COURSE OUTLINE

Course Name Stats and Maths for Management Prepared On 11th February 2018
Course Code
Credit Hours 3
Course Prereq. Code None Revised On 9th September 2018
Course Type Core Course Elective
Program BBA MBA
st
Semester 1
Instructor: Summaira Haroon
Course Description
The course is designed to give an introduction to concepts and techniques used extensively in public and private business sector
decision-making. The statistical techniques covered in this introductory course are used in functional areas, including:
accounting, finance, marketing, production and personnel management. The course will focus on real data applications, active
learning, quantitative literacy, statistical thinking and the use of statistical software. Students will be introduced into the power
of descriptive statistics methods, probability, and the decision making process in applied business statistics situations. Emphasis
is given to the use of statistical methods used in the decision making process; measures of central location, dispersion, and
shape; and basic cases with realistic business applications.
Course Learning Outcomes
1 To teach the basic concepts of statistics and mathematics.
2 Development of basic statistical and mathematical vocabulary.
3 Help students understand the value of statistics in acquiring knowledge and making decisions in today’s society.

4 Help student become critical and thoughtful consumers of information and able to understand the critical ideas.

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 Teaching & Learning Methodology
 Lectures
 Practice solving questions
 Assignments
 Real world situations analysis
Textbook(s)
1. Applied Mathematics for Business, economics and the social sciences by: Frank S. Budnick, 4th edition
2. Elementary Statistics: A step by step Approach by: Allan G. Bluman 4TH OR 5TH Edition
Reference Book(s)
1. Practical Statistics by Example, using Microsoft Excel & Minitab, 2nd /e, by Sincich / Levin/ Stephan
2. Statistics for Management 6th/e, by Levin & Rubin.
3. Elementary statistics, 8th edition, by Robert Johnsons & Particia Kuby
4. Business Mathematics by Miller/ Salzman/Clendenen, 7th Edition

Research Journals /Papers

Journal of Applied Statistics

Communications in Statistics – Theory and Methods

Magazine Articles/ Published Material

Grading Policy
Assessment Instruments Percentage
Quizzes 15%
Assignments + project 20%
Mid Term Exam 25%
Final Exam 40%

Week-wise Course Outline

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 Activities( Critic Values Addressed

kTeamwor
al Thinking)

Equity
Ethics

Tolerance

Discipline

Prudence
entCommitm

Integrity

Empathy
Contents Case Studies, Learning
Roleplays, Movie Objectives
Clips, Addressed
Introduction To Statistics, After this class student should 
Frequency Distribution Practice questions be able to demonstrate the
And Graphs knowledge of the statistical
terms, able to differentiate
Meaning of statistics,
between the two branches of
descriptive statistics,
statistics. Be able to identify
inferential statistics
the types of data, the
Techniques of data
measurement level for each
collection,
variable. The students should
Variables and types of
be able to organize data using
variables,
frequency distribution.
Sampling and sampling
techniques
Measurement scales.
Construction of frequency
distribution, Ungroup,
categorical and group
frequency distribution.
Histograms, frequency
polygons, ogives, pie chart.

Graphical presentation The student will be able to 

represent data graphically
depending on types of data
sets like discrete or
Histograms,
continuous.
Frequency polygons,
Ogives,

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Pie chart.
Measures of central Practice After completing this topic 
tendency. Questions students will be able to
interpret the data with respect
to the central point of data
Measures of central points, using the measure of central
Mean, tendency, such as mean
Median median and mode.
Mode with group and
ungroup data sets

Measures of position Practice The student will be able to 

Questions identify the position of a data
set using various measures
Quartiles, Decile and such as percentiles, deciles,
percentiles. and quartiles.
Shapes of distribution.
Skewness
Kurtosis

Measures of variation Practice The student will be able to 

Questions identify the variations with
respect to central value of data

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Range or the representative point of
Mean deviation data using the measures of
Quartile deviation Variance variation, such as the range,
Standard deviation variance and standard
deviation.

Correlation Practice After completing this course 

Questions students will be able to
describe the amount and type
of relationship between two
Scatter plots, simple variables. It will help in
correlation, coefficient of identifying whether two
determination, variables are related to each
Standard error of the and how that relationship
estimate, rank correlation, functions--whether it is a
multiple and partial positive or direct relationship
correlation coefficient. or a negative or inverse
relationship. The detection
and measurement of
correlations in both nature and
social science will add to the
knowledge of students and the
physical world.
Practice After completing this topic 
Regression Questions student will be able to
identify regression analysis
as a statistical process for
estimating the relationships
Simple linear regression, among variables. It includes
regression lines, many techniques for
Constructing least square modelling and analysing
regression line several variables, when the
Multiple Regression focus is on the relationship

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 between a dependent variable
and one or more independent
variables (or 'predictors').
Practice With the help of this topic 
Analysis of variance Questions students will be able to
compare more than two
population means and
conclude about the hypothesis
Introduction to analysis of of equality of means of
variance different populations.
One way and two way
analysis of variance
(ANOVA)

Mid term exam

Basic Mathematics Practice After completing this topic 
Questions students come to know about
the Linear equation,
EQUATIONS simulations equations and
Simple equation quadratic equations. They
Simultaneous equations solves about the different
Quadratic Equation equations. Students learn
Graph of algebraic Function about the sketching of graphs,
identifies the coordinates
system of straight lines. And
then draws the linear
equations on graphs.

Differential calculus Practice After completing this topic 

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Derivatives Questions students will by using the
Marginal analysis concept of function
Maxima & Minima derivatives, will be able to
Graphical method study the behaviour of
functions and their rate of
change. Using the process of
differentiation, the graph of a
function can actually be
computed, analysed, and
predicted. Moreover,
converting parabola into a
linear function x2→2x can be
done by the help of
derivatives.
Differential calculus Practice Students will be able to apply 
Questions the derivatives on some of
Application of derivatives economic variables to
on economic variables maximize or minimize the
Maximization of profit situation
Minimization of cost
Random Variable And Practice After studying this topic 
Probability Distribution Questions students will be able to make
Random Variable, Discrete different types of probability
Random Variable, distributions for different
construction of discrete experiments. They will be
probability distribution. Its able to calculate the average,
mean and variance variance and standard
deviation of the constructed
frequency distribution.
Probability Distributions Practice With the help of these 
Binomial distribution Questions methods students will be able
Poisson distribution to identify different situations
Hyper geometric for finding out the

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 distribution probabilities of different
experiments.
Continuous probability Practice Students will be able to find 
distribution Questions different probabilities for
Normal distribution continuous variables in
different real life situations.
Financial Mathematics Practice After completing this topic 
Interest, Interest Amount, Questions student should be able to
Compound Amount understand about the time
Compound Interest, Present value of money. They will be
Value &Future Value able to calculate the future
value of money with different
levels of interest rates.
They will find future value
with simple interest rate and
with the concept of compound
interest rate.
Revision Discussion

Final Exam

Guidelines – Final Group Projects

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MBA Program Objectives Addressed
Program Objectives  X
1. To produce quality business graduates equipped with relevant knowledge and skills. 
2. To create curious minds and develop intellectual skills to identify and resolve issues as business leaders and managers. 
3. To develop an understanding of the linkages between business and socio-economic development. 
4. To increase the pool of socially responsible individuals as part of Corporate Social Responsibility. 
5. To infuse attitudes for innovation and enhance the creative culture. 
6. To develop and inculcate personality traits through soft skills.