Course Outline - Business Statistics
Course Outline - Business Statistics
The course requires some basic aptitude for learning analytical skills and applying them for
informed business decision making.
Objective
Every day business managers have to make decisions and rely on interpretations based on hard
facts so its imperative for them to study statistics to make better decisions and learning its
applications in business. Statistics is about dealing with data. Data are found in all areas of
business. This is a time to have the students brainstorm on the wide variety of places in business
where data are measured and gathered. It is important to define statistics which focuses on
procedures and methods involved in collecting, presenting and summarizing of a set of data or
forming conclusions about that data.
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Pedagogy
Sessions will be based on lectures, class exercises and case studies and assignment. Reading
material will be provided to students well in advance, so that they will get enough time to study
it intensively. Initiative to solve exercises and interaction in the class is encouraged to facilitate
class participation and to give them ample exposure to understand how statistics is used in
business. Students will be made familiar with software packages like MS Excel and SPSS used
in business world. A small project will be assigned to participants in a group involving
primary data collection and its analysis using statistical tools learned in the course to test the
understanding of fundamentals and the proficiency developed for applications in business
decision making.
Evaluation Criteria:
Midterm : 30 %
Case study/Assignments/Quiz : 30%
End Term Exam : 40 %
(Measurement of LG 2 by any one component or part thereof)
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leaf plot, and scatter plot
Introduction to Statistical Software Packages:
Excel, SPSS
2-3 Descriptive Statistics Chapter 3 (KB)
Distinguish between measures of central
tendency, measures of dispersion, and measures
of shape.
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attributes/variables
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Linkage with the courses to be taught in the subsequent trimesters.
This will build the basic foundation for taking next core course of supply chain management
and help better understand quantitative aspects of modeling for EPGDIM/EPGDIF and
EPGDIB.
Text Book:
Black, K: Applied Business statistics: Making Better Business Decisions: Willey (7th
Edition) abbreviated as KB.
Suggested Readings
(1) Aczel, A.D. & Sounderpandian, J. (2002): Complete Business statistics, Tata Magraw
– Hill.
(2) Levin, D. M.; Krehbiel, T. C. & Berenson, M. L. (2004) : Business Statistics A first
line course, Pearson Education
(3) Berenson, M.L. & Levine, D.M (1999) : Basic Business Statistics, Prentice Hall
International Editions.
(4) Levin, R.I. & Rubin, D.S. (7th ed.): Statistics for Management, Pearson Education
(5)Statistics for Management and Economics by Keller. Seventh edition, Thomson
Learning
(6)Introductory Statistics by Weiss. Seventh edition, Pearson education.
(7)Data analysis & Decision Making by Albright, Winston, Zappe. Second edition,
Thomson Learning
(8)Statistics for Management and Economics by Anderson. ninth edition, Thomson Learning
AOL Evaluation
LEARNING GOAL 2:
Innovative Thinking in Complex Business Situations
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Rubrics are defined below:
Learning Learning Excellent Good Fair
Goal Objective Unsatisfactory
LEARNING LO 2.1: Able to Able to Able to Unable to
GOAL 2: Able to apply demonstrate demonstrate demonstrate fair demonstrate ability
Innovative knowledge of excellent ability good ability ability to apply to apply
Thinking in business to apply to apply knowledge of knowledge of
Complex management knowledge of knowledge of business business
Business concepts to business business management management
Situations analyze management management concepts to concepts to
business concepts to concepts to analyze business analyze business
problems analyze business analyze business problems problems critically
critically and problems problems critically and and suggest
suggest critically and critically and suggest innovative
innovative suggest suggest innovative solutions
solutions innovative innovative solutions
solutions solutions