Descriptive Statistics
Measures of Central Tendency (Arithmetic Mean, Median, Mode)
Measures of Dispersion (Range, Quartile Deviation, Mean Deviation, Standard Deviation, Variance, Coefficient of Variation)
Moments, Skewness, and Kurtosis
Probability & Probability Distributions
Fundamental Probability Theorems (Addition, Multiplication, Conditional Probability, Bayes' Theorem)
Discrete Distributions: Binomial and Poisson (Properties & Applications)
Normal Distribution (Properties, Computing Probabilities & Applications)
Correlation and Regression Analysis
Correlation Concept and Computation (Pearson's Coefficient, Rank Correlation, Probable Errors)
Regression Lines, Regression Equations, Properties of Coefficients, Standard Error of Estimate
Time Series Analysis
Components of Time Series: Additive and Multiplicative Models
Trend Fitting (Least Squares Method for Linear & Second-Degree Parabola)
Shifting Origin, Converting Annual Equations to Quarterly/Monthly Basis
Index Numbers
Construction & Uses (Laspeyres, Paasche, Fisher's Ideal Index)
Consumer Price Indices, BSE SENSEX, NSE NIFTY
Practical Exercises & Projects
Practical application via group research/surveys, data collection, and statistical analysis
Detailed guidance on spreadsheet-based problem-solving using Excel or open-source tools such as R/Python
The structure of the book is as follows:
Chapter Organisation
Begins with a clear outline and learning objectives
Progresses systematically from foundational concepts to advanced topics
Includes logical sequencing to match typical undergraduate coursework coverage and timelines
Pedagogical Tools
Step-by-step solutions and illustrative examples
Chapter-end practice sets for testing and reinforcing understanding
Quick-reference formula summaries and essential concept recaps
Additional Spreadsheet/Software Section
Dedicated coverage on spreadsheet-based (Excel) or open-source software (R, Python) exercises
Helps translate theoretical knowledge into practical data analytics skills

Business Statistics is a comprehensive, authentic, and well-illustrated textbook designed to introduce undergraduate students to core statistical concepts and applications. Recognising the essential role of statistics in today's data-driven environment, the book equips learners with the methods needed for data analysis, interpretation, and informed decision-making. The presentation strikes a balance between theoretical rigour and practical application, ensuring students can confidently apply statistical tools to practical business and economic scenarios.

English