GM03 - Business Statistics:

PART A

Set Theory: Set Theory- Functions and Applications

Defining Statistics, Statistics Data and Summary Measures, Basics of Statistics: Frequency

distribution and Graphical presentation of data, Measure of central tendency, measure of

dispersion, Standard Deviation and Computation, skew ness, moments and kurtosis

The Basics of Probability: Bayesian Theorem, Probability and Probability Distribution, uniform ,

Binomial and Poisson Distribution

Sampling and statistical Testing, Sampling Methods and Central Limit Theorem; Testing

Hypothesis: chi-square and its applications

Forecasting and Time Series Analysis, Forecasting: Components of Time series, smoothing

methods, Trend Projection, Regression and correlation

PART B

Management and Decision Making: Management and Decision-Making: Overview of

Operations Research Modeling Approach, Development of Operation Research

Linear Programming and Specially Structures Linear Programming: Formulation and Graphical

Solution, Simplex Method, Linear Programming Applications: Marketing Applications,

Production Management applications, Blending Problem, Manpower Planning, Financial

applications, Duality in LP, Sensitivity Analysis, Transportation, Transshipment and Assignment

Problem

Sequencing and Queuing Theory: The Problem, General Structure of Queuing Theory,

Operating Characteristics of queuing Theory, Models.

Decision Theory: Posterior Analysis, Decision Tree, Utility Theory: Utility as basis for Decision

making

Basic Concepts: Markov Chain, Simulation and Theory of games