Business Statistics_Syllabus

STT 101.3 (Credit hours 3)

Business Statistics
BBA, Second Year, Third Semester

Course Objectives:
This course aims to provide students with a thorough understanding of descriptive and inferential statistical tools used in business decision making.

Course Contents:
1. Introduction 3 hours
Statistics and data, quantitative and categorical variables, fundamental elements of a statistical analysis

2. Data collection 4 hours
Sources of data, experimental research, survey research, questionnaire, data preparation- editing, coding, and transcribing

3. Tables and Charts 3 hours
Steam-and-leaf display, frequency distribution, relative frequency distribution, cumulative polygon, timeplots

4. Summarizing and Describing Numerical Data 6 hours
Measure of central tendency: mean, median, mode and mid-hinge. Measures of variation: range, inter quartile range, standard deviations, and coefficient of variations. Shape, five-number summary and box-and-whisker plot

5. Probability 7 hours
Basic concepts, counting rules, objective and subjective probability, marginal and joint probability, addition rule, conditional probability, multiplication rules, Bayes’ Theorem

6. Discrete Probability Distribution 6 hours
Random variables, mean and standard deviation of discrete random variables, mathematical expectation, binomial distribution, Poisson distribution

7. Continuous Probability Distribution 5 hours
Normal distribution and its applications, assessing normality, normal approximation of binomial and Poisson distribution

8. Estimation of Population Parameters 6 hours
Law of large numbers, central limit theorem, statistical confidence, confidence intervals, confidence for means and populations

9. Hypothesis Testing 8 hours
Testing of significance, p-value approach to hypothesis testing, connection between confidence intervals and hypothesis testing, comparing two means (two sample z and t- test procedures), comparing two proportions, power.

Text Books:
1. Levin, Richard I. And David S. Rubin: Statistics for Management, Prentice-Hall of India
2. Berenson, Mark L. and David M. Levine: Business Statistics: Concepts and Applications, Prentice-Hall, Inc