Annexure ‘‘AAB-CD-01’

Course Title: STATISTICS FOR MANAGEMENT

L T P/S SW No. of TOTAL CREDIT
Course Code: Q A M 6 0 1 PSDA UNITS

Credit Units: 3 3 - - 0 2 3

Level: PG (*L- Lecture *T – Tutorial *P – Practical *SW – Self work

*FW – Field work *PSDA - Professional Skill Development Activities)

Course Objectives: The objective of this course is to give students, a conceptual introduction to the field of Statistics and its applications and to develop the understanding of various
statistical tools used for decisions making and how each applies to and can be used in the business environment. The focus on interpretation rather than computation develops
competencies that will aid students in their future careers as managers.

Prerequisites: Fundamental understanding and knowledge of pre-calculus algebra, and proficiency with a computer spread sheet program.

Course Contents/Syllabus:

Descriptors/Topics Weightage (%)

1 Module I: Introduction 15%

Descriptors/Topics
1. Statistical thinking and analysis ;
2. Statistics defined; Types of statistical methods - Descriptive and inferential statistics;
Importance and scope of statistics ;.
3. Scales of measurement;
4. Basic statistical concepts: population and sample.

Tabular and Graphical Descriptive Techniques using MS Excel only:

1. Bar chart, Pie Chart, Histogram, Frequency Polygon, Ogive, Pareto Chart.
2. Stem-and-leaf display, Cross tabulations, Scatter plot and Trend line.

Numerical Measures
1. Arithmetic Mean, Median and Mode.
2. Partition Values- Quartiles, and percentiles.
3. Measures of Variability: Range, IQR; Variance, Standard Deviation, Coefficient of
variation.
Use of MS Excel for Numerical Measures
2 Module II: Probability and Probability Distributions 20%

Descriptors/Topics
1. Types of events and Algebra of events. Assigning probability to events;
2. Joint, Marginal and Conditional Probability.
3. Probability Rules; complement Rule, Multiplication Rule, Addition Rule, Bayes’ Theorem.

Probability Distributions:
1. Mean or Expected value of random variable.
2. Variance and Standard Deviation of random variables.
3. Binomial Probability Distribution, Poisson Probability Distribution and Normal Probability
Distribution.
 4. Using MS Excel for computation of Binomial, Poisson and Normal probabilities.
3 Module III : Sampling, Sampling Distribution and Estimation 15%
Descriptors/Topics
1. Sampling: Basic Concepts, Types of Sampling and Non-Sampling Errors and Precautions,
2. Central Limit Theorem,
3. Sampling Distribution of the mean, Sampling distribution of proportion.
4. Estimation: Types Estimates, Using z Statistic for estimating population mean,
5. Confidence interval for estimating population mean when population SD is unknown,
6. Estimating population mean using t Statistic (small sample case), and Confidence interval
estimation for population proportion.
7. Using MS Excel for confidence interval construction.
4 Module IV: Hypothesis Testing 25%
Descriptors/Topics
Fundamental Concepts of Hypothesis Testing:
1. Developing null and alternate hypothesis,
2. Hypothesis testing procedure, the critical value of the test statistic, regions and rejection and
non-rejection,
3. Type I error and Type II error,
4. Level of significance,
5. The confidence coefficient, The power of a test,
6. The p-value approach to hypothesis testing.

Inference about a Population:

1. For single population mean using z-statistic, for single population mean using t-statistic,
hypothesis testing for population proportion.

Inference about Comparing Two Populations:

1. Inference about the difference between two population means –
2. Independent samples and Matched Samples,
3. Inference about the difference between two population proportions, Inference about the ratio
of two population variances.

Analysis of Variance (Analysis and Interpretation of MS Excel Output Only, no

numerical using manual calculation):
1. Testing for equality of k- population means,

Chi-Squared Tests:
1. Chi-squared goodness of fit test for mean, and test of independence. Using MS Excel for
Chi-squared test.
 5 Module V : Forecasting Techniques 25%
Descriptors/Topics
1. Measures of Linear Relationship: covariance, coefficient of correlation, Simple linear
regression calculation of regression coefficients.
2. Regression (Simple and Multiple): Model, Estimating the coefficient using least
squares method. Assessing the
Model (Analysis and Interpretation of Excel Output only, no numerical using manual
calculation for multiple regression);
3. Standard Error of Estimate, Coefficient of determination,
Time Series Analysis:
 Variation in Time Series, Numerical application of trend analysis only.

Course Learning Outcomes: On completion of the course the student will be able to:

1. Arrange and describe information using numerical and graphical procedures.

2. Compute descriptive statistical measures to business situations.
3. Compute and apply probability distributions to model different types of business processes.
4. Perform Test of Hypothesis as well as calculate confidence interval for a population parameter for single sample and two sample cases.
5. Learn non-parametric test such as the Chi-Square test for Independence as well as Goodness of Fit.
6. Understand and apply forecasting techniques for business decision making and to uncover relationships between variables to produce forecasts of the future values of strategic variables

Mapping of Course learning outcomes (CLOs) with Graduate Attributes (GA).

Course Learning Outcomes CLO1 CLO2 CLO3 CLO4 CLO5 CLO6

Graduate Attributes

√ √ √ √ √ √
Knowledge and Expertise of Business Environment and Management
√ √ √ √
Continuous and Experiential Learning
√ √ √ √ √
Research and Enquiry
√ √
Information and Disruptive Technology Skills

Critical thinking and Problem-Solving Abilities √ √ √ √ √

Effective Business Communication and Negotiation Skill

Creativity, Innovation & Reflective Thinking √ √ √ √
√ √ √ √ √
Analytical & Decision-Making Ability

√
Leadership and Behaviour Skills

Multicultural Understanding and Global Managers

Ethics and Professional Conduct

Social Networking Skills & Emotional intelligence

√ √ √ √
Employability and Entrepreneurship
 Lifelong Learning √ √ √ √

Environment and sustainability

Pedagogy for Course Delivery: The course pedagogy will include lectures, numerical practice and discussion on numerical applications of the topics covered.

PSDA:
1. Prepare project report using secondary data through Statistical Software.
2. Conduct survey use appropriate statistical technique for data analysis.

Assessment/ Examination Scheme:

Theory L/T (%) Lab/Practical/Studio (%)

100% NA

Theory Assessment (L&T):

End Term
Continuous Assessment/Internal Assessment
Examination

50% 50%

Presentation Home
Components Mid Term Project Attendance
Assignment

Linkage of PSDA with Internal Assessment Component PSDA 1 PSDA 2

Weightage (%) 15% 10% 10% 10% 5% 50%

 Mapping Continuous Evaluation components/PSDA with CLOs
Bloom’s Level Remembering Applying Analysing Evaluating Creating
> &
Understanding
Course Rememberin Applying Analyzin Evaluating Creating
Learning g and Statistical g and statistical
Outcomes understandin techniques computed assessing models for
g statistical (with or results to business forecasting
definition, without better data for
Assessment
type/PSDA
formula and MS decision drawing
concepts. Excel) to making. inferences.
solve
business
problem.

Mid-Term    
Project/ PSDA     
1
    
Presentation/
PSDA 2
Home     
Assignment (one
must be from
Regression)

Text Reading:
 Keller, Gerald (2018), Statistics for Management and Economics, Cengage Learning.
 Sharma, J.K. (2020), Business Statistics, Pearson Education India.
 Anderson D.R; Sweeny D.J, Williams T.A (2019), Statistics for Business and Economics, Cengage learning.
 Srivatsava T.N., Shailaja Rego (2017), Statistics for Management, Tata McGraw Hill.
 Anand Sharma (2017), Statistics for Management, Himalaya Publishing House.

References:
 Levin Richard I., Rubin David S., Siddiqui M.H., & Rastogi S., (2017), Statistics for Management, Pearson Education India
 Stephen .K.C. (2012), Applied Business Statistics: Text, Problems and Cases. New York: Harper and Row.
 Ken Black (2012), Business Statistics, Wiley Publication
 Aczel A.D. and Sounderpandian J., Complete Business Statistics, 6th edition, Tata McGraw – Hill, 2004.
 Prem. S. Mann, Introductory Statistics, Wiley Publications, 9th Edition, 2015.
 Business Statistics, a Decision-Making Approach, 6th ed., David Groebner, P. Shannon, P. Fry, K. Smith, Prentice Hall, NJ, 2005, ISBN: 0130477850
 N.D. Vohra, Business Statistics, Tata McGraw – Hill, 2017.

Any other Study Material: To be decided in the class.