This course provides an introduction to the fundamental concepts and techniques of statistics as applied in a business context. Designed for first-year students at Tribhuvan University, the course covers both descriptive and inferential statistical methods, equipping students with the skills necessary to analyze data and make informed business decisions.

Key Topics Include:

Introduction to Statistics: Overview of the role of statistics in business, distinguishing between descriptive and inferential statistics.
Data Collection and Sampling Techniques: Methods of data collection, importance of random sampling, and understanding various sampling techniques.
Descriptive Statistics: Techniques for summarizing and describing data, including measures of central tendency and dispersion, and graphical data representation.
Probability Theory: Basic probability concepts, rules, and different probability distributions such as binomial, Poisson, and normal distributions.
Inferential Statistics: Hypothesis testing, confidence intervals, t-tests, chi-square tests, and Analysis of Variance (ANOVA).
Regression Analysis: Principles of simple and multiple linear regression, interpreting regression coefficients, and assessing the goodness of fit.
Time Series Analysis: Identifying trends, seasonal patterns, and cyclical variations in time series data, and using forecasting models.
Decision Making: Applying statistical methods for business decision making, including risk analysis and decision trees.

Through a combination of lectures, hands-on exercises, and real-world case studies, students will develop a solid foundation in business statistics. The course emphasizes practical application, enabling students to leverage statistical techniques for effective data-driven decision making in their future careers.