Statistics for Business and Economics, 5/e

Statistics for Business and Economics, 5/e

Authors : R P Hooda

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About the Author

R P Hooda :- R P Hooda is an academician of merit. During his long career of 35 years, he has held with distinction a number of top academic and administrative positions. He remained Professor in the Department of Business Studies/Commerce, Kurukshetra University, for about 20 years and built up the Department as a Centre of Excellence as its Chairman for nine years. He held the offices of the Registrar, Dean Faculty of Commerce and Management, and Director, Directorate of Distance Education at Kurukshetra University. He was Director of Apeejay Institutions at their Dwarka Campus (New Delhi) for quite some time. On an earlier occasion, he also worked as Director, Academic Coordination at Indira Gandhi National Open University (IGNOU), New Delhi. Formerly the Vice-Chancellor of Kurukshetra University, he is now the Vice-Chancellor of Maharishi Dayanand University (MDU), Rohtak.

About the Book

STATISTICS FOR BUSINESS AND ECONOMICS is a comprehensive textbook on Statistics that caters to the needs of students doing a course of any level in the subject. As consumers and future managers, students are introduced to a range of data collection and analysis methods that enable them to evaluate such data and analyse them to reach well informed decisions in various business settings. The thorough and exhaustive text, supplemented by a large number of solved examples, provides a firm grounding in the basics of Statistics. The step-by-step explanations and the logical progression of subject topics go a long way in simplifying the various concepts, methods and problem-solving processes comprising the subject. The book exposes the entire subject matter in a manner that aids easy comprehension and the basic learning of the subject even by those who have not studied it earlier. A large number of questions and exercises at the end of each chapter provide ample scope for practice and application of methods discussed in the book. Solutions to problems are provided in the CD that accompanies the book. The book is useful for students of management, economics and commerce, in which Statistics is a core paper in almost all universities. It is also useful for those preparing for various competitive exams.


1. Defining Statistics - Scope and Related Issues 2. Statistical Data - Collection and Presentation 3. Summarizing Data - Concepts, Issues, and Procedure 4. Summary Measures-I - Measures of Central Tendency 5. Summary Measures – II - Measures of Dispersion 6. Summary Measures-III - Skewness and Kurtosis 7. Regression and Correlation-I - The Two-Variable Linear Case 8. Regression and Correlation-II - The Three-Variable Linear Case 9. Index Numbers -Price, Quantity, and Value Indices 10. Time Series Analysis - Components and Decomposition 11. Business Forecasting - A Brief on Issue and Techniques 12. A Prelude to Probability - Concepts, Definitions, and Postulates 13. The Basic Probability Rules - And Bayesian Theorem 14. Discrete Probability Distributions -Uniform, Binomial, and Poisson 15. The Normal Distribution 16. A Brief on Sampling - Concepts and Methods 17. Sampling Distributions – I - Large Sampling 18. Sampling Distributions – II - Small Sampling 19. Statistical Estimation - Issues and Methods 20. Statistical Testing – I -Concepts, Issues, and Methods 21. Statistical Testing – II -Testing Procedure and the Tests 22. Non-Parametric Testing – I -The Chi-Square Tests 23. Non-Parametric Testing – II -Other Nonparametric Tests 24. Statistical Quality Control

Key Features

  • Focused, objective and concise explanation of concepts
  • Simple, reader-friendly language
  • Large number of solved examples and practice questions
  • Introduction to the notational and symbolic expressions in the beginning to make understanding easier
  • Worked out solutions to problems provided in CD