Statistics For Managers

Date : 11.01.
2021
Session : 04
Topic : Statistics for
Managers
(Preface Discussion)
Time : 12.15 PM
Course Instructors
Dr. G. NAVEEN KUMAR
B.Sc. (C.S.Engg.), MBA, SLET, PhD
Head of Department
Dr. I. J. RAGHAVENDRA
MBA, M.Com, M.Phil, MHRM, PhD
Associate Professor
Mr. K. SUDHEER
MBA, (PhD)
Assistant Professor
COURSE AIM/S
• The course aims to encourage thinking statistically.
• It will encourage you to develop your abilities to
understand and use data.
• It is designed to equip managers with the skills to
make effective use of data in the workplace, to
develop expertise in a standard set of statistical and
graphical techniques that will be useful in analyzing
data, and to learn to apply these techniques in a
number of areas of management.
COURSE OUTCOME/S
• Appreciate that the collection and statistical
analysis of data improves business decisions and
reduces the risk of implementing solutions that
waste resources and effort.
• Select and deploy the correct statistical method
for a given data analysis requirement.
• Achieve a practical level of competence in
building statistical models that suit business
applications.
• Recognize, develop and distinguish between
models for cross-sectional analysis at a single point
in time and models for time series analysis at
UNIT-I
INTRODUCTION TO STATISTICS
Overview:
Origin and Development - Managerial Applications
of Statistics - Statistics and the Branches of the
Study - Statistics & Computers - Limitations of
Statistics.
Objective: To know the origin and development of
statistics and their linkage to management
applications.
Outcome: To understand the importance and usage

of statistics.
Overview: Statistics, quite simply, is about learning

from sample data. You face a group of individuals -
perhaps people, but maybe cans of tomatoes, or
automobiles, or fish in a lake, or even something as
nebulous as calendar weeks. Thus statistics is a set of
concepts, rules, and procedures that help us to
organize numerical information in the form of
UNIT-II
MEASURES OF CENTRAL
TENDENCY
Measures of Central Tendency: Mean - Median –
Mode.
Measures of Dispersion: Range - Quartile Deviation

- Mean Deviation - Standard Deviation and Co-
efficient of Variation.
Skewness: Karl Pearson Co-efficient - Bowley’s Co-

efficient - Kelley's Co-efficient. (Theory and
Objective: To know the concepts and their
calculation methods.
Outcomes: To learn the basic calculations and usage

of statistical methods in current scenario.
Overview: One of the important objectives of statistics is
to find out various numerical values which explain the
inherent characteristics of a frequency distribution. The
first of such measures is averages. Averages are the
typical values around which other items of the
distribution congregate. This value lies between the two
extreme observations of the distribution and give us an
idea about the concentration of the values in the central
part of the distribution are called the measures of central
tendency. It is a statistical measure that determines a
single value that accurately describes the center of the
distribution and represents the entire distribution of
scores. The goal of central tendency is to identify the
single value that is the best representative for the entire
set of data. They are also classed as summary statistics.
The mean, median and mode are all valid measures of
UNIT-III
TABULATION
Classification and Tabulation: Univariate - Bivariate

- Multivariate Data - Data Classification and
Tabulation.
Graphical Presentation of Data: Diagrammatic and

Graphical Representation of Data - One
Dimensional - Two Dimensional - Three Dimensional
Diagrams and Graphs.
Objective: To know the tabulation methods for
representing data in precise manner.
Outcome: To be able to frame the representation of
data in tabular and graphical methods.
Overview: Data can be collected from a source by
using different methods. Usually the collected data
will be in questionnaires, schedules or response
sheets. It is the duty of a statistician to consolidate
the data. We can include a huge volume of data in a
simple statistical table and one can easily get an
overview about the sample by observing the
statistical table rather than the raw data. Tables are
highly useful for further statistical analysis and
interpretation. The tabulation of data in a
UNIT-IV
SMALL SAMPLE TESTS
Sample Test: t-Distribution - Properties and

Applications - Testing for One and Two Means -
Paired t-test.
Analysis of Variance: One Way and Two Way

ANOVA (with and without Interaction). Chi-Square
distribution: Test for a specified Population variance
- Test for Independence of Attributes.
Objective: To know various sample tests.
Outcome: Students are able to test the data by using various
techniques this can represent data in useful manner.
Overview: Sampling problems dealt with means and
proportions. Evaluation of the sampling errors was based on
the normal distribution. A small sample distribution, known
as the t-distribution, has to be used in this case. When
samples are small and the distribution of the variable in the
population is not normal, there is no readily available
sampling distribution. In the case of the mean, the sampling
distribution was normal because the variable was distributed
normally in the population or because the Central Limit
Theorem ensured normality for large samples. In the case of
proportions, the normal distribution was used as an
approximation for the underlying binomial distribution.
When dealing with proportions coming from small samples, it
UNIT-V
CORRELATION AND REGRESSION
ANALYSIS
Correlation Analysis: Scatter Diagram - Positive and
Negative Correlation - Limits for Coefficient of Correlation -
Karl Pearson’s Coefficient of Correlation - Spearman’s
Rank Correlation - Concept of Multiple and Partial
Correlation.
Regression Analysis: Concept - Least Square Method - Two

Lines of Regression - Properties of Regression Coefficients.
Time Series Analysis: Trend analysis - Free Hand Curve -
Moving Averages.
Objective: To know the correlation and regression analysis of
data.
Outcome: To be able to analyze the data by using time series,
correlation, regression, etc. and their usage importance for
taking decisions.
Overview : Correlation is statistical Analysis which measures
and analyses the degree or extent to which the two variables
fluctuate with reference to each other. It indicates that there
is some connection between the variables. It does not indicate
cause and effect relationship. Price and supply, income and
expenditure are correlated. Regression analysis reveals
average relationship between two variables and this makes
possible estimation or prediction. The relationship between
two variables can be considered between, say, rainfall and
agricultural production, price of an input and the overall cost
of product consumer expenditure and disposable income.
Time series Analysis helps us understand what are the

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Date : 11.01.

Outcome: To understand the importance and usage

Overview: Statistics, quite simply, is about learning

Measures of Dispersion: Range - Quartile Deviation

Skewness: Karl Pearson Co-efficient - Bowley’s Co-

Outcomes: To learn the basic calculations and usage

Classification and Tabulation: Univariate - Bivariate

Graphical Presentation of Data: Diagrammatic and

Sample Test: t-Distribution - Properties and

Analysis of Variance: One Way and Two Way

Regression Analysis: Concept - Least Square Method - Two

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