This document provides an overview of quantitative techniques - 1 as part of a B.Com program. It discusses the meaning and definitions of statistics, the objectives of statistics which include determining values to represent data, estimating present trends and predicting the future. It also discusses descriptive and inferential statistics. The functions of statistics are presented, including presenting facts precisely, facilitating comparison, formulation and testing of hypotheses, forecasting, policy making, and measuring uncertainty. Learning objectives and outcomes are provided which are to understand the overview of statistics and data collection techniques. Examples of objectives and functions of statistics are discussed in detail. The session concludes with sample multiple choice questions to test understanding.

1. PROGRAMME B.COM
SUBJECT
QUANTITATIVE TECHNIQUE – I
SEMESTER III
UNIVERSITY VIJAYANAGAR SRI
KRISHNADEVARAYA UNIVERSITY,
BALLARI
SESSION 03

2. AKKI MARUTHI
ASSISTANT PROFESSOR OF COMMERCE
SKNG,GFGC,GANGAVATHI, KOPPAL
akkimaruthi@gmail.com

3. RECAP
• Origin and Growth of Statistics
• Meaning of Statistics in Simple Words
• Definition of Statistics with Statistician Profile Picture
• Meaning of STATISTICS AS DATA (In Plural Sense)
• Meaning of STATISTICS AS METHODS (In Singular
Sense)
• Distinction between STATISTICS AS DATA & STATISTICS
AS METHODS
• Some Modern Definitions on Statistics

4. Learning Objectives
• After going through this chapter the students will
be able to have a broad overview of the subject of
statistics and application thereof,Know about data
Collection Technique including the distinction of
Primary and Secondary data.

5. Learning Outcomes
• The students Can be able to understand overview
of the subject of statistics and application and
Know about data Collection Technique.

6. Session -3
• Objectives and Functions of Statistics

7. OBJECTIVES OF STATISTICS
• The basic purpose of the statistical analysis is to
determine the value which represents the whole series
• To develop an appreciation for variability and how it effect
product ,process and system.
• It is estimating the present ; predicting the future
• Study methods that can be used to solve problems ,build
knowledge.
• Statistics make data into information
• Develop an understanding of some basic ideas of
statistical reliability , stochastic process (probability
concepts) .

8. Cont.,
• Statistics is very important in every aspects of society
(Govt., People or Business)
Types of statistics
• Descriptive statistics :use to organize and describe a
sample /population
• Inferential statistics :use to extrapolate (estimate ) from a
sample to larger population

9. Functions of Statistics:
1. To Present Facts in Definite Form
The facts are to be given in a definite form. If the results are given in
numbers, then they are more convincing than if the results are
expressed on the basis of quality.
2. Precision to the Facts:
The data may be presented in the form of a graph, diagram or through
an average, or coefficients etc. For example, we cannot know the price
position from individual prices of all good, but we can know it, if we
get the index of general level of prices.
3. Facilitates Comparison:
The foremost purpose of average is that it facilitates comparison. For
instance, a comparison of the production of jute in Maharashtra a
Punjab shows that production of jute in Maharashtra is much more as
compared Punjab

10. Cont.,
4. Formulation and Testing of Hypothesis:
Averages are of great use in the formulation of various policy measures.
For instance, when the Govt, finds that there is a fear of low product of
sugar, it can formulate various policies to compensate the same
5. Forecasting:
Statistics is not only concerned with the above functions, but it also
predicts the future course of action of the phenomena. We can make
future policies on the basis of estimates made with the help of Statistics
6. Policy Making
With help of statistics we can frame favourable policies. How much food
is required to be imported in 2007? It depends on the food-production
in 2007 and the demand for food in 2007. Without knowing these
factors we cannot estimate the amount of imports. On the basis of
forecast the government forms the policies about food grains, housing
etc. But if the forecasting is not correct, then the whole set up will be
affected

11. Cont.,
7. It Enlarges Knowledge:
Whipple rightly remarks that “Statistics enables one to enlarge his
horizon”. So when a person goes through various procedures of
statistics, it widens his knowledge pattern. It also widens his thinking
and reasoning power. It also helps him to reach to a rational
conclusion.
8. To Measure Uncertainty:
Future is uncertain, but statistics help the various authorities in all the
phenomenon of the world to make correct estimation by taking and
analyzing the various data of the part. So the uncertainty could be
decreased. As we have to make a forecast we have also to create
trend behaviors of the past, for which we use techniques like
regression, interpolation and time series analysis.

12. SUMMARY
As we already discussed and learnt today on
Statistics as below
• What are the objectives of statistics
• What are the functions of statistics

13. MCQs
1. Which of following are objectives of Statistics
A. The basic purpose of the statistical analysis is to
determine the value which represents the whole series
B. It is estimating the present ; predicting the future
C. Statistics make data into information
D. All of above
Answer D
2. Types of Statistics
A) Descriptive statistics
B) Inferential statistics
C) A or B
D) Both A and B
Answer: D

14. MCQs
3. Graphical and numerical methods are specialized
processes utilized in
• A) Education Statistics
• B) Descriptive Statistics
• C) Business Statistics
• D) Social Statistics
• Answer: B
4. Descriptive statistics use to organize
A) sample /population
B) A Quantitative features
C) Both above
D) A only
Answer: D

15. MCQs
5.Which one of the following is Function of Statistics
A. The basic purpose of the statistical analysis is to
determine the value which represents the whole
series
B. It is estimating the present ; predicting the future
C. Statistics make data into information
D. To Present Facts in Definite Form
Answer: D

16. REFERENCES
• STATISTICAL METHODS BY S.P GUPTA SULTAN CHAND
PUBLICATIONS
• FUNDAMENTALS OF STATISTICS BY S.C.GUPTA SULTAN CHAND
PUBLICATIONS
• BUSINESS STATISTICS BY PILLAI AND BHAGAWATHI SULTAN
CHAND PUBLICATIONS

17. THANK YOU