introduction to business statistics

Today graphics, tables, reasoning, estimation and prediction are playing a very important role in stating the facts in terms of figures. Statistics deals mainly in communicating facts and figures in terms of a method called statistical method. Collection, classificat..

Statistics is about collection of information and its presentation and about drawing inferences from these. We come across facts and figures in the newspapers, Television and the radio. The numerical figures are called "the data". If we have to draw good inferences from information ..

The scientific methods of collection of data, its classification and application to commerce and everyday life is called statistics. A list of some important terms as follows: (i) ungrouped data (ii) tabulation of data (iii) range (iv) frequency (v) frequency distribution (vi) tally..

Facts and figures as such do not catch our attention unless they are presented in an interesting way. Graphical representation of data is one of the most commonly used modes of presentation. The different types of graphs that we are going to study are 1. Bar graphs 2. Pie charts 3. Frequency ..

The mathematical models which tells to optimise (minimize or maximise) the objective function Z subject to certain condition on the variables is called a Linear programming problem (LPP). During World War II, the military managements in the U.K and the USA engaged a team of scientists ..

When some data is colleted, we have certain numbers which represent the characteristics of the data, around which the data appears to be concentrated, we call such numbers as the measures of central tendency. There are three measures of central tendency. (i) Mean (ii) Median and (iii) Mod..

Arrangement and selection of objects are the central ideas of this chapter on permutations and combinations. They are widely applied in solving problems of probability, genetic engineering and life science..

In our day to day life, we come across many uncertainty of events. We wake up in the morning and check the weather report. The statement could be 'there is 60% chance of rain today'. This statement infers that the chance of rain is more than that having a dry weather. We decide upon our break..

Man has the skill of communication by which he is able to convince others about his point of view. Today graphics, tables, reasoning, estimation and prediction are playing a very important role in stating the facts in terms of figur..

Introduction - In our day to day life, we come across many uncertainty of events. We wake up in the morning and check the weather report. The statement could be 'there is 60% chance of rain today'. This statement infers that the chance of rain is more than that having a dry weather. We de..