Course Outline

Dr. Gaur Hari Singhania Institute of Management and Research, Kanpur

Quantitative Techniques-I (T-102)
Trimester 1st – PGDM – Batch 2023-25
30 hours duration, 30 lectures

Faculty: Dr Manoj Kr Srivastava

Text Book: Business Statistics for Contemporary Decision- Making
Author: Ken Black,
Indian Adoption by: Sanjeet Singh
Publisher: Wiley
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A. Introduction
In this course, we will explore the fundamental concepts and techniques of statistics as they apply to the field of
business. Statistics plays a crucial role in decision-making, problem-solving, and understanding data in the business
world. By studying this course, you will gain the necessary knowledge and skills to analyze and interpret data, make
informed business decisions, and communicate your findings effectively.

Course Objectives
1. To understand the role of statistics in business decision-making processes.
2. To acquire the skills to collect, organize, and summarize data.
3. To gain proficiency in using statistical tools for data analysis.
4. To relate descriptive statistics and probability theory as foundation for statistical inferences
5. To Communicate statistical results clearly and effectively to stakeholders.

Course Outcome:Students will be able to:

 Gain fundamental concepts of descriptive statistics and probability
 Understand various measures of central tendency, variability
 Apply statistical techniques to present and summarize data
 Analyze data on the basis of various statistical measures

B. Teaching Pedagogy

Class room lectures, presentations, hand-on exercise on practice data sets, use of excel, Numerical problem solving

C. Detailed Session Plan

Session Topic & Contents Outcomes and activity

No. Details
Introduction This session will throw light on the basic
philosophy of management, business management
1
and need of studying quantitative techniques,
statistics, overview of syllabus

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 Course Outline
Unit 1 Basic statistical concepts-
definition, need, variables, Data Discussion on population, sample, meaning of
Measurement statistics and parameter, definition of variables,
2
numerical and categorical variables, data
measurement-nominal, ordinal, interval, ratio
organizing and visualizing data- Discussion on various forms of data-Discrete series,
3 tabulation, arranged series, frequency distribution, class
interval, cumulative frequency, relative frequency
Charts and Graphs: Graphical Discussion on qualitative data graphs- pie charts,
4 depiction of data uni-variate bar graphs, pareto charts, demonstration using
excel
Charts and Graphs: Graphical Discussion on quantitative data graphs- histogram,
5 depiction of data uni-variate frequency polygon, ogives, dot plots, stem and leaf
plot, demonstration using excel
Charts and Graphs, tabulation and Contingency table, scatter plot,

6 Graphical depiction of data bi-

variate

Unit 2 Descriptive Statistics

7 Measure of central tendency Discussion with numerical examples on mean

8 Measure of central tendency Discussion with numerical examples on median

Measure of central tendency Discussion with numerical examples on mode,

9
percentiles and quartiles
measure of variability Discussion with numerical examples on range,
10 interquartile range, variance and standard
deviation
measure of variability, Chebyshev’s Calculation of variance and standard deviation,
11 theorem coefficient of variation, discussion on Chebyshev’s
theorem
measures of shape-skewness and Discussion on the meaning of skewness,
kurtosis, box-and-whisker plots relationship with mean median and mode,
12 meaning of kurtosis, box-and-whisker plots and
and five-number summary five-number summary

Unit 3 Probability
introduction, structure Discussion on meaning of probability, methods of
assigning probability, structure of probability-
13 experiment, event, mutually exclusive and
exhaustive events, independent events, sample
space, union, intersection, conditional probability
marginal, union, joint and Discussion with numerical problems
14
conditional probability,
marginal, union, joint and Discussion with numerical problems
15
conditional probability,
16 addition and multiplication laws, Discussion with numerical problems
Bayes’ theorem Meaning and statement of Bayes Theorem,
17
Discussion with numerical problems
18 Decision Analysis: decision making Overview of decision analysis, decision table
under certainty, uncertainty, and

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 Course Outline
risk
Structuring the decision problem: Discussion on various criteria of decision making
19 Actions, states of nature, payoffs, under uncertainty and risk, numerical on different
prior probabilities criteria
expected value of perfect Numerical examples
20 information

Unit 4 Probability Distributions

Random variables, Discrete Discussion on meaning of random variables,
distributions- Binomial discrete and continuous random variable, binomial
21 distribution, parameters, mean, variance standard
deviation of binomial distribution, obtaining
binomial distribution using excel
22 Discrete distributions- Binomial Numerical on binomial distribution,
Discrete distributions- Discussion on meaning of Poisson and
Poisson,hyper-geometric hypergeometric,obtaining Poisson distribution
23
using excel

24 Discrete distributions- Poisson Numerical on Poisson distribution

Continuous distributions- Normal Explaining continuous distribution, discrete vs

(Gaussian), Uniform & Exponential continuous distribution, exponential, uniform
25 distribution, its mean and variance, normal
densities distribution, standard normal distribution,
Continuousdistributions properties, Numerical on normal distribution
26 interrelationships & applications
Sampling and sampling
Unit 5
distribution-
population and sample, reason for Explaining population vs sample, census, reason for
sampling, sampling and non- sampling, sampling and non-sampling errors
27
sampling errors
characteristics of a good sample, Discussion on criteria of good samples and various
28 random and non-random sampling techniques
Random and non random sampling
Sampling distributions, central limit Discussion on Sampling distribution of mean,
29 theorem standard error sample proportions, central limit
theorem
Statistical Inference- Basic notions Explaining the meaning and need of inferential
of statistical inference etc as a statistics, summary of inferential statistical tools
30 bridge to QT II

D. Evaluation Details
 Evaluation in the course shall be out of 100 marks, Internal Evaluation, and End-trimester exam.
 The end-term exam shall be of 60 marks. It will be done in lab on test data set.
 Internal Evaluation shall be done out of 40 marks. It is based on the student’s performance in Assignment, lab
Test, Classroom Participation. The marks assigned for each activity are as follows:

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 Course Outline
 Classroom Participation = 10 marks
 Assignment = 20 marks
 Class Test = 30 marks
Total 60 marks

E. Reference Books
1. Business Statistics, Nag, A., Pearson
2. Quantitative Techniques, Tulsian, P.C., Pearson
3. Business Statistics and Analysis, Sharma, U N, Excel Books

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