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# Lal Bahadur Shastri Institute of Management

## Course Code: 111401 Course Title: Quantitative Methods for Management

Session: 2017-18 Trimester: I

Facilitators: Dr.Shivani Bali/ Dr. Sandhya Makkar/ Dr. Raj Kumari Mittal

Objectives

The primary objective of this course is to make the students familiar with basic statistical tools
and techniques. These techniques assist specially in resolving complex problems serve as a
valuable guide to the decision makers.

## 1. Develop understanding of the basic concepts underlying quantitative analysis.

2. Strengthen the ability to frame and formulate management decision problems.
3. Deepen the ability to interpret and evaluate results of quantitative analysis.
4. Cultivate the sound use of judgment in the applications of quantitative methods to
management decisions.

COURSE CONTENTS

## Module Session Topic & Reading/s

No. No./s
I 1 -2 Introduction to Quantitative Methods with emphasis on Statistics: Statistics in
business, Importance and Functions of Statistics, Types of Data, Data Measurement.

## Case: DiGiorno Pizza: Introducing a Frozen Pizza to Compete with Carry

Out, , Ken Black (7 e), Chapter - 1.

## Descriptive Statistics: Tabular and Graphical Presentation: Summarizing

Qualitative Data, Summarizing Quantitative Data, Scatter Diagrams.

Case: Soap Companies do Battle, Chapter 2, pp. 48-49. Black Ken (2015).
Applied Business Statistics (7 ed.). Wiley

o Black Ken (2015). Applied Business Statistics (7 ed.). Wiley,
Chapter1 & 2
o Anderson D.R., Sweeny D.J., Williams T.A. (2012). Statistics for
Business and Economics (11 e). Cengage Learning Publication.
Chapter1 & 2

## II 34 Describing Data through Statistics Measures of Central Tendency : Ungrouped

Data, Measures of Variability: Ungrouped Data, Measures of Central Tendency and
Variability: Grouped Data, Measures of Shape.

## Descriptive Statistics using software

Cases: Pelican Stores, Anderson D.R., Sweeny D.J., Williams T.A. (2012).
Statistics for Business and Economics (11 e). Chapter 3, pp. 132, Cengage Learning
Publication.

o Black Ken (2015). Applied Business Statistics (7 ed.). Wiley,
Chapter 3
o Anderson D.R., Sweeny D.J., Williams T.A. (2012). Statistics for
Business and Economics (11 e). Cengage Learning Publication.
Chapter 3

III 5-6 Probability: Concepts of Probability, Experiments and Sample Space, Assigning
probabilities to Experimental Outcomes, Events and their Probabilities, Some basic
Relationships of Probability, Conditional Probability, Bayes Theorem.

Cases: Gender Equity in the Workplace, Chapter 4, pp. 99 Black Ken (2015).

o Black Ken (2015). Applied Business Statistics (7 ed.). Wiley,
Chapter 4
o Anderson D.R., Sweeny D.J., Williams T.A. (2012). Statistics for
Business and Economics (11 e). Cengage Learning Publication.
Chapter 4

## IV 7-8 Discrete Probability Distributions: Random Variables, Discrete Random

Variables, Binomial Probability Distribution, Poisson probability Distribution.

## Continuous Probability Distributions: Continuous Random Variables, Normal

Probability Distribution, Exponential Probability Distribution

## Using software to solve the above Probability Distributions

Case: RIMS Greatest Success The Blackberry, Chapter 5, pp. 181. Black Ken
(2015). Applied Business Statistics (7 ed.).
o Black Ken (2015). Applied Business Statistics (7 ed.). Wiley,
Chapter 5 & 6
o Anderson D.R., Sweeny D.J., Williams T.A. (2012). Statistics for
Business and Economics (11 e). Cengage Learning Publication.
Chapter 5 & 6
V 9 Sampling and Sampling Distributions: Reasons for sampling, Sampling Frame,
Random Versus Non-Random Sampling, Random Sampling Methods, Non-Random
Sampling, Sampling Distribution, Central Limit Theorem, Sample distribution of
Sample Proportion p

o Black Ken (2015). Applied Business Statistics (7 ed.). Wiley,
Chapter 7
o Anderson D.R., Sweeny D.J., Williams T.A. (2012). Statistics for
Business and Economics (11 e). Cengage Learning Publication.
Chapter 7
VI 10 Estimating Parameters for Single Populations : Types of Estimates, Using the z
Statistic for Estimating population Mean, Confidence Interval for Estimating
Population Mean when is Unknown, Estimating Population Mean Using the t
Statistic.

## Using Computer software for Estimation

Case: Compensation for Purchasing Managers, Chapter 8, pp. 257. Black Ken
(2015). Applied Business Statistics (7 ed.).

o Black Ken (2015). Applied Business Statistics (7 ed.). Wiley,
Chapter 8
o Anderson D.R., Sweeny D.J., Williams T.A. (2012). Statistics
for Business and Economics (11 e). Cengage Learning
Publication. Chapter 8
VII 11-12 Statistical Inference: Hypothesis Testing for Two Populations: Hypotheses
Testing for the Difference Between Two Population Means Using the z Statistic,
Hypotheses Testing for the Difference Between Two Population Means Using the z
Statistic, Statistical Inference About the Difference Between, The Means of two
Related Populations (Matched Samples)

## Using Computer software for Estimation

Case: The Internets Impact on Marketing, Chapter 10, pp. 403. Black Ken
(2015). Applied Business Statistics (7 ed.).

o Black Ken (2015). Applied Business Statistics (7 ed.). Wiley,
Chapter 10
o Anderson D.R., Sweeny D.J., Williams T.A. (2012). Statistics
for Business and Economics (11 e). Cengage Learning
Publication. Chapter 10
VIII 13-14 Analysis of Variance (ANOVA) and Goodness of Fit: Hypothesis Testing About
Two Population Variances (F Distribution), ANOVA Assumptions, ANOVA Test,
One-Way ANOVA
Using Computer software for ANOVA

Case: Wentworth Medical Center, Chapter 13, pp. 536, Anderson D.R., Sweeny
D.J., Williams T.A. (2012). Statistics for Business and Economics (11 e). Cengage
Learning Publication.

o Black Ken (2015). Applied Business Statistics (7 ed.). Wiley,
Chapter 11
o Anderson D.R., Sweeny D.J., Williams T.A. (2012). Statistics
for Business and Economics (11 e). Cengage Learning
Publication. Chapter 13
IX 15-18 Linear Regression and Correlation Analysis: The Coefficient of Correlation,
The Coefficient of Determination, Testing the significance of Correlation Coefficient,
Simple Linear Regression, Determining the Equation of a Regression Line, The
Standard Error of Estimate, Assumptions Underlying Linear Regression

## Using Computer software for Regression Analysis

Case: Measuring Stock Market Risk, Chapter 14, pp. 614, Anderson D.R.,
Sweeny D.J., Williams T.A. (2012). Statistics for Business and Economics (11 e).
Cengage Learning Publication.

1. Black Ken (2015). Applied Business Statistics (7 ed.). Wiley, Chapter 12
2. Anderson D.R., Sweeny D.J., Williams T.A. (2012). Statistics for Business
and Economics (11 e). Cengage Learning Publication. Chapter 14
X 19-20 Live Project Presentations

Reference Books:

## Black Ken (2015). Applied Business Statistics (7 ed.). Wiley

Anderson D.R., Sweeny D.J., Williams T.A. (2012). Statistics for Business and
Economics (11 e). Cengage Learning Publication.
Bajpai N. (2013). Business Statistics. Pearson Publication.
Newbold P., Carlson W.L., Throne B (2013). Statistics for Business and Economics
(6 ed.), Pearson Publication.
Levin R.I., Rubin D.S., Rastogi S., siddiqui M.H.(2016). Statistics for Management
(7 ed.), Pearson Publication.

Pedagogy

Evaluation:

## Mid-term Test 20 marks

End Term Examination: 40 marks
Internal Assessment: 40 marks

Internal Evaluation

## *Case Discussions & Presentation : 10 marks

*Term Project : 10 marks
Quiz : 10 marks
Assignment : 10 marks
*Includes marks for active class participation during case and project presentations