Statisticts For Business Decisions

Unit

Types

Contact Hours

I

Statistics-Meaning, reasons for learning statistics, types of statistical methods; Sources of data - Primary data sources and secondary data sources; Classification, Tabulation and Presentation of Data. Measures of Central Tendency: Arithmetic Mean, Geometric Mean, Harmonic Mean, Median, Mode, Quartiles and Percentiles; Measures of Dispersion: Range, Mean Deviation, Standard Deviation and Variation.

15

II

Fundamentals of Probability: Definition, concepts, rules, probability tree diagram and Bayes’ Theorem. Sampling: Reasons of sample survey, population parameters and sample statistics and sampling methods.

15

III

Correlation Analysis: Concepts, - Scatter: Diagram, Coefficient of Correlation -Karl Pearson's and Spearman’s Rank Correlation; Regression Analysis - Assumptions for regression models, regression lines and regression coefficient; Business Forecasting: Methods of Forecasting, Time Series Analysis, and Components of Time Series.

15

IV

Statistical Inference: Hypothesis testing using parametric and non-parametric tests, analysis of variance and chi-square test. Data analysis using the Microsoft Excel and the SPPS

15