Module                        : BMS 203: Business Statistics-II

           Programme                 : B.Com

Credit Value              : 12

Prerequisite                : None

General Objectives:

·               To develop students’ competence in applying various statistical techniques that are used to collect information, summarize data and analyze quantitative information for decision making

                  (The proofs of statistical theorems are not expected from students)

Learning Outcomes:

Upon successful completion of this module, student should be able to:   

·               explain the concept of probability and various probability rules that helps to measure uncertainty

·               describe characteristics of binomial, poison, normal and geometric probability distributions

·               develop managerial judgment to utilize the subjective as well as objective interpretation of probabilities in decision making

·               explain why hypothesis testing is important

·               develop hypothesis test methodology for accepting or rejecting null hypothesis and use the test statistic z, t and F to test the validity of a claim or assertion about the true value of any population parameter

·               explain the advantages and disadvantages of non parametric statistical tests

CONTENT

Unit- I:   Probability Theory                                                                                           (8 Hours)

Theory of probability and its approaches.  Addition and multiplication laws, conditional probability and bayes’ theorem.

Unit- II:  Random variable                                                                                              (5 Hours)

                 Concept of random variable and its probability distribution.  Expectation and

                 variance of a random variable.

Unit- III: Probability Distributions                                                                   (12 Hours)

                  Probability density functions.  Binomial, Poisson, and Normal

                  distributions.

Unit- IV: Sampling Theory                                                                                            (6 Hours)

                  Size of a sample.  Types of sampling including random and non-random

                  sampling.  Expectation and standard error of sample distribution of a

           statistic and sampling distributions.

Unit- V:  Statistical Inference                                                                                        (12 Hours)

                  Point and interval estimation. Properties of a good estimator.  Procedure of

                  testing a hypothesis.  One-tail and two-tail test.  Z-test, t-test and chi-square 

Unit- VI: Analysis of Variance                                                                                       (7 Hours)

                  Assumptions and analysis of variance model. Analysis of one way and two

             way classification model.

Teaching strategies

·         Lecture

·         Demonstration

·         Group works

·         Peer assisted learning

Assessment

·         Assignment/presentation            20 %

·         Mid-Semester Exam                  30 %

·         End- Semester Exam                 50 %

                                               Total  100%

Essential Texts

1. Gupta, S.P. and Gupta, M.P. (2005).  Business Statistics (14^th edition). New Delhi: Sultan and Chand & Sons.
2. J.K. Thukral, Business Statistics, Taxmann Allied Services Pvt. Ltd.

References

1. Levin, R.I. and Rubin, D.S. (2004) Statistics for Management (8^th edition). Prentice Hall of India.
2. Gupta, S.P. (2005). Statistical Method (5^th edition). New Delhi: Sultan and Chand & Sons.
3. Frank, H. and Althoen, s. (1995) Statistics: Concepts and Applications. Cambridge low-priced editions.
4. Seigel, A.F. Practical Business Statistics (4^th edition). Irwin Mcgraw Hills.
5. Gupta, S.C. Fundamentals of Statistics. New Delhi: Himalaya Publishing House.
6. Ken Black, Business Statistics, West Publishing Company.