# BUSINESS STATISTICS NOTES – DETAILED

## Here you can get Business Statistics notes and all previous year questions solved. Click on the link of any topic to get the notes.

### THEORY OF PROBABILITY

Definition, Functions, Scope and Limitations of Statistics.
Measures of Central Tendency: Types of averages–Arithmetic Mean (Simple and Weighted),
Median and Mode.

Measures of Dispersion: Range, Quartile Deviation, Mean Deviation, Standard Deviation and
Coefficient of Variation.
Simple Correlation and Regression: Meaning, Types, Karl Pearson’s & Rank Correlation
(Excluding grouped data), Probable error.

Index Numbers: Meaning and importance, Methods of construction of
Index Numbers:
Weighted and unweighted; Simple Aggregative Method, Simple Average of Price Relative
Method,
Weighted index method: Laspeyre’s method, Pascals method and Fishers Ideal method including
Time and Factor Reversal tests, Consumer Price Index.

Time Series Analysis: Components, Estimation of Trends (Graphical method, Average Method,
Semi Moving Averages method and Method of Least Squares for linear path).
Probability: Conceptual meaning and definition of probability, Theorems of probability–
addition and multiplication theorem of probability and concept of conditional probability
(simple applications only).