STUDY TO ENLIGHTEN YOURSELF
BUSINESS STATISTICS NOTES BCOM 1ST YEAR: Meaning and definition of statistics, scope of statistics, importance of statistics in business and trade, limitations and distrust of statistics, advantages of statistics. statistics in plural and singular sense. QUESTION: Define Statistics. Discuss the scope of statistics in business. Statistics are numerical statement of facts capable of analysis and…
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…
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…
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…
In this post you will study scope of managerial economics. Study and make the proper notes grabbing full understanding of this topic. SCOPE OF MANAGERIAL ECONOMICS Scope of a discipline refers to the various concepts, laws and theories which are studied in that subject. The scope of managerial economics includes various concepts, laws, theories and…
