Name: Business statistics 3 Sem
SKU: 5537
Availability: InStock

Business statistics 3 Sem

In stock

Business Statistics at the third-semester level advances into more analytical and inferential techniques used for decision-making in uncertain business environments. It builds upon descriptive statistics to focus on probability theory, statistical inference, regression analysis, and forecasting. The subject equips students with the skills to draw meaningful conclusions from sample data, model relationships between business variables, and make data-driven predictions.

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Probability Distributions & Statistical Inference: This involves moving beyond data description to understanding and applying key probability distributions (like Binomial, Poisson, Normal). The core of inference includes estimation (point and interval estimates) and hypothesis testing (e.g., Z-tests, T-tests) to make conclusions about population parameters based on sample data.
Correlation and Regression Analysis: This area focuses on quantifying the relationship between two or more variables. Students learn to calculate correlation coefficients, build simple and multiple linear regression models, and use these models to forecast outcomes and understand how changes in independent variables (like advertising spend) affect a dependent variable (like sales).
Advanced Forecasting and Decision Theory: The curriculum often introduces time-series analysis for forecasting trends, seasonal patterns, and cyclical variations in business data. It may also cover decision theory concepts, helping managers choose the best course of action under conditions of uncertainty using tools like decision trees and payoff tables.

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