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Bumastics

This 3 credit course introduces students to statistical techniques used for business decision making. The course is divided into 4 modules covering differentiation, probability, descriptive statistics, and inferential statistics. Students will learn concepts like marginal analysis, probability distributions, data visualization, and hypothesis testing to analyze business problems. The emphasis is on application over technical details. Students will use software like Excel and SPSS to perform statistical analysis and gain experience applying these methods to real world business situations.

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Indra Chapagain
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1K views2 pages

Bumastics

This 3 credit course introduces students to statistical techniques used for business decision making. The course is divided into 4 modules covering differentiation, probability, descriptive statistics, and inferential statistics. Students will learn concepts like marginal analysis, probability distributions, data visualization, and hypothesis testing to analyze business problems. The emphasis is on application over technical details. Students will use software like Excel and SPSS to perform statistical analysis and gain experience applying these methods to real world business situations.

Uploaded by

Indra Chapagain
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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BUMASTICS

Course Objective

The purpose of this course is to impart knowledge and skills of statistical techniques and their
application to business problems and to make informed decisions, backed up by data. The
emphasis will be on the concepts and application rather than derivations or technical details.
Students will learn concepts that enable you to understand topics such as market research,
corporate risk and quality control, which they are supposed to encounter with later in their
professional career. The aim is to teach uses of techniques, leaving the computational aspect to
the computer.

Credit Hours: 3 Total LH: 48

Course Contents

Module I: Differentiation 8 LH
Module Objective: To enable students with understanding of marginal analysis in
business and economics.
Derivatives of a Function, Derivatives of Sum, Difference, Product and Quotient,
Applications of Differentiation in Economic and Managerial Problems like Marginal
Analysis and Elasticity; Maxima and Minima: Concept and Uses.
Method: Class room lecture and tutorials.
Module II: Probability 8 LH
Module Objective: To make students familiar about basics of probability theory and
their applications in business and management research.
Concept, Importance, Approaches, Additive and Multiplicative Probability, Conditional
Probability; Bayes Theorem; Probability Distribution: Binomial, Poisson, and Normal.
Method: Class room lecture and tutorials.
Module III: Descriptive Statistics 4 LH
Module Objective: To equip students with skill of carrying out descriptive statistical
procedures and utilize them in real life situation of business.
Summary of Data: Frequency Distribution, Bar Graphs, Histogram, Pie Charts, Cross
Tabulation, Simpsons Paradox, Scatter Diagram and Trend Line; Measures of Location:
Mean, Median, Mode; Measures of Dispersion: Mean Deviation, Standard Deviation,
Variance, and Coefficient of Variation.
Method: Class room lecture, tutorials and practice in the lab using statistical software
either MS-Excel or SPSS.
Module IV: Inferential Statistics 28 LH
Module Objective: To familiarize students with various hypotheses and techniques of
hypothesis tests.
Estimation: Theory, Criteria of Good Estimator, Point and Interval Estimate, Estimation
of Sample Size, Relationship among Errors Risk and Sample Size; Meaning of
Hypothesis, Types of Errors in Hypothesis Testing, One-tailed and Two-tailed Test;
Parametric Tests: t-Test (One Sample, Two Independent Sample and Paired Sample), Z-
test, One-way ANOVA, F-test; Test of Relationship: Pearson Correlation, Simple Linear
Regression; Non-parametric Tests: Chi-square Test for Goodness of Fit, Chi-square Test
for Independence, Wilcoxon Signed Rank Test.
Method: Class room lecture, tutorials and practice in the lab using statistical software
either MS-Excel or SPSS.

Suggested Readings

Anderson, D.R., Sweeney, D.J., & Williams, T.A., Essentials of Statistic for Business and
Economics, Thomson Learning.
Elhance, D.N., Elhance, V., & Aggrawal, B.M., Fundamentals of Statistics, Kitab Mahal.
Gupta, S.P., Statistical Methods, Sultan Chand and Sons.
Kapur, J.N., & Saxena, S.C., Mathematical Statistics, Sultan Chand and Sons.
Levin, R. I., & Rubin, D.S., Statistics for Management, Prentice Hall.
Shrestha, K.K., & Thagurathi, R., Applied Mathematics, Buddha Publication.

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