QTT201:QUANTITATIVE TECHNIQUES

L:4 T:2 P:0 Credits:6

Course Outcomes: Through this course students should be able to

CO1 :: discuss the fundamentals of statistics used in business decision making

CO2 :: classify statistics in context of descriptive and inferential statistics

CO3 :: integrate data description with data inferences

CO4 :: analyze the role of statistical tools and techniques for strategic decision making

CO5 :: establish skills for statistical inference of business data

CO6 :: construct the decision making process under uncertainty using statistical tools

Unit I
Introduction to Statistics : Introduction and definition, Function of Statistics, Application of
Statistics, Limitation of Statistics, Usefulness in Survey analysis
Data Collection : Method of Collecting Data, Primary and Secondary Data, Sources of Secondary
Data, Classification of data- Geographical, Chronological, Qualitative and Quantitative Classification,
Tabulation- Tabulation of Data, Types of Tables, Formation of Discrete and Continuous Frequency
Distribution
Diagrammatic and Graphic Presentation : Bar Diagrams, Pie Diagrams, Histogram

Unit II
Measures of Central Tendency : Arithmetic Mean, Average and its importance, Characteristics of
an ideal average, Measures of Concept of Central Tendency, Geometric Mean, Median, Mode
Measures of Dispersion : Range, Mean deviation, Standard deviation, Variance, Skewness, Karl
Pearson co-efficient of Skewness, Coefficient of Variation
Unit III
Correlation Analysis and Regression Analysis : Karl Pearson's and Rank Method, Regression-
Lines of Regression, Coefficient of Regression, Deviation taken from Arithmetic Mean, Scatter Diagram
Analysis of Time Series : Concept of time-series and its components, Method of Semi-Average,
Method of Moving Average,, Method of Simple Average
Unit IV
Probability : Definition and its concept, Addition Theorem, Multiplicative Theorem

Probability Distribution : Concept of probability distribution, Binomial Distribution, Poison

Distribution, Normal Distribution
Unit V
Sampling and sampling Distribution : introduction to sampling, types of sampling : random and
non random sampling, design of experiments, introduction to sampling distributions and its
operational consideration
Unit VI
Estimation : introduction, basic concept of point estimation and interval estimation, concept of
confidence interval
Chi-Square and ANOVA : introduction, chi-square:test of independence and goodness of fit, one
way analysis of variance

Text Books:
1. BUSINESS STATISTICS by J K SHARMA, VIKAS PUBLISHING HOUSE

References:
1. STATISTICS FOR MANAGEMENT, 7/E by RICHARD I. LEVIN, DAVID S. RUBIN, SANJAY
RASTOGI, MASOOD HUSAIN SIDDIQUI, PEARSON
2. STATISTICS FOR BUSINESS AND ECONOMICS, 4/E by R P HOODA, MACMILLAN

3. BUSINESS STATISTICS by DR. S.P.GUPTA, SULTAN CHAND & SONS (P) LTD.

4. APPLIED BUSINESS STATISTICS: MAKING BETTER BUSINESS DECISIONS, 7TH ED, ISV by
KEN BLACK, WILEY

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