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Category: BUSINESS STATISTICS

REGRESSION ANALYSIS: TYPES, PROPERTIES, IMPORTANCE AND LIMITATIONS

Posted on August 9, 2022 By commerceiets No Comments on REGRESSION ANALYSIS: TYPES, PROPERTIES, IMPORTANCE AND LIMITATIONS
REGRESSION ANALYSIS: TYPES, PROPERTIES, IMPORTANCE AND LIMITATIONS

REGRESSION ANALYSIS: MEANING The statistical technique of estimating or predicting the unknown value of a dependent variable from the known value of an independent variable is called regression analysis. Sir Francis Galton introduced the concept of regression for the first time in 1877 where he studied the case of one thousand fathers and sons and…

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BUSINESS STATISTICS

IMPORTANCE OF CORRELATION

Posted on August 7, 2022 By commerceiets No Comments on IMPORTANCE OF CORRELATION
IMPORTANCE OF CORRELATION

Importance of correlation is as follows: CORRELATION Correlation is a statistical technique which shows the degree and direction of relationship between the two variables. It ranges between -1 to +1.  According to AM Tuttle “Correlation is the analysis of co-variation between two or more variables.” According to Croxton and Cowden “When the relationship is of…

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BUSINESS STATISTICS

CORRELATION NOTES PDF – TYPES, DEGREES & METHODS

Posted on August 7, 2022 By commerceiets No Comments on CORRELATION NOTES PDF – TYPES, DEGREES & METHODS
CORRELATION NOTES PDF – TYPES, DEGREES & METHODS

CORRELATION NOTES PDF: Correlation, Correlation and Causation, Types of Correlation, Significance of Correlation, Methods of Correlation etc. CORRELATION Correlation is a statistical technique which shows the degree and direction of relationship between the two variables. It ranges between -1 to +1.  According to AM Tuttle “Correlation is the analysis of co-variation between two or more…

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BUSINESS STATISTICS

MEASURES OF DISPERSION IN STATISTICS FREE NOTES

Posted on August 5, 2022 By commerceiets No Comments on MEASURES OF DISPERSION IN STATISTICS FREE NOTES
MEASURES OF DISPERSION IN STATISTICS FREE NOTES

MEASURES OF DISPERSION IN STATISTICS : Dispersion, meaning and definition; Importance; Relative and absolute measures of dispersion. DISPERSION Dispersion indicates the measure of the extent to which individual items differ. It indicates lack of uniformity in the size of items. ACCORDING TO BROOK AND DICKS “Dispersion is the degree of the variation of the variable…

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BUSINESS STATISTICS

DISTRUST OF STATISTICS

Posted on October 9, 2019 By commerceiets No Comments on DISTRUST OF STATISTICS
DISTRUST OF STATISTICS

DISTRUST OF STATISTICS Distrust of statistics means lack of confidence in the statistical methods and statements. As statistics suffers from various limitations, that is the reason statistics become a thing of distrust. ACCORDING TO YULE AND KENDALL “Statistical methods are most dangerous tools in the hands of an inexpert.” The following are the points that…

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BUSINESS STATISTICS

LIMITATIONS OF STATISTICS

Posted on October 2, 2019 By commerceiets No Comments on LIMITATIONS OF STATISTICS
LIMITATIONS OF STATISTICS

LIMITATIONS OF STATISTICS Undoubtedly, statistics has universal applicability, but there are also some facts which prove as limitations of statistics.   ACCORDING TO NEWSHOLME “Statistics must be regarded as an instrument of research of great value but having severe limitations which are not possible to overcome and as such need our careful attention.” The limitations…

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BUSINESS STATISTICS

SCOPE OF STATISTICS

Posted on September 20, 2019 By commerceiets No Comments on SCOPE OF STATISTICS
SCOPE OF STATISTICS

SCOPE OF STATISTICS Statistics are numerical statement of facts capable of analysis and interpretation as well as study of the methods used in collection, organization, presentation, analysis and interpretation of numerical data. It is often said that “Statisticians is what Statisticians do”. This explains the scope of statistics as very wide and extends extensively to…

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BUSINESS STATISTICS

FUNCTIONS OF STATISTICS

Posted on September 19, 2019 By commerceiets No Comments on FUNCTIONS OF STATISTICS
FUNCTIONS OF STATISTICS

FUNCTIONS OF STATISTICS Statistics are numerical statement of facts capable of analysis and interpretation as well as study of the methods used in collection, organization, presentation, analysis and interpretation of numerical data. ACCORDING TO ROBERT W BURGESS “The fundamental gospel of statistics is to push back the domain of ignorance, prejudice, rule of thumb, arbitrary…

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BUSINESS STATISTICS

STATISTICS IN ECONOMICS

Posted on September 18, 2019 By commerceiets No Comments on STATISTICS IN ECONOMICS
STATISTICS IN ECONOMICS

STATISTICS IN ECONOMICS Statistics are numerical statement of facts capable of analysis and interpretation as well as study of the methods used in collection, organization, presentation, analysis and interpretation of numerical data. Statistics word has been derived from Latin word ‘Status’ Italian word ‘Statista’ German word ‘Statistik’ French word ‘Statistique’. GOTT FREID ACHENWALL is known…

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BUSINESS STATISTICS

MODE

Posted on July 25, 2019 By commerceiets 2 Comments on MODE
MODE

MEANING Mode is a positional measure of central tendency.  It is that value which occurs most frequently in any distribution. That means the items which are repeated a maximum time in the given distribution is known as mode. It is generally denoted by ‘Z’. ACCORDING TO CROXTON AND COWDEN “The mode of a distribution is…

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BUSINESS STATISTICS

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