Post-Graduate Diploma in Management

(PGDM)
Area: Operations
Tem 1
Course Title – Business Statistics - 2019

Course Faculty:

Name: Dr. Gunjan Malhotra

Contact: Room No. 53 (Faculty wing 9)
Email: [email protected]
Office: +120 3002245
Student Meeting Hour: With prior appointments

Name: Dr. Rachita Gupta

Contact: Room No. 49 (Faculty wing 8)
Email: [email protected]
Office: +120 3002274
Student Meeting Hour: With prior appointment

Name: Prof. Rohit Gupta

Contact: Room No. 23 (Faculty wing 5)
Email: [email protected]
Office: +120 3002252
Student Meeting Hour: With prior appointment

Name: Dr. Namrata Sharma

Contact: Room No. 31 (Faculty wing 12)
Email: [email protected]
Office: +120 3002214
Student Meeting Hour: With prior appointment

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Course Description:
This course is designed to develop a set of quantitative skills in students that will facilitate
analysis of the issues/problems in a business set up by collecting, cleaning and analyzing the
underlying data. The students will be taught various statistical techniques through their
applications in various management domains such as marketing, finance and operations. Broadly,
the course deals with statistical concepts including measures of central tendency and dispersion,
probability distributions, the Central Limit Theorem, Sampling, Estimation, Hypothesis testing,
Analysis of Variance, Correlation and Regression analysis and Multiple Regression. The data
analysis will be carried out with the statistical Add-Ins in MS-Excel.

Learning Objectives:
The broad objectives of this course leading to achievement of sub-goal 1.1 are:
1. Decide on the appropriate statistical tool to solve the business problems.
2. Use appropriate statistical techniques in business decision making.
3. To understand, analyze and interpret statistical inference techniques (including
statistical estimation and hypothesis testing, regression analysis, etc.) in business
situations using MS-Excel. (1.1)
4. Use MS-Excel to perform statistical analysis on raw data identified.

Pedagogy:
The pedagogy includes a variety of teaching and learning techniques to impart knowledge and
skills to students. To develop conceptual and analytical skills, a mix of lectures, experience
sharing, case discussion, illustrative numerical problems, online videos, and project shall be
employed. In addition to the reading materials, additional readings and cases will be distributed
in the class from time to time. Since students' performance shall be accessed through a
continuous system of quizzes, assignments, presentations and end-term examination, students are
expected to demonstrate active class participation.

Course Requirements:

i. Students are expected to do the required readings before each session in order to enhance
their understanding and add value to class discussion.
ii. For group project the class will be divided into a number of groups by the APO. Group
Project guidelines shall be circulated separately.
iii. The course involves use of MS-Excel. Students are expected to bring their laptops and/or
calculator as and when required.

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Evaluation
Students will be evaluated based on multiple methods. The method to be employed along with
their weightage is listed below:

Specific Assessment Method Weight Intended Objectives to be Assessed

1 2 3 4
Homework Assignment 15% √ √ √ √
Quiz 20% √ √ √ √
Group Project 15% √ √ √
End-Term Exam 50% √ √ √ √

Recommended Text Book / Online Videos/ Reference Book / Journals / Website

Text Book
 Statistics for Management and Economics: By Keller and Malhotra; Cengage Learning,
11th edition

Reference Books
 Statistics for Managers Using Microsoft Excel by Levine, Stephan, and Szabat – 8th
edition, Pearson Publication

 Statistics for Business and Economics: By Anderson, Sweeney, and Williams; Cengage
Learning, 11e

 Business Statistics a First Course: By David M Levine, Timothy C Krehbiel, Mark L

Berenson, and P K Viswanathan,5e

 Business Statistics for Contemporary Decision Making: By Ken Black, Wiley India,4e

 Applied Statistics in Business Economics: By David P Doane and Lori E Seward, Tata
McGraw-Hill Publication

 Statistics for Business Decision Making and Analysis: ByRobert E Stine and Dean Foster,
Pearson Publication

 Business Statistics with CD-ROM by Naval Bajpai, Pearson Publication.

 Basic Statistics for Business and Economics – by Lind, Marchal and Wathen – 7th edition
- McGraw-Hill Education (India) Private Limited.

 Statistics for Management by Levin, Rubin, Rastogi and Sidiqqui – 7th edition, Pearson
Publication
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Journals:

 Annals of Applied Statistics

 Annals of Statistics

 Computational Statistics and Data Analysis

 Journal of Applied Statistics

 Journal of Statistics Education

 International Journal of Forecasting

In addition to above mentioned journals, please keep track of other journals, websites, published
articles and papers on Statistics applications in Business.

Websites: Useful websites to be visited for the course:

 http://mathworld.wolfram.com/

 www.statistics.com

 http://www.openintro.org/stat/

 www.amstat.org

 www.Numetrics.com

Course Outline (Foundation Course): Session/Module/Reading Material

Topic Reading
Session
Material/Case
Introduction to Statistics: Understanding of Readings:
Business Statistics, Types of Variables, Textbook
1 Measurement Scale chapter 1 and
Chapter 2
Data Visualization and Descriptive Statistics: Readings:
Histogram, Scatter Diagram, Pie Chart, Bar Chart, Textbook
Measures of Central Tendency, Application of Chapter 3 and
2 and 3 Dispersion, Mean, Median, Mode, Variance, Chapter 4
Standard Deviation, Coefficient of Variation
Solving illustrative quantitative problems using MS-
Excel
Basic Probability: Probability, Sample Space, Readings:
Events, Addition rule – mutually exclusive and not Textbook
4
mutually exclusive, Multiple rule – dependent and chapter 6
independent

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 Course Outline (Term – I): Session/Module/Reading Material

Topic Reading
Session
Material/Case
Probability with Bayes Theorem: Bayes theorem, Readings:
1 Solving illustrative quantitative problems Textbook chapter
6 – Topic 6.4.

Sampling and Probability Distribution: Concepts of Textbook Chapter

Sampling and its relevance in analytical decision 5, 7 and Chapter 8
making, Sampling techniques, Understanding of
Probability Distribution (CDF and PDF) and its types,
2, 3 and Discrete Probability Distribution: Binomial and
4 Poisson. Continuous Probability Distribution:
Exponential Distribution, Normal distribution,
Estimation, Central Limit Theorem
Solving illustrative quantitative problems

Hypothesis Testing and Statistical Inference: Textbook Chapter

Hypothesis Testing for Single Population (t-test and z- 11
test) and two Populations (t-test), Significant level, p- Textbook Chapter
value. 12
5, 6 and
Understanding of the Concept of Hypothesis Testing,
7
Importance of Hypothesis Testing in Business, Null
and Alternative Hypothesis, Process of Solving
Hypothesis

ANOVA: Concept of Analysis of Variance, One-way Textbook chapter

8 ANOVA, Solving illustrative quantitative problems 14 – Topic 14.1

Correlation and Regression: Concept of Regression Textbook chapter

Analysis, its Relevance and importance in Business 16 – Topic 16.1,
Decision Making, Assumptions of Regression Model, 16.2, 16.3, 16.4,
9 and
Correlation and Covariance, Building and Evaluating 16.5
10
Simple Linear Regression models, R, R2, Adjusted R2,
Assumptions of error term, Autocorrelation,
Multicollinearity, Heteroscedasticity
Diagnostic Tests: Multicollinearity, Autocorrelation, Textbook chapter
11. Heteroscedasticity 17
Multiple Regression: Multiple Regression Models Case: IPL;
12 and
using Excel Textbook chapter
13
17
Time-Series Models: Moving Average, Exponential
14,15
Smoothing, Holt’s Method, Winter’s Method,
and 16
Accuracy Check: MAD and MSE
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