SVKM’s NMIMS ASMSOC – Course Outline

Course
Code
Course Quantitative Techniques
Title
Course
Veerendra Anchan, Dr. Navneet Bhatt
Instructor/s
Course 4
Credit
Program F.Y. B. Com. (Hons.)– Semester II
and
Semester
Pre- Student should be well versed with the basic concepts of basic
Requisite mathematics & statistics concepts including graphs like bar chart, line
chart, pie chart etc.
Learning 1. The course familiarizes learner with the role of mathematical and
Objectives statistical methods to develop actionable insights for formulating
strategies.
2. Developing skills for analysis and interpretation of the data which is
used in decision making
3. Demonstrate the ability to develop models / frameworks to reflect
critically on specific business contexts
4. To provide elementary but comprehensive introduction to application-
based problems in Quantitative Techniques, without resorting to
complex matrix algebra, calculus, statistics, etc., beyond the elementary
level of the students understanding
5. Effect on Global Business using application of statistics with the help
of Data Analysis in MS Excel.
6. Developing Risk taking ability using statistical & mathematical
concept.

Learning At the end of the course module, the students should be able to:
Outcomes
1. Appreciate the significance and the value of the application of the
principles of Quantitative Techniques in the use of scientific
methodology of management.
2. To understand the various issues involved in the collection, analysis and
arriving at conclusive decisions regarding quantitative data.
3. To understand and appreciate the practical relevance of various basic
statistical tools in the field of finance, economics, marketing, human
resources, manufacturing and so on.
Course The objective of the course is to encourage students to learn and to
Description appreciate the use of the various tools of Quantitative Techniques with
regard to scientific management in various businesses. Hence,
 1. Short case studies would be either discussed in class or would be given
to students as assignments for submission
2. Pertaining to the topic covered, students would be given project/field
work for better understanding of the topic. These will be of practical
nature.
3. Use of Excel to solve problems/draw diagrams would be shown and
interpreting the results will be emphasized more.

Important Note:
1. The topics and subject matter selected pertain to their subsequent
applications in, say, Economics, Finance, Statistics, Operations
Research, Quantitative Techniques in Business, Marketing, and others.
2. Problems should be application based.
3. Trigonometry Excluded.
4. Problems given to the students should test them more in terms of
concepts and logical reasoning. Problems involving detailed
calculations/simplifications to be avoided.
5. Use of Simple as well as Scientific Calculator is allowed in the
examination. Financial calculators, GDC calculators are not
allowed.
Evaluation Specific % AOL
Intended CLOs to
Pattern Assessment Weightag Instruments
be Assessed
Methods / e
Task
CLO1 CLO2
Class 60% (30) Assignments.  
Activities/ Tests
Quiz/Test/
Continuou
s
Assessment

Excel 40% (20) Project  

Projects

Course Session Plan

SESSION OUTLINE FOR BUSINESS MATHEMATICS IN QUANTITATIVE

TECHNIQUES
Session Topics / Module Chapters (Mention Page
Numbers) / Articles / Cases
/ Material and Activities
DETERMINANTS AND MATRICES Module Wise Reference
1-8 Introduction to Determinants Books:
 (Only second and third order).
(Omit: Properties of determinants). a) Business Mathematics –
Cramer’s Rule for second and third order Qazi. Chapter 29. Pages 815
determinants. to 907)
Introduction to Matrices.
Types. Addition/subtraction/multiplication b) Business Mathematics.
(Multiplication of two matrices)/transpose/ad Vaidya Kumtha. Chapters 5,
joint/inverse of matrices. Solving 2 and 3 6 , 7 , 8. Pages 141 to 221
variables problems. (Using Row Elementary
Operations) Input-Output Matrix Class room sessions
(Up to 3x3)

Outcomes:
Concepts and understanding of Determinants &
Matrices will help the students to apply it in
real life scenarios of Finance, IT, Geological,
Vital statistics etc
9-10 FUNCTIONS Module Wise Reference
a) Functions and types of Functions: Implicit, Books:
Explicit, single-valued, multi-valued, a) Essential Maths for
monotonic, constant, polynomial, Economic
exponential, logarithmic. (Only concepts). Analysis – Knut, et al. –
b) Economic application of functions (pearson)
(Problems included): Demand and Supply b) Quantitative Methods –
Functions, Break-even Point. Cost Function. S.Saha,
S. Mukherji –(central)
Total Revenue Function. Profit Function.

Outcomes: Class room sessions

Understanding of how a particular equation are
interpreted with their applications in Business
& Economics.

11-20 DERIVATIVES AND ITS APPLICATIONS Module Wise Reference

TO BUSINESS & ECONOMICS Books:
(Derivations of formulae omitted) a) Fundamental Methods
Introduction, rate of change (Only concepts). of
Types of derivatives – constant, algebraic, Mathematical
polynomial, exponential, logarithmic. First and Economics – Chiang –
second order derivatives. Rules for derivatives – (McGraw Hill)
sum/difference, product, quotient, and chain
rule. Marginal Cost / Supply /Revenue
b) Quantitative Methods –
functions. Maxima / Minima. Profit Function. S.Saha, S. Mukherji –
Elasticity of Demand /Supply/Cost. (Central)
Optimization Problems.

Outcomes: Class room sessions

 Understanding of how a particular function
change at one given point with its real-life
applications in Business & Economics.

SESSION OUTLINE FOR BUSINESS STATISTICS IN QUANTITATIVE TECHNIQUES

21-33 DESCRIPTIVE STATISTICS FOR Module Wise Reference

UNIVARIATE DATA Books:
a) Applied Business
Introduction to Statistics: Types of Data. Data Statistics-Ken Black -Chapter
Collection Methods. Census and Sample Survey. 1 –Pages 4 To 10, Chapter 2–
Advantages and limitations of Statistics. Pages 5 To 41
Statistical Methods versus Experimental Chapter 4- Pages 4.2 To 4.49
Methods (Concepts only) b) Statistics For Management
Pearson- Levin, Rubin-
Presentation of Data: Tabular (frequency Chapter 2-Pages 33 To 46
distribution) and graphical (frequency polygon, c) Statistics For
curves, Ogives, histograms) (Problems Management- Srivastava,
Included) Shailaja
Chapter 1- Pages1.2 To 1.7,
Measures of Central Tendency: Arithmetic Chapter 3 Pages 3.6 To 3.15
Mean, Median, Mode (Omit geometric and d) Statistics (Theory
harmonic means), their properties and Methods &
applications Applications)-Sancheti,
(Problems Included) V.K.Kapoor-
Chapter 1- Pages. 2.2 To 2.6,
Measures of Dispersion: Absolute and Relative 3.32 To 3.41
Measures → Range and Coefficient of Range, e) Quantitative Methods-
Mean Deviations and Coefficients of Mean Nazneen, Et Al.
Deviations, Quartile Deviation and its Chapter 1- Pages 7 To 11
Coefficient, Standard Deviation(Coefficient of f) Statistics For Business
Variation), Variance. And Economics-
Anderson, Sweeney &
Williams –
Chapter 3-Pages 76 To 86
g) Statistics For
Management - Pearson-
Levin, Rubin –
Chapter 3- Pages 105 To 130

Class Room Sessions With

Applications In Ms Excel.

34-40 FORECASTING TECHNIQUES Module Wise Reference

Books:
Correlation and Regression: Karl Pearson’s
Coefficient of Correlation (Properties and
 Calculations); Spearman’s Rank Correlation a) Applied Business
Coefficient (Repeated and Non-Repeated ranks); Statistics-Ken Black- Chapter
Linear Regression Equations using Least Square 12–Pages 470 to 482
method and Regression Coefficient Method b) Statistics For Business
And Economics-
Time Series: Components, Additive and Anderson, Sweeney &
Multiplicative Models. Estimation of Linear Williams
Trend by Chapter 14-Pages 554 to 568
(i) Moving Averages (3 yearly, 4 yearly and 5 c) Statistics (Theory Methods
yearly) (ii)Least Square Method & Applications)
Sancheti, V.K. Kapoor –
Chapter 8- pages 8.2 to
8.28,8.38 to 8.47,Chapter 9-
pages 9.2 to 9.55
d) Statistical Methods. S.P.
Gupta. Pages 536 to 558.
Pages 565 to 576. Pages 612
to 641.
e) Business Statistics. A.V.
Deshpande. Chapters 9 and
10. Pages 171 to 214
41-53 PROBABILITY AND PROBABILITY Module Wise Reference
DISTRIBUTIONS Books:

Probability: Sample space as a concept. Statistical Methods – S.P.

Different types of events. Definition of Gupta. Pages 752 to 804.
Probability. Addition and Multiplicative Laws. Pages 806 to 852
Conditional Probability. Bayes’ Theorem.
(Problems included)

Probability Distributions: Random Variable.

Expectation and Variance. Probability
Distributions – Binomial, Poisson, Normal
(Reading of Standard Normal Table).

Outcomes: Class room sessions with

The concept clarity of probability and Applications in MS Excel.
distributions will help students to interpret and
identify the degree of risk a business decision
involves. Wide applications are seen in all the
fields.
54-60 Application of Statistical Techniques Module Wise Reference
{MS Excel] - Statistical Computing Books:
a) The Excel Data And
Descriptive Statistics [Mean, Median, Mode, Statistics Cookbook,
variance, standard deviation, Skewness, Third Edition by
kurtosis]. Larry Pace
 Correlation analysis and Linear Regression b) Excel Data Analysis (Book
Analysis using Data Analysis of MS Excel. By Jinjer L. Simon)
Scatter Diagram, Histogram, Frequency Originally Published: 2003
Polygon, Ogives from Chart output Author: Jinjer L. Simon
Projects and Case Study for discussion and
projects and Interpretation of results.

Forecasting in Time Series.

Normal Curve and properties. Hands-on exercise in excel

with learning interpretations
Outcomes: for the analysis.
Students will understand the application of
various statistical techniques using MS Excel
which is widely used in many different
industries and also hands on experience of Data
Analysis tool in MS Excel.

Note:
Module IV of Business Statistics: Application of
Statistical Techniques
{MS Excel} - Statistical Computing is only for
ICA project in MS Excel for 10 Marks, the
module won’t be used in Theory Exams.
Industries are opting for students who have
statistical knowledge in software especially like
MS Excel. So, Introducing MS Excel to the
module will help the students to have an in-
depth knowledge about statistical techniques
studied in the class and projects in MS Excel will
help them interpret the result.

Reference Books:
FOR BUSINESS MATHEMATICS
Reading Title Author(s) Publisher
List and
References ESSENTIAL Knut Sydsaeter, Pearson India
MATHEMATICS FOR Peter
ECONOMIC ANALYSIS Hammond, Arne
(4th Edition) Strom
BUSINESS Kashyap Trivedi, Pearson India
MATHEMATICS Chirag Trivedi
(2011)
BUSINESS Qazi Vikas Publishing House
MATHEMATICS Zameeruddin,
(2nd Edition) V.K. Khanna, S.K.
Bhambri
ELEMENTARY Dr (Mrs) Pratibha Sheth Publishers
MATHEMATICS FOR Borwankar
ECONOMICS
(TY BBA, Mumbai Univ. 1st
Edition)
MATHEMATICS AND G.S. Monga Vikas Publishing House
STATISTICS FOR
ECONOMICS
(2nd Revised Edition)
MATHEMATICS AND K.B. Akhilesh, S. Vikas Publishing House
STATISTICS FOR Balasubrahmanya
MANAGEMENT (2007) m

ENGINEERING Jose A. Tata McGraw Hill

ECONOMICS (Schaum’s Sepulveda, Publishing
Outline Series) (2004) William E.
Souder,
Byron S. Gottfried
DISCRETE SemourLipschutz, McGraw Hill Education
MATHEMATICS Marc Lars Lipson India
(Schaum’s Outline
Series)(3rd Edition)

FUNDAMENTAL Alpha C. Chiang McGraw-Hill

METHODS OF International
MATHEMATICAL
ECONOMICS (93rd
Edition)

Reference Books:
FOR BUSINESS STATISTICS
Title Author(s) Publisher
STATISTICS FOR Richard L.Levin, PEARSON
MANAGEMENT David S.Rubin
[Seventh Edition]
STATISTICS FOR Anderson,Sweene CENGAGE Learning
BUSINESS y,
 AND ECONOMICS Williams
[India Edition]
APPLIED BUSINESS Ken Black Wiley India Edition
STATISTICS-MAKING
BETTER BUSINESS
DECISIONS
[Seventh Edition]
STATISTICS[THEORY, D.C.Sancheti, Sultan Chand & Sons
METHODS & V.K.Kapoor
APPLICATIONS]
[Seventh Edition]
BUSINESS STATISTICS N.D.Vohra McGraw Hill Education
[Second Reprint]

STATISTICS FOR T.N.Srivastava, McGraw Hill Education

MANAGEMENT Shailaja Rego
[Second Edition]
QUANTITATIVE S.Saha, S.Mukherji Central Book Agency
METHODS
[Fifth Edition]
STATISTICAL S.P.Gupta Sultan Chand & Sons
METHODS
[Forty Fourth Revised
Edition]
QUANTITATIVE Nazneen Khan, Himalaya Publishing
METHODS Dr. House
Abhilasha, Rajiv
Mishra
THE EXCEL DATA AND Larry Pace
STATISTICS
COOKBOOK,
THIRD EDITION
EXCEL DATA ANALYSIS Jinjer L. Simon

Prepared by Faculty Approved by Program Approved by Associate Deans

Members Chairperson
Mr. Veerendra Anchan

Approved by I/C Dean –

ASM SOC