Business Statistics

Contents: Preface. 1. Introduction of statistics. 2. Measures of central tendency. 3. Measure of dispersion. 4. Correlation. 5. Regression analysis. 6. Multiple regression analysis. 7. Index numbers. Index.

"Statistics and statistics of every countable phenomenon, everywhere pervade and run through the entire gamut of trade, commerce and industry. But for statistics of every measurable kind, the realm of business would have lost the gains that really count. Statistics provide the businessman a becon light to profit and progress. A businessman with a sound statistical knowledge--of his entire business--may do well to flourish, without it may perish.

Now a days many business concern maintains its own department of statistics, for evaluating its business policies based on profits, sales, consumer preferences, manufacturing costs, quality of products, productivity and consumers goodwill. Economic planning without accurate and reliable statistics is unthinkable. Statistical charts, graphs and diagrams pertaining to quantitative data, are visual aids and immediately appeal to the eye and render business figures and facts, more significant and easily intelligible. Success in trade and commerce at present, is largely determined by correct estimates and probabilities and favourable forecasts based on statistics collected systematically, presented accurately and interpreted wisely. Whether a person is a banker, an investor, a manufacturer or a stock exchange broker, he would be benefited immensely; if he possesses statistical knowledge relating to monetary savings, rates of interest, diverse investment markets, costs of different raw materials and their markets, stocks and shares markets etc." (jacket)