statistical methods for business decisions

MBA Entrepreneurship & Family Business: 2010 -2011School of Business Management, NMIMS UniversityCourse name: Statistical Analysis for Business DecisionsTrim: I______________________________________________________________________Instructor’s Name: Dr. T. Kanchwala

Course objective:To familiarize students on the following:

(a) The Sampling concepts involved in Statistics

(b) Need for Statistics & Sampling theory in solving business & research problems

(c) Scope and limitation of use

Evaluation Criteria: Mid Term: 50 marks comprising of 2 test & or assignments End Term Exam: 50 marksFaculty: Pedagogy:

1. Use of problem solving for all the topics.

2. Use of case lets / case studies.

3. Use of Software like Excel / SPSS.

Session Outline

Session

Topic

1 Theory of Probability – Relevance to Management, Basic Concepts - Probability, Event, Experiment, Sample Space, Type of EventsRead ASW Chapter 4 or LR Chapter 4

2Theories of Probability - Classical theory, Relative Frequency theory, Axioms, Addition rule, Multiplication rule – Problems & ApplicationsRead ASW Chapter 4 or LR Chapter 4

3 Bayes Theorem – Problems & ApplicationsRead ASW Chapter 4 or LR Chapter 4

4 Probability Distribution - Meaning of Probability Distribution, Type of Probability DistributionRead ASW Chapter 5 or LR Chapter 5

5Binomial Distribution, Poisson Distribution– Properties, Applications, Problems, Excel & SPSS functionsRead ASW Chapter 5 or LR Chapter 5

6Normal Distribution– Properties, Applications, Problems, Excel & SPSS functionsRead ASW Chapter 6 or LR Chapter 5

7 Sampling Theory – Introduction, Examples, Principles, & Methods of Sampling

Read ASW Chapter 7 or LR Chapter 6

8

Sampling Distributions for Statistic Arithmetic Mean – Concept of Standard Error, Standardizing of Sampling Mean, Importance of Sample Size, Related ProblemsRead ASW Chapter 7 or LR Chapter 6

9

Interval estimates of the Mean from large samples – Concept of Estimator, desirable properties of Estimators, Interval Estimate using Normal distribution,Read ASW Chapter 8 or LR Chapter 7

10

Introduction of ‘t’ - distribution, Concept of Degree of Freedom, Interval Estimation using t distribution, Determination of Sample size, related problemsRead ASW Chapter 8 or LR Chapter 7

11

Testing of Hypothesis (One Sample Tests for Arithmetic Mean) – Introduction to Hypothesis Testing, Procedure for Hypothesis Testing, Importance of level of Significance


12

Two Tailed & Single Tailed test, concept of p – value as an alternate approach to testing of hypothesis, related problems


13

Testing of Hypothesis (two sample tests) – Sampling distribution for difference between mean, Hypothesis Testing for difference between mean for large Sample & Small Sample, Paired difference test, related problems


14

Sampling Distributions for Statistic Proportion of Success – Concept of Standard Error, Standardizing of Proportion of Success, Importance of Sample size, Interval estimates of the proportion from large samples, Hypothesis Testing of Proportion of Success, related problems Read ASW Chapter 7-9 or LR Chapter 6-8

15-16

Sampling Distribution for difference between Proportion of Success, Hypothesis testing for differences between Proportions, related problems


17

F Test for inferences about two variances – Introduction to F distribution, F table, Inferences about two population Variances, One Tailed test of two variances, related problems


18

Chi-Square Test – Concept of Contingency Table, Observed & Expected frequency, Chi square statistics, Chi square distribution, using chi square test of independence, chi-square test of Goodness of fit, precaution using chi square test, related problemsRead ASW Chapter 12 or LR Chapter 11

19Analysis of Variances – One way classification model, Two way classification model, related problemsRead ASW Chapter 13 or LR Chapter 11

20 Software Packages in Statistics (use of SPSS)

References:

1) Statistics for Management by Levin & Reuben

Sessions 1 - 19

2) Business Statistics by A Aczel & J Sounderpandian

(Reference)

3) Statistics for Business & Economics by Anderson Sweeney Williams

Sessions 1 - 19

4) Statistics – Concepts & Applications by Pal & Sarkar Use of SPSS

Session 20

5) Statistics for Management by Srivastava & Rego

(Reference)

statistical methods for business decisions

Documents