Statistics for Business Decisions Notes PDF
Date: 27th Jan 2023
In these “Statistics for Business Decisions Notes PDF”, we will various Statistical Data Analysis tools that can be used for effective decision making. Emphasis will be on the application of the concepts learnt to various managerial situations.
We have provided multiple complete Statistics for Business Decisions Notes PDF for any university student of Bachelor of Management Studies (BMS) or Master of Business Administration (MBA) to enhance more knowledge about the subject and to score better marks in the exam. Students can easily make use of all these Statistics for Business Decisions Notes PDF by downloading them.
Topics in our Statistics for Business Decisions Notes PDF
The topics we will cover in these Statistics for Business Decisions Notes PDF will be taken from the following list:
Data: quantitative and qualitative, attributes, variables, Scales of measurement: nominal, ordinal, interval and ratio, Measures of Central Value: Mean, Median and Mode, Measures of Dispersion: Absolute and Relative measures of dispersion – Range, Quartile Deviation, Mean Deviation, Standard Deviation, Coefficient of Variation, Moments, Shape of the distribution: Skewness and Kurtosis, z-score, Chebychev, and empirical rule.
Correlation Analysis: Meaning and significance. Correlation and Causation, Types of correlation, Methods of studying simple correlation – Scatter diagram, Karl Pearson’s coefficient of correlation, Spearman’s Rank correlation coefficient, Regression Analysis: Meaning and significance, Regression vs. Correlation, Simple Regression model: Linear Regression, Conditions for simple linear regression, Standard error of estimate, Tests for the significance of correlation coefficient.Analysis of Time Series: Meaning and significance, Utility, Components of time series, Models (Additive and Multiplicative), Measurement of trend: Method of least squares, Linear and Parabolic trend, Measurement of seasonal variations by method of ratio to trend.
Index Numbers: Meaning and significance, problems in construction of index numbers, Methods of constructing index numbers-weighted and unweighted, Construction of index numbers of prices and quantities, Consumer price index number.
Probability: Meaning and need, Theorems of addition and multiplication, Conditional probability, Bayes’ theorem, Random Variable- discrete and continuous. Probability Distribution: Meaning, characteristics (Expectation and variance) of Binomial, Poisson, exponential and Normal distribution, Central limit theorem.
Estimation of population mean, Confidence intervals for the parameters of a normal distribution (one sample only), Introduction to testing of Hypothesis: Concept; Level of Significance; Process of testing; Type I and Type II error, Test of hypothesis concerning Mean: z test and t test.
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Statistics for Business Decisions Reference Books List
We have listed the best Statistics for Business Decisions Reference Books that can help in your Statistics for Business Decisions exam preparation:
- Keller, G. (2015). Statistics for Management and Economics (10th Edition). New Delhi: Cengage Learning.
- Levin, R. and Rubin, D. (2012). Statistics for Management (7th Edition). New Delhi: Pearson.
- Stine, R. and Foster. (2014). Statistics for Business (Decision making and Analysis) (2 nd Edition). New Delhi: Pearson
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Author: Delhi University