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B.B.A. LL.B. (Five Years) Sem 3 Business Statistics 2019 Jun Question Paper with Solutions - KSLU

KSLU Solved Question Papers

Business Statistics

Previous Year Question Paper with Solution

B.B.A. LL.B. (Five Years) · Sem 3

2019 Jun Examination

munotes.in

Mumbai

First published on munotes.in on 21 October 2026.

Published by munotes.in, Mumbai.

Model answers written and edited by the munotes.in editorial desk.

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The Paper as Set

The questions in this volume are the questions asked at the 2019 Jun examination, reproduced as Karnataka State Law University set them, in the order it set them. Long reading passages are shortened to their first and last lines and our summary; the original paper prints them in full. Only the answers are ours. See the original question paper.

Duration 3 hours · Total marks 100 · 13 questions answered

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Read the original question paper

Q1Define statistics. Explain the scope of statistics.[16]

Answer

For full marks, cover: the origin of the word; definitions of statistics as numerical data and as a science, with the features each definition brings out; the stages of statistical work; the scope of statistics by its nature (science and art), by its subject matter (descriptive, analytical, inferential; theoretical and applied) and by its fields of use in business, economics, government, banking and insurance, law, the sciences and computing; and a closing judgment.

Where the word comes from

The word "statistics" is believed to come from the Latin word status, the Italian statista and the German Statistik. All of them refer to the state, or to a person who deals with the affairs of the state. In ancient times kings collected figures of population, land, wealth and soldiers to fix taxes and plan wars. Statistics was then the "science of kings" or the science of statecraft.

Today the word has a far wider use. It covers every field in which facts can be counted or measured. It is used in two senses: as numerical facts (the plural sense) and as the method of dealing with them (the singular sense).

Statistics as numerical data

In the plural sense, statistics means numerical statements of facts in any field of enquiry. Examples are the population of India, the prices of shares on a day, or the marks of a class.

Horace Secrist gives the fullest definition in this sense. Statistics are "aggregates of facts affected to a marked extent by multiplicity of causes, numerically expressed, enumerated or estimated according to reasonable standards of accuracy, collected in a systematic manner for a predetermined purpose and placed in relation to each other."

This definition shows that facts become statistics only when they have seven features:

They are aggregates of facts. A single figure, such as one person's height, is not statistics. The heights of 500 students are.
They are affected by many causes. The yield of wheat depends on rain, seed, soil, fertiliser and labour together.
They are expressed in numbers. "The crop was good" is not statistics. "The yield was 32 quintals a hectare" is.

They are enumerated or estimated with reasonable accuracy. Small data are counted. Large data, such as the yield of a whole state, are estimated from a sample.
They are collected systematically. A planned method is used, not a casual one.
They are collected for a predetermined purpose. The purpose decides what is counted.
They are placed in relation to each other. They must be comparable, collected on the same basis for different times or places.

Statistics as a science

In the singular sense, statistics is the science of handling numerical data. A. L. Bowley called it "the science of counting" and "the science of averages". These descriptions are too narrow, because statistics does much more than count and average.

Seligman's definition is wider: "Statistics is the science which deals with the methods of collecting, classifying, presenting, comparing and interpreting numerical data collected to throw some light on any sphere of enquiry." Croxton and Cowden say the same in fewer words, defining it as the collection, presentation, analysis and interpretation of numerical data.

From these definitions the stages of statistical work follow:

Collection. Data are collected from primary sources (by the investigator) or secondary sources (already published).
Organisation. The raw data are edited, classified into groups and arranged in tables.
Presentation. The data are shown in tables, diagrams and graphs so that they can be read at a glance.
Analysis. Averages, dispersion, correlation, index numbers and trends are worked out.
Interpretation. Conclusions are drawn from the analysis and used for decisions and forecasts.

Scope of statistics

The scope of statistics means the range of its subject matter and the fields in which it is used. It is studied under three heads.

1. The nature of statistics: science and art

Statistics is a science because it is a systematic body of knowledge with its own methods. Its methods, such as the mean and the correlation coefficient, give the same result whoever applies them.

Statistics is also an art, because applying the methods well needs skill and judgment. The investigator must choose the right average, the right sample and the right test for the problem in hand. The same data can be misread by a careless hand. So statistics is best described as both a science and an art.

2. The subject matter of statistics

Descriptive statistics collects, classifies and presents data, and summarises them by averages and dispersion. It describes what the data show.
Analytical statistics studies the relationship between variables, by correlation, regression, index numbers and time series.
Inferential statistics draws conclusions about a whole population from a sample, by estimation and tests of significance. A survey of 2,000 voters predicting an election is an example.
Theoretical statistics develops the methods themselves, with the help of mathematics and probability.
Applied statistics uses those methods in a particular field, such as business, economics or medicine.

3. The fields in which statistics is used

(a) Business and management. Statistics is the basis of business decisions.

In production, it is used to plan output, control inventory and check quality by sampling the goods produced.
In marketing, market research measures demand, consumer preference and the effect of advertising.
In finance, it is used to study costs, profits, returns on investment and risk.
In personnel management, it is used for wage fixing, labour turnover and the study of absence.
In forecasting, past sales are analysed by trend and regression to estimate future demand.

(b) Economics. National income, the price level, the cost of living, employment, production and foreign trade are all measured in figures. Economic laws, such as the law of demand, are tested on such data. Planning for economic growth rests on them.

(c) Government and administration. The state needs figures of population, revenue, crime, health, education and agriculture. The census, the budget, five-year plans and welfare schemes all depend on statistics. The word itself began here.

(d) Banking and insurance. Banks study deposits, withdrawals and loan repayment to decide how much cash to keep. Insurance companies fix premiums from tables showing the chance of death at each age.

(e) Law and justice. Courts and governments study the number of cases filed and disposed of, and the time cases take. Figures on crime help plan policing and prison reform.

(f) The natural and social sciences. In medicine, new drugs are tested on samples of patients. In agriculture, crop yields under different seeds and fertilisers are compared. Psychology uses tests and scores, sociology studies population, family and migration, and meteorology uses past weather data to forecast rain.

(g) Computing and data science. Modern computers handle huge amounts of data. Statistical methods lie at the heart of data analysis, market prediction and machine learning.

(h) Accounting and auditing. An auditor checks a sample of vouchers, not every one, and judges the whole by the sample. Cost accountants compare costs over time with averages and index numbers.

(i) Education. Examination results, pass rates and enrolment figures guide the planning of schools and colleges. Teachers compare the performance of two sections by their averages and dispersion.

Why the scope keeps widening

Two changes have widened the scope of statistics in recent years. First, data are now recorded at almost every step of business and government, from bank payments to hospital visits. Second, computers apply statistical methods to millions of records in seconds. So methods that were once too slow for daily use are now used every day.

Limits on the scope

The scope is wide, but not unlimited. Statistics deals only with numbers and groups, not with single cases or with qualities that cannot be measured. Its results are true on average, not in every case. These limits mark the edge of its scope.

Conclusion. Statistics means both numerical data having the seven features in Secrist's definition, and the science of collecting, organising, presenting, analysing and interpreting them. Its scope is very wide. It is both a science and an art, and its subject matter runs from description to inference. It is used in business, economics, government, banking and insurance, law, the sciences, accounting, education and computing. There is hardly a field of human activity in which statistics is not used.

B.B.A. LL.B. (Five Years) Sem 3 Business Statistics 2019 Jun Question Paper with Solutions

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