About the book

Business Statistics introduces the students to the fundamentals of and various concepts related to statistics that are helpful in making business decisions. Data are the fulcrum of the field of business statistics and this book provides the conceptual clarity for understanding data. The use of data for decision making in business has gained tremendous momentum. In order to make the learning process easy and interesting, many examples are given in the form of fictitious and real-life business anecdotes. At the end of each chapter, various exercises are given to help the students become adept at using data for decision making.  

Numerous examples illustrate the use of software tools like MS Excel, SPSS and RStudio with detailed steps involved. Real-time cases of Indian companies with actual data sourced from their websites have been used for better understanding of the concepts. The aim of this book is to make the learning process as interesting and simple as possible.

Content:

1 Introduction to Statistics

2 Understanding, Organising and Presenting Data

3 Measures of Central Tendency

4 Measures of Dispersion

5 Skewness, Moments and Kurtosis

6 Basic Concepts of Probability

7 Discrete Probability Distribution

8 Continuous Probability Distribution

9 Sampling and Sampling Distribution

10 Estimation and Confidence Intervals

11 Hypothesis Testing

12 Statistical Inference for Single Population using Hypothesis Testing

13 Statistical Inference about Two Populations using Hypothesis Testing

14 Statistical Inference about Variance of Two Populations using F-Distribution

15 Analysis of Variance and Design of Experiments

16 Chi-Square Tests and Other Non-Parametric Tests

17 Correlation and Simple Regression

18 Multiple Regression and Model Building

19 Index Numbers

20 Forecasting and Time Series

21 Statistical Methods for Quality Management

22 Statistical Decision Theory