About the Book

This book provides a detailed syllabus for a course on Business Statistics, organized into five units. First part introduces the field of statistics, covering the meaning, definition, importance, and limitations of statistics. It also delves into the collection of data, including sampling methods (random, non-random, census), schedule, questionnaire, frequency distribution, tabulation, and diagrammatic and graphic presentation of data using computer tools like Excel.
It focuses on measures of central tendency, discussing the definition, objectives, and characteristics of measures of central tendency, types of averages (arithmetic mean, geometric mean, harmonic mean, median, mode, deciles, percentiles), properties of averages, and their applications. It also includes the calculation of averages using computers.
It covers measures of dispersion and skewness, exploring the meaning, definition, properties of dispersion, skewness definition, Karl Pearson’s and Bowley’s measures of skewness, normal distribution, and the calculation of dispersion and skewness using computers.
Furthermore, it addresses measures of relation, explains the meaning, definition, and uses of correlation, types of correlation (Karl Pearson’s correlation coefficient, Spearman’s Rank correlation, probable error), and the calculation of correlation using computers and discusses the meaning and utility of regression analysis, comparison between correlation and regression, regression equation, interpretation of regression coefficient, and the calculation of regression using computers.
Lastly, it delves into the analysis of time series of index numbers and covers the meaning and utility of time series analysis, components of time series, measurement of trend and seasonal variations, utility of decomposition of time series, de-centralization of data, and the calculation of trend and seasonal variations using computers. It focuses on the meaning, definition, and importance of index numbers, methods of construction of index numbers (price index numbers, quantity index numbers), tests of adequacy of index numbers, deflating index numbers, cost of index numbers, invitation of index numbers, and the calculation of index numbers using computers.
In summary, the syllabus provides a comprehensive overview of Business Statistics, ranging from the fundamental principles of statistics to advanced topics such as measures of central tendency, dispersion, skewness, correlation, regression analysis, and analysis of time series and index numbers. The inclusion of practical applications using computer tools emphasizes the practical relevance of the course in real-world business scenarios.

About the Author 

Dr. K. Naga Vihari, M.Sc., B.Ed., M.Phil., Ph.D.
Statistics Faculty,
Dept. of Statistics,
S.V.University,
Tirupati.

Dr.G.Siva, M.Sc., Ph.D.
Assistant Professor,
VIT – AP University,
Amaravati(AP)

Dr.VishaliBatyala,
M.Sc., Ph.D.
Assistant Professor on contract
Department of Applied Mathematics,
SriPadmavatiMahilaVisvavidyalayam,
Tirupati.

Dr.G.Latha,
MBA., Ph.D.
Assistant Professor on contract
Department of Business Management,
SriPadmavatiMahilaVisvavidyalayam,
Tirupati.

Dr. N.Ramachandra, M.Sc., M.Phil., Ph.D.
Senior Auditor,
State Audit Department,TTD,
Tirupati(AP)