This module outlines the basic concepts of business statistics and provides a comprehensive overview of its scope and limitations. The module further studies sampling techniques and examine different methods of primary data sources such as questionnaires. The module then delves into the area of descriptive statistics by examining ways to tabulate and represent data graphically. Furthermore, essential numerical calculations are described in order to characterise a set of data i.e., measures of location and spread as well as assessing the shape of data distributions. The module continues with exploring and investigating relations between business variables employing correlational and simple linear regression techniques. Regression models depicting relations are evaluated statistically. Finally, the module looks at probability aspects of decision making employing basic probability laws. Throughout the module statistical software packages is demonstrated for data analysis purposes.
