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The primary objective of this text is to help students to think clearly and critically and apply the knowledge of Business Statistics in decision making when solving business problems.
The book introduces the need for quantitative analysis in business and the basic procedures in problem solving. Following an application-based theory approach, the book focuses on data collection, data presentation, summarizing and describing data, basic probability and statistical inference. A separate chapter is devoted to show how Microsoft Excel can be used to solve problems and to make statistical analyses. It contains specimen Excel Worksheets illustrating how the problems of each chapter are solved using Excel functions and formulas. A large number of real-world business problems from various business professions such as finance, medical, psychology, sociology and education are also included.
This textbook is primarily intended for the undergraduate and postgraduate students of management and postgraduate students of commerce.
The text helps students to:
Understand the meaning and use of statistical terms used in business statistics
Use graphical and descriptive statistics to identify the need for statistical inference techniques
Perform statistical analyses
Interpret the results of statistical analyses
Apply statistical inference techniques in business situations
Use computer spreadsheet software to perform statistical analysis on data
Choose the appropriate statistical tool from the collection of standard analytic methods
Table of Contents:
Preface
Basics of Statistics and Data Collection Techniques
Organising and Presenting Data
Summarising Data: Measures of Central Tendency and Dispersion
Summarising Data: Other Measures
Probability: A Measure of the Uncertainty
Probability Distributions: Discrete Families
Probability Distributions: Continuous Families
Making Inferences and Conclusions-Statistical Inference: Estimation
Statistical Inference : Basics of Testing of Hypothesis, One and Two Sample Tests
Statistical Inference : Chi-square, Analysis of Variance and Other Tests
Statistical Inference : Non-Parametric Tests
Simple Regression and Correlation Analyses
Multiple Regression Analysis
Time Series Analysis and Forecasting
Index Numbers
Statistical Computations and Analysis Using Excel References
Statistical Tables Answers of the Selected Odd Numbered Chapter Exercises IndexISBN - 9788120349858
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