Business Statistics, Vol. 1 (Hardbound - 2022)

The book Business Statistics has been designed to cover a comprehensive course in Business Statistics for the students of Commerce and Business Management. It presents a thorough treatment of statistical tools in such a way that a previous acquaintance with Statistics and Mathematics is not necessary. For the students of non-mathematical background, all the mathematical tools such as permutation, combination, set theory, factorial, etc. required for the study of probability have been properly dealt with. As far as possible, mathematical complexity has been avoided and wherever necessary, the notations and terminologies have been clearly described with detailed explanation of mathematical steps involved. Numerous real-world examples and applications have been provided throughout the book to reinforce basic statistical concepts used in commerce and business. This book follows a concept-example-exercise approach in all chapters for better understanding of the topics covered.

Some of the special features of this book are:

• Solid organization, with presentation of information in a logical, easy-to-grasp sequence, incorporating the latest trends in the field of Business Statistics.
• Application-oriented content, step-by-step explanation of basic concepts, lucidity of style and simplicity of expression for better understanding of the subject.
• Exhaustive and comprehensive coverage of all the topics taught at undergraduate and postgraduate levels in Indian universities.
• A large number of illustrated solved examples to give an insight into the basic concepts and a better understanding of the subject.
• Rich and properly graded problem sets under the Exercises for Self Assessment.
• Case Studies to acquaint the students with an assortment of organizational scenarios faced in real life.
• An exclusive chapter on modern ideas of Statistical Quality Control to provide up-to-date coverage of this popular and significant trend in the field of quality control.
• A chapter on Business Forecasting Model comprising Holt’s Model, Winters’ Model, and Measurement of Forecast Accuracy.
• Inclusion of problems from the latest examination papers of Indian universities and professional courses like M.B.A., C.A., I.C.W.A., etc.

K.R. Gupta, M.A., Ph.D., is a well-known Economist. He has studied Mathematics, Mathematical Statistics, Economic Statistics as well as Business Statistics. He has published over twenty books, and contributed more than hundred papers in reputed journals, being published in India and abroad. The books written by him include Statistics (2 vols.); Practical Statistics (2 vols.); Mathematical Statistics (2 vols.); Probability Theory: The Logic of Science; Statistical Definitions, Formulas and Tables; and CAT Cracker: Quantitative Aptitude; Statistical Methods in Education and Psychology.

He has about two decades of experience in teaching postgraduate classes and guiding research in the University of Jammu and Kurukshetra University. He has also worked as an Economist in private as well as in public sector. His last assignment was as Economic Advisor to the Modi Enterprises.