Fundamentals of Business Statistics and Mathematics

About the Book

Fundamentals of Business Statistics and Mathematics is a comprehensive and student-friendly textbook designed to build a strong foundation in the essential concepts of mathematics and statistics used in business, commerce, economics, and related disciplines. Written by Sachin Hatkar and Baswaraj Lakshete, the book is particularly suited to undergraduate students and aims to make mathematical and statistical concepts easier to understand through simple explanations and numerous worked examples.

The book begins with the fundamentals of statistics, explaining its meaning, characteristics, functions, importance, and limitations. It then introduces important mathematical concepts such as permutations and combinations, determinants, and matrices. The statistical portion covers the complete process of working with data, including data collection, classification, tabulation, presentation, and graphical representation.

Students are further introduced to key analytical concepts such as measures of central tendency, including mean, median, and mode, followed by measures of dispersion such as range, quartile deviation, mean deviation, standard deviation, and variance. The book also provides detailed coverage of correlation and regression analysis, index numbers, and probability, enabling readers to develop practical quantitative and analytical skills.

A major strength of this book is its emphasis on worked examples and detailed solutions, helping students understand not only theoretical concepts but also their practical application. With its systematic approach and accessible presentation, this book serves as a valuable textbook as well as a useful reference for students seeking confidence and competence in business mathematics and statistics.

About the Author 

Sachin Hatkar is presently working as an Associate Professor and holds Ph.D. and M.Phil. degrees in Mathematics, with 21 years of teaching experience. He is the author of three books, Introduction to Linear Algebra, Partial Differential Equations, and Elements of the Differential Calculus, along with a Marathi poetry book titled Tarang. He has published 50 research papers in reputed journals and presented papers at 35 National and International conferences. His areas of research interest include Cosmology, Dark Energy, General Theory of Relativity, and modified theories of gravitation. One of his students has been awarded a Ph.D., while three research scholars are currently pursuing Ph.D. under his supervision. He has completed an MRP funded by Swami Ramanand Teerth Marathwada University, Nanded, and has served as a member of the Board of Studies in Mathematics at the university. He is currently working as an NSS Program Officer and has also served as the NSS Hingoli District Coordinator.

Baswaraj Lakshete is presently working as an Associate Professor and holds SET, Ph.D., and M.Phil. degrees in Commerce, with 17 years of teaching experience. He is the author of two books, Management and Motivation Thinkers and UCBs Performance Evaluation, Challenges, Problems, Measures and Expectations. He has also published two patents titled Smart Device for Bank Administration and Work Stress Monitoring Device for Bank Employees. He has published 45 research papers in reputed journals and presented papers at 30 National and International conferences. His areas of research interest include Finance, Marketing, Banking, and Economics. One of his research scholars has been awarded a Ph.D., while four scholars are currently pursuing Ph.D. under his supervision. He has completed two Minor Research Projects (MRPs) funded by the University Grants Commission, Delhi, and Swami Ramanand Teerth Marathwada University, Nanded. He serves as a member of the Board of Studies in Economics under the Faculty of Commerce and Management at Swami Ramanand Teerth Marathwada University, Nanded, and as a member of the Board of Studies in Mercantile Law at Rajarshi Shahu College (Autonomous), Latur, Maharashtra. He is also serving as a Director of Vaijynathappa Saraf Marathwada Nagari Sahakari Bank Ltd., Hingoli, Maharashtra.