Course Outline: Business Statistics

Course code: QM502

Credit:3 , Core Course
Area: Operations and Quantitative Method
Program: PGDM
Term II Academic Year 2022-23
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Instructor(s) Name Prof. Deepak Chawla Prof. Shraddha Mishra Prof. Arvind Seth
(Sec C & D) (Sec A & B) (Sec E)
Room no. 203 003 (MDP Bldg.)
Email [email protected] [email protected] [email protected]
Phone (Extn no.) 7838744410 9717261384 9205453637
Meeting Hours Friday (2:30-4:30 pm) Monday (2:00-4.00 pm)
______________________________________________________________________
1. COURSE DESCRIPTION

The course aims to enhance an understanding of quantitative information by building analytical skills.
The students will learn how to develop models, carry out data analysis, interpretation and make
objective decisions related to problems faced in business. The students will use EXCEL & SPSS software
for analyzing statistical data. The course also aims to prepare the students to use various quantitative
tools which can be applied for decision making.

2. COURSE OUTCOMES (COs) COs >>

COs and POs >>
After going through the course, the students would be able to: COs, POs and CECs >>

Course Outcome 1 (CO1): Formulate the decision problem by identifying various alternatives.

Course Outcome 2 (CO2): Identify the data analysis needs.

Course Outcome 3 (CO3): Analyze the data using appropriate technique to reach valid conclusions.

Course Outcome 4 (CO4): Apply the knowledge to interpret the findings and communicate the
same to management through written and oral presentation.

COs >>
COs and POs >>
COs, POs and CECs >>
 3. MAPPING OF THE PROGRAM OUTCOMES (POs) AND COURSE OUTCOME (COs)

Course Outcomes (COs)

Program Outcomes (POs) CO CO CO CO

1 2 3 4

PO1: Student should be able to write well organized and grammatically 2

correct business reports and letters.

PO2: Student should be able to make effective oral presentations. 2

PO3: Student should be able to demonstrate critical thinking skills by 3 3 3

understanding the issues, evaluating alternatives on the basis of multiple
perspectives and presenting a solution including conclusions and
implications.

PO4: Student should be to demonstrate problem solving skills by 2 3 3

understanding and defining the problem, analyzing it and solving it by
applying appropriate theories, tools and techniques from various
functional areas of management.

PO5: Student should be able to illustrate the role of responsible

leadership in management.

PO6: Student should be able to identify social concerns and ethical 1

issues in management.

PO7: Student should be able to identify challenges faced by the

organization at the global level.

PO8: Student should be able to take decisions in the global business

environment.

4. PEDAGOGY

The course will be based on Class room lectures, Exercises based on class-discussions, cases, and group-
project. Students would have to work individually as well as in groups. Students are expected to read the
relevant chapters from the book and any other reading material provided before they come to the class.
 5. COURSE EVALUATION COMPONENTS (CECs)
CEC1: Quizzes (2 out of 3) 20%
CEC2: Mid-term Examination 30%
CEC3: End-term Examination 40%
CEC4 : Group Project/Case Presentation/Assignment 10%
Total 100%

6. MAPPING BETWEEN COs, POs and CECs

Course Evaluation Components (CECs)

CEC1: Quiz CEC2: Mid- CEC3: End- CEC4: Group
COs POs
term term Project/Case
Examination Examination Presentation/Assignment
CO1 PO4 √ √ √
CO2 PO3, PO4 √
CO3 PO3, PO4, PO6 √ √ √
CO4 PO1, PO2, PO3 √

7. RESOURCES
7.1 Textbook

1. R I Levin, and David S Rubin (2017), “Statistics for management”, (Pearson Education India.
Eight edition).

7.2 Reference Books

1. Aczel Amir D and Sounderpandian J Complete Business Statistics, Tata McGraw Hill (7th edition,
2012).
2. David R Anderson, Dennis J Sweney and Thomas A Williams (2007), “Statistics for Business and
Economics”, Thompson South Western (Ninth edition).
3. Gerald Keller, “Statistics for Management”, 4th Indian edition (Thomson South-Western, a
division of Thomson Learning Inc., 2009), 718 pp.
4. Naval Bajpai, “Business Statistics”, (Pearson Education South Asia, 2013 edition), 794 pp.
5. Ken Black, “Business Statistics”, (Wiley India 5th edition), pp 839
6. D. Chawla & N. Sodhi “Research Methodology, Concepts and Cases”
 7.3 Online References (if any)

Click or tap here to enter text.

8. SESSION PLAN
Session
Topic Reading & Cases
No.

DECISION THEORY Read: Pages 897 - 907, 925-934

 Decision Environment Attempt: SC 17.1, 17.7, 17.8, 17.6, 17.8

1-2  Expected profit under uncertainty
assigning probability values
 Expected values of perfect information
 Decision tree analysis

SAMPLING AND SAMPLING DISTRIBUTIONS Read: Pages 268 to 308 from Text
(NON-PROBABILITY & PROBABILITY SAMPLING)
Attempt: Exercises 6.6, 6.8, 6.12, 6.17, SC 6-
 Various sampling concepts 2. SC 6-3, 6.24, 6.25, 6.26, 6.28,
 Random and Nonrandom Sampling 6.34, 6.35, 6.36, 6.37, 6.40, 6.41,
 Sampling vs. census 6.44, SC 6-8 from text
3-5  Sampling error
 Non-sampling error
 Probability and non-probability sampling
methods
 Sampling distribution of mean, Central
Limit Theorem
 Sampling distribution of proportion
 Sampling from a Finite Population

ESTIMATION Read: Pages 316 - 362 from Text

 Point estimation Attempt: Exercises SC 7-1, 7.12, 7.15, 7.17,

 Interval estimation SC7-6, 7.25, 7.28, 7.34, 7.38, SC 7-
 Confidence interval for mean using Z 10, 7.40, 7.42, 7.44, 7.45, 7.49 and
6-7 distribution 7.51 from text
 Confidence interval for mean using t
distribution
 Confidence interval for proportion using Z
distribution Case : Presidential Polling
 Determination of sample size while
estimating mean and proportion
 TESTING OF HYPOTHESES Read: Pages 371 - 390 and 397 – 403
from Text
 Various concepts
 One tailed test and two tailed test Attempt: Exercises SC 8-3, 8.19, 8.20, SC 8-
 Type 1 error and type II error 5, 8.28, 8.33, 8.45 and 8.48 from Text
8-9
 Level of significance
 Power of test Cases
 Testing hypotheses concerning  Cut Craft Cutlery
population mean  Perception of people about ban on
 Large sample test plastic bags in Delhi
 Sampling sample test

TESTING OF HYPOTHESES CONCERNING Read : Pages 411 - 441 from Text

DIFFERENCES OF POPULATION
Attempt: Exercises 9.2, 9.3, 9.8, SC 9-6 and
 The case of population standard 9.13 from Text
deviation being known
10-11
 The case of population standard Cases
deviation being unknown  Compensation for Faculty Member
 The case of paired sample  Tiresome Tires II
 Comparative perception of Mess
Food vis a via Dhabas – A case of
IIFT

TESTING OF HYPOTHESES CONCERNING Read: Pages 405 - 411 and 455 – 463
PROPORTION AND DIFFERENCE BETWEEN from Text
PROPORTIONS
Attempt: Exercises 8.39, SC 8-10, 8.43, 9.18
 Test of proportion (single population) and 9.20 from Text
12
 Test of proportion (two population)
Cases:
 Airline Satisfaction Survey
 Ice cream markets in India
 Tata tea

NON-PARAMETRIC STATISTICS Read : Pages 732-736, 758-761

 Test for equality of more than two
population proportion Attempt : 14.25, 14.27, 14.29, SC 11.1, SC
 Relationship between variables – 11.8, 11.38, 11.40, 11.42, 11.44, 11.45
contingency table
13-15  Test of population standard deviation Cases:
 Confidence internal for standard  Quality Associates, Inc.
deviation  Indian Bicycle Industry
 Goodness of fit of distribution  Data Facts Research
 TEST FOR EQUALITY OF TWO VARIANCE Read : Pages 576-580
16
Attempt: 11.46, 11.50, 11.51

ANALYSIS OF VARIANCE (ONE WAY Read: Pages 542-547, SC 11.5, 1.25, 1.26
17 CLASSIFICATION) INCLUDING POST-HOC
ANALYSIS

CORRELATION AND REGRESSION ANALYSIS Read: Pages 596 – 649 from Text

 Concept, Correlation coefficient Attempt: Exercises 12.16, 12.31 and 12.37

 Rank order correlation coefficient, from Text
 Limitation of correlation theory
 Simple linear regression model Cases
18-20 estimation  Exercise on Demand Function
 Test of significance of regression Estimation
coefficient  Mountain States Potato Co.
 r2, significant of r2
 Multiple regression, test of significance
 R2, Use of regression in point & interval
forecast (exact & approximate interval)

9. ACADEMIC INTEGRITY & CLASS RULES

a) Plagiarism is the use of or presentation of ideas, works that are not one’s own and which are not
common knowledge, without granting credit to the originator. Plagiarism is unacceptable in IMI
and will invite penalty. Type and extent of penalty will be at the discretion of the concerned
faculty.

b) Cheating means using written, verbal or electronic sources of aid during an examination/ quiz/
assignment or providing such assistance to other students (except in cases where it is expressly
permitted by the faculty). It also includes providing false data or references/list of sources which
either do not exist or have not been used, having another individual write your paper or
assignment or purchasing a paper for one’s own submission. Cheating is strictly prohibited at IMI
and will invite penalty as per policies of the Institute .