Statistics is a branch of mathematics that deals with collection, presentation, analysis, interpretation and organizing the data available. Normally, it is defined in two senses: Singular sense – in this sense, we define it as body of methods used to collect, present, analyze and interpret the...

last updated on 11-Nov-2017

As statistics is about aggregate of numerical facts, it cannot be explained in singular manner. In order to present the data singularly, the averages are calculated and described. The average calculated in such a manner is the representative of most of the valued of the data. It is also called Measu...

last updated on 11-Nov-2017

It is one of the most common and popular measure of central tendency. It is defined as the sum of all the observations divided by the number of observations. It is denoted by A.M. The major problem with A.M is that if the differences among observations are high, then this average will give the misle...

last updated on 11-Nov-2017

Median is simply defined as the most middle value of an arranged data. It means that it divided the data into two equal portions. Formula Median = (n + 1 / 2) th value Example Find median of the following data: 7, 3, 8, 5, 6, 9, 11, 5, 18, 11 Solution First, we will arrange the unarranged data as fo...

last updated on 11-Nov-2017

Mode is the value which occurs most frequently in the given set of data. If the distribution has one mode, it is called Uni-modal distribution, while distribution with two modes is called Bi-modal distribution. Distribution which has more than two modes is called Multi-Modal distribution. Example Fi...

last updated on 13-Nov-2017

Index numbers are used to measure the changes happened in a variable over a period of time. This is an effective method to analyze the variable and how it has affected the related factors. In our daily life, it usage is very common such as it is used to measure the price changes of products or servi...

last updated on 13-Nov-2017

Index numbers are broadly categorized into three main index numbers as follows: Price Index Number - this is used to measure the changes in the price from one period to the other. Quantity Index Number - this is used to measure the changes in the quantity from one period to the other. Value Index Nu...

last updated on 13-Nov-2017

In order to give each commodity a relative importance, a number is assigned which is called weights. In Price index numbers, quantities of commodities in the base or current year are normally used as weights. Types of Weighted Index Numbers Laspeyre price index Paasche price index Fisher price index

last updated on 13-Nov-2017

In this price index, we use the base year quantitties as weights. That is why it is also called Base Year Weighted Average Index Number & is denoted by L. Formula This price index is valuable only when the difference between base year quantity and the current year quantity is not too much. If it...

last updated on 13-Nov-2017

In this price index, we use the current year quantitties of commodities as weights. That is why it is also called Current Year Weighted Average Index Number & is denoted by P. Formula

last updated on 13-Nov-2017

In order to combine the effects of both Paasche and Laspeyre price index, Fisher presented a new formula to calculate price index. It is defined as the geometric mean of Paasche and Laspeyre price indices. Formula

last updated on 13-Nov-2017

Contents

Financial Ratios
Accounting Cycle
Accounting Principles
Financial Accounting Basics
Financial Statements Reporting
Bad Debts
Current Assets
Long-term Assets
Voucher System
Partnership
Depreciation
Work Sheet
Difference Between Reserve and Fund
Accounting for Leases
Capital reduction and reconstruction
Absorption of Company
Amalgamation
Accounting for Installment Sales
Basis of Recording Profit and Loss
Branch Accounting
Construction Contracts
Revenue Recognition
Accounting for Groups
Financial Analysis
Events After the Balance Sheet Date
Deferred Tax
Cost Accounting
Activity Based Costing (ABC)
Throughput Accounting
Relevant Cost
Break Even Analysis
Standard Costing
Inventory Management
Payroll Accounting
Royalty Accounting
Statistics
Master Budget
Salary Income
Microsoft Excel Tutorial
Other Topics
Share or Stock Valuation Model