# Business Statistics University of Mumbai BMS 1st Sem Notes

9th April 2020
 Unit 1 Introduction to Statistics {Book} Functions/Scope, Importance, Limitations of Statistics VIEW Data: Relevance of data in Current scenario VIEW Types of Date: VIEW Primary Data: Census vs Samples VIEW Method of Primary data collection VIEW Secondary Data: Merits, Limitations, Sources VIEW Presentation of Data: Classification, frequency distribution, Discrete & continuous VIEW Data Tabulation VIEW Graph: Frequency Table VIEW Bar Diagram, Histogram VIEW Pie chart VIEW Ogives VIEW Measures of Central Tendency: Mean (AM, Weighted, Combined) VIEW Median (Calculation and graphical using ogives) VIEW Mode (Calculation and Graphical using Histogram) VIEW Comparative analysis of all measures of central Tendency VIEW

 Unit 2 Measures of Dispersion, Co-relation and Linear Regression {Book} Measures of Dispersion: Range and co-efficient of Range VIEW Quartiles, Quartile Deviation and Quartile co-efficient VIEW Mean deviation with mean, Co-efficient of mean deviation VIEW Standard deviation with co-efficient of Variance VIEW Skewness VIEW Kurtosis VIEW Co-Relation: Karl Pearson & Rank co-relation VIEW Linear Regression: Least Square Method VIEW

 Unit 3 Time Series and Index Number {Book} Time Series: Least Square Method VIEW Moving average Method VIEW Determination of Season VIEW Index Number: VIEW Unweighted, Weighted Aggregate Method: Simple, Weighted average of Price Relatives VIEW Chain based index Numbers VIEW Base Shifting, Splicing and Deflating VIEW Cost of Living Index Number VIEW

 Unit 4 Probability and Decision Theory {Book} Probability VIEW Types VIEW Concept of Sample space, Event VIEW Addition and Multiplication laws of Probability VIEW Conditional Probability VIEW Baye’s Theorem VIEW Expectation & Variance VIEW Concept of Probability distribution VIEW Decision Theory: Acts, State of Nature event VIEW Pay offs, opportunity loss VIEW Decision making under certainty, uncertainty, Risk VIEW Non-Probability: Maximax, Maximin, Minimax, Regret, Laplace & Hurwicz VIEW Probabilistic (Decision making under risk): EMV, EOL, EVPI VIEW Decision Tree VIEW