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BUSINESS STATISTICS

Credits	3
Faculty Name	Bhabesh Sen
Program	BM
Academic Year and Term	2016-17 Term I (Sec-E & F)

Course Description

This course is an introduction to statistics designed for management students. In the rapidly changing business environment it is imperative to have an appreciation of data, its presentation, analysis and interpretation. This course aims at imparting these skills so that you can make better of use of data in decision making.

Course Contents:

Descriptive statistics, Measures of central tendency, dispersion and outliers, data presentation Introduction to probability, Approaches to probability, Rules of probability, dependence of events, conditional probability, Bayes theorem, Random Variables and Probability Distribution , Definition of random variable, distribution and some moments, use of expected value in decision making, Discrete and Continuous probability distributions, Sampling and Sampling distributions, Statistical estimation, Point and Interval estimation, Hypothesis testing, One sample, two-sample, ANOVA, Chi-Square, F distribution based test of various population parameters. Non-Parametric tests, Simple linear regression


Leaning Outcomes

At the end of the course you should be able to

· Present / interpret data in tables and charts.
· Understand and apply descriptive statistical measures to business situations.
· Understand and apply probability distributions to model different types of business processes.
· Understand and apply statistical inference techniques (including statistical estimation and hypothesis testing) in business situations.
· Understand and apply simple linear regression analysis to study relationship between variables.