STATISTICAL ANALYSIS FOR MANAGERIAL DECISIONS BNU MBA First Sem

Syllabus

Course Code: MBA1.3

Statistical Analysis for Managerial Decisions

Module 1: Measures of Central Tendency and Variation   14 Hours

Role of Statistics, Applications of statistics in managerial decision-making; Phases of a statistical study, Presentation of data to convey meaning - Tables, Graphs and Frequency Distribution Measures of central tendency: Mean, Median and Mode and their implications, Measures of Dispersion: Range, Mean deviation, Standard deviation, Coefficient of Variation, Skewness, Kurtosis.

Module 2: Time Series, Correlation & Regression 08 Hours

Time series analysis: Concept, Additive and Multiplicative models, Components of time series. Trend analysis: Least Square method, Linear and Non- Linear equations, Exponential smoothing method, Applications in business decision-making. Correlation: Meaning and types of correlation, Karl Pearson and Spearman rank correlation. Regression: Meaning, Regression equations and their application.

Module 3: Sampling and Sampling Distributions 10 Hours

Concept of Normal Probability distribution – Sampling – Probability and Non-Probability Sampling– Sampling and non-sampling errors- Introduction to sampling distributions, sampling distribution of mean and proportion, Point and Interval estimates for population parameters of large sample and small samples, determining the sample size.

Module 4: Testing of Hypothesis and Parametric Tests 12 Hours

Introduction to Hypothesis Testing - Formulation of Hypotheses; Procedure for Hypothesis Testing, Type I and Type II Errors, Parametric and Non – Parametric Tests, Testing for Single Population and Two Populations, Application of Z-test, t-test, F-test and Testing ANOVA (one and two way)

Module 5: Non-Parametric Tests and Decision Theory 12 Hours

Chi-square test for single sample standard deviation, Chi-square tests for independence of attributes and goodness of fit, Sign test for paired data, Rank sum test, Kolmogorov-Smirnov, Wilcoxon Signed Rank Test, Mann-Whitney U Test, Spearman’s Rank Correlation, Kruskal Wallis Test, Decision Theory – Decision under certainty, Decision making under risk (EMV criteria) and Decision making under uncertainty.