Pdf | Business Statistics 2 Pankaj Publications

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Laws of probability, Bayes' Theorem, and mathematical expectation. Probability Distributions: Binomial, Poisson, and Normal distributions. Interpolation and Extrapolation: Newton’s and Lagrange’s methods. Time Series Analysis: Components of time series and trend measurement. Regression Analysis:

Short Example: Testing a Pricing Change Scenario: A retailer tests a new price in 10 stores (treatment) and keeps 10 stores at old price (control). Weekly revenue recorded for 8 weeks. Approach: Calculate mean weekly revenue per store in each group, compute pooled t-test for difference in means, report 95% CI and p-value, and estimate the practical magnitude (percentage change). If significant, perform regression controlling for store fixed effects to check robustness.