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Business Statistics Syllabus

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SEMESTER-IV

B.Com (Hons.)

Discipline Specific Core Course- 4.1(DSC-4.1): Business Statistics

CREDIT DISTRIBUTION, ELIGIBILITY AND PRE-REQUISITES OF THE COURSE

Practical/
Practice
DSC -4. 4 1 Pass in
Business Class XII
Statistics with
Mathem
atics/Acc
ountancy
Learning Objectives

The course aims to develop amongst the learners the ability to summarise, analyse and interpret
quantitative information for business decision making.

Learning outcomes

After completion of the course, learners will be able to:

1. Examine and understand the various descriptive properties of statistical data.


2. Evaluate probability rules and concepts relating to discrete and continuous random
variables to answer questions within a business context.
3. Analyse the underlying relationships between the variables to use simple regression
models.
4. Analyse the trends and tendencies over a period of time through time series analysis.
5. Examine and apply index numbers to real life situations.

SYLLABUS OF DSC-4.1

Unit 1: Descriptive Statistics (9 hours)

Measures of Central Tendency: Concept and properties of averages including Arithmetic mean,
Median and Mode.

Measures of Dispersion: An overview of Range, Quartile Deviation and Mean Deviation;

Standard deviation; Variance and Coefficient of variation.

Moments: Computation and significance; Skewness; Kurtosis.


Unit 2:Probability and Probability Distributions (14 hours)

Theory and approaches to probability; Probability Theorems: Addition and Multiplication;

Conditional probability and Bayes’ Theorem.

Expectation and variance of a random variable.


Discrete Probability distributions: Binomial and Poisson (Properties and Applications).

Normal distribution: Properties of Normal curve; Computation of Probabilities and Applications.

Unit 3: Simple Correlation and Regression Analysis (11 hours)

Correlation Analysis: Meaning and types of Correlation; Correlation Vs Causation; Pearson’s


coefficient of correlation (computation and properties); Probable and standard errors; Rank
correlation.

Regression Analysis: Principle of least squares and regression lines; Regression equations and
estimation; Properties of regression coefficients; Relationship between Correlation and Regression
coefficients; Standard Error of Estimate.

Unit 4: Time Series Analysis (7 hours)

Time Series Data; Components of time series; Additive and Multiplicative models.

Trend analysis; Fitting of trend using principle of least squares — linear and second-degree
parabola.

Shifting of Origin and Conversion of annual linear trend equation to quarterly/monthly basis and
vice-versa.

Unit 5: Index Numbers (4 hours)

Meaning and uses of index numbers.

Construction of Index numbers: Methods of Laspeyres, Paasche and Fisher’s Ideal index.
Construction and Utility of Consumer Price Indices; BSE SENSEX, and NSE NIFTY.

Practical Exercises:
The learners are required to:

1. Observe and apply the concepts learned in real life situations.


2. Practice basic calculations in statistics using spreadsheets/ statistical packages/ open source
ware such as R/ Python and try to use it for solving subject related assignments.
3. Do small primary research/survey in groups and analyse the data using statistical tools
discussed in the class (Examples: Buying Behaviour, Motivation, Stress, Brand aspects, Sales
Projections, Impact of advertisements etc).

4. Plan a Project work


5. Studying stock market movements

Suggested Readings:

Anderson, D. R. (2019). Statistics for learners of Economics and Business. Boston, United
States: Cengage Learning.
Douglas A. Lind, Robert D. Mason, William G. Marchal. (2022). Basic Statistics for
Business and Economics. New York, United States: Mc-Graw-Hill International editions.
Gupta, S. C., & Gupta, L. (2018). Business Statistics. Mumbai, India: Himalaya Publishing
House.
Gupta, S. P., & Gupta, A. (2018). Business Statistics: Statistical Methods. Delhi, India: S.
Chand Publishing.
Hazarika, P. A. (2012). Textbook of Business Statistics. Delhi, India: S. Chand
Publishing.
Levine, D. M., Krehbiel, C., & Berenson, L. (2009). Viswanathan. Business Statistics —
A First Course. India: Pearson Education.
Levin, R., Rubin, D. S., Rastogi S., & Siddqui, M. H. (2017). Statistics
for
Management. London, United Kingdon: Pearson Education.
Berenson, M., Baruch, B.M., Levine, D., Szabat, K., & Stephen, D. (2020). Basic Business
Statistics. Australia: Pearson.
Murray, R.S., Stephens, L.J. (2017). Statistics. Uttar Pradesh, India:Tata McGraw Hill
edition.
Siegel, O. F. (2016). Practical Business Statistics. Cambridge, United States: Academic
Press.
Thukral, J. K. (2021). Business Statistics. Delhi, India: Taxman Publication.
Tulsian, P.C., & Jhunjhunwala, B. (2020). Business statistics. Mumbai, India: S. Chand
publishing.
Vohra, N. D. (2017). Business Statistics. Delhi, India: McGraw-Hill Education India.

Note: Suggested readings will be updated by the Department of Commerce and uploaded on
the Department's website.

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