Course Curriculam

Course Code: QAM601 Credit Units L T P/S SW AS/DS FW No. of PSDA Total Credit Unit
Course Level PG 3 0 0 0 0 0 0 3
Course Title Statistics for Management

Course This course provides a framework for data analyzing and organizing in a logical and systematic way. It will enable future managers to make
Description : quick decisions when a dearth of data will be available with them and will make them a stable leader in their respective domain.

Course Objectives :

SN
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
1 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.

Pre-Requisites : General

SN. Course Code Course Name

Course Contents / Syllabus :

SN. Module Descriptors / Topics Weightage

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,
Module I:
1 Frequency Polygon, Ogive, Pareto Chart. 2. Stem-and-leaf display, Cross tabulations, Scatter plot and Trend line. 15.00
Introduction
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
Module II: 1. Types of events and Algebra of events. Assigning probability to events; 2. Joint, Marginal and Conditional
Probability Probability. 3. Probability Rules; complement Rule, Multiplication Rule, Addition Rule, Bayes’ Theorem. Probability
2 and Distributions: 1. Mean or Expected value of random variable. 2. Variance and Standard Deviation of random 20.00
Probability variables. 3. Binomial Probability Distribution, Poisson Probability Distribution and Normal Probability Distribution. 4.
Distributions Using MS Excel for computation of Binomial, Poisson and Normal probabilities.
Module III :
1. Sampling: Basic Concepts, Types of Sampling and Non-Sampling Errors and Precautions, 2. Central Limit
Sampling,
Theorem, 3. Sampling Distribution of the mean, Sampling distribution of proportion. 4. Estimation: Types Estimates,
Sampling
3 Using z Statistic for estimating population mean, 5. Confidence interval for estimating population mean when 15.00
Distribution
population SD is unknown, 6. Estimating population mean using t Statistic (small sample case), and Confidence
and
interval estimation for population proportion. 7. Using MS Excel for confidence interval construction.
Estimation
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
Module IV:
mean using t-statistic, hypothesis testing for population proportion. Inference about Comparing Two Populations: 1.
4 Hypothesis 25.00
Inference about the difference between two population means – 2. Independent samples and Matched Samples, 3.
Testing
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.
1. Measures of Linear Relationship: covariance, coefficient of correlation, Simple linear regression calculation of
Module V : regression coefficients. 2. Regression (Simple and Multiple): Model, Estimating the coefficient using least squares
5 Forecasting method. Assessing the Model (Analysis and Interpretation of Excel Output only, no numerical using manual 25.00
Techniques 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 :

SN. Course Learning Outcomes

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.
Students will be able to work on multidisciplinary/interdisciplinary projects through forecasting and prediction techniques for business decision
6
making and to uncover relationships between variables to produce forecasts of the future values of strategic variables.

Pedagogy for Course Delivery :

SN. Pedagogy Methods

1 The course pedagogy will include lectures, numerical practice and discussion on numerical applications of the topics covered.

Theory /VAC / Architecture Assessment (L,T & Self Work): 100.00 Max : 100

Attendance+CE+EE : 5+45+50

SN. Type Component Name Marks

1 Attendance 5.00
2 End Term Examination (OMR) 50.00
3 Internal MID TERM EXAM 15.00
4 Internal HOME ASSIGNMENT 5.00
5 Internal INTEGRATED PROJECT 20.00
6 Internal CASE STUDY 5.00

Lab/ Practical/ Studio/Arch. Studio/ Field Work Assessment : 0.00 Max : 100

N/A

List of Professional skill development activities :

No.of PSDA : 2
SN. PSDA Point
1 Prepare project report using secondary data through Statistical Software.
2 Developing research-based projects on integrated multi-disciplinary/interdisciplinary models using statistical methods.

Text & References :

SN. Type Title/Name Description ISBN/ URL
Keller, Gerald (2018), Statistics for
1 Book Management and Economics, Cengage
Learning.
Sharma, J.K. (2020), Business Statistics,
2 Book
Pearson Education India.
Anderson D.R; Sweeny D.J, Williams T.A
3 Book (2019), Statistics for Business and
Economics, Cengage lear
Srivatsava T.N., Shailaja Rego (2017),
4 Book Statistics for Management, Tata McGraw
Hill.
Anand Sharma (2017), Statistics for
5 Book
Management, Himalaya Publishing House.
Levin Richard I., Rubin David S., Siddiqui
6 Book M.H., & Rastogi S., (2017), Statistics for
Management,
Stephen .K.C. (2012), Applied Business
7 Book Statistics: Text, Problems and Cases. New
York: Harper and
Ken Black (2012), Business Statistics,
8 Book
Wiley Publication
Aczel A.D. and Sounderpandian J.,
9 Book Complete Business Statistics, 6th edition,
Tata McGraw – Hill, 2
Prem. S. Mann, Introductory Statistics,
10 Book
Wiley Publications, 9th Edition, 2015.
Business Statistics, a Decision-Making
11 Book Approach, 6th ed., David Groebner, P.
Shannon, P. Fry, K. S
N.D. Vohra, Business Statistics, Tata
12 Book
McGraw – Hill, 2017.