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1.1 Introduction To DTB

IT EXPLAIN INTRODUCTION TO DTB

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22 views20 pages

1.1 Introduction To DTB

IT EXPLAIN INTRODUCTION TO DTB

Uploaded by

jaineti
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPTX, PDF, TXT or read online on Scribd
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Decision Making Techniques for Business

BBA -104
Unit - I

Dr. Eti Jain


Assistant Professor
Management School
e.jain@dme.ac.in
Program Outcomes

PO1: Apply knowledge of various functional areas of business.


PO2: Develop communication and professional presentation skills.
PO3: Demonstrate critical thinking and Analytical skills for business decision making.
PO4: Illustrate leadership abilities to make effective and productive teams
PO5: Explore the implications and understanding of the process of starting a new venture.
PO6: Imbibe responsible citizenship towards a sustainable society and ecological
environment.
PO7: Appreciate inclusivity towards diverse cultures and imbibe universal values.
PO8: Foster Creative thinking to find innovative solutions for various business situations.
Course Objectives and Course Outcomes

1. To develop students Familiarity with the concepts of Operational Research


2. To develop understanding about tools of Statistics like Correlation, Regression,
etc.
3. Application of these techniques to solve commercial problems
4. To do efficient decision making.
Syllabus
Unit Details
S.No. Topic

1.1 Definition, Importance and Limitations of statistics

1.2 Collection of data and formation of frequency distribution of data


Graphic presentation of frequency distribution - Graphs, Bars (Simple, Sub-divided,
1.3
Multiple, Percentage)

1.4 Graphic presentation of frequency distribution - Histogram, Frequency Polygon, Ogives

Measures of Central Tendency - Mean of Individual, Discrete and Continuous series by


1.5
Direct, Assumed Mean and Step Deviation method
Properties of Arithmetic Mean, Weighted Arithmetic Mean, Geometric Mean, Harmonic
1.6
Mean, Correcting incorrect values
Measures of Central Tendency - Median of Individual, Discrete and Continuous series,
1.7
Median of unequal class intervals
Measures of Central Tendency - Mode of Individual, Discrete and Continuous series, Mode of
1.8
unequal class intervals
Unit Details

S.NO. Topic
1.9 Partition Values - Quartiles, Deciles and Percentiles of Individual, Discrete and Continuous
series
1.10 Measures of Variation - Range, Inter Quartile, Inter Percentile, Inter Decile Range, Quartile
Deviation
1.11 Measures of Variation - Mean Deviation of Individual, Discrete and Continuous series

1.12 Measures of Variation - Standard Deviation of Individual, Discrete and Continuous series by
Actual Mean, Assumed Mean and Ste deviation Methods

1.13 Measures of Variation - Variance; Correcting incorrect values of Standard Deviation

1.14 Lorenz Curve


1.1 Definition, Importance & Limitations of Statistics
1.1 Definition, Importance & Limitations of Statistics

• “Statistics”, has been derived from the Latin word ‘Status’ that means a
group of numbers or figures; those represent some information of our
human interest.
• Statistics is the study of the collection, organization, analysis,
interpretation and presentation of data. It deals with all aspects of data,
including the planning of data collection in terms of the design of surveys
and experiments.
• We find statistics in everyday life, such as in books or other information
papers or TV or newspapers.
• The facts and figures about any
phenomenon- population, production,
national income, profits, sales births etc. or
any other matter are called statistics.

• For Example

– The population of Delhi in 2012


was 1.9 crores, whereas in
Mumbai it was 1.84 crores in the
same year.
– As per UNESCO, the adult literacy
rate in India in 2015 was
72.1%
and that in China was 96.4%
in 9
the same year.
10
The word statistics is used in two senses:
• Singular sense
• Plural sense

11
Two types of statistical methods are used in analyzing data:
Descriptive Statistics and Inferential Statistics.

12
Characteristics of Statistics
Importance of Statistics
• It presents facts in a definite form
• It simplifies mass of figures
• It facilitates comparison
• It helps in formulating and testing of hypothesis
• It helps in prediction
• It helps in formulation of policies
Functions of Statistics
Statistics performs the following functions:

15
Scope of Statistics
Limitations of Statistics

• Useful for numerical studies only

• Doesn’t consider individual but population

• Dependent on estimates and rough calculations

• May promote false conclusions by deliberate manipulation of figures and unscientific handling

• More than one method for a single problem

• Provides a basis of judgement but not the whole judgement

• If sufficient care is not exercised in collecting, analyzing and interpretation the data, statistical
results might be misleading.
• Only a person who has an expert knowledge of statistics can handle statistical data efficiently.
Conclusion
Students were made aware about the meaning of statistics, singular vs plural sense
and importance, scope and limitations of statistics.

18
Suggested Readings
• Author: Dr. S.P. Gupta and Dr. P.K. Gupta
• Title of the book: Quantitative Techniques and Operation
Research
• Chapter Name: Introduction to Statistics
Reference Material (Notes and ebook)
https://drive.google.com/drive/folders/1WYGwU6tl7sMHejg
jqHa6A3BySc9IEGJn?usp=drive_link

20

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