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  • Business Statistics and Decision Making Techniques

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    This document outlines the objectives and scope of a probability modeling and statistics module. The module aims to teach students how to make managerial decisions under uncertainty using statistical techniques, analyze data, and make business decisions. It is divided into two parts, with part one covering topics like the binomial, normal, and Poisson distributions, sampling, estimation, and hypothesis testing. Part two covers additional topics like the chi-square test, ANOVA, correlation, regression, and decision making environments involving determinism, risk, and uncertainty.

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    course stucture for mba students

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    PM&S.pdf

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    This document outlines the objectives and scope of a probability modeling and statistics module. The module aims to teach students how to make managerial decisions under uncertainty using statistical techniques, analyze data, and make business decisions. It is divided into two parts, with part one covering topics like the binomial, normal, and Poisson distributions, sampling, estimation, and hypothesis testing. Part two covers additional topics like the chi-square test, ANOVA, correlation, regression, and decision making environments involving determinism, risk, and uncertainty.

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    © All Rights Reserved
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    14 views7 pages

    Business Statistics and Decision Making Techniques

    Uploaded by

    Hi G
    This document outlines the objectives and scope of a probability modeling and statistics module. The module aims to teach students how to make managerial decisions under uncertainty using statistical techniques, analyze data, and make business decisions. It is divided into two parts, with part one covering topics like the binomial, normal, and Poisson distributions, sampling, estimation, and hypothesis testing. Part two covers additional topics like the chi-square test, ANOVA, correlation, regression, and decision making environments involving determinism, risk, and uncertainty.

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    of 7

    PROBABILITY MODELING &

    STATISTICS
    DR KN CHAUBE
    Ms HEENA KHATRI
    MODULE OBJECTIVE
    MAKE MANAGERIAL DECISIONS UNDER
    UNCERTAINTY, USING STATISTICAL
    TECHNIQUES.
    DATA ANALYSIS AND DECISION MAKING.
    DECISION MAKING AS FINANCIAL ANALYST,
    BUSINESS DECISIONS, OPERATIONS
    MANAGEMENT, FORMULATING BUSINESS
    STRATEGY

    SCOPE
    PART- I
    Business Decision Making under Uncertainty
    Understanding and Choosing correct
    Distribution.
    Application of Binomial Distribution
    Normal Distribution
    Poisson Distribution

    -contd

    Sampling and Estimation
    Application of Estimation
    Hypothesis Testing
    Testing Hypothesis for Single Population.
    Testing Hypothesis for Two Population.

    PART-II
    Chi-Square Test
    ANOVA
    Correlation and Regression
    Multiple Regression


    Decision Making Environment
    Deterministic Situation
    Stochastic or Risk Situation
    Situation of Uncertainty
    Objective
    Alternative Plans
    Decision Payoff

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