DCM2104 BUSINESS STATISTICS JULY-AUG 2025

Description

SESSION	JULY-AUG 2025
PROGRAM	BACHELOR OF COMMERCE (B COM)
SEMESTER	III
COURSE CODE & NAME	DCM2104 BUSINESS STATISTICS

 

 

Assignment Set – 1

 

Q1. What do you mean by average? State the features required for a good or an ideal average. 4+6

Ans 1.

Meaning of Average and Features of a Good or Ideal Average

Average

An average is a statistical measure that represents a large set of numerical data with a single, central value. It expresses the general tendency of a dataset and gives an overall idea of its magnitude. In statistical terms, an average is known as a measure of central tendency because it indicates the position around which the values of a series cluster. It helps in simplifying complex and unorganized data into a single, meaningful figure that can easily be interpreted and compared. The most common types of averages used in business and economics are the arithmetic mean, median, and mode. The arithmetic mean is obtained by dividing the sum of

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Q2. Statistical data can be classified in respect of their characteristics. In lieu of this explain four types of classification of data with examples. 5+5   

Ans 2.

Classification of Statistical Data and Its Types

Classification in statistics refers to the systematic arrangement of raw data into different groups or categories based on their similar characteristics. When large amounts of data are collected, they are usually unorganized and difficult to interpret. Classification helps in simplifying and organizing the data in a manner that reveals patterns and relationships. It enables comparison between different sets of data and assists in statistical analysis, such as computing averages, correlation, or index numbers. Proper classification ensures that data

 

Q3. Define index number with its uses and types.  2+4+4 

Ans 3.

Definition of Index Number

An index number is a statistical measure that shows changes in a variable or a group of related variables over time. It is expressed as a percentage that indicates how much a particular phenomenon has increased or decreased compared to a base period. In simple terms, an index number measures the relative change in the level of a variable, such as prices, production, or employment, between two time periods. The base period is generally taken as

 

 

Assignment Set – 2

 

 

Q4.  Explain chi square test and its significance in statistical analysis. 10           

Ans 4.

Chi-Square Test and Its Significance in Statistical Analysis

The Chi-Square (χ²) test is one of the most important non-parametric tests used in statistical analysis. Introduced by Karl Pearson in 1900, it helps determine whether the difference between observed and expected frequencies in a dataset is due to chance or indicates a significant relationship. It is mainly applied to categorical data, such as gender, occupation, or preferences, where values are expressed as counts or frequencies rather than continuous

 

 

Q5. Describe the ideal structure of a research report. 4+6           

Ans 5.

Ideal Structure of a Research Report

A research report is a formal document that presents the results, analysis, and conclusions of a research study. It serves as the final stage of the research process, providing a comprehensive account of what was studied, how it was conducted, and what outcomes were achieved. A well-written report communicates findings clearly and concisely so that readers, decision-makers, or academic evaluators can understand and use the results effectively.

Meaning and Purpose of a Research Report

The main objective of a research report is to convey information in a structured and logical

 

Q6. Elaborate the four components of time series. 10      

Ans 6.

Components of a Time Series

A time series is a sequence of data points measured at regular intervals over time. It helps in studying patterns, trends, and movements in variables such as sales, production, prices, and income. In business and economics, time series analysis is essential for planning and forecasting because it reveals how variables change over time. It assists decision-makers in identifying long-term growth, short-term fluctuations, and cyclical changes that influence