News Details

Why is Statistics Being Taught in BBA? What are their Uses?

This article was updated on 11th June 2020

Statistics

So, when you opt for BBA steam and realize that there is a subject called Statistics "Boley to a part of Maths" you get a little bit of shocked, Ok! Ok! A lot of shocked. If you have studied this subject before, then its great. In BBA, Statistics is being taught from the basics, i.e. mean, median, mode, etc. etc.

So, why are people scared of it? Why is it being taught in BBA? What is the purpose of it? What does statistics actually mean? What are its uses in the Business World?

Statistics: 

What do you actually understand by the word of statistics? 

According to me, The presentation of data is what comes out from the word of Statistics. Basically, Statistics is a part of Maths! it consists of numeric values, the data that can be analyzed, summarized to a conclusion.

But whats the reason behind people being scared of it? Is it due to the calculations and huge formulas?

I guess so.

You would have heard a lot of memes, that your answer to the question no. 17 is 260 but the whole class is discussing whether its 4.2 or 4.6.

But you know homey! This does happen due to the silly stupid mistakes of calculations.

Do you know? That a calculator is allowed in the stats examination. Isnt it cool? Now, what you are afraid of?

Lemme give you a few tips :

1. Go thoroughly regarding the formulas. Many students write the wrong formula - You tell me yourself, if the starting, the basic start of the answer is wrong, then what will be your answer? Heres to that meme! XD. So, make sure you are writing the right and exact formula.
2. Statistics is a subject where you can get confused about, to apply which formula, e.g. By Actual Mean Method; By Assumed Mean Method; By Actual Values Method. But the answer you can use any. In statistics, there are three ways to solve a question. Now that is up to you, which way or track you take, the answer will be the same through all the ways.
3. Practice with a calculator. Whenever you are studying statistics, make sure you are working with the calculator! I mean its good if your calculations are that strong but when it comes to those lengthy square roots, you should take help of a calculator. As in an examination hall, you are in a quiet a hurry situation, the rhythm, the zeal, the speed you are working in can be stacked cause of few lengthy calculations. And your time will be get wasted. But if you would have practised daily on a calculator, it would take no time. Cause obviously sometimes we type the wrong number due to which we have to erase the whole and do it again. Plus calculator is a machine, we always have this scary thought that what if it malfunctions, and give us or provide us with the wrong answer. Duuudeeee! Then you are going down! I mean, No kidding, but everyone gets a fear of it. So if you will work with a calculator you will get a habit of it and you wont get those scary goosebumps at all.
4. Practice daily. It seems easy but if you wont practice it then you are going down matey! As if you will practice daily, there will be fewer chances of calculation errors and mistakes, Plus you will be in the habit of cracking those babies out, by which you can hit the legendary level of Barney Stinson ( a character from How I met your Mother? ) like a pro in Statistics.
5. If you are tired of those lousy exercises, I would like to say go with the examples dear! A little tip dude Sometimes Questions do come from the examples. In every chapter of statistics, each formula has been shown solved through 3-4 Questions, i.e. the examples before the exercises. Try them out. Just practice them all and you are definitely gonna score.

Now comes the query of Why is Stats in BBA? What role does it play?

Stats is a subject which can benefit us in the area of Marketing, Production, Finance, Research and Development, Planning, etc.

Statistics can be a lot more useful in the Business World.

The most important thing is the result of an enterprise, I mean not that end, is to make its budget. Statistics plays an important role in it. It helps in making the budget, as stats help in Government budgets, etc. Stats are also very useful when it comes to a presentation like if a manager can show or give an amazing presentation with the help of statistical tools to make the presentation more informative, and data collective. Stats is a subject that also helps in daily calculations. Stats also provide us information due to which we can analyse the issues or know about the difference, about the improvements, and losses due to which we a for surely work upon them by finding the right solution for a brighter future.

So, if you think stats are a useless subject in BBA then dude! you are totally wrong. As stat is a subject that is totally useful in the World of Business.

I know! I know! Many of you would be thinking that its maths and maths is Eyak! But what is good if you wont many any effort?

But just think if you that if you love management, English, or any other subject then why not stats or maths? Cause you yourself have already given up so soon. Thats not good cause seriously that can give you a supply, So you are going down Matey!

At least give it a chance, what if you started liking it? An open example is me, itself.

At first, I thought its maths. ew! Im gonna fail baby! but then I started concentrating on every lecture, worked from the basics, understood the concepts And I scored 47/50 in my 1st MST; Im not showing off! Im just saying that if I can do it, why cant you? You can do it too buddy! Bring the studious beat out of you and kick the butt of stats and crack that shit like a pro!