UNIVERSITY OF THE PUJAB

HAILEY COLLEGE OF BANKING AND FINANCE

BBA (HONS) INSURANCE AND RISK MANAGEMENT
COURSE TITLE : FUNDAMENTALS OF STATISTICS
DISCIPLINE: Core CREDIT HOURS : 3 PRE REQUISITES:
Principles of management, Basic
understanding of algebra,
calculus and computer

CATEGORY: General DURATION OF CLASS: 90 FOLLOW UP COURSES:

minutes Research Methods and
Techniques, Multivariate
data analysis, Any course
requiring data analysis

INSTRUCTOR’S CONTACT DETAILS:

NAME: Mubeen Khalid

DESIGNATION: Assistant professor

E-MAIL: mubeen.ias@pu.edu.pk

OVERVIEW
COURSE DESCRIPTION: This course aims to prepare the students to comprehend
and analyze variety of data which is found in management problems. In fact now-a-days
statistical way of thinking for managers is like any other professional ability because
making better management decisions inevitably involves skills to handle the data from all
perspectives. This course will also be laying foundation for all follow up courses requiring
data analysis.
OBJECTIVES: The overall objective is to equip students with the quantitative tools of
management for the following key reasons:
• To understand the nature and various types and forms of data
• To learn how to process and convert data into usable form( quantitatively and
graphically)
• To know how to properly interpret and describe information to aid in decision
making
• To know how to draw conclusions about large populations based only on
information obtained from samples
 • To know how to deal with uncertainty element of decisions.(Use of probability)
COURSE POLICY & GUIDELINES
• The students are required to maintain a minimum 75% attendance to be eligible
to sit in the final exams.
• Students are expected to pursue their study materials (case studies etc.)
beforehand and come prepared for class discussions.
• Mobile phones and edibles are not allowed in the class room.
• Use of scientific calculator and understanding of excel is a must for solving
exercises and problems
• The instructor shall be providing detailed information about relevant
websites/web links to support the topics of the outline.
COURSE PLAN
LECTURES TOPIC & CONTENTS ACTIVITY READINGS

Week 1 An overview of nature of statistics Lecture and class Chapter 1 Keller

as a field of knowledge and its link discussions
with dynamic field of management Reference materials to be provided
by the instructor

Week 2 Understanding, collecting and Lecture and class Chapter 2 & 5 Keller
organizing management data discussions
Relevant materials to be provided

Week 3 Observing and visualizing the Lecture and class Chapter 2 & 3 Keller
performance- Part I Description discussions
through Graphs & charts

Week 4 ,5 Visualizing and observing the Lecture and class Chapter 4 Keller
performance-Part II Description discussions
through Numbers

Week The Probability game-Basic Lecture and class Chapter 6 Keller

6,7&8 Probability concepts which serve as discussions
a bridge between descriptive and Relevant materials to be provided
inferential statistics by the instructor

MID-TERM EXAMINATION
Week 10 Discrete Probability Distributions- Lecture and class Chapter 7 Keller
Concepts and applications discussions

Week Continuous Probability Distributions Lecture and class Chapter 8 Keller

11,12 with special focus on normal discussions
distribution and its usage
 Week Beginning of inferential statistics, Lecture and class Chapter 10,11 Keller
13,14,15 introduction to estimation and discussions
Testing of hypothesis

Week Making inference about a population Lecture and class Chapter 12 Keller
16,17 discussions

Week18 Recognizing and measuring the Lecture and class Chapter4 & 16 Keller
relationships of variables- Simple discussions
Linear Regression and Correlation

FINAL EXAMINATION

TEACHING METHODOLOGY
1. CLASS PARTICIPATION:
Students are expected to participate during the discussion sessions. Students are
expected to read the topic which is going to be covered in the following class.
2. CASE STUDY METHOD:
Case study method is considered to be an effective mode of comprehensive
coverage of methods with an applied approach. Cases selected for this course
present real business situations and initiate statistical thinking. That is why many
important concepts will be emphasized with the help of comprehensive case studies.
3. ASSIGNMENTS AND EXERCISES:
‘Learning’ results from ‘doing.’ The assignments and exercises will help students to
see applications of important statistical concepts. Once the mechanics to solve the
problems are mastered, students will be able to comprehend real workplace
problems and will apply the relevant statistical procedure. Any exercise or
assignment submitted after the deadline will not be accepted.
4. PLANNED QUIZZES:
The students are required to come well prepared in the class to respond to questions
from the previous sessions. These quizzes may comprise of MCQs or oral questions.
This activity helps review the last sessions and develops links with following topic
5. LECTURING:
Formal lectures shall be delivered with a board plan. At times multimedia shall also
be used to take care of quantitative working of data. Discussions of different topics
through question answer sessions would also be a part of class activities.
COURSE ACTIVITIES
The course activities would include followings;
• Discussions of management problems and their solutions through application of
statistical techniques and tools.
• Quizzes and review of articles
• Hands on Practice of mini cases or numerical.
COURSE TEXTS
 1. REQUIRED BOOK: Keller, Gerald. (2009). Statistics for Management and
Economics, Abbreviated edition (8th edition), South-Western Cengage Learning
RECOMMENDED BOOKS:
1. Brerenson, Mark L. et. al. (2008). Basic Business Statistics- Concepts and
Applications, (10th edition), Prentice Hall International, Inc.
2. Lind Douglas A., Marchal William G., Wathen Samuel A. (2010) Statistical
Techniques in Business & Economics 15th edition. McGraw Hill Inc. New York NY
10020
ASSESSMENT CRITERIA
Quizzes: 20%
Project/Presentation: 05%
Mid term 35%
Final Exam 40%
Total 100