive environment.
5. Understand time series data and the relevance of past data to find out patterns and future
estimation.

Course Contents:
Units Number of
Lectures
Unit I: Introduction of Statistics and Measures of Dispersion 6
Indian Statistics: Meaning, About father of Indian Statistics (Prof. Prasanta
Chandra Mahalanobis). Introduction to Statistics: Meaning, Scope, Importance and
Limitation, Statistical Investigation-Planning and organization, Statistical units,
Methods of Investigation, Census and Sampling. Collection of Data- Primary and
Secondary Data, Editing of Data Classification of data, Frequency Distribution and
Statistical Series, Tabulation of Data Diagrammatical and Graphical Presentation of
Data.
Unit II: Measuring of Central Tendency 12
Arithmetic Mean (Simple and Weighted), Median (including quartiles, decides and
percentiles), Mode, Geometric and Harmonic Mean –Simple and Weighted, Uses and
Limitations of Measures of Central Tendency.
Absolute and Relative Measures of Dispersion; Quartile Deviation, Mean Deviation,
Standard Deviation and their Coefficients; Uses and Interpretation of Measures of
Dispersion. Skewness: Measures of Skewness.
Unit III: Simple Correlation and Regression Analysis 9
Correlation Analysis. Meaning of Correlation simple, multiple and partial; linear and
non-linear, Causation and correlation, Scatter diagram, Pearson’s co-efficient of
correlation; calculation and properties (proofs not required). Probable and standard
errors, Rank Correlation.
Regression Analysis. Principle of least squares and regression lines. Regression
equations and estimation. Standard Error of Estimates
Unit IV: Index Numbers 6
Meaning and uses of index numbers. Construction of index numbers: fixed and chain
base: univariate and composite. Aggregative and average of relatives – simple and
weighted. Tests of the adequacy of index numbers, Base shifting, splicing and
deflating. Problems in the construction of index numbers. Construction of consumer
price indices. Important share price indices
Unit V: Time Series Analysis 7
Components of time series. Additive and multiplicative models, Trend analysis.
Fitting of trend line using principle of least squares. Moving averages. Seasonal
variations- calculation and uses. Simple averages, ratio-to-trend, ratio-to-moving
averages and link-relatives methods.

Text Books
1. Levin, R. & Rubin, D. S. Statistics for
2. Management. Prentice Hall of India, 7/e.
3. J.K Sharma
Note: Latest edition of text book may be used.

Reference Books
1. Singh Y.P. & JK Singh. Statistics –II, Himalaya Publishing House, Delhi.
2. Karmel, P.H. and Polasek, M., (1978). Applied Statistics for Economists, Pitman, 4/e.
3. Webster, A. (1997). Applied Statistics for Business and Economics: An Essential Version.
McGraw-Hill, 3/e.
4. Siegel, A. F. Practical Business Statistics. Irwin McGraw Hill (International Edition), 4/e.