Business

STATISTICS
Shweta Iyer
BFM-1
College of Fashion Design and
Merchandising
Basic Terminologies
Statistics:Collection of procedures and principles for gathering
and analysing numerical information called data and draw
conclusion and make decision.
Data:Collection of observations of one or more variables of
interest
Population:Collection of elements of interest for gathering and
analysing numerical information for drawing conclusions and
making decisions
Sample:limited collection of data
Need of Statistics in fashion industry
Since fashion industry also forms part of mainstream business
in many of the countries
It referes to increase and decrease of per capita
income,wholesale price index,industrial
production,exports,imports etc.
Types of statistics
2 branches of statistics
a)Mathematical statistics: knowledge of experimental or
theoritical nature
b)Applied statistics:formulating and solving problems in real
life
Statistical methods
Descriptive Method:collecting,presenting,depicting
centre,spread and shape of data array.
Graphic methods-bar graphs,line graphs,pie charts and
numeric measures-central tendency,dispersion,skewness
Inferential Method:methods of estimation population
characterstics on basis of sample results and statistical
hypothesis
Statistics in economics
Time series analysis for studying fluctuation in
prices,production and consumption of
commodities,savings,bank deposits and money transactions
with respect of that industry.
Demand analysis to study relationship between price of
commodity and supply.
STATISTICS IN BUSINESS
MANAGEMENT
Marketing
Production
Finanace
Personnel:wage rate,incentive plans,cost of living,attrition
rates,employment trends,performance appraisal ,need for
training and development,help HRM in
SOURCES OF DATA
Choice of data collection method depends on
1)Research facility available
2)Accuracy required in study
3)Time span of study
4)Amount of money required
Data sources classified as
a)Primary sources
b)Secondary sources
PRIMARY DATA SOURCES
DESIGN OF QUESTIONNAIRE
TYPES OF QUESTIONS IN A
QUESTIONNAIRE
CATEGORIES OF
QUESTIONNAIRE
EXAMPLE OF QUESTIONNAIRE BASED
ON CONSUMER PREFERENCES
SECONDARY DATA SOURCES
ADVANTAGES AND DISADVANTAGES
OF SECONDARY DATA
DATA ANALYSIS PROCESS
QUESTIONS-THEORITICAL
THEORITICAL
QUESTION TYPES-A
QUESTION TYPES-B
TABULATIONS OF DATA
TYPES OF DATA-2 WAY AND 3 WAY
QUESTION TYPES-C
QUESTION TYPES-D
FINAL SUBMISSION -A Study On Consumer
Preference For Branded Apparels-
Menswear/womens wear/kids wear-apparel
types

Types of apparels in menswear

Formal informal
Famous brand
Price comparison
Place comparison
Pricing strategy
Company profile
Brief history
Questionnaire
Analysis
Bibliography

Submission on 26 th November
Spiral bounded
Colored submission-A4
TIMES NEW ROMAN-SIZE 12