KSLU Solved Question Papers
Business Statistics
Previous Year Question Paper with Solution
B.Com. LL.B. (Five Years) · Sem 3
2024 Aug Examination
munotes.in
Mumbai
B.Com. LL.B. (Five Years) Sem 3 Business Statistics 2024 Aug Question Paper with Solutions
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.
Passages from this volume may be quoted, in print, online or by an AI system, with credit: name munotes.in and link to this volume's page. The volume may not be reproduced as a whole. Full terms at munotes.in/content-license.
munotes.in is an independent study resource for students of Karnataka State Law University. It is not affiliated with Karnataka State Law University, and is not endorsed by it.
The University does not publish an official answer key for this paper. The answers in this volume are model answers, written to show how a full-mark answer is built. They are a study aid, not an authority on what an examiner marked.
The question paper reproduced here is the paper as set by Karnataka State Law University at the 2024 Aug examination.
Contents
The questions below are the paper as Karnataka State Law University set it at the 2024 Aug examination, in the order it was set.
MarksPage
MarksPage
The Paper as Set
The questions in this volume are the questions asked at the 2024 Aug 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
Instructions printed on the paper
- N.B. (1) Figures to the right indicate marks. (2) Answer should be written in English completely. (3) Use simple calculator only.
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 1
(a)Define statistics. Explain the characteristics of statistics.[10]
Answer
For full marks, cover: definitions of statistics in its two senses; each characteristic of statistics as data, explained with an example that has it and one that does not; the characteristics of statistics as a method; and a closing line on why the characteristics matter.
Definitions
The word statistics has two meanings. As a plural noun it means numerical data. As a singular noun it means the method of handling such data.
As data. Horace Secrist's definition is the most complete: 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."
As a method. Croxton and Cowden define statistics as "the collection, presentation, analysis and interpretation of numerical data". In simple terms, it is the science of learning from figures.
Secrist's definition is the source of the characteristics of statistics. Each phrase in it states one characteristic.
Characteristics of statistics as data
1. Statistics are aggregates of facts. A single figure is not statistics. "Ravi scored 72 marks" is a fact about one person. "The 60 students of the class scored an average of 64 marks" is statistics, because it describes a group. Only numbers relating to many items can be compared and analysed.
2. They are affected by many causes. Statistical facts are the result of several forces acting together, not of one cause. The sales of a shop depend on price, season, advertising, competition and the income of customers, all at once. Statistics is useful exactly because it can study a result whose causes are mixed.
3. They are expressed in numbers. Qualitative statements are not statistics. "Rainfall was heavy this year" is not statistics; "rainfall was 1,850 mm this year" is. Qualities such as intelligence become statistics only when they are turned into scores or ranks.
4. They are enumerated or estimated with reasonable accuracy. Small fields are counted (enumerated) exactly. Large fields, such as the yield of wheat in a whole state, are estimated from a sample. Perfect accuracy is not possible in a large field, but the degree of accuracy must suit the purpose. A city's population may be stated to the nearest thousand; a person's medicine dose cannot be.
5. They are collected in a systematic manner. Facts gathered casually, without a plan, are unreliable. A planned method of collection, with clear definitions and a fixed unit, is needed. A survey of household spending must define a household and the period covered before it begins.
6. They are collected for a predetermined purpose. The purpose must be fixed before collection, because it decides what is collected. Figures collected to study the health of children will not serve a study of their schooling unless planned for it.
7. They are placed in relation to each other. Statistics must be comparable. The figures should be of the same kind, on the same basis, for different times or places. The production of cement in two years can be compared. The production of cement in one year and the number of cars in another cannot.
The characteristics applied to one example
A town council surveys the monthly sales of 200 shops to plan a new market. The figures relate to many shops, so they are an aggregate. Sales depend on many causes, and they are stated in rupees. They are counted from each shop's books, which is reasonably accurate. The survey follows a planned form, for a purpose fixed in advance, and every shop is measured the same way, so the figures are comparable. These figures are therefore statistics.
Characteristics of statistics as a method
- It is a science of numbers. It works only with quantitative facts.
- It works in stages. Collection, classification, presentation, analysis and interpretation follow one another.
- It studies groups. Its results describe the mass, not the individual.
- Its laws hold on average. A statistical result is true in the long run and for the group, not in every single case.
- It is both a science and an art. Its methods are systematic, but using them well needs judgment.
- It is a tool for other subjects. Economics, business, law, medicine and the sciences all use its methods.
Why the characteristics matter
The characteristics are a test of whether a set of figures deserves to be called statistics. All statistics are numerical statements of facts, but all numerical statements of facts are not statistics. A figure that fails these tests, such as a single unrelated number or a careless guess, cannot support a sound conclusion.
Conclusion. Statistics means numerical data and the science of handling them. As data, statistics are aggregates of facts affected by many causes and expressed in numbers. They are enumerated or estimated with reasonable accuracy, collected systematically for a fixed purpose and comparable with each other. As a method, statistics studies groups through ordered stages, gives results true on average, and serves as a tool for every field of study.
The rest of the answers
The first answer is free. The rest come with the KSLU B.Com. LL.B. Semester 3 solved papers.
You have read the question paper and its first answer in full. Buy the solved papers once and you can read every answer of every solved paper in this semester.
Solved papers: ₹499 Already bought it? Sign in
The question paper itself stays free, and so does the syllabus.
Found an error in this volume? Report it and we will check it against the paper.