Statistical Tools and Techniques – I & II is a comprehensive two-part series designed to provide a clear, structured, and application-oriented understanding of statistical methods used in business, commerce, and economic analysis. The series builds a strong foundation in both basic and advanced statistical concepts, enabling learners to interpret data effectively and make informed decisions.
Part I focuses on core topics such as measures of dispersion, skewness and kurtosis, and moments, helping readers understand variability and distribution patterns in data. Part II extends this foundation by covering advanced areas including index numbers, time series analysis, and statistical inference, which are essential for forecasting, research, and business decision-making.
The content is presented in a simple and systematic manner, supported by step-by-step explanations, solved examples, practice exercises, and Excel-based techniques to enhance computational skills and practical understanding. Tables, diagrams, and real-life applications further enrich the learning experience.
An ideal resource for learners, this series serves as a reliable guide for mastering statistical concepts and applying them effectively in academic and professional contexts.
1. Measures of Dispersion
1.1 Introduction to Dispersion: Meaning and Significance
1.2 Quartile Deviation, Mean Deviation
1.3 Standard Deviation and Variance (Ungrouped and Grouped Data)
1.4 Coefficient of Variation
1.5 Application in Comparing Consistency and Risk
1.6 Excel formulas for calculation of Measures of Dispersions
2. Skewness and Kurtosis
2.1 Introduction to Skewness: Meaning and Types
2.2 Karl Pearson’s Coefficient of Skewness
2.3 Bowley’s Coefficient of Skewness
2.4 Kurtosis: Meaning, Types (Leptokurtic, Mesokurtic, Platykurtic)
2.5 Application in Real-life Data Interpretation
2.6 Excel formulas for Skewness & Kurtosis
3. Moments
3.1 Meaning and Definition of Moments
3.2 Central and Raw Moments (First Four Moments)
3.3 Relationship between Moments and Skewness/Kurtosis
3.4 Computation for Grouped and Ungrouped Data
3.5 Business Applications of Moments
3.6 Excel formulas for Moments
4. Index Numbers
4.1 Meaning, Uses and Types of Index Numbers
4.2 Methods of Construction: Simple and Weighted Index Numbers
4.3 Laspeyres, Paasche, Fisher's Ideal Index
4.4 Cost of Living Index and Consumer Price Index
4.5 Base Shifting, Splicing and Deflating
4.6 Applications in Economic and Business Studies
4.7 Excel formulas for Index Numbers
5. Analysis of Time Series
5.1 Meaning and Components of Time Series: Trend, Seasonal, Cyclical & Irregular
5.2 Methods of Measuring Trend: Moving Averages, Least Squares
5.3 Measurement of Seasonal Variations (Simple Average Method)
5.4 Forecasting Using Time Series
5.5 Application in Sales, Production, and Financial Forecasting
5.6 Excel formulas for Time Series Analysis
6. Statistical Inference – Tests of Hypotheses
6.1 Introduction to Statistical Inference & Terminologies: Null and Alternative Hypotheses, Type I & II Errors
6.2 Testing of Means (Large Sample Z-Test)
6.3 Testing of Proportions (Large Sample Tests)
6.4 Chi-Square Test of Independence (Conceptual & Basic Problems)
6.5 Application of Hypothesis Testing in Business Decision Making
6.6 Excel formulas for Statistical Inference & Tests of Hypotheses
This textbook is aligned with the revised syllabus as outlined
by the National Education Policy (NEP 2020)
Open Electives (OE)
Second Year BA / BSc / BCA / BBA (Semester III & IV)
