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Fundamentals of Business Statistics

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159 views4 pages

Fundamentals of Business Statistics

Uploaded by

divyanshgirilaw
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Annexure ‘CD – 01’

:
L T P/S SW/FW TOTAL
CREDIT
UNITS
3 1 - - 04
COURSE TITLE: FUNDAMENTALS OF BUSINESS STATISTICS

COURSE CODE:

CREDIT UNIT: 03
COURSE LEVEL : UG

Course Objectives:
The objective of this course is to familiarize the students with fundamental statistical tools which can help them in
analyzing the business data. This course will provide students with hands-on experience to use statistical tools in order to
make scientific decisions even in uncertain business environment
.
Pre-requisites:
The students should have basic knowledge of business mathematics syllabus covered in semester one of BBA programme.
Student Learning Outcomes: On completion of the course the student will be able to:
1. Identify statistical tools needed to solve various business problems.
2. Compute measures of location and dispersion.
3. Apply discrete and continuous probability distributions to various business problems.
4. Develop the skill of performing the calculations needed for various methods of analysis.

Course Contents/Syllabus:

Weightage (%)
Module I: Introduction to Statistics 10%

1. Definitions, Functions of Statistics, Limitation of Statistics, Applications of Statistics,2.


2. Collection of Data: Types and Methods, Classification and Presentation of data:
Histogram, Frequency Curve, Frequency Polygon, Ogive
Module II: Measure of Central Tendency 20%
1. Concepts of Central Tendency: Meaning and Characteristics of Average,
2. Types of Averages: Arithmetic mean; Combined mean; Weighted mean; Median; Mode
Module III : Measure of Dispersion 20%
1. Measures of Dispersion: Range, Quartile Deviation, Mean Deviation, Standard Deviation,
Combined Standard Deviation, Correct Incorrect Values,
2. Coefficient of Variation (Absolute & Relative Measure of Dispersion),
3. Skewness-Karl-Pearson’s Coefficient of Skewness, Bowley’s Coefficient of Skewness,
Moments, Kurtosis.
Module IV :Correlation Analysis and Regression Analysis 20%
Correlation:
1. Introduction-Importance of Correlation, Types of Correlation,
2. Scatter Diagram Method,
3. Karl Pearson’s coefficient of Correlation (Grouped and Ungrouped),
4. Spearman’s Coefficient of Rank Correlation, Rank Correlation for Tied Ranks,
Regression Analysis:
1. Concepts of Regression, Difference b/w Correlation and Regression,
2. Regression Lines. Regression Coefficient in a bi-variate frequency distribution.
Module V Time Series Analysis 10%

1. Introduction; Objectives of Time Series analysis;


2. Components of a Time Series;
3. Moving Average Method; method of least squares (fitting of linear trend only)

Module V1 Probability Theory and Distributions


1. Concept; Addition and multiplication theorems of probability; conditional probability & 20 %
independent events;
2. Bayes’ theorem; Probability Distribution Function, Binomial distribution; Poisson
distribution; Normal distribution and their applications
Pedagogy for Course Delivery
The course pedagogy will include lectures, numerical practice and discussion on numerical applications of the topics
covered.

Assessment/ Examination Scheme:

Theory L/T (%) Lab/Practical/Studio (%) End Term Examination

30% - 70%

Theory Assessment (L&T):


Continuous Assessment/Internal Assessment End Term
Examination
Components CT H C V A EE
(Drop down
Weightage (%) 10 5 5 5 5 70

Text & References:


Text:
Sharma J K (2014), Fundamentals of Business Statistics, Vikas Pub. House, 2014
References:
Gupta S P(2013), Statistical Methods, S. Chand & Co.
Kapoor & Sancheti,(2011), Business Statistics, Sultan Chand & Sons
Anderson Sweeney Williams(2010), Statistics for Business and Economics, Eighth edition, Thomson
Rubin & Levin(2013), Statistics for Management, Seventh edition, Pearson, Prentice Hall of India.

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