Introduction
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 and analysis techniques. This course aims at imparting these skills so that you can make better of use of data in taking decisions.
The main objectives of this course are
· To teach the basic concepts of statistics;
· To improve your ability to use statistics in the real world;
Session-wise course outline
Descriptive statistics ( Sessions1 & 2)
Measures of central tendency, dispersion and outliers, data presentation, etc.
Readings:
Chapters 1 to 3
Introduction to probability (Sessions 3, 4, & 5)
Approaches to probability, Rules of probability, dependence of events, conditional probability, Bayes rule
Chapter 4
Random Variables and Probability Distribution (Sessions 6, 7, 8)
Definition of random variable, distribution and some moments, use of expected value in decision making
Discrete and Continuous probability distributions
Readings
Chapter 5
Handouts
Sampling and Sampling distributions (Sessions 9, 10)
Chapter 6
Statistical estimation (Sessions 11, 12)
Point and Interval estimation
Readings
Chapter 7
Hypothesis testing (Sessions 13, 14, 15, 16)
One sample, two-sample, ANOVA, Chi-Square, F based of various population parameters.
Readings
Chapters 8, 9 and 11
Non-Parametric tests (Sessions 17, 18)
Chapter 14
Simple linear regression (Sessions 19 & 20)
Readings
Chapter 12
Evaluation
Mid Term : 30 marks
End Term : 40 marks
Quizzes : 30 marks (3 quizzes of 10 marks each) No requests for make-up quizzes will be entertained
Total : 100 marks
ACADEMIC DISHONESTY:
Please note that students involved in academic dishonesty will receive a ZERO grade on the particular component in which the infraction occurred.
Academic dishonesty consists of misrepresentation by deception or by other fraudulent means. In an academic setting this may take any number of forms such as copying or use of unauthorized aids in tests, talking during in-class examinations; aiding and abetting another student’s dishonesty; and giving false information for the purpose of gaining credits.
References
1. Statistics for Management, by Levin R.I, and Rubin D.S. Prentice Hall India, Seventh Edition, 2000.
Also note that, as the course covers fundamental topics, most books on business statistics are equally useful.
2. Statistics resources on the Internet