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Introduction to Statistics
This course is aimed at imparting basic knowledge of Statistics to business students. The course will introduce some basic statistical methods which are helpful for decision making in business and economics. The course will start from simple descriptive measures and will goes to prediction technique like regression analysis.
Learning Objectives
After completing this module the students will be enable to:
Differentiate between various types of data encountered in business and management
Present available data in most appropriate form in accordance with objectives of the study
Use common descriptive statistical measures for simple decision making
Understand use of simple probability and random variables in business decision making
Understand the use of well known probability distributions
Use statistical methods for efficient prediction
Understand the methods to forecast
Course Contents
Week 1
Introduction to Statistics
Data and its types
Data Presentation Methods
Grouped and Ungrouped Data
Week 2
Measures of Central Tendency (Mean, Median, Mode and Percentiles)
Week 3
Measures of Dispersion
Introduction to Probability and Counting Rules
Week 4
Events and their types
Addition rule of probability and its application
Week 5
Dependent and independent events
Conditional Probability and its application
Week 6
Sessional-
Week 7
Random variables and their type
Probability distribution of discrete and continuous random variable
Distribution function of discrete random variable
Week 8
Continuous random variable and its probability distribution
Distribution Function of Continuous random variable and its application
Week 9
Mean and Variance of random variables
Median and Percentiles of random variables
Week 10
The Binomial Distribution and its application
The Poisson Distribution and its Application
Week 11
Sessional-
The Normal Distribution and its applications
Week 12
Percentiles of Normal Distribution and their use in business
The Correlation Coefficient and its use
Week 13
Simple Linear Regression
Application of Simple Linear Regression in business predications
Week 14
The Time Series and its use in business
Components of Time Series and their estimation
Forecasting using Time Series
Week 15
Index numbers and their use in business
Various Index number types and their computations
Week 16
Use of SPSS for Statistical Analysis
Assignment 1 Due Date: 20-
Assignment 2
Assignment 3
Assignment 4
Case Studies
Employee Database
Quiz
Quiz 1
Books
Anderson DR, Sweeney DJ, Williams TA (2005). Statistics for Business and Economics. 9th Edition. Cengage Learning, EMEA.
Levine RI, Rubin DS (1997). Statistics for Management. 7th Edition. Prentice Hall. New Jersey, USA.
David. S. Moore and George P. McCabe (2003), Basics of Practice Statistics, Freeman Publishers.
Landau, Sabine. (2004) "A handbook of statistical analyses using SPSS", Chapman & Hall/CRC Press LLC.