Business Statistics Course Guide
Business Statistics Course Guide
Name of College/Faculty:
To familiarize students about the use & application of various statistical tools in the
field of financial decision making
To enable students make valid inference from data
To enable students to construct and test different types of hypothesis
To enable students to find correlation between variables
How to apply the statistical tests in the preparation of Research report.
To enable students appreciate the application of statistics in every areas of
activities in business and industry such as production, financial analysis,
distribution, market research, manpower planning.
Course Description The use of statistical knowledge in the field of business aid dated many years back. In
recent years, an understanding of statistical methods, techniques, and the skills to make
use of them had widely been recognized more than before. It is essential for anyone
making business decisions on the basis of data to possess a clear understanding of
statistics.
Among other, the vast and fast changing technological, financial and economic setting has
necessitated an organized use and extensive application of statistical tools to business
decision making. Statistics has proved useful in many ways. Such as in establishing
relationship, making predications, and providing solution to the many problems of
business operations and managerial decision Statistics is widely applied in production
and quality control, marketing research, manpower planning, finance, etc.
WEEKS
2 WEEKS 1. Statistics Refresher
1.1. Introduction
{1ST&2ND } 1.1.1. Definition
1.1.2. Areas (types) of statistics: Descriptive, Inferential
1.1.3. Importance (uses) of statistics
1.2. Descriptive Statistics (Independent Review)
1.2.1. Statistical data (meaning, types, sources, processing and
methods of obtaining data)
1.2.2. Organization of descriptive data (tabular presentation;
frequency distribution, graphical presentation;
histogram, bar graphs, pie charts, the frequency
polygon, the give.)
1.2.3. Summarizing data
1.2.4. Measures of location or central tendency: the arithmetic
mean, the median, the mode.
1.2.5. Measures of dispersion or variation: the range,
percentiles, the variance and standard deviation, the
coefficient of variation, skew ness.
2 WEEKS 2. Sampling & Sampling Distributions
2.1. Sampling Theory
{5TH&6TH } 2.1.1. Basic Definitions
2.1.2. The need for samples
2.1.3. Designing and conducting a sampling study
2.1.4. Bias and errors in sampling, non-sampling errors
2.1.5. Types of samples- random and non-random samples
Work load in hours Test 1 Test 2 Test 3 Quiz1 Assignment 1 Final Total
Text and reference books The success of this course depends on the students’ individual and collective contribution
to the class discussions. Students are expected to participate voluntarily, or will be called
upon, to contribute to set exercises and problems. Students are also expected to read the
assigned readings and prepare the cases before each class so that they could contribute
effectively to class discussions. Students must attempt assignments by their own.
Proficiency in this course comes from individual knowledge and understanding. Copying
the works of others is considered as serious offence and leads to disciplinary actions.