Business Statistics

Module No.

Module/ Content

No. of Sessions

70 Marks  (External Evaluation

I

Introduction to Business Statistics:

• Introduction to Statistics, Statistics in Business, Types of data Nominal, Ordinal, Interval, Ratio.
• Types of variables – Dependent, independent, moderating, intervening, extraneous. Discrete / continuous.
• Charts and Graphs. 

Descriptive Statistics:

• Measure of central tendency – mean, median, quartile, mode (for Group and ungrouped data)
• Measure of variability – Range, interquartile range, standard deviation, variance, coefficient of variation, 

(for Group and ungrouped data)

• Measures of shape – kurtosis, skewness, boxplot.

Probability: 

• Introduction to probability
• Theories of probability – Classical, Relative frequency and subjective.
• Laws of probability – addition, multiplication.
• Inverse Probability.
• Revision of probability: BAYES’ RULE

10

17

II

Probability Distribution:

• Discrete distribution – Binomial, Poisson.
• Continuous distribution – Uniform, normal.

Hypothesis testing:

• Types of hypothesis – research, statistical, substantive.
• Null and alternative hypothesis.
• One-tailed & Two-tailed test.
• Types of Error – Type I & Type II.
• Level of significance.
• Steps of hypothesis testing.

10

17

III

Parametric Tests:

Uni-variate tests:

• z-test, T-test, Levene’s F-test

Bi-variate tests:

• T-test – Paired and independent, Pearson’s Correlation, Simple Linear Regression, One Way ANOVA

10

18

IV

Non-Parametric Tests:

Uni-variate tests:

• Chi-square goodness of fit for uniform distribution

Bi-variate tests:

• Spearman’s Rank Correlation, Mann-Whitney U test, Wilcoxon Sign Paired Rank Test, Chi-square test of independence

Multivariate: Kruskal-Wallis, Friedman’s test

Multivariate analysis:

Overview of Multiple Regression, Factor Analysis, Multidimensional scaling, Discriminant analysis.

(Theoretical Concepts only).

10

18

V

Practical:

Students should apply the statistical hypothesis testing on assumed/hypothesized data using statistical software. Making Students Understand Group Dynamics by Assigning Group & Team Building Exercises 

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(30 marks CEC)