QT

Hypothesis Testing

Hypothesis is an assumption about a population parameters to be tested. Assumptions or guesses

are made about the hypothesis which may or may not be true, such assumptions is known as
hypothesis. The theory of hypothesis was given by J. Nayman and E.S Pearson.

There are two types of hypothesis

1. Simple Hypothesis
2. Composite Hypothesis

Null Hypothesis: It is the hypothesis which is tested for possible rejection under the assumption that
it is true.

Alternative Hypothesis: It is complementary to the null Hypothesis.

Level of Significance: It is the maximum probability of rejecting the null hypothesis when it is true.

Test statistics: there are 4 types of test statistics, Z-Test, t-Test, Chi-Square and F-Test

Steps for Testing the Hypothesis

1. Set up the Null Hypothesis

2. Set up Alternative Hypothesis
3. Identify the Sample Statistics to be used and its sampling distribution
4. Define and compute Test Statistics under H0
5. Specify the level of significance
6. Compute the value of test statistics
7. Find Critical Value of the test statistics at selected level of significance
8. Specify the result, whether H0 is accepted or rejected.

Components of Time Series

A time series is a set of statistical observations arranged in chronological order. It helps in planning
and forecasting, understanding the past behaviour and estimating future behaviour, comparison of
data of one period with another is possible, evaluation of progress in any field.

Observation of Time series are affected by many factors. These can be categorised into four
categories:

1. Secular Trend: The general tendency of time series to increase, decrease or remain
constant during long period of time is known as secular trend. For example: Increase in
the price of Gold during past years is upward trend.
2. Seasonal Variation: The regular, periodic and short term variations in time series is called
seasonal variation. It is generally within one year and is predictable. For example:
Umbrellas are sold more in rainy season.
3. Cyclic Variation: Cyclic Variations, also known as business cycles are periodic up and
down movements. These stages are : - i) Prosperity ii) Decline iii) Depression iv)
improvement. Generally the period is 3-10 years.
4. Irregular variations: It is the irregular movement of data over the period of time. These
variations are not regular and are unexpected. For example: Sudden increase of death
rate due to earthquake, tsunami.
Forecasting Methods

A time series is a set of statistical observations arranged in chronological order. It helps in planning
and forecasting, understanding the past behaviour and estimating future behaviour, comparison of
data of one period with another is possible and for evaluation of progress in any field.

Methods to forecast and measure:

1. Graphical Method: It is the simplest, most flexible and adaptable method of studying
trend. The original data is plotted on the graph. No rigid mathematical formula is laid
down for drawing the trend line.
2. Semi- Average Method: In this method the original data is divided into two equal parts
and the average is calculated for both the parts. These averages are plotted on graph
and a straight line is plotted.
3. Moving Average Method: This method is based on arithmetic mean. It is calculated for
successive overlapping groups of time series. The time period for moving average is 3 or
4 or 5 years.
4. Least Square Method: It is a mathematical method of measuring trend. Mathematical
equations can be fitted in the time series which can be linear, quadratic or exponential.

Application of Matrices in Real World

The Matrices are the arrangements of variables, numbers symbols, or expressions in a rectangular
table with varied numbers of columns and rows. The numbers or entries make up the matrix. The
horizontal entries are rows and the vertical entries are columns.

Uses of Matrices in Real life:

1. Encryption – We use it to scramble data for security purposes, and to encode and decode
this data, we require matrices.
2. Games especially 3D – We use it to alter the object, in 3d space.
3. Economics and Business -To study the trends of a business, shares, etc. and to create
business models etc.
4. Physics – Matrices are applied in the study of quantum mechanics, electrical circuits, and
optics.
5. Geology – Matrices are used for taking seismic surveys.
6. Graphics – Digital images are referred to as matrices when used in graphic design. 

Univariate, Bivariate and Multivariate Analysis

In the field of data, there is nothing more important than understanding the data that you are trying
to analyse. In order to understand the data is it important to understand the purpose of the analysis.

1. Univariate Analysis: This type of data consists of only one variable. The analysis of univariate
data is simplest form of analysis since the information deals with only one quantity that
changes. The central tendency measures, dispersion or spread of data, using frequency
distribution tables, histograms, etc. help us analyse univariate data.
 2. Bivariate Analysis: This type of data involves two different variables. The analysis of this type
of data deals with causes and relationships and the analysis is done to find out the
relationship among the two variables. These variables are often plotted on X and Y axis on
the graph for better understanding.
3. Multivariate Analysis: When the data involves three or more variables, it is categorized
under multivariate. It is similar to bivariate but contains more than one dependent variable.
Various techniques to measure multivariate data are regression analysis, path analysis,
factor analysis and multivariate analysis of variance (MANOVA).

RDBMS
Components of DBMS Environment

A database environment is a collective system of components that comprise and regulates the group
of data, management, and use of data, which consist of software, hardware, people, techniques of
handling database, and the data also.

1. Hardware- The computer, hard disk and any other physical components in which any data is
successfully stored is hardware. This DBMS component is used for keeping and storing the
data in the database.
2. Software- This is the set of programs used to control and manage the overall database. This
includes the DBMS software itself, the operating system, the network software being used to
share the data among users, and the application program used to access data in the DBMS.
3. Data- The main task of DBMS is to process the data. Here database are defined, constructed,
and then data is stored, retrieved, and updated to and forms the database. It is the most
important component of the database management system.
4. Procedures- These are the instructions and rules that assist on how to use the DBMS, and in
designing and running the database, using documented procedures, to guide the users that
operate and manage it.
5. People- The people are who control and manage the databases and perform different types
of operations on the database in the DBMS. The people includes database administrator,
software developer and End user. Two users are Software Developer and the End User.

Normalisation and Normal Forms

Normalization is the process of minimizing redundancy from a relation or set of relations.

Redundancy in relation may cause insertion, deletion, and update anomalies. So, it helps to minimize
the redundancy in relations. Normal forms are used to eliminate or reduce redundancy in database
tables.

1. First Normal Form –If a relation contain composite or multi-valued attribute, it violates first
normal form or a relation is in first normal form if it does not contain any composite or
multi-valued attribute. A relation is in first normal form if every attribute in that relation
is singled valued attribute.
2. Second Normal Form –To be in second normal form, a relation must be in first normal form
and relation must not contain any partial dependency. A relation is no non-prime attribute,
which is dependent on any proper subset of any candidate key of the table.
3. Third Normal Form –A relation is in third normal form, if there is no transitive
dependency for non-prime attributes as well as it is in second normal form.
 4. Boyce-Codd Normal Form (BCNF) –A relation R is in BCNF if R is in Third Normal Form and for
every FD, LHS is super key.

Entity Relationship Diagram

Entity relationship (ER) models are based on the real-world entities and their relationships. It is easy
for the developers to understand the system by simply looking at the ER diagram. ER models are
normally represented by ER-diagrams.

Components of ER Diagram:-

ER diagram basically having three components:

1. Entities − It is a real-world thing which can be a person, place, or even a concept. For
Example: Department, Admin, Courses, Teachers, Students, Building, etc. are some of the
entities of a School Management System.
2. Attributes − an entity which contains a real-world property called an attribute. For Example:
The entity employee has the property like employee id, salary, age, etc.
3. Relationship − Relationship tells how two attributes are related. For Example: Employee
works for a department.

Few advantages of ER Model are:

1. The ER model is easy to build.

2. This model is widely used by database designers for communicating their ideas.
3. This model can easily convert to any other model like network model, hierarchical model
etc.
4. It is integrated with the dominant relational model.

DDL, DML and DCL Commands

Structured Query Language (SQL) as we all know is the database language by the use of which we
can perform certain operations on the existing database and also we can use this language to create
a database. 

1. DDL: DDL or Data Definition Language actually consists of the SQL commands that can be
used to define the database schema. It simply deals with descriptions of the database
schema and is used to create and modify the structure of database objects in the database.
DDL is a set of SQL commands used to create, modify, and delete database structures but
not data.
2. DML: The SQL commands that deals with the manipulation of data present in the database
belong to DML or Data Manipulation Language and this includes most of the SQL
statements. It is the component of the SQL statement that controls access to data and to the
database.
3. DCL: DCL or Data Control Language includes commands such as GRANT and REVOKE which
mainly deal with the rights, permissions, and other controls of the database system. 

Various Keys
A key refers to an attribute/a set of attributes that help us identify a row (or tuple) uniquely in a
table (or relation). A key is also used when we want to establish relationships between the different
columns and tables of a relational database. The individual values present in a key are commonly
referred to as key values.

1. Primary Key: The primary key refers to a column or a set of columns of a table that helps us
identify all the records uniquely present in that table. The primary key constraint that we put
on a column/set of columns won’t allow these to have a null value or a duplicate.
2. Super Key: A super key refers to the set of all those keys that help us uniquely identify all the
rows present in a table. It means that all of these columns present in a table that can identify
the columns of that table uniquely act as the super keys.
3. Candidate Key: The candidate keys refer to those attributes that identify rows uniquely in a
table. In a table, we select the primary key from a candidate key. Thus, a candidate key has
similar properties as that of the primary keys.
4. Alternate Key: Any table can consist of multiple choices for the primary key. But, it can only
choose one. Thus, all those keys that did not become a primary key are known as alternate
keys.
5. Foreign Key: We use a foreign key to establish relationships between two available tables.
The foreign key would require every value present in a column/set of columns to match the
referential table’s primary key. A foreign key helps us to maintain data as well as referential
integrity.
6. Composite Key: The composite key refers to a set of multiple attributes that help us uniquely
identify every tuple present in a table. The attributes present in a set may not be unique
whenever we consider them separately.
7. Unique Key: A unique key refers to a column/a set of columns that identify every record
uniquely in a table. All the values in this key would have to be unique. It is only capable of
having one null value.

MM
Advertising and its types

According to American Marketing Association “Advertising is any paid form of nonpersonal

presentation and promotion of ideas, goods and services by an identified sponsor.”

Advertising has many types:

1. Area Coverage: A product or a service can be provided in in many or few locations. This type
of advertising is based area of coverage. It is further divided into four categories; Local,
Regional, National and International.
2. Audience: The consumers of different goods and services are categorised. This type of
advertising is based on audience. It is further divided into four categories; Consumer
advertising, Industrial advertising, Trade advertising and Professional advertising.
3. Media: There are different channels through which a prospective consumer identifies his
needs and look for the product. This type of advertising is based on media. It is further
divided into three categories; Print Media advertising, Electronic/ Broadcast Media
advertising and Outdoor Media advertising.
 4. Function: There are different reasons for advertising a product or service. Some products
cannot be advertised but needs to be sold. This type of advertising is based on function. It is
further divided into four categories; Direct Action and Indirect Action Advertising, Primary
and Selective Advertising, Product and Institutional Advertising.
5. Stage: If a new product or service is launched, it has to be advertised. There are different
stages of this advertising. This type of advertising is based on stage. It is further divided into
three categories; advertising at pioneering stage, advertising at competitive stage and
advertising at retentive stage.

AIDAS Model

The AIDAS theory of selling is one of the widest known theories and is the basis for training materials
across numerous organizations. AIDAS stands for Attention, Interest, Desire, Action, and Satisfaction.
A prospect goes through five different stages before finally responding satisfactorily to any product.

1. Attention - The initial attempt of the sales person must be to put the customer completely at
ease. Casual conversation is one of the best openers after which the sales person can gain
customer attention by leading him onto the sale.
2. Interest - Once you have gained attention, it is very important to maintain interest. Some
sales people are very good in the opening but as the technicalities take over, they become
uncomfortable while explaining the product.
3. Desire - A sales person has to create enough desire in the customers mind such that he
immediately has to buy the product. Kindling that desire becomes an integral part of the
AIDAS selling theory.
4. Action - Although there may be desire for the product, the customer might not act on it. He
might want to buy the product but he might NOT buy it. It is important for the sales person
to understand whether to directly induce the customer.
5. Satisfaction – The sales person need to reassure the customer that he has made the right
decision. The product is good for the customer and you only presented the product. It was
his decision and he is right about it.

Consumer Behaviour and Types of Consumers

Consumer Behaviour is defined as the actions and decision processes of people who purchase goods
and services for personal consumption.

CRM

CRM is about acquiring, developing and retaining satisfied loyal customer, achieving profitable
growth, and creating economic value in a company’s brand.

Objectives of CRM:

(1) To simplify marketing and sales process.

(2) To make call centre’s more efficient.
(3) To provide better customer service.
(4) To discover new customers and increase customer revenue.
(5) To cross sell products more effectively.
Benefits of CRM:

(1) Provide Better Customer Service.

(2) Increase Customers Revenues.
(3) Discover New Customers.
(4) “Cross Sell” and “Up Sell”.
(5) Help Sales Staff Close Deals Faster.
(6) Customer Loyalty, Delight and Satisfaction

SM
Characteristics of Service

A service is any activity or benefit that one party can offer to another, which is essentially intangible
and does not result in the ownership of anything. Its production may or may not be tied to a physical
product.

1. Perishability: Service is highly perishable and time element has great significance in service
marketing. Service if not used in time is lost forever. Service cannot stored.

2. Fluctuating Demand: Service demand has high degree of fluctuations. The changes in demand can
be seasonal or by weeks, days or even hours. Most of the services have peak demand in peak hours,
normal demand and low demand on off-period time.

3. Intangibility: Unlike product, service cannot be touched or sensed, tested or felt before they are
availed. A service is an abstract phenomenon.

4. Inseparability: Personal service cannot be separated from the individual and some personalised
services are created and consumed simultaneously. For example hair cut is not possible without the
presence of an individual. A doctor can only treat when his patient is present.

5. Heterogeneity: The features of service by a provider cannot be uniform or standardised. A doctor

can charge much higher fee to a rich client and take much low from a poor patient.

6. Pricing of Services: Pricing decision about services are influenced by perishability, fluctuation in
demand and inseparability. Quality of a service cannot be carefully standardised. Pricing of services
is dependent on demand and competition where variable pricing may be used.

7P’s of Service Marketing

A service is any activity or benefit that one party can offer to another, which is essentially intangible
and does not result in the ownership of anything. Its production may or may not be tied to a physical
product.

1. Product (Service): The services usually fall under the category of intangible products from the
company’s perspective. The focus of the company is to inform the customer about the service that
the product carries and how it’s going to satisfy the needs and wants of customers. For Example: The
service product is deck cleaning or carpet cleaning.

2. Price: The price strategies of the company impact how the target customers would respond to the
discounts, fees, and prices. In fact, customers use price as an indicator to determine the quality of
the product/service.
3. Place: Location plays a very important role because the company wants customers to visit its place
or store in order to sell its products/services. Customers usually buy services in proximity to their
residence. For Example Banking services offer online/offline platforms to execute various functions
like paying bills, transferring money, making a deposit, or other types of transactions.

4. Promotion: The focus of promotions is to inform potential customers about the brand and the
quality of its products and services. Marketing and promotion would help you to distinguish yourself
from the competitors.

5. People: It’s those people who work for the company and provide customer service. They can
impact the service and customer satisfaction level because they offer them services. Customers
usually attach services with those people who directly provide them

6. Process: Companies launch training and development programs for their employees as a set of
processes so that they could perform better service to customers. The process makes sure that the
employees have the capability to offer customer service efficiently and be consistent with the quality
standards.

7. Physical Evidence: The physical aspect of the company makes it easier for the customers to
determine the quality of the product/service that the company is offering. Physical evidence
comprises tangible elements, service providing place, or something physical as proof of shopping.

Servqual Model

It is a method to capture and measure the service quality experienced by customers. The SERVQUAL
Model enables organisations to learn which factors play a role how the customer’s expectancy
pattern is formed. That way, the organisation can improve itself and take this expectancy pattern
into account beforehand.

5 Gaps of Servqual Model:

(1) Knowledge gap: A gap arises when an organisation’s knowledge of customer expectations is
lacking, preventing them from approaching consumers in the right way.
(2) Standards gap: The organisation has already formed its own idea about what the customer
expects from their service. If this idea is wrong from the start and does not correspond to
what customers actually expect, there is a significant risk that the organisation will translate
falsely.
(3) Delivery gap: A gap can also occur when the organisation offers service that is different from
what the consumer had expected. This also involves an incorrect implementation.
(4) Communications gap: Sometimes, the external (marketing) communication that the
organisation sends out, can create the wrong expectations among customers. It also
happens that the organisation communicates and promises things that are not in line with
what they can actually deliver.
(5) Satisfaction gap: Dissatisfaction results from a (significant) difference between the service a
customer expects and the service they actually experience. Eventually, this will lead to the
biggest gap in the experience of quality.
Fish Bone Diagram

A fish-bone diagram is one of the seven quality circles (QC) tools. It helps to visualize the potential
causes in order to find the root cause of a particular problem. It helps to identify, analyse and
improve quality issues. Sometimes, it can also be helpful to analyse what can go wrong - preventing
future problems. It derives its name for its shape which resembles the side view of the skeleton of a
fish. 

Components of Fish Bone Diagram:

1. The "head" of the skeleton depicts the problem or effect, which is usually shown on the
right. 
2. The "bones" extend on the left to show the different causes. 
3. The “ribs” denote categories or classification of causes for the analysis, which branch out
into causes and sub causes. 
4. The branching depends on the levels required under each classification.

The 6 general categories of analysis are:

(1) Man
(2) Machine
(3) Material
(4) Method
(5) Measurement
(6) Mother Nature/ Milieu (Environment)

Pareto Chart

A Pareto chart is a bar graph. The lengths of the bars represent frequency or cost (time or money),
and are arranged with longest bars on the left and the shortest to the right. In this way the chart
visually depicts which situations are more significant. This cause analysis tool is considered one of
the seven basic quality tools. It was invented by Vilfredo Pareto, an Italian engineer and economist.

Steps to make a Pareto Chart:

1. Decide what categories you will use to group items.

2. Decide what measurement is appropriate. Common measurements are frequency, quantity,
cost and time.
3. Decide what period of time the Pareto chart will cover: One work cycle? One full day? A
week?
4. Collect the data, recording the category each time, or assemble data that already exist.
5. Subtotal the measurements for each category.
6. Determine the appropriate scale for the measurements you have collected. The maximum
value will be the largest subtotal from step 5. Mark the scale on the left side of the chart.
7. Construct and label bars for each category. Place the tallest at the far left, then the next
tallest to its right, and so on. If there are many categories with small measurements, they
can be grouped as “other.”
 BE and CSR
Principle of Business Ethics

Business ethics refers to implementing appropriate business policies and practices with regard to
arguably controversial subjects. It is the prescribed code of conduct for businesses. It is a set of
guidelines for dealing with various procedures ethically.

1. Leadership: The conscious effort to adopt, integrate, and emulate the other 11 principles to
guide decisions and behaviour in all aspects of professional and personal life.
2. Accountability: Holding yourself and others responsible for their actions. Commitment to
following ethical practices and ensuring others follow ethics guidelines.
3. Integrity: Incorporates other principles—honesty, trustworthiness, and reliability. Someone
with integrity consistently does the right thing and strives to hold themselves to a higher
standard.
4. Respect for others: To foster ethical behaviour and environments in the workplace,
respecting others is a critical component. Everyone deserves dignity, privacy, equality,
opportunity, compassion, and empathy.
5. Honesty: Truth in all matters is key to fostering an ethical climate. Partial truths, omissions,
and under or overstating don't help a business improve its performance. Bad news should be
communicated and received in the same manner as good news so that solutions can be
developed.
6. Respect for laws: Ethical leadership should include enforcing all local, state, and federal laws.
If there is a legal grey area, leaders should err on the side of legality rather than exploiting a
gap.
7. Responsibility: Promote ownership within an organization, allow employees to be
responsible for their work, and be accountable for yours.
8. Transparency: Stakeholders are people with an interest in a business, such as shareholders,
employees, the community a firm operates in, and the family members of the employees.
Without divulging trade secrets, companies should ensure information about their financials,
price changes, hiring and firing practices, wages and salaries, and promotions are available
to those interested in the business's success.
9. Compassion: Employees, the community surrounding a business, business partners, and
customers should all be treated with concern for their well-being.
10. Fairness: Everyone should have the same opportunities and be treated the same. If a
practice or behaviour would make you feel uncomfortable or place personal or corporate
benefit in front of equality, common courtesy, and respect, it is likely not fair.
11. Loyalty: Leadership should demonstrate confidentially and commitment to their employees
and the company. Inspiring loyalty in employees and management ensures that they are
committed to best practices.
12. Environmental concern: In a world where resources are limited, ecosystems have been
damaged by past practices, and the climate is changing, it is of utmost importance to be
aware of and concerned about the environmental impacts a business has. All employees
should be encouraged to discover and report solutions for practices that can add to damages
already done.
Role of Scriptures in Business

Business ethics refers to implementing appropriate business policies and practices with regard to
arguably controversial subjects. It is the prescribed code of conduct for businesses. It is a set of
guidelines for dealing with various procedures ethically.

Two teachings from Hindu Scriptures

1. The process is important, not just the performance: Measure the journey itself, not just the
outcome! The Hindu scripture Bhagwad Gita stresses a focus on karma. As companies
measure the ultimate profit margins and return on equity, it is important to measure the
current process itself.
2. Efficient management lies in utilizing resources optimally: Pick up the right people for the
right task. The team also needs to be motivated by what a manager highly thinks of them.
Ram has had his faith in Nal and Nil while assigning them the duty.

Two teaching from Islamic Scriptures

1. Division of Work: The concept of specialization increases the output and productivity which
in turn helps to be more efficient and fruitful. The holy book says to be kind to your
followers and also consult with them in your affairs.
2. Obedience and Responsibility for authority: The holy book says follow the God, The
Messenger and those in position of authority among you. Working through people actually
presuppose the willingness of people to obey.

Two teachings from Sikh Scriptures

1. Be fearless when trying something new: The Guru Granth Sahib is full of examples of being
fearless against all the odds, especially when the odds look mighty. In the business world
there are often tricky situations and people will dissuade you from trying unconventional
tactics, even if it’s apparent that conventional solutions will fail.
2. Remain Humble: Guru Nanak showed the virtue of being humble and compassionate, even
to one’s hardest critics. This includes keeping up one’s integrity and values. Since
performance can be temporary, so can the support. A business example is when young CEOs
of Indian start-ups act with utter arrogance on public forums.

Two teachings from Christian Scriptures

1. Keep The Promise: Jesus Christ taught us to keep our word. If a company cannot deliver
what it promised, it will always face the leaking bucket syndrome, i.e. always need to
replenish lost customers.
2. Leadership: When the going gets tough, the leaders have to get going. When times are
tough, the leader leads by actually doing the task himself, not just by giving directions just
like Mosses did.

Influence of Western Culture on Eastern Culture and Vice-Versa

Culture can be defined as all the ways of life including arts, beliefs and institutions of a population
that are passed down from generation to generation. Culture has been called "the way of life for an
entire society."
Influence of Western Culture on Eastern Culture

• Removal of Religious Practices

• Less rigidity in Caste System/Equality

• Equal Status to Women

• Effect to English Literature

Influence of Eastern Culture on Western Culture

• Yoga and Meditation

• Epics

• Mathematics

• Food

Sources of Indian Ethos

Ethos mainly refers to the core set of attitudes, beliefs, and values that gives an identity to a person,
community, institution, etc.

1. Vedas: The Vedas radiated that light that illuminated the world by teaching those universal
and eternal truths and principles that help the mankind to realize the Nature and co-relation
of God with the soul and the creation.
2. Upanishad: The Upanishads insist on the importance of ethical life. It contribute to the
onlooker in the spiritual progression in the life such as longing for goodness in life, negation
of escapism, penance, chastity, compassion, truthfulness etc.
3. Itihas (like Ramayan and Mahabharat): Ramayana and Mahabharata are the two main epics
of India. Ramayana teaches us the importance of values such as loving and respecting our
family, keeping our promises, protecting the weak, characters that we should aspire to be
like.
4. Puranas

CSR

Corporate social responsibility (CSR) is a self-regulating business model that helps a company be
socially accountable to itself, its stakeholders, and the public. By practicing corporate social
responsibility, also called corporate citizenship, companies can be conscious of the kind of impact
they are having on all aspects of society, including economic, social, and environmental.

Philanthropic

Ethical

Legal
Economic

Environmental