KSLU Solved Question Papers
Business Statistics
Previous Year Question Paper with Solution
B.Com. LL.B. (Five Years) · Sem 3
2023 Sep Examination
munotes.in
Mumbai
B.Com. LL.B. (Five Years) Sem 3 Business Statistics 2023 Sep Question Paper with Solutions
First published on munotes.in on 21 October 2026.
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The question paper reproduced here is the paper as set by Karnataka State Law University at the 2023 Sep examination.
Contents
The questions below are the paper as Karnataka State Law University set it at the 2023 Sep examination, in the order it was set.
MarksPage
MarksPage
The Paper as Set
The questions in this volume are the questions asked at the 2023 Sep 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 80 · 20 questions answered
How to use this volume
Solve the paper first, under exam conditions and against the clock. Then read the answers here and mark your own. Reading a solution before attempting the question feels productive and teaches very little, because recognising an answer is not the same as being able to write one.
Q1
Unit I
(a)Define statistics. Explain the sources of secondary data.[10]
Answer
For full marks, cover: a definition of statistics in both senses; the meaning of secondary data with an example; the published sources (government, international bodies, semi-government and research bodies, trade bodies, journals and newspapers, reports of committees, digital databases); the unpublished sources; the advantages and drawbacks of secondary data; and the care needed in using them.
Definition of statistics
In the plural sense, statistics are numerical facts collected systematically for a purpose and placed in relation to each other. The yearly sales of a firm are an example. In the singular sense, statistics is the science of collecting, organising, presenting, analysing and interpreting such facts. Seligman defined it as "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".
The first stage of any statistical work is collecting data. Data may be primary, collected afresh by the investigator, or secondary, taken from sources where someone else has already collected them.
Meaning of secondary data
Secondary data are data that have already been collected and processed by some other person or agency, for some other purpose. An investigator who uses them is using them second-hand. A student who studies the growth of literacy from census reports, instead of counting literate persons, is using secondary data.
Sources of secondary data
Secondary data come from two kinds of source: published and unpublished.
A. Published sources
- Publications of the central and state governments. Ministries and departments publish reports on population, national income, prices, agriculture, industry, trade, labour, health and education. Census reports, statistical abstracts and annual reports of ministries are examples. They are the largest and most reliable source.
- Publications of international bodies. The United Nations, the World Bank, the International Monetary Fund and the International Labour Organisation publish figures for many countries, which allow comparison between nations.
- Publications of semi-government and statutory bodies. The central bank, municipal corporations, port trusts, electricity boards and similar bodies publish data on money, banking, local population, trade and services.
- Reports of committees and commissions. Committees appointed to study a problem, such as wages, taxation or agriculture, collect and publish detailed data in their reports.
- Publications of research institutions and universities. Research bodies and university departments publish the findings of their surveys and studies.
- Publications of trade and business bodies. Chambers of commerce, trade associations, stock exchanges and co-operative societies publish data on prices, production, trade and share prices.
- Journals and newspapers. Economic and business newspapers and periodicals regularly publish data on prices, markets, companies and the economy.
- Digital databases. Many of these bodies now place their data on official websites and online databases, from which tables can be downloaded.
B. Unpublished sources
Some data are collected and kept but never published. They include:
- records of government offices, kept for internal use;
- records of business firms, such as sales, wages and stock registers;
- records of hospitals, schools, banks and trade unions;
- data collected by research scholars for theses that are not printed.
Such records can often be used with the permission of the body that keeps them.
Secondary data at work: an example
A student wants to compare the literacy of two districts over thirty years. Counting literate persons afresh in both districts is impossible for one person, and the past cannot be counted again at all. The census reports already give literacy by district for each census year. Used with care for any change in the definition of a literate person, they answer the question at almost no cost. This is the chief value of secondary data.
Advantages of secondary data
- They save time, money and labour, since no fresh collection is needed.
- They are often the only data available for past years or for a whole country.
- Official data are usually collected by trained staff on a large scale, so they are comprehensive.
Drawbacks of secondary data
- They were collected for another purpose, so they may not fit the present enquiry.
- Their definitions, units or coverage may differ from what the enquiry needs.
- Their accuracy may be unknown, and they may be out of date.
Care in using them
Before using secondary data, the investigator must check four things. These are the reliability of the source and the purpose for which the data were collected. The others are whether the definitions and coverage suit the enquiry, and how recent the data are. Data that fail these checks must be adjusted or set aside.
Conclusion. Statistics means both numerical data and the science of handling them. Secondary data are data already collected by others and used again. They come from published sources, chiefly government and international publications, statutory bodies, committees, research bodies, trade bodies, journals and online databases. They also come from unpublished records. They save time and money, but must be checked for reliability, purpose, coverage and date before use.
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