Standardized Outline for Courses

Part A: Basic Details

Name of Course QUANTITATIVE TECHNIQUES - I

Course Instructor(s) Shounak Basak

(please provide email id) shounak@xlri.ac.in
Academic Associate(s)
NA
(please provide email id)

Area Production, Operations & Decision Sciences

Program BM 2020-22

Term 1

Type of Course
Core
(Core/Elective/Workshop)

Number of Credits 3

Number of Classroom Contact

30
Hours
Course Pre-requisites (if any,
including cut-off grades in None
specific core courses)
Levin, R. I., Rubin, D. S., Siddiqui, M. H., & Rastogi, S. (2017).
Course Textbook
Statistics for management. Noida: Pearson
Course Handout to be Provided
Slides will be shared via AIS
(Yes/No)
No. of Sessions to be taken by
NIL
Guest Faculty
Name of Guest Faculty (if
NA
identified)

Part B: About the Course

Page 1 of 5
 Standardized Outline for Courses

Course Description Concepts of probability; random variables and

Course Learning Objectives
Who is the course suitable for? (for electives
only)
their properties; decision making under
uncertainty; applications of the concepts in real
life situations, primarily with a focus on
management related situations.
The purpose of the course is to introduce the
students to the management of uncertainty in
managerial decisions. In this course, we shall
discuss situations where uncertainty plays a
role in the decisions involved and where the
assessment of uncertainty becomes imperative.
We shall also go over technical aspects like
axioms of probability, probability
computations, probability distributions,
summary measures of probability distributions
etc., along with a brief discussion of decision
theory.
The technical part of the course is developed
through a series of problems. Many of these
problems can be intuitively solved. While the
students will be encouraged to develop their
intuition, it is also expected from them to try
obtain a rigorous framework for handling such
problems, with the goal to develop skills to deal
with more complex situations. The concepts are
intuitive, but to master them the students will
need systematic study.
The text book will be an important tool in
developing the intended skillset. The students
will be expected to read and understand the
suggested parts of the text on their own, and
develop their skills to solve the problems given
in the book, and in class.
NA

Part C: AOL - Learning Goals Mapping at the Course Level*

AOL Learning Goal (PLO) Relevance for Course (put a tick)

Decision Making
√
Quest for Excellence
√
Sustainability

Page 2 of 5
 Standardized Outline for Courses

Global Mindset

Please indicate the rationale for choosing the Response:

specific learning goal(s) for this course
Decision Making: The goal of achieving the
ability to generate alternative solutions to a
problem and taking an integrated approach to
narrow down to an optimum solution fits the
aim of this course naturally.
Quest for Excellence: As this course expects
one to build on her/his logical abilities and
intuitions throughout the course, the goal of
achieving the ability to constantly raise the bar
in pursuit of higher standards is a natural fit for
this course.

*Description appended at the end of the document

Page 3 of 5
 Standardized Outline for Courses

Session Plan*

Pedagogy (Case
Studies/ in-class
Session
Session Topic Course Learning Objectives exercise/
No(s)
questionnaire/
presentations)
1-6 Theory of probability a) Different approaches to probability Lectures/in class
b) Computation of probability exercise/case
c) Conditional probability and independence analysis
d) Bayes’ rule and consequences
e) Sequence of events
7-10 Univariate Discrete a) Random variables Lectures/in class
Distributions b) Discrete random variables: concepts of p.m.f. and c.d.f. exercise
c) Concepts of expectation, variance and standard deviation
d) Standard discrete random variables: binomial, Poisson, geometric,
negative binomial and hypergeometric
11-13 Univariate Continuous a) Continuous random variables: concepts of density, c.d.f. and quantiles Lectures/in class
Distributions b) Standard continuous random variables: uniform, normal, exponential exercise
and gamma
14-16 Joint and Conditional a) Joint, marginal & conditional distributions. Lectures/in class
Distributions (Discrete b) Multinomial distribution. exercise
Variables Only) c) Expectation and variance of sum of random variables.
d) Covariance.
17 Central Limit Theorem a) Idea of random sampling. Lectures/in class
b) Central limit theorem and applications. exercise
18-20 Decision Theory a) Decisions under uncertainty Lectures/in class
b) Sequential decision making: decision tree exercise
c) Expected value of perfect information and expected value of sample
information
Note: - The course instructor may modify the sequence of topics or coverage based on initial experience and the mid-course review.

For Attendance Norms please refer to section 10 of the Student’s Manual.

Page 4 of 5
 Standardized Outline for Courses

For Evaluation and Grading Norms refer to sections 20, 21 and 22 of the Student’s Manual.

For Disciplinary Action refer to sections 26 and 27 of the Student’s Manual.

Details of Evaluation Components

Evaluation Module Yes/No Weightage for the PLO sub-dimension measured Average Number of Hours of Work
Evaluation Component1 Outside Classroom2
Mid-Term Yes 30 Quest for excellence: standards of 20 hours
performance, continuous learning
End-Term Yes 40 Quest for excellence: standards of 30 hours
performance, continuous learning
Quizzes Yes 15 x 2 = 30 Decision Making: all 10 x 2 = 20 hours

Assignments No

Class Participation No

Presentation No

Page 5 of 5