Business Statistics

Merits of Geometric Mean It is rigidly defined.It is based on all the items.It is capable of further algebraic treatment.It gives less weight to large ...

Scatter Diagram The esistence of correlation can be shown graphically by means of a scatter diagram Statistical data relating to simultaneous ...

List of various Tests of Adequacy of Index Number Formula Are: Unit TestTime Reversal TestFactor Reversal TestCircular Test Unit Test:  This test ...

Requisites of a good average are as follows: It should be simple to compute.It should be easy to understand.It should be rigidly defined.It should be ...

Deflating:  One of the most useful application of price indices is to adjust series of rupee figures for changes in level of prices. This is known as ...

There are two types of measures of dispersion: Absolute measures of dispersionRelative measures of dispersion. Absolute measures of dispersion:  ...

Problems in the Construction of Index Numbers: Selecting the purpose of the index number: There cannot be any all-purpose index. For example, if an ...

Mid -value: It is the average of the lower limit and the upper limit of a class.Example: Lower limit of the first class is 0 and the upper ...

False Base Line is a device relating to graphical presentation. This line is used to break the continuity of Y-axis with the origin. A false base line is used ...

Functions of Statistics: Statistics presents facts in a definite and precise form: Statistics presents statements of facts in a precise quantitative and ...

The term statistics has been defined in singular sense as well as plural sense. Statistics in Singular Sense:  In singular sense, the term ...

An index number can be called as a device which measures the relative change in the level of a phenomenon with respect to time, geographical location or some ...

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