M.

Com -Semester 2
Quantitative Techniques - MCC 201
1. Describe statistical techniques.
There are several statistical techniques that are commonly used by people in taking
business decisions. The important statistical techniques are:
Sampling analysis: Sampling analysis is the technique of selecting few
samples from an entire set of samples for the purpose of analysis so that
time and cost related with the analysis of entire set can be minimized. The
selected sample acts as the representative of entire set and the behaviour
shown by the selected sample is considered as the behaviour of the entire
set. The process of selecting a subset from the entire set of samples is known
as sampling. Samples can be selected in following two ways:
Probability or random samples: In this method of selecting a sample,
each element or sample of the entire set has the equal probability of getting
selected for analysis.
Non-probability or purposive samples: In this method of selecting a
sample, the selection of a particular element or sample is entirely based on
the choice of selector.
Regression and correlation analysis: It is concerned with the
interrelationship between the factors affecting the business. Regression
analysis deals with finding out how one of the factors affecting business is
related to the other factors. Correlation analysis deals with measuring how
closely the factors are related to one other. Using this technique, it is possible
to calculate the value of one of the factors when the value of other factor is
known.
Index numbers: It measures variations in the price and volume of items,
fluctuations in income and gains, etc., over a given period of time. The
selection of a component for measuring the fluctuation is based on the
aspect of the business regarding which the decision is to be taken.
Time series analysis: It deals with the measurement of data associated
with a given context at successive interval of time. For example, in context of
banking, the transaction data is gathered by the banks on daily basis. The
time interval at which measurement is done can be either regular interval or
irregular interval. This type of analysis helps the management in analyzing
the factors responsible for a particular kind of trend shown over an interval
and helps management in making predictions regarding the future of
business.
Interpolation and extrapolation: Interpolation is defined as the process of
estimating a value of a function which lies between two given values.
Extrapolation is defined as the process of estimating the value of a function
which lies outside the given range of values. Extrapolation can also be
perceived as calculating the future value of a function based upon the past
values that are known. Thus, interpolation helps to find the unknown data to
make appropriate business decisions whereas extrapolation helps in
determining the future from past and known trends.
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Ratio analysis: It deals with analyzing the financial position of the

organization. Ratio analysis involves the examination of financial statements,
balance sheets, etc., to find out the status of the organization in the market.
Various ratios are calculated in ratio analysis to check the growth of the
organization. There are several statistical techniques that are commonly used
by people in taking business decisions. The important statistical techniques
There are several statistical techniques that are commonly used by people in
taking business decisions. The important statistical techniques There are
several statistical techniques that are commonly used by people in taking
business decisions. The important statistical techniques There are several
statistical techniques that are commonly used by people in taking business
decisions. The important statistical techniques There are several statistical
techniques that are commonly used by people in taking business decisions.
The important statistical techniques There are several statistical techniques
that are commonly used by people in taking business decisions. The
important statistical techniques There are several statistical techniques that
are commonly used by people in taking business decisions. The important
statistical techniques There are several statistical techniques that are
commonly used by people in taking business decisions. The important
statistical techniques There are several statistical techniques that are
commonly used by people in taking business decisions. The important
statistical techniques There are several statistical techniques that are
commonly used by people in taking business decisions. The important
statistical techniques There are several statistical techniques that are
commonly used by people in taking business decisions. The important
statistical techniques There are several statistical techniques that are
commonly used by people in taking business decisions. The important
statistical techniques There are several statistical techniques that are
commonly used by people in taking business decisions. The important
statistical techniques There are several statistical techniques that are
commonly used by people in taking business decisions. The important
statistical techniques There are several statistical techniques that are
commonly used by people in taking business decisions. The important
statistical techniques There are several statistical techniques that are
commonly used by people in taking business decisions. The important
statistical techniques There are several statistical techniques that are
commonly used by people in taking business decisions. The important
statistical techniques There are several statistical techniques that are
commonly used by people in taking business decisions. The important
statistical techniques There are several statistical techniques that are
commonly used by people in taking business decisions. The important
statistical techniques There are several statistical techniques that are
commonly used by people in taking business decisions. The important
statistical techniques There are several statistical techniques that are
commonly used by people in taking business decisions. The important
statistical techniques There are several statistical techniques that are
commonly used by people in taking business decisions. The important
statistical techniques There are several statistical techniques that are
commonly used by people in taking business decisions. The important
statistical techniques There are several statistical techniques that are
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