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SESSION March 2024
PROGRAM Bachelor of commerce
course CODE & NAME DCM 2104 business statistics




Assignment Set – 1st


  1. What do you mean by average? Write down the features required for a good or an ideal average.

Ans: An average is the mathematical value that can represent the complete population. An average is that number which must be a good representative one for all the observations to give a clear picture of that characteristic such representative number can be a central value for all these observations. This central value is called a measure of central tendency or an average or a measure of locations. There are five averages-mean, median, mode are simple averages while geometric mean and harmonic mean are special averages. Arithmetic mean or simply the mean of a


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  1. Statistical data are classified in respect of their characteristics. In lieu of this explain four types of classification of data.


Types of Classification:

Statistical data are classified in respect of their characteristics. Broadly there are four basic types of classification namely.

  1. a) Chronological classification
  2. b) Geographical classification
  3. c) Qualitative classification


  1. Define index number with its uses and types.

Ans: An index number is a statistical device for comparing the general level of magnitude of a group of related variables in two or more situations. If we want to compare the price level of 2000 with what it was in 1990, we shall have to consider a group of variables such as price of wheat, rice, vegetables, cloth, house rent etc., If the changes are in the same ratio and the same direction, we face no difficulty to find out the general price level. But practically, if we think changes in different variables are different and that too, upward or downward, then the price is quoted in


Assignment Set – 2nd


  1. Explain chi square test and its significance in statistical analysis.

Ans: The Chi-Square (χ²) test is a statistical test used to determine if there is a significant association between categorical variables. It is widely used in hypothesis testing to assess whether observed frequencies in a contingency table differ from expected frequencies. 

Types of Chi-Square Tests Chi-Square

Test for Independence: Used to determine if there is a significant association between two categorical variables.

Chi-Square Goodness


  1. What should be the ideal structure of a research report? Explain with the elements of the structure.


The ideal structure of a research report is designed to present research findings clearly, logically, and comprehensively.

Here’s an outline of the key elements typically included in a well-structured research report: 

  1. Title Page Title of the Report: Concise and descriptive. Author(s): Name(s) of the researcher(s).

Affiliation: Institution or organization the author(s) is associated with. Date: Date of completion or submission.

  1. Abstract Summary


  1. Elaborate the four components of time series.

Ans: There are four kinds of change or variation involved in time series analysis:

  1. Secular Trend
  2. Cyclic Fluctuations
  3. Seasonal variations
  4. Irregular Variations

Secular Trend: In this first type of change, the value of the variable tends to either decrease or increase over a long period of time. It can be defined as “a consistent long term change in the average level of the forecast variable per unit of time”. The steady increase in the population of India recorded by the census department is an example of secular trend. Table shows a secular trend which is