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Statistics for Business Decisions (Theory)
Course Objectives: This course will enable the students to - • Enable the students to acquire knowledge of all the statistical aspects for business decisions. • Develop the understanding of the business problems in the quantitative manner and analyze them using statistical tools.
Course Outcomes (COs):
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Course |
Learning outcome (at course level) |
Learning and teaching strategies |
Assessment Strategies |
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Course Code |
Course Title |
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CBBA 401 |
Statistics for Business Decisions |
Upon completion of the paper, student will: CO 161: Understand the concept of correlation. CO 162: Understand the Application of regression analysis. CO 163: Knowledge of the theory of probability and probability distribution. CO 164: Develop a hypothesis and test it. CO 165: Analyze the collected data using various statistical tools and techniques CO 166: Construct a research report. |
Approach in teaching: Interactive Hours, Discussion, Tutorials, Reading assignments
Learning activities for the students: Self learning assignments, Effective questions, Giving tasks |
Class test, Semester end examinations, Quiz, Solving problems in tutorials, Assignments, Presentation, Individual and group projects |
Correlation Analysis: Meaning and significance. Correlation and Causation, Types of correlation. Methods of studying simple correlation - Scatter diagram, Karl Pearson’s coefficient of correlation, Spearman’s Rank correlation coefficient, Concurrent correlation.
Regression Analysis: Meaning and significance, Regression vs. Correlation. Linear Regression, Regression lines (X on Y, Y on X)
Probability: Meaning and need. Theorems of addition and multiplication. Conditional probability. Baye’s Theorem.
Probability Distribution: Meaning, characteristics (Expectation and variance) of Binomial, Poisson, and Normal distribution.
Sampling Theory: Parameter and Statistic, Sampling Distribution of a Statistic and Standard Error of a Statistic
Test of Hypothesis: Element and Procedure of Testing a Statistical Hypothesis, Types of Errors. Level of Significance
Test of Significance (Large Sample)- Sample Mean, Difference between two Sample Means, Difference between two Standard Deviations, Sample Proportion and Difference between two Sample Proportions
Test of Significance (Small Sample): Application of Student’s t- test for Mean, Difference between two Means (Independent and Paired t-test for Difference of Means).
Chi-square test: Definition and Nature, Uses of Chi-Square Test- Test of Goodness of Fit, Test of Independence of Attributes and Test for the Population Variance.
Analysis of Variance: One-way and two-way classification.
Research report writing: Format of research report, presentation, footnote- endnote, bibliography, references.
Essential Readings:
• S.P. Gupta (S.P.): Statistical Methods, Sultan Chand & Sons, 34th Edition.
• Goon, Gupta and Das: Fundamentals of Statistics
• Snedecor and Cochran, Statistical Methods, Oxford and IBH Publishers.
Suggested Readings:
• Shukla,M.C. and Gulshan S.S., Statistics Theory and Practice, Sultan Chand and Sons, New Delhi.
• Richard Levin & David Rubin: Statistics for management, Prentice Hall.
• Anderson, Sweeny & Williams: Statistics for Business and Economics, South West
E-Resources:
• https://www.google.co.in/books/edition/Statistics_for_Business/DMv03Z7JN...
• https://www.google.co.in/books/edition/Essentials_of_Business_Research/s...
• https://www.google.co.in/books/edition/Research_Methodology/a3PwLukoFlMC...
Journals:
• Journal of Business Research
• Business Perspective and Research
• IIS Journal of Commerce & Management
• Indian Journal of Applied Research
