Name of the Program: Master of Business Administration (MBA

Course Code: 23MBA14

Name of the Course: Statistics for Management
Course Credits No. of Hours per Week Total No. of Teaching Hours
4 Credits 4 Hrs 56 Hrs
Pedagogy: Classrooms lecture, solving problems through board work, Case studies through
EXCEL, Application oriented problems.
Course learning Objectives:
 To elevate students’ awareness of data in everyday life and prepare them for a career in today’s
age of information.
 To have a proper understanding of Statistical applications in Management.
 To develop statistical literacy skills in students to comprehend and practice statistical ideas at
many different levels.
 To promote the practice of the scientific method in our students: the ability to identify
questions, collect evidence (data), discover, and apply tools to interpret the data, and
communicate and exchange results.
 To understand the association between variables in study.
 To understand the uncertainty and measuring the uncertainty.
 To understand the decision making under different situations.
Syllabus: Hours
Module No. 1: Introduction to Statistics 10 Hours
Statistical Data: Primary and Secondary data – Sources of Data – Classification of data - Frequency
Distribution –relative frequency distribution, cumulative frequency distribution.
Measures of central tendency: Mean, Median and Mode and their implications, geometric harmonic
means.
Measures of Dispersion: Range, quartile deviation, Standard deviation, variance, Coefficient of
Variation, Skewness, and Kurtosis. Measures of skewness and kurtosis. Case study through Excel
Diagrammatic and Graphic Representation of Data – Graphs – Advantages and Limitations of
Diagrams and Graphs - Tabulation: Types of Tables. Construction of one way and two-way tables.
Module No. 2: Probability and Probability Distribution & Sampling Distribution 10 Hours
Probability: Concept of probability and its uses in business decision-making; Addition and
multiplication theorems; Bayes’ Theorem and its applications. Random variables.
Theoretical Probability Distributions: Concept and application of Bernoulli, Binomial; Poisson, discrete
Uniform, Exponential, Normal, and continuous uniform distributions. Introduction to sampling
distributions, Sampling distribution of mean and proportion, Sampling techniques. Estimation: Point
and Interval estimates for population parameters of large sample and small samples.
Module No. 3: Estimation, Testing of Hypothesis, and Non-parametric tests. 16 Hours
Estimation: Point and Interval estimates for population parameters of large sample and small samples,
determining the sample size. Hypothesis testing: one sample and two sample tests for means and
proportions of large samples (z-test), one sample and two sample tests for means of small samples (t-
test), F- test for two sample standard deviations. ANOVA one way and two ways. Chi-square test for
single sample standard deviation, Chi-square tests for independence of attributes and goodness of fit,
Non-parametric tests: One sample and two sample sign tests, Wilcoxon sign rank test, Mann – Whitney
U test and Kruskal Wallis test. Run test for randomness. determining the sample size.
Module No. 4: Correlation, Regression, and Time Series 10 hours
Correlation Analysis: Positive and Negative Correlation, Karl Pearson’s Coefficient of Correlation,
Spearman’s Rank Correlation, Concept of Multiple and Partial Correlation.
Regression Analysis: Concept, Least Square fit of a Linear Regression, Two lines of Regression, and
properties of Regression coefficients. Multiple regression, assumptions. Validation, implementation.
Time series analysis: Concept, Additive and Multiplicative models, Components of time series. Trend
analysis: Moving averages, exponential smoothing, and Least Square method. Linear and non-linear
equations, Exponential shooting method, Applications in business decision-making.
Module No. 5: Decision Theory 6
Decision Theory – Decision under certainty, Decision making under risk (EMV criteria) and Decision
making under uncertainty. Decision Tree – Concept – Construction of Decision Tree and Analysis.
EMV, EOL, EPPI, and EVPI.
Module No. 6: Index Numbers 4
Index Numbers: Meaning, Types of index numbers, Uses of index numbers, Construction of Price,
Quantity, and Volume indices, Fixed base, and Chain base methods.
Cost of living index number. Timer reversal and factor reversal tests.
Course Outcome:
 Acquire knowledge of statistics and its scope and importance in various areas
 Understand the differences between univariate and bivariate analysis.
 Understand the concepts of discrete and continuous random variables and probability
distributions.
 Distinguish between application of tests for means, proportions, and variances.
 Understanding the importance of Decision making
 Understanding the importance of Index number

Reference Materials:
1. N.D. Vohra, Business Statistics, Tata McGraw Hill.
2. Statistics for Business and Economics, Anderson, Sweeny, Williams, Camm, and Cochran,
Cengage publication
3. Applied Business Statistics, Ken Black, Wiley Publication
4. Business Statistics by Levine, Krehbiel, Berenson & Viswanathan
5. Business Analytics, James Evans, Pearson Publication
6. Business Statistics by R.S Bharadwaj