Scribd
Upload
43 views

Syllabus - SFM

This 4-credit course aims to develop students' statistical literacy over 6 modules spanning 50 hours. The course objectives are to increase students' awareness of data, impart statistical competence, and develop literacy skills. By the end, students will be able to interpret and communicate statistical information. The course covers topics like measures of central tendency, time series analysis, probability distributions, hypothesis testing, and decision theory. Pedagogy includes case studies from media to explore concepts beyond lectures.

Uploaded by

sinner
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
43 views

Syllabus - SFM

This 4-credit course aims to develop students' statistical literacy over 6 modules spanning 50 hours. The course objectives are to increase students' awareness of data, impart statistical competence, and develop literacy skills. By the end, students will be able to interpret and communicate statistical information. The course covers topics like measures of central tendency, time series analysis, probability distributions, hypothesis testing, and decision theory. Pedagogy includes case studies from media to explore concepts beyond lectures.

Uploaded by

sinner
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 4

1.

4 STATISTICS FOR MANAGEMENT


1. GENERAL INFORMATION

Credits 4

Hours per week 4

2. PERSPECTIVE OF THE COURSE

Statistics education research over the last decade has pointed out the development of statistical
literacy and interpretive skills as a universally recognized goal of instruction (Rumsey, 2002; delMas,
2002). Chance (1997) argued that as instructional goals in statistics courses change emphasizing
statistical literacy skills over procedural calculations, there is need for instructors to accompany
these new goals with more authentic assessment techniques to evaluate progress towards these
goals. This course is designed to adopt Gal’s conception of adult statistical literacy as “the ability to
interpret, critically evaluate, and communicate about statistical information and messages” (Gal,
2002).
Gal’s statistical literacy model comprises two broad interrelated components; namely: (1)
knowledge component which consists of five cognitive elements: literacy skills, statistical
knowledge, mathematical knowledge, context knowledge, and critical questions; and (2)
dispositional component which consists of three related but distinct concepts; namely: critical
stance, beliefs and attitudes.

3. COURSE OBJECTIVES AND OUTCOMES

OBJECTIVES
- To elevate students’ awareness of data in everyday life and prepare them for a
career in today’s age of information.
- To impart to students, an assured level of competence, or understanding, of
the basic ideas, terms, and language of statistics.
- To develop statistical literacy skills in students in order 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.

OUTCOMES

- At the end of this course, students will achieve statistical literacy and will be able
to find ways to move beyond the-what of statistics to the how and why of
statistics.

4. COURSE CONTENT AND STRUCTURE

MODULE ONE 8 HOURS

1 Role of statistics: Applications of statistics in managerial decision-making; Phases of a


statistical study, Presentation of data to convey meaning - Tables, Graphs and
Frequency Distribution

Measures of central tendency: Mean, Median and Mode and their implications,
Measures of Dispersion: Range, Mean deviation, Standard deviation, Coefficient of
Variation, Skewness, Kurtosis

MODULE TWO 12 HOURS

2 Time series analysis: Concept, Additive and Multiplicative models, Components of time
series. Trend analysis: Least Square method, Linear and Non- Linear equations,
Exponential shooting method, Applications in business decision-making.

Index Numbers: Meaning, Types of index numbers, Uses of index numbers,


Construction of Price, Quantity and Volume indices, Fixed base and Chain base
methods

Correlation: Meaning and types of correlation, Karl Pearson and Spearman rank
correlation.

Regression: Meaning, Regression equations and their application


MODULE THREE 10 HOURS

3 Probability: Concept of probability and its uses in business decision-making; Addition


and multiplication theorems; Bayes’Theorem and its applications.

Probability Theoretical Distributions: Concept and application of Binomial; Poisson and


Normal distributions

MODULE FOUR 8 HOURS

4 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, Determining the sample size.

MODULE FIVE 8 HOURS

5 Estimation Theory and Hypothesis Testing: Sampling theory; Formulation of


Hypotheses; Application of Z-test, t-test, F-test and Chi-Square test

Techniques of association of Attributes & Testing

ANOVA one and two way, Design of experiments

MODULE SIX 10 HOURS

6 Chi-square test for single sample standard deviation, Chi-square tests for independence
of attributes and goodness of fit, Sign test for paired data, Rank sum test

Kolmogorov-Smirnov, Test for goodness of fit, comparing two populations

Mann – Whitney U test and Kruskal Wallis test, One sample run test, rank correlation

Decision Theory – Decision under certainty, Decision making under risk (EMV criteria)
and Decision making under uncertainty.
5. PEDAGOGY 6. TEACHING AND LEARNING RESOURCES

Irrespective of where a) www.socr.ucla.edu/


anindividual is involved in
b) www.ats.ucla.edu/stat/seminars/statteach/sites.htm
the chain of statistical
c) www.statsci.org/teaching.html
information, there is a
necessity for a rudimentary d) www.onlinestatbook.com/2/chi_square/Chi_Square.html
understanding of the e) Any Online Newspapers, Journals and Magazines.
concepts and language, a 7. RECOMMENDED READINGS
level of reasoning- the
abilities to question, ESSENTIAL READINGS
compare, and explain and a
1. T N Srivastava, Shailaja Rego, Statistics for Management,
level of statistical thinking-
applying the ideas to new Tata McGrawhill, Latest edition.

problems and identifying 2. S P Gupta, Statistical Methods, Sultan Chand & Sons, Latest edn.
new questions. Towards
3. Glynn Davis and BrankoPecar, Business Statistics using Excel.
this end, case studies will be
Oxford University press, 2010
extracted from Newspapers
and Magazines regarding 4. J. K. Sharma, Fundamentals of Business Statistics,
daily life and explored. 2nd Edition, Vikas Publication, 2014.
These case studies will be in
REFERENCE
addition to the actual
teaching hours expended in 1. SC Gupta, Fundamentals of Statistics, Himalaya Publications.2013.
imparting statistical
2. N.D. Vohra, Business Statistics, Tata McGrawHill, 2013
methods.

You might also like