The knowledge of statistics is indeed an integral part of human civilization for better judgment. The use of statistical knowledge has now become far and wide in academic fields like business management, agriculture, medicine, political science, engineering, sociology, psychology and public administration. Today, education in any field is not considered to be complete without the knowledge of statistics and information management.
The application of statistical techniques has become increasingly important particularly in business and industry in the face of increasing complexity in decision making. Statistical methods are also essential for solving many other management-related problems. Thus, business executives and others who are concerned with management decision making should have a better knowledge of statistics.
The first edition of the book was brought out in 2004. It was reprinted in the same year with some revisions and updating.
It is a matter of great satisfaction us that the book has been found useful by students, teachers, management practitioners and others concerned with management and decision making responsibilities.
Encouraged by the good response particularly from the students of MBS, MBA and other graduate and post-graduate programs, we are happy to bring out the fourth edition with thoroughly revised version. In this edition, all the valuable suggestions and feedback received from the teachers, students and other readers all over the country have been incorporated. Subject contents of some chapters have been restructured and upgraded. This restructuring and upgrading of the chapters have enhanced the quality and utility of the book.