BCOM GE 201-18

Business Statistics
Unit-1(Introduction to Statistics)
LESSON 1

Vivek Sharma
 Unit-1( Introduction to Statistics) Vivek Sharma

L1- LESSON 1

Unit-1
Learning Objectives
L1 –Meaning, Definitions, Features of statistics, 1.Origin of Statistic
Functions, 2.Definition of Statistics
L2-Importance ,Limitations of Statistics. 3. Characteristics/Features
of Statistic
L3-Sources of Primary and Secondary data.
4. Scope of Statistic
L4- Presentation of Data and Frequency distribution.
L5 – Meaning of Population and Sample, Parameter and
Statistics
L6- Probability and Non Probability Sampling Methods
 Vivek Sharma
Unit-1( Introduction to Statistics)

L1- LESSON 1
Origin
 Unit-1( Introduction to Statistics) Vivek Sharma

L1- LESSON 1

Definition by Croxton & Cowden

“ Statistics may be defined as the science of

collection, presentation, analysis and
interpretation of numerical data from the logical Statistics
analysis”  Collection of Data

 Presentation of Data

 Analysis of Data

 Interpretation of Data
 Unit-1( Introduction to Statistics) Vivek Sharma

L1- LESSON 1

Features of Statistics
 Unit-1( Introduction to Statistics) Vivek Sharma

L1- LESSON 1

Features of Statistics
 Unit-1( Introduction to Statistics) Vivek Sharma

L1- LESSON 1
 Unit-1( Introduction to Statistics) Vivek Sharma

L1- LESSON 1
 Unit-1( Introduction to Statistics) Vivek Sharma

L1- LESSON 1

Example:
In case of Salt or Iron we can
use weight in Kg but in case
of Gold we deal with grams
 Unit-1( Introduction to Statistics) Vivek Sharma

L1- LESSON 1
 Unit-1( Introduction to Statistics) Vivek Sharma

L1 LESSON -1
 Vivek Sharma

Unit-1( Introduction to Statistics)

L1- LESSON 1
 Unit-1( Introduction to Statistics) Vivek Sharma

Scope of Statistics

1.Business:

Business relies on statistical

information for taking various
decisions such as pricing,
marketing, financial resources, etc.
 Unit-1( Introduction to Statistics) Vivek Sharma

Scope of Statistics
Scope of Statistics

2.Economics:

It almost all branches of

economics like production,
consumption, distribution, etc.
 Unit-1( Introduction to Statistics) Vivek Sharma

Scope of Statistics
Scope of Statistics

3.Banking:
Banks depend upon statistical
tools for deciding the appropriate
proportion of lending amount out
of the deposits held by them.
 Unit-1( Introduction to Statistics) Vivek Sharma

Scope of Statistics

4.Audit:
Statistics are used by auditors for
selecting the sample size for
checking out errors.
 Unit-1( Introduction to Statistics) Vivek Sharma

Scope of Statistics

5.Accounting:
In accounting, it is used for taking
various decisions on the basis of
approximation.
 Unit-1( Introduction to Statistics) Vivek Sharma

Scope of Statistics

6.Administration:
The government while preparing
budgets uses statistics for
estimating its expenditure and
revenue from different sources.
 Unit-1( Introduction to Statistics) Vivek Sharma

Scope of Statistics

7. Astronomy:
Statistical methods are used for
making the most probable
measurements while doing
different calculations between
heavenly bodies.
 Unit-1( Introduction to Statistics) Vivek Sharma

Scope of Statistics

8. Research
Researchers use statistics for
evaluating problems under distinct
conditions.