Business Statistics

Semester : I - Core
Title of the Subject / course : Business Statistics
Course Code :
Credits : 4 Duration in Hrs. : 40

To know statistical techniques

2 To understand different statistical tools
3 To understand importance of decision support provided by analysis techniques
4 To appreciate and apply it in business situations using caselets, modeling, cases and projects
5 To understand Managerial applications of Statistics

Unit Content Activity Learning outcomes

No.
1 Revision of Data
Representation, Central
Tendency and Dispersion
Kurtosis and Skewness
2 Probability- Axioms, Addition
and Multiplication rule, Types of
probability, Independence of
events, probability tree, Bayes’
Theorem
3 Concept of Random variable,
Probability distribution,
Expected value and variance of
random variable, conditional
expectation, Classical News
Paper boys problem(EMV,
EVPI)
4 Probability distributions
Binomial, Poisson, Normal
5 Sampling distribution
Problem solving, cases Learner will be able to
demonstrating typical uses apply these
of mean, mode median, basic concepts in business
Use of Microsoft Excel, situations,
available software Analyse charts graphs to
analyse
business situations
Solving problems and Understand the uncertainty
Caselets, in
Writing short cases business situations as
probability
Problem solving , Understand decision under
Creating decision tree, risk, use
cases of conditional expectation
as basis
for comparison
Problem solving, Microsoft Use of distributions in
excel, cases Quality
control, Six sigma and
process
control
Problem solving, Microsoft Importance of Central
excel limit theorem

6 Estimation- Point estimation , Problem solving, Microsoft Understand Confidence

Interval estimation Excel interval as
way of hypothesis testing
7 Hypothesis testing- students t, Problem solving, Microsoft Use in research
Chi square, Z excel, cases

8 Analysis of variance- one way, Problem solving, Microsoft Use in research

two way excel, cases
9 Correlation and regression Problem solving, Microsoft Understand Model
Analysis and significance excel, cases building

References

1 Statistics for Management, Richard Levin , David Prentice Hall of India

Rubin
2 Statistics for Managers Levine, Stephen, Krihbiel, Pearson Education
Berenson
3 Complete Business Statistics Aczel Sounderpandian Tata McGraw Hill