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Area: Operations Management Subject Description: Business Statistics

Subject Code Subject Title Credit Value Level Pre-requisite/ Co-requisite/ Exclusion Role and Purposes Business Statistics 3 First year PGDM Program Basic understanding of statistics and management practices

This course contributes to the achievement of 2 sub goals of PGDM Program. In doing so the subject provides students with the understanding of statistical skills necessary to meet the needs of business and the real-world decision-making problems. In this course, we discuss real-world applications as a motivation for learning business statistics. We will focus on decision making and business applications and provide students with an understanding of the roll of business statistics in decision making. To critically analyse situations for forward thinking and business sustainability (Outcome 3.1, 2) following learning objectives are formulated: a. Present and/or interpret data in tables and charts. b. Understand and apply descriptive statistical measures to business situations. c. Understand and apply probability distributions to model different types of uncertainty. (outcome 2 ) d. Understand and apply statistical inference techniques (including statistical estimation and hypothesis testing) in business situations. e. Understand and apply simple linear regression analysis f. Use MS Excel and SPSS to perform statistical analysis on data.

Subject Learning Outcomes

Subject Synopsis/ Indicative Syllabus

Business Statistics: Session 1, 2 Application of Dispersion, Skewness, Kurtosis Chapter 3 -page 91-96 from text book Session 3, 4 Probability with Bayes Theorem Page 171-175 Session 5, 6 Binomial and Poisson Distribution Page 187-203

Session7,8 Normal and Exponential Distribution Examples: Exchange rates, Service time Page 225-246 Session 9, 10 Sampling Technique and Distribution Page 260-280 Session 11 Statistical Inference: Estimation for single population Chapter-8, Page 301-320 Session 12 Statistical Inference: Hypothesis Testing for single population Example: Opinion polls and censuses, Marketing surveys, Quality control sampling Chapter 9, Page 338-376 + case Session 13 Statistical Inference about two populations Page 395-416 Session 14, 15 Anova(one way)with Tukeys Test ANOVA(two ways)(Randomized Block design) Chapter 13, Page 490-517 Session 16, 17 Correlation and covariance, Causalty and inference, Building and evaluating simple linear regression models Examples: Sales and advertising analysis, regression in the CAPM model Page 544-599 + case Session 18 Multiple regression models, Specification issues:residual analysis, Forecasting with regression models. Examples: Salary discrination, forecasting revenues for investment decision Page 625-644 Session 19, 20 Chi_Square (Test of Independence & Proportion) Page 458-471 The course will be primarily based on interactive lectures, discussions and class exercises. Teaching/ Usually doing things is taught through practice, and a course with these objectives Learning Methodology should be loaded with problems and examples that students can use to practice application of the concepts that they are learning. Case studies and exercises will also be extensively used in the class to illustrate concepts and practices and to help students develop the necessary skills required for a manager. A number of sessions will also be conducted in workshop mode where we will be using Microsoft Excel and SPSS techniques for this

purpose.

Assessment Methods in Alignment with Intended Learning Outcomes

Specific assessment methods/ tasks Continuous assessment (group project, quiz, class participation) GROUP Major group project 10 Group presentation 5 INDIVIDUAL Quiz 20 End term 60 Class participation 5 Total

% weighting 40%

Intended subject learning outcomes to be assessed (Please as appropriate) e a b c d f

15

85

100%

Student Study Effort Expected

Explanation of the appropriateness of the assessment methods in assessing the intended learning outcomes: the various methods are designed to ensure that all students taking this subject: Analyse the issues and concepts which are presented in the lectures Read relevant chapters of the recommended textbook and other learning material including research journal articles, cases, newspaper reports, industry reports etc. Undertake analytical thinking through the understanding of the data and its interpretation as per the companys specific requirements. Class Contact: 25 Hrs Lectures 22.5 Hrs. Student group project presentation 2.5 Hrs 5 Hrs Contact/Meeting hours Other student study effort: Preparation for discussion 5 Hrs. Preparation for Project/assignment/tests 10 Hrs.

Reading List and References

Text Books: 1. Statistics for Business and Economics: By Anderson, Sweeney, and Williams; CENGAGE Learning, 11e Reference Books 1. Business Statistics a First Course: By David M Levine, Timothy C Krehbiel, Mark L Berenson, and P K Viswanathan,5e 2. Business Statistics for Contemporary Decision Making: By Ken Black, Wiley India,4e 3. Applied Statistics in Business Economics: By David P Doane and Lori E Seward;Tata McGraw-Hill 4. Statistics for Business Decision Making and Analysis: ByRobert E Stine and Dean Foster, Pearson Education