GC UNIVERSITY, FAISALABAD

FACULTY OF ECONOMICS & MANAGEMENT SCIENCES

LYALLPUR BUSINESS SCHOOL (LBS)

Course Specifications

Business Statistics
STA-304

Spring – 2024

http://www.gcuf.edu.pk/
 COURSE SPECIFICATIONS
Basic Information
Course Title: Business Statistics
Course Code: STA-304
Course credits/week: Theory: 03 Lab: Nil Total: 03
Pre-requisite(s):
Co-requisite(s):
Program(s) on which the course is given: BBA-4th Semester
Is the course major or minor element of the program: Major: Minor:
Department offering the program: Lyallpur Business School (LBS)
Academic year/level: 4

Overall Aims of the Course:

Overview and scope of statistics, Basic theories of statistics, Different types of variables,
kinds of data and methods of data collection, Scales of measurement, Data arrangement
and presentation, formation of tables and charts, Measures of central tendency: mean,
median and mode and quantiles from grouped and ungrouped data. Measures of
dispersion: computation of range, variance, standard deviation, and coefficients of
variation, Skewness and Kurtosis. Correlation and Regression. Definition of probability,
Different terminology used in probability, Different laws of probability, discrete
distributions and continuous distributions with their properties and applications).

Course Objectives:

On completion of this course,

 Distinguish among different scales of measurement and their implications for solving
problems
 Create tables and graphs to format, organize, and interpret data; summarize and present
data
 Calculate and analyze numerical descriptive measures for a given data set
 Calculate Measures of central tendency: median and quantiles from grouped and
ungrouped data and its practical applications.
 Calculate Measures of dispersion: properties of variance, computation of
 coefficients of variation, skewness and kurtosis and its practical applications.
 Apply concepts of sample space and probability to solving problems
 Apply linear regression analysis for estimation and inference; interpret resulting data.

Learning Outcomes:
1. After successful completion of the course students will be able to summarize and analyze
statistical data to solve practical business-related problems.

2. After successful completion of the course students will be able to interpret the relevance of
statistical findings for business
Recommended Books

 Alexander Holmes, Barbara Illowsky, and Susan Dean “Introductory Business

Statistics”.
 Sher M. Chaudhry, Shahid Kamal, “Introduction to Statistical Theory I and II”.
 Saleem Akhtar and Ghulam Hussain Kiyani. “Basic Statistics”
 Ronald Walpole, Myers, Myers, Ye, “Probability & Statistics for Engineers &
Scientists”, 8th edition, 2008, Prentice Hall Publisher.
 Steel, R.G.D. and Torrie,J. H.,1980. Principles and procedures of statistics.
McGraw Hill International Editions.
 Zar, 1998. Biostatistics Analysis.

Weekly Course Plan

Weeks Description of Topics

1 Introduction and scope of statistics, basic concepts of statistics

2 Different types of variables, types of data and methods of data collection, Scales of
measurement, data arrangement and presentation

3 Frequency distribution, diagrams and charts

4 Measures of central tendency: mean and mode from grouped and ungrouped data

5 Measures of central tendency: median and quantiles from grouped and ungrouped
data. Merits and demerits of mean, median and mode.
 6 Measures of dispersion: absolute and relative measures of dispersion, computation
of range, variance, standard deviation

7 Measures of dispersion: properties of variance, computation of coefficients of

variation,

8 skewness and kurtosis with practical application

Mid Exams
9 Definition of probability, different terminology used in probability,

10 different laws of probability Addition law and multiplication law (definitions and
numerical questions) Discrete distributions: binomial distribution, applications and
numerical questions

11 Continuous distribution: Normal distribution with their properties, applications and

numerical questions

12 Regression: definition, application and numerical questions

13 Correlation: definitions of positive and negative correlation, numerical questions

14 Properties of simple linear regression model and coefficient of correlation,

numerical questions

Prepare by:

Sr Name Designation Contact

1 Mr. Hafiz Ghulam Ghous Subhani Visiting Lecturer 0302 6019016

2 Mr. Abu Bakar Siddique Visiting Lecturer 0306 8674169