BUSINESS ANALYTICS (MBA-7302) HPTU SYLLABUS OF MBA 3RD SEM
⭐ UNIT – I (FULL DETAILED NOTES, VERY EASY LANGUAGE) 1️⃣ STATISTICS – BASIC INTRODUCTION Definition (Easy English): Statistics is the science of collecting, organizing, presenting, analyzing, and interpreting numerical data for decision making. Why Statistics is Important in Business? Sales forecasting Market analysis Quality control Inventory management Financial analysis Demand prediction Risk assessment Types of Statistics Descriptive Statistics – describes data (mean, median, charts). Inferential Statistics – draws conclusions from sample to population (probability, hypothesis, regression). 2️⃣ MEASURES OF CENTRAL TENDENCY (Center of Data) Yeh batata hai data ka “centre” kahan lie karta hai. A) MEAN (Arithmetic Mean) Mean = Data values ka simple average Formula: Mean = ∑ X N \text{Mean} = \frac{\sum X}{N} Mean = N ∑ X Example (easy): Data: 5, 10, 15, 20 Mean = (5+10+15+20)/4 = 12.5 Advantages: ✔ Easy to calculate ✔ Uses a...