Business Statistics and Statistics

Introduction to Business Statistics & Statistics – Table of contents

♦ Introduction of Business Statistics and Statistics

• Meaning of Statistics
• Definition of Statistics
• Purpose of Statistics
• Objectives of Statistics
• Characteristics of Statistics
• Functions of Statistics
• Scope and Importance and Applications of Statistics
  • Statistics and State
  • Statistics and Business
  • Statistics and Economics
  • Statistics and Physical Sciences
  • Statistics and Natural Sciences
  • Statistics and Research
  • Statistics and Planning
  • Statistics and Industry
  • Statistics and Mathematics
  • Statistics and Medical Science
  • Statistics and Psychology & Education
• Applications of Statistics in Business and Management
• Limitations of Statistics
• Misuse of Statistics
• Distrust of Statistics & Remedies to Remove Distrust
• Nature of Statistics: State whether the Statistics is a Science or Art?

♦ Data Collection

• Data & Statistical Data
• Types of Data
  • Qualitative Data
    • Nominal Data
    • Ordinal Data
  • Quantitative Data
    • Discrete Data
    • Continuous Data
      • Interval Scale
      • Ratio scale
• Collection of Data
• Sources and Methods of Data Collection
• Primary Data
• Secondary Data
• Internal Data
• Methods / Sources of collection of Primary and Secondary Data
• Difference between Primary and Secondary Data
• Questionnaire:
  • Introduction, Definition & Objective or Purpose
  • Qualities or Characteristics of a Good Questionnaire
  • Points to keep in mind while preparing the Questionnaire
  • Types of questions in a Questionnaire to be avoided
  • Applications / Importance / Uses of Questionnaires
  • Advantages and Disadvantages (Limitations) of Questionnaires

♦ Data: Classification, Tabulation & Graphical Representation

Classification of Data

• Classification of Data: Introduction, Definition, Meaning, Cross-Classification
• Objectives / Purpose of Classification of Data
• Functions of Classification of Data
• Steps to an Effective and Successful Data Classification
• Types of Classification
• Principle of Data Classification
• Guidelines for Data Classification
• Uses of Classification of Data

Tabulation of Data

• Tabulation of Data
• Types of Tables
• Uses of Tabulation of Data

Difference between Classification and Tabulation

Graphical Representation of Data

• Frequency Distribution
• Graphs of Frequency Distributions
• Histogram
• Frequency Polygon
• Smoothed Frequency Curves
• Ogives or Cumulative Frequency Curves

♦ Statistical Series

• Individual Series
• Discrete series
• Continuous series
  • Exclusive Series
  • Inclusive Series
  • Open End Series
  • Cumulative Series

♦ Measures of Central Tendency

♦ Measures of Variations

• Variance
• Variable
• Random Variable
• Covariance
• Methods of Computing Variation
• Standard Deviation (SD)

♦ Correlation & Regression Analysis

• Correlation
• Significance of the study of Correlation / Utility of Correlation
• Difference between Correlation and Causation
• Types of Correlation

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