Course Title: Business Statistics Course Code:STA101 Prerequisite Course:

Credit: 3 Total Marks: 100 Contact Hour: 3 hours per week

Rationale: Statistics is the science that deals with the collection, description, analysis, interpretation,
and presentation of data. Statistics can be used to describe a particular data set (termed descriptive
statistics) as well as to draw conclusions about the population from a particular data set (termed
inferential statistics). Statistics in Business applies statistical methods in a business context in order to
address business related questions and help make evidence based decisions. In Statistics in
Business you will learn to apply commonly used statistical methods in business contexts and how to
interpret analyses performed by others.

Objectives:

Upon completion of this course, the student should be able to-

• Achieve a sound understanding of the theoretical and practical knowledge of statistics,

• Able to apply their statistical knowledge and skills throughout their future studies and careers.

Learning Outcomes Course Content Teaching/Learning Assessment Strategy

Strategy

 Able to What Is Statistics? Lecture, Discussion, Individual and Group

understand basic Group work exercise. presentation,
idea of the term What Is Meant By Assignment, Quiz,
‘statistics’. What Statistics? Types Of Question & Answer
Is Statistics? Statistics, Some Basic
Terminology Of
 Able to describe Statistics,
and learn use of Characteristics Of
statistics in Statistics, Importance,
Business related Applications Of
decision Statistics In social
research, Limitations
Of Statistics.

 Able to learn What Is Data, Types Of Lecture, Discussion, Assignment, Quiz,

how to collect Data, Types Of group exercise. Question & Answer
 data Variables, Levels Of Exercise,
Measurement
 Able to acquire (Nominal, Ordinal,
knowledge about Interval And Ratio).
different types of
data

 Able to Constructing A Lecture, Discussion, Group work,

Describing Data Frequency Table, Case study. Assignment, Quiz,
i.e. Frequency Constructing Question & Answer
Distributions And Frequency Exercise,
Graphic Distribution:
Presentation Quantitative Data,
Relative Frequency
Distribution, Graphic
Presentation Of A
Frequency
Distribution,
Cumulative Frequency
Distributions

 Able to Summary Statistics, A Lecture, discussion, Individual/group

understand Measure Of Central Group based exercise. presentation, Group
different Tendency: Arithmetic work, Assignment,
measures Of Mean, A Second Quiz, Question &
Central Tendency Measure Of Central Answer , Exercise
Tendency: Weighted
 Able to calculate Mean, A Third
different Measure Of Central
measures Of Tendency: Geometric
Central Tendency Mean, A Fourth
Measure Of Central
 Able to identify
Tendency: The
use of mean,
Median, A Final
median and
Measure Of Central
mode
Tendency: The
Mode,Quartiles,
Deciles And Percentiles

 Able to Why It Is Important? Lecture, discussion, Individual/group

understand Range, Dispersion: Group based exercise. presentation, Group
different Average Deviation work, Assignment,
measures Of Measures, Relative Quiz, Question &
Dispersion Dispersion: The Answer, Exercise
Coefficient Of
 Able to calculate
 different Variation.
measures Of
Dispersion

 Able to identify
use of different
measures Of
Dispersion

Able to describe data i.e. Stem-And-Leaf Lecture, discussion, Group work, Q & A,
displaying and exploring Displays; Quartiles, Group based exercise. Exercise, Assignment
Data Deciles And
Percentiles; Box Plot.

Able to calculate Measures Of Lecture, discussion, Group work, Q & A,

Skewness & Kurtosis Skewness, Measures Group based exercise. Exercise, Assignment
Of Kurtosis

 Able to What Is Correlation Lecture, discussion, Individual/group

understand basic Analysis? The Group based exercise. presentation, Group
idea of the Coefficient Of work, Assignment,
Correlation Correlation, The Quiz, Question &
Analysis Coefficient Of Answer, Exercise,
Determination, Testing
 Able to calculate The Significance Of The
the Coefficient Of Correlation Coefficient
Correlation and
the Coefficient Of
Determination

 Able to What Is Regression Lecture, discussion, Individual/group

understand basic Analysis, The Standard Group based exercise. presentation, Group
idea of the Error Of Estimate, work, Assignment,
Regression Assumptions Quiz, Question &
Analysis Underlying Linear Answer, Exercise
Regression, Confidence
 Able to calculate And Prediction
the regression Intervals, More On The
coefficient Coefficient Of
Determination; The
 Able to learn use
Relationships Among
of regression
The Coefficient Of
analysis
Correlation, The
Coefficient Of
Determination, And
 The Standard Error Of
Estimate

Able to develop the basic Defining An Index Lecture, discussion Quiz, Question &
idea about Index Number Number, Uses Of Index Answer, Exercise
Number, Methods Of
Constructing Index
Numbers

Able to learn about basic What Is A Probability? Lecture, discussion Quiz, Question &
probability Concepts Approaches To Answer
Assigning Probability,
Some Rules For
Computing Probability.

Able to develop the basic A Brief History Of Lecture, discussion Quiz, Question &
idea about Statistical Quality Control, Cause Answer,
Quality Control Of Variation, Purpose
And Types Of Quality
Control Charts

Recommended Books and Materials

Text Books: References:

Statistical Techniques in Business and Economics- 1. Business Statistics – S. P Gupta , M. P

Lind, D.A., Marchal, W.G. and Wathen, S.A. (16th
Edition), Mc-Graw Hill.
Gupta(latest).
2. David, R. Anderson, Dennis J. Sweeney
and Thomas A. Williams, Statistics for Business
and Economics (9th Edition).

3. Statistics for Management- Richard I.

Levin & David S. Rubin(latest).