Business Statistics– Revised FYBMS Syllabus 2016

Modules at a Glance

Sr. No. Modules No. of Lectures
1 Introduction to Statistics 15
2 Measures of Dispersion, Co-Relation and Linear Regression 15
3 Time Series and Index Number 15
4 Probability andDecision Theory 15
Total 60

Business Statistics – FYBMS Syllabus 2016

Sr. No. Modules / Units
1 Introduction to Statistics
  • Introduction: Functions/Scope, Importance, Limitations
  • Data: Relevance of Data(Current Scenario), Type of data(Primary & Secondary), Primary(Census vs Samples, Method of Collection (In Brief), Secondary(Merits, Limitations, Sources) (In Brief)
  • Presentation Of Data:Classification – Frequency Distribution – Discrete & Continuous, Tabulation, Graph(Frequency, Bar Diagram, Pie Chart, Histogram, Ogives)
  • Measures Of Central Tendency:Mean(A.M, Weighted, Combined), Median(Calculation and graphical using Ogives), Mode(Calculation and Graphical using Histogram), Comparative analysis of all measures of Central Tendency
2 Measures of Dispersion, Co-Relation and Linear Regression
  • Measures Of Dispersion: Range with C.R(Co-Efficient Of Range), Quartiles & Quartile deviation with CQ (Co-Efficient Of Quartile), Mean Deviation from mean with CMD (Co-Efficient Of Mean Deviation), Standard deviation with CV(Co-Efficient Of Variance), Skewness& Kurtosis (Only concept)
  • Co-Relation: Karl Pearson, Rank Co-Relation
  • Linear Regression: Least Square Method
3 Time Series and Index Number
    • Time Series: Least Square Method, Moving Average Method, Determination of Season
  • Index Number: Simple(unweighted) Aggregate Method, Weighted Aggregate Method, Simple Average of Price Relatives, Weighted Average of Price Relatives, Chain Base Index Numbers, Base Shifting, Splicing and Deflating, Cost of Living Index Number
4 Probability and Decision Theory
  • Probability: Concept of Sample space, Concept of Event, Definition of Probability, Addition & Multiplication laws of Probability, Conditional Probability, Bayes’ Theorem(Concept only), Expectation & Variance, Concept of Probability Distribution(Only Concept)
  • Decision Theory: Acts, State of Nature Events, Pay offs, Opportunity loss, Decision Making under Certainty, Decision Making under Uncertainty,
  • Non-Probability: Maximax, Maximin, Minimax, Regret, Laplace &Hurwicz)
  • Probabilitistics (Decision Making under risk):EMV, EOL, EVPI
  • Decision Tree


Reference books for Business Statistics subject
  • Statistics of Management , Richard Levin &David S. Rubin,Printice Hall of India , New Delhi.
  • Statistics for Business & Economics, David R Anderson, Dennis J Sweney, Thopmson Publication.
  • Fundamental of Statistics, S C Gupta, Himalya Publication House.
  • Business Statistics , Bharadwaj , Excel Books, Delhi
  • Business Mathematics, S.K Singh & J.K Singh, Brijwasi Book Distributor & Publisher.
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