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