Business Statistics

9th April 2020 1 By indiafreenotes

Unit 1 Introduction to Statistics {Book}

Functions/Scope, Importance, Limitations of Statistics

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Data: Relevance of data in Current scenario

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Types of Date:

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Primary Data: Census vs Samples

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Method of Primary data collection

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Secondary Data: Merits, Limitations, Sources

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Presentation of Data: Classification, frequency distribution, Discrete & continuous

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Data Tabulation

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Graph:

Frequency Table

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Bar Diagram, Histogram

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Pie chart

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Ogives

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Measures of Central Tendency:

Mean (AM, Weighted, Combined)

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Median (Calculation and graphical using ogives)

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Mode (Calculation and Graphical using Histogram)

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Comparative analysis of all measures of central Tendency

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Unit 2 Measures of Dispersion, Co-relation and Linear Regression {Book}

Measures of Dispersion:

Range and co-efficient of Range

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Quartiles, Quartile Deviation and Quartile co-efficient

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Mean deviation with mean, Co-efficient of mean deviation

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Standard deviation with co-efficient of Variance

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Skewness

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Kurtosis

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Co-Relation:

Karl Pearson & Rank co-relation

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Linear Regression:

Least Square Method

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Unit 3 Time Series and Index Number {Book}

Time Series:

Least Square Method

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Moving average Method

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Determination of Season

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Index Number:

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Unweighted, Weighted Aggregate Method: Simple, Weighted average of Price Relatives

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Chain based index Numbers

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Base Shifting, Splicing and Deflating

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Cost of Living Index Number

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Unit 4 Probability and Decision Theory {Book}

Probability

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Types

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Concept of Sample space, Event

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Addition and Multiplication laws of Probability

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Conditional Probability

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Baye’s Theorem

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Expectation & Variance

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Concept of Probability distribution

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Decision Theory: Acts, State of Nature event

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Pay offs, opportunity loss

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Decision making under certainty, uncertainty, Risk

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Non-Probability:

Maximax, Maximin, Minimax, Regret, Laplace & Hurwicz

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Probabilistic (Decision making under risk): EMV, EOL, EVPI

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Decision Tree

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