Business Statistics

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Business Statistics

ISBN 9789393161703

Publication Date Sat Jul 01 00:00:00 UTC 2006

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Table of contents

Biographical note

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This book, Business Statistics caters to undergraduate students of commerce and management for the paper by the same name. It covers all the essential topics on the subject and is aimed at providing students with a sound knowledge in the fundamentals of the subject.

Cover
Title Page
Copyright Page
Contents
Preface
Chapter 1 Introduction
- Definitions of Statistics
  - Statistics as Numerical Data
- Statistics as Numerical Methods
  - Statistics—Science or Art
  - Functions of Statistics
- Scope of Statistics
  - Statistics and Economics
  - Statistics and Business
  - Statistics and Industry
  - Statistics and Natural Science
  - Statistics and Physical Sciences
  - Statistics and State
- Limitations of Statistics
- Distrust of Statistics
Chapter 2 Collection, Classification and Tabulation
- Collection of Data
  - Methods of Collecting Primary Data
  - Essentials of a Good Questionnaire
  - Sources of Secondary Data
  - Precautions in the Use of Secondary Data
  - Differences Between Primary and Secondary Data
- Classification
  - Objectives of Classification
  - Characteristics of a Good Classification
  - Types of Classifications
- Frequency Distribution
  - Formation of Discrete Frequency Distribution
  - Formation of Continuous Frequency Distribution
- Tabulation
  - Objectives of Tabulation
  - Components of a Good Table
  - Rules Regarding the Construction of a Table
  - Differences Between Classification and Tabulation
- Worked Examples
- Exercise
Chapter 3 Diagrammatic and Graphical Representation
- Types of Diagrams
  - One-dimensional or Bar Diagrams
  - Two-dimensional Diagrams
  - Three-dimensional Diagrams
- Graphical Representation of Frequency Distributions
  - Histogram
  - Frequency Polygon
  - Frequency Curve
  - Cumulative Frequency Curve or Ogives
  - Lorenz Curve
- Worked Examples
- Exercise
Chapter 4 Measures of Central Tendency
- Properties of a Good Average
- Measures of Central Tendency or Averages
  - Arithmetic Mean (A.M.)
- Worked Examples
  - Median
- Worked Examples
  - Mode
- Merits and Demerits of Various Measures of Central Tendency
  - Mean
  - Median
  - Mode
  - Geometric Mean (G.M.)
  - Harmonic Mean (H.M.)
- Worked Examples
  - Geometric Mean
- Worked Examples
  - Harmonic Mean
- Worked Examples
- Exercise
- Answers
Chapter 5 Measures of Variation
- Properties of a Good Measure of Variation
- Absolute and Relative Measure of Dispersion
- Methods of Studying Variation
  - Range
- Worked Examples
  - Quartile Deviation (Q.D.)
- Worked Examples
  - Mean Deviation (M.D.)
- Worked Examples
  - Standard Deviation (S.D.)
- Merits and Limitations of Measures of Variation
- Worked Examples
- Exercise
- Answers
Chapter 6 Measures of Skewness and Kurtosis
- Important Measures of Skewness
  - Karl Pearson’s Coefficient of Skewness
  - Bowley’s Coefficient of Skewness
- Worked Examples
- Exercise
- Answers
- Moments
  - Skewness
  - Kurtosis
- Worked Examples
- Exercise
- Answers
Chapter 7 Correlation
- Introduction
- Correlation and Causation
  - Types of Correlation
  - Properties of Correlation Coefficient
  - Methods of Studying Correlation
  - Uses of Correlation
- Worked Examples
- Exercise
- Answers
- Spearman’s Rank Correlation Method
  - Repeated Ranks
- Worked Examples
- Exercise
- Answers
Chapter 8 Regression
- Introduction
- Regression Lines and Regression Equations
  - Regression Equation of Y on X
  - Regression Equation of X on Y
  - Properties of Regression Coefficients
  - Uses of Regression
  - Differences Between Correlation and Regression
- Worked Examples
- Exercise
- Answers
Chapter 9 Time Series
- Introduction
  - Definitions
  - Utility of Time Series Analysis
- Components of Time Series
  - Secular Trend
  - Seasonal Variations
  - Cyclical Variations
  - Irregular or Erratic Variations
- Measurement of Trend
  - Freehand or Graphic Method
  - Method of Semi-averages
  - Moving Averages Method
  - Method of Least Squares
- Measurement of Seasonal Variations
  - Method of Simple Averages
  - Ratio-to-trend Method
  - Moving Averages Method
  - Link Relative Method
- Adjustment of Chain Relatives
  - Computation of Seasonal Indices
- Worked Examples
- Exercise
- Answers
Chapter 10 Index Numbers
- Introduction
- Important Definitions of Index Numbers
- Characteristics of Index Numbers
- Uses of Index Numbers
- Types of Index Numbers
  - Price Index
  - Quantity Index
  - Value Index
- Problems in the Construction of Index Numbers
  - Notations
- Methods of Constructing Index Numbers
  - Unweighted Index Numbers
- Worked Example
  - Simple Average of Price Relative method
- Worked Example
  - Merits
  - Limitations
  - Weighted Index Numbers
- Worked Example
- Worked Example
- Quantity or Volume Index Numbers
- Worked Example
- Value Index Numbers
- Tests of Adequacy of Index Number Formulae
  - Unit Test
  - Time Reversal Test
  - Factor Reversal Test
  - Circular Test
- Worked Example
- The Chain Index Numbers
  - Steps in Constructing a Chain Index
- Worked Example
  - Conversion of Chain Index to Fixed Base Index
- Worked Example
  - Merits of the Chain Base Method
  - Limitations of the Chain Index
  - Base Shifting
- Worked Example
  - Splicing
  - Use of Index Numbers in Deflating
- Worked Example
- Consumer Price Index Numbers
  - Utility of the Consumer Price Indices
  - Method of Constructing the Index
- Worked Example
  - Index Number of Industrial Production
- Worked Examples
- Exercise
- Answers
Chapter 11 Probability Theory
- Basic Terminologies
- Classical Definition of Probability
- Statistical Definition of Probability
- Discrete Probability Distribution
- Continuous Probability Distribution
- Mathematical Expectation
- Conditional Probability
- Addition Theorem on Probability
- Multiplication Theorem on Probability
- Baye’s Theorem
- Worked Examples
- Exercise
- Answers
Chapter 12 Sampling Theory
- Introduction
- Sampling With and Without Replacement
- Population Parameters
- Sample Statistic
- Theoretical Basis of Sampling
  - Law of Statistical Regularity
  - Law of Inertia of Large Numbers
- Essentials of Sampling
- Methods of Sampling
- Random Sampling Methods
- Simple or Unrestricted Random Sampling
  - Restricted Random Sampling
- Nonrandom Sampling Methods
  - Judgement Sampling
  - Convenience Sampling
  - Quota Sampling
- Size of Sample
- Merits and Limitations of Sampling
  - Merits of Sampling Technique
- Limitations of Sampling Technique
- Sampling Errors
  - Biased Errors
  - Unbiased Errors
- Nonsampling Errors
- Exercise
Chapter 13 Test of Hypotheses and Significance
- Statistical Decisions
- Statistical Hypotheses
- Test of Significance
  - Level of Significance
  - Standard Error
- Test of Significance Involving Normal Distribution
  - One-tailed and Two-tailed Tests
- Tests of Significance for Large Samples
  - Procedure for Testing of Hypothesis
  - Test for Single Proportion
- Worked Examples
  - Test of Proportion of Successes
- Worked Examples
  - Test of Significance of Difference of Proportions
- Worked Examples
- Test for Single Mean
- Fiducial Limit of Population Mean
- Worked Examples
- Test for Difference of Means
- Worked Examples
- Test of Significance for Small Samples
  - Student’s Distribution
  - Properties
  - Application
- Worked Examples
- Worked Examples
- Worked Examples
- Test of Significance of an Observed Correlation Coefficient
- Worked Examples
- The F-Test (Variance - Ratio Test)
- Worked Examples
- χ2 Tests
  - χ2- Test of Independence of Attributes
- Worked Examples
- χ2- Test for Goodness of Fit
- Worked Examples
- Exercise
- Answers
Chapter 14 Interpolation and Extrapolation
- Interpolation
- Numerical Methods
  - Interpolation
  - Newton’s Forward Interpolation Formula
- Worked Examples
  - Backward Differences
  - Newton’s Backward Interpolation Formula
- Worked Examples
- Missing Terms (Equal Intervals)
- Worked Examples
- Exercise
- Answers
- Lagrange Method of Interpolation Problems and Solutions
- Exercise
- Extrapolation
  - Conic Extrapolation
  - French Curve Extrapolation
  - Linear Extrapolation
  - Procedure for Linear Extrapolation Formula
  - Polynomial Extrapolation
- Exercise
Chapter 15 Statistical Quality Control
- Statistical Quality Control
- Statistical Process Control
- Statistical Quality Control - Control Charts
  - Chart: Process Mean and Standard Deviation Known
  - Chart: Process Mean and Standard Deviation Unknown
  - Over All Sample Mean
  - Average Range
  - R-Chart
  - P-Chart
  - np-Chat
  - The Control Limits for np Chart
  - Interpretation of Control Charts
- Acceptance Sampling
- Acceptance Sampling Procedure
- The Outcomes of Acceptance Sampling
  - Symbols Used in Acceptance Sampling
  - X-Bar Control Chat
  - p-Control Chat
- Exercise
Index

Joseph Anbarasu is Associate Professor and Head, Department of Commerce, Bishop Heber College, Tiruchirappalli.

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