BS Course Outline 2015 _FT

7/23/2019 BS Course Outline 2015 _FT

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Post-Graduate Diploma in Management-Full Time

(PGDM-FT)

Area: Operations Management

Course Title Business Statistics (BS)

Course Faculty:

Name: Dr. Gunjan MalhotraContact: Room No. 53 (Faculty wing 9)Email: [email protected]

Mob. +91 93138 03668 , Office: +120 3002245

Student Meeting Hour: Friday 2p.m.-4p.m. or with prior appointments

Name: Dr. Ajay Kumar Chauhan

Contact:

Email:

Mob. , Office:

Student Meeting Hour:

Contact:

Email:

Mob. , Office:

Student Meeting Hour:


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Course Description:

This course is designed to achieve solutions for the real-world decision-making problems. In thiscourse, 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 role of Data analysis and statistical inferences in business decision-making.However if a particular concept feels especially difficult or confusing, you might want to review

the relevant section in the text book as well.

Learning Objectives:The broad objectives of this course leading to achievement of sub-goal 1.1 are:

a. Decide on the appropriate statistical tool to solve the business problems.

b. Use appropriate statistical techniques in business decision making.

c. To understand, analyse and interpret statistical inference techniques (including statistical

estimation and hypothesis testing, regression analysis, etc.) in business situations using

SPSS software. (1.1)

d. Use MS Excel and SPSS version 20 (Statistical Packages for Social Sciences) to perform

statistical analysis on raw data identified.

Pedagogy:

The pedagogy includes a variety of teaching and learning techniques to impart knowledge andskills to students. To develop conceptual and analytical skills, a mix of lectures, experience

sharing, case discussion, illustrative numerical problems, assignments and project shall be

employed. In addition to the reading materials, additional readings and cases will be distributedin the class from time to time. Since students' performance shall be accessed through a

continuous system of quizzes, assignments, presentations and end-term examination, students are

expected to demonstrate active class participation.

Course Requirements:

i. Students are expected to do the required readings before each session in order to enhance

their understanding and add value to class discussion.

ii. For group project the class will be divided into a number of groups by the APO. GroupProject guidelines shall be circulated separately.

iii. The course involves use of MS Excel and SPSS software. Students are expected to bring

their laptops and/or calculator as and when required.


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Evaluation

Students will be evaluated based on multiple methods. The method to be employed along with

their weightage is listed below:

Specific Assessment Method Weightage Intended subject

learning outcome (1.1)

to be assessed

Group Assessment Methods

Group Project Submission,

Presentation

20%

Individual Assessment Methods

Homework Assignment 20%

Quiz * 10% Tool for AACSBassessment*

End-term Exam 50%

*This course is mapped to AACSB AOL-Sub Goal 1.1 Demonstrate technical and analytical capabilities.

Recommended Text Book / Reference Book / Journals / Website

Text Book

Basic Statistics for Business and Economics by Lind, Marchal and Wathen 7th

edition

- McGraw-Hill Education (India) Private Limited.

Reference Books

Statistics for Business and Economics: By Anderson, Sweeney, and Williams; Cengage

Learning, 11e

Business Statistics a First Course: By David M Levine, Timothy C Krehbiel, Mark L

Berenson, and P K Viswanathan,5e

Business Statistics for Contemporary Decision Making: By Ken Black, Wiley India,4e

Applied Statistics in Business Economics: By David P Doane and Lori E Seward, Tata

McGraw-Hill Publication

Statistics for Business Decision Making and Analysis: ByRobert E Stine and Dean Foster,

Pearson Publication

Business Statistics with CD-ROM by Naval Bajpai, Pearson Publication.

Statistics for Management by Levin, Rubin, Rastogi and Sidiqqui 7th

edition, Pearson

Publication


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Journals:

Journal of Business and Economics Statistics

Journal of Statistics Education

Decision Science

International Journal of Forecasting

In addition to above mentioned journals, please keep track of other journals, websites, published

articles and papers on Statistics applications in Business.

Websites: Useful websites to be visited for the course:

www.statistics.com

www.amstat.org

www.Numetrics.com

Course Outline: Session/Module/Reading Material

Sessions 1 & 2:Introduction to Statistics:Understanding of Business Statistics, measures ofCentral tendency, Application of Dispersion, Skewness, KurtosisTopics to be covered: Mean, median, mode, variance, standard deviation, Chebyshevs theorem and

empirical rule, skewness and kurtosis of the distribution

Sessions 1 & 2 (150 minutes)45 minutes 30 minutes 20 minutes 55 minutes

Concept and objective

of business statistics

Importance of statistical

decisions on business,Discussion with industry

examples

Concepts of Mean, median, mode,

variance, standard deviation. Practice

Exercises

Concepts of Chebyshevs

theorem and empirical

rule. Practice Exercises

Distributions:

Skewness and

Kurtosis

MS Excel andSPSS

interpretation of

the concept

Concluding theclass discussion

(5/10 minutes)

Readings:

Textbook chapter 1 & 3: Page 2-12; Page 58-83


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Sessions 3-4:Probability with Bayes Theorem: Probability, sample space, events, additionrule mutually exclusive and not mutually exclusive, multiple rule dependent and independent,conditional probability, Bayes theorem

Sessions 3 & 4 (150 minutes)30 minutes 45 minutes 75 minutes

Probability, samplespace, events, addition

rule mutually exclusive

and not mutuallyexclusive. Practice

Exercise

Multiple rule dependent and independent,conditional probability. Practice Exercise

Bayes theorem and practiceExercise.

Interpretation through MS Excel

Concluding the class discussion(5/10 minutes)

Readings:

Textbook chapter 5

Sessions 5 & 6: Probability Distribution: Discrete probability distribution: Binomial and

Poisson


Review of Concepts,understanding of

probability distribution,

Types of probabilitydistributions,

Concept of Binomial Distribution andits business applications

Solving illustrative quantitative

problems

Review of Binomialdistribution, concept of

Poisson distribution and

how these distributionsare different, relevance

of these distribution in

business practices

Solving illustrative

quantitative

problems

Interpretationthrough MS Excel

Concluding the

class discussion

(5/10 minutes)

Readings:

Textbook chapter 6: page 163-174; Page 180-184

Sessions 7 & 8:Continuous Probability Distribution:Normal and Exponential Distribution


Review of Concepts,

Continuous probability

distribution, Normaldistribution

Concept of Normal distribution and

its business applications and

relevanceSolving illustrative quantitativeproblems

Review of Normal

distribution,

Solving illustrativequantitative problems

Concept of

Exponential

distributionSolving illustrativequantitative

problems

Interpretation

through MS ExcelConcluding the

class discussion

(5/10 minutes)


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Readings:

Textbook chapter 7: Page 201-204

Sessions 9 & 10:Sampling Technique, Distribution and Estimation

Sessions 9 & 10 (150 minutes)25 minutes 35 minutes 20 minutes 55 minutes 15 minutes

Role of

Sampling

techniques inbusiness

decision making

Concepts of Sampling

distributions and its

relevance in analyticaldecision making


quantitative problems

Estimation



Sampling

techniques,

distribution andestimation in

Practice

Concluding the

class discussion

(5/10 minutes)

Readings:

Textbook chapter 8 and 9

Sessions 11 & 12:Statistical Inference: Hypothesis testing for single population (t-test andz-test)


Understanding of theconcept of hypothesis

testing, importance of

hypothesis testing inbusiness

Null and alternative hypothesis,process of solving hypothesis,

concept of t-test and its relevance in

practiceSolving illustrative quantitative

problems

concept of z-test and itsrelevance in practice



Businesspractices,

SPSS exercise

Concluding theclass discussion

(5/10 minutes)

Readings:

Textbook chapter 10

Sessions 13:Statistical Inference: Hypothesis testing for two populations (t-test)

Sessions 13 (75 minutes)

25 minutes 30 minutes 20 minutesReview of concepts,Hypothesis testing for two

populations

Solving illustrative quantitative problems Industry PracticesSPSS Exercise

Concluding the class discussion

(5/10 minutes)

Readings:


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Textbook chapter 11

Sessions 14 & 15:ANOVA: one-way Analysis of Variance with Tukeys Test

Sessions 14 & 15 (150 minutes)

30 minutes 45 minutes 75 minutesConcept of Analysis of

Variance

One-way ANOVA

Solving illustrative quantitative problems

SPSS Exercise


(5/10 minutes)

Readings:

Textbook chapter 12

Sessions 16 & 17: Regression Analysis: Correlation and covariance, Causality andinference, Building and evaluating simple linear regression modelsTopics to be covered: R, R

2, Adjusted R

2, F-test, standardized , unstandardized , t-test, p-value


Concept of Regressionanalysis, its relevance

and importance in

business decision making

Concepts of R, R2, Adjusted R2, F-test,standardized , unstandardized , t-test, p-

value

Solving illustrative quantitative problems

Interpretation of the conceptsusing SPSS software

Practice Exercise on SPSS

Concluding the class discussion(5/10 minutes)

Readings:

Textbook chapter 13

Sessions 18 & 19: Regression Analysis: Multiple regression models, Assumptions of theregression models, Forecasting with regression models.


Concepts of MultipleLinear Regression

Interpretation of the concepts using SPSSsoftware

Practice Exercise on SPSS

Practice Exercise on SPSSConcluding the class discussion

(5/10 minutes)

Readings:


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Textbook chapter 14

Sessions 20: Regression Analysis: Diagnostic testing of Multicollinearity (VIF),Autocorrelation (DW) and Heteroscedasticity (white test)

Sessions 20 (75 minutes)25 minutes 30 minutes 20 minutes

Review of concepts,

Multicollinearity-causes,

impact and remedialmeasures

Autocorrelation (DW) - causes, impact and

remedial measures

Heteroscedasticity (white test) - causes,impact and remedial measures

SPSS Exercise


(5/10 minutes)

Documents

BS Course Outline 2015 _FT