Course Plan

KO1BUS3

Business Statistics

(Prof. V. Rajagopal, Ms. Jisha J.)

Term I

(September 2017 – December 2017)

BATCH 26

Programme: POST GRADUATE DIPLOMA IN MANAGEMENT (PGDM)

SCMS COCHIN SCHOOL OF BUSINESS

Faculty: HOD:
Dean :
Director:
 Table of Contents

1. COURSE PROFILE:................................................................................3
2. COURSE OBJECTIVE/S: ……………………………………………………………....3
3. COURSE OUTLINE (SYLLABUS)..............................................................3
4. COURSEWARE:.....................................................................................4
5. LEARNING OUTCOMES:........................................................................4
6. THE INTERNAL ASSESSMENT.................................................................5
6.1 MILESTONES / IMPORTANT DATES.........................................................5
6.2 RUBRICS FOR ASSESSMENT...................................................................5
7. SPECIAL INFORMATION ON COURSEWORK............................................6
8. MID TERM EXAMINATION COVERAGE AND QP PATTERN.........................6
9. END TERM EXAMINATION COVERAGE AND QP PATTERN........................7
10. COURSE IMPLEMENTATION : MODULE AND SESSION PLAN...................8

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1. Course Profile:

Course Title Business Statistics

Course Code KO1 BUS3
Programme Post Graduate Diploma in Management
(PGDM 2017-2019)
Total Credits 3
Total Number of Sessions 24
Session Duration 1 hr 15 minutes
Faculty/course facilitator Prof. V. Rajagopal/ Ms. Jisha J

2. Course Objective/s:

A. To familiarize the students with the basic concepts, tools and techniques of statistics
commonly used in business decision making processes

B. To develop skills that will enable the students to quantity and interpret specific
business situations / problems in areas such as Project planning, Statistical Quality
Control, Option Pricing etc. using probability distributions.

C. To enable the students to understand the behavior of data so as to enable them in

forecasting more accurately in difficult decision making areas such as marketing, sales,
budgeting and Corporate planning.

D. To enable the students to establish relationship between dependent and independent

variables pertaining to various business situations by using statistical techniques such as
correlation and regression.

3. Course Outline (syllabus)

Module
Weightage Sessions Description
No

Introduction -Scope And Applications: As decision

makers, managers often feel the need for more information
before selecting a course of action. But the managers’
I 6% 3 options are limited if there is no one to help them. Hence,
they either make an intuitive judgment without gathering
additional information or go for collecting new information.
Relevance of Statistics in work and business environment,
and its application in managerial decision-making in the
areas like marketing, finance and data mining statistical

3
 tools for simplifying unwieldy and complex mass of data
and present them in a manner, which will be more useful for
decision-makings. Presentation of data in the form of graphs
and charts, which can be easily comprehended.
This module provides an understanding of relevance and
need for calculation of various measures of locations such
as mean, median and mode with their relative advantages
II 18% 4 and limitations. Similarly, various measures of dispersion
such as range, standard deviation, mean deviation etc., and
their relative advantage and limitations in using under
different situations are also discussed.
Concepts and applications of probability in business
decision makings. Role of Probability in predicting the
likelihood of various types of events to occur under
III 18% 4 different business situations. Marginal, Conditional & Joint
Probability when there are more than one event to
happened, Baye’s Theorem for deriving the probability of
selecting one particular item among a set of choices.

This module provides the requisite knowledge to understand

the various types of statistical distributions so as to enable
the students to draw meaningful conclusions about the
IV 24% 5 present and the past and make predictions about the future.
The topics to be covered are the following:
Probability Distributions: Binomial, Poisson, Normal
Distributions which are applicable in business and
managerial environments,. Method of predicting the future
based on the pattern or distribution it has in business
situations.
This module discuss the concept of correlation and
regression theories to understand the relationship that exists
among variables and also helps to establish mathematical
V 24% 5 relationships between variables.. The topics to be covered
are the following:
Simple Correlation & Regression Analysis Interpretation of
relationship of variables with the help of Scatter diagram,
Estimation using Regression Line, Principle of Least
Square, calculation of Coefficient of Correlation.
Time series analysis deals with the analysis of a data
recorded over a period of time. The main objective of this
VI 10% 3 module is to acquaint with the analysis of past data relating
to business performances or any other activity connected
with business. The analysis of such data is very useful for
forecasting the trend of the business or its performance and

4
 also helps to do corrective measures where ever necessary.
Topics such as Seasonal Variation, Cyclical Variation,
Irregular Variation, Trend Analysis, Forecasting methods
using Time Series methods will be discussed.
Total 100% 24

4. Courseware:

Book/Journal/
Year/edition/
Article/case studies Author Publisher
volume
Title
T N Srivastava And Tata Mcgraw-
Statistics for
Shailaja 2nd Edition Hill, New Delhi
Management
110 008
Business Statistics J K Sharma Vikas Publishing
4th Edition, 2014
House
Tata Mcgraw Hill
Business Statistics N. D. Vohra 1st Edition, 2013
New Delhi
Quantitative
Barry A. Render and Pearson
Techniques for 12th Edition, 2013
Ralph A. Stair Education
Management

Tata Mcgraw-Hill
Complete Business Amir D Aczel
Sixth Edition, 2006 New Delhi
Statistics Jayavel Sounderpandian
Dr .JS Chandan, Prof. Vikas Publishing
Business Statistics Second Edition
Jagit Singh, K K Khanna House

Eastern Economy
Statistics for Richard I. Levin, David
Seventh Edition Edition
Management S. Rubin

Statistics for
Macmillan India
Business & R P Hooda 3rd Edition
Ltd.,
Economics
Delhi

5
5. Learning Outcomes:

The course will equip the students

 To use basic statistical techniques that are required to tackle different managerial
decision making situations.
 To apply various statistical techniques such as
o Normal Distribution in Cost Volume profit analysis, Options Pricing,
Project planning and Statistical quality control,
o Time Series Analysis techniques for forecasts in the areas of Marketing,
Sales, Financial planning and long term Corporate level Strategic planning
o Correlation and Regression methods in establishing relationships and
predicting the behavior of the business models

6. The internal assessment

The internal assessment will be evaluated based on the following criteria.

Maximum Marks
Criteria
Pre-mid term Post-mid term Total
Assignment (4 nos.) 15 15 30
Class Test (2 nos.) 10 10 20
Mid Term Exam 20
Total 70

6.1 Milestones / Important Dates

Course work / Assessment

(Assignment / Class Test /
Sl. No.
Project/ Presentation of Case
analysis etc.)
1 Assignment 1
2 Assignment 2
3 Test paper 1
4 Mid-term Examination
5 Assignment 3
6 Assignment 4
7 Test Paper 2
Indicative Date/ Session number
After completion of 4th session
After completion of 8th session
After completion of 10th session
After completion of 12th session
After completion of 16th session
After completion of 20th session
After completion of 22rd session

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6.2 Rubrics for valuation of Assignments / Test papers :

Needs Improvement Average Good Excellent

Criteria\Marks Points
0-2.5 2.5-5 5-7.5 7.5-10

Declaration of None of the variables are Declaration Incomplete/ Declaration is missing in Declaration of variables
variables declared Not clear case of some variables are appropriate

Explanation is a little
Explanation Explanation is difficult to
difficult to understand, but Explanation is clear but Explanation is detailed
including understand and is missing
includes some of the not not detailed enough and clear
conclusion several components
critical components
Somewhat correct
Correct terminology and
Mathematical There is a lot of inappropriate terminology and notation Correct terminology and
notation are used
terminology and use of terminology and are used here and there, but notation are missing in
throughout, making it very
notation notation not easy to understand 1 or 2 cases
easy to understand.
what was done
Most of the steps for
All the steps for solving
Student does not show any Many steps for solving solving problems
Steps shown problems are
steps problems were missing were meticulously
meticulously shown
shown

The work appears sloppy and The work is presented in an The work is presented in The work is presented in a
Neatness and unorganised. It is hard to organised fashion but may a neat and organised neat, clear, organised
organisation know which information goes be hard to read at certain fashion that is fashion that is very easy to
together places easy to read read and comprehend

Methodology shows a
Knowledge Level complete lack of
understanding of the problem
Methodology shows
substantial Analysis shows complete
Methodology shows some
understanding understanding of
understanding of the
of the problem, ideas the questions, mathematical
problem
and ideas and processes
processes
Total marks obtained

8
 7. Special information on Coursework

Every question given as part of assignments is pure case studies, which will help the students to
identify various domains in which statistical techniques can be applied.

Assignment 1 will cover areas such as Purchase decision, Location identification, Population
distribution, Wage/Income inequalities etc. using different measures of Central Tendency and
Dispersion

Assignment 2 will cover areas such as Probability of defectives in a lot, Probability of defectives
being produced by machines, Lives of machines and products, Probability of occurrence of
occupational diseases and accidents, Probability of occurrence of sales at various levels.

Assignment 3 will cover areas such as relationship between employee behavior and customer
attitude, variables that have impact on employee engagement, motivation, satisfaction etc.
Relationship between sales and various other variables such as advertising effectiveness, brand
image and so on

Assignment 4 will cover areas such as Demand Forecasting, Sales Forecasting etc. in the light of
various fluctuations in data such as trend, seasonality, cyclical and erratic variations.

Moreover, the questions for class tests as well as mid-term and end-term examination will be purely
from the application side of the topics discussed in the class.

8. Mid Term Examination Coverage and QP pattern

The Midterm examination shall be for 1½ hours and shall cover all the topics that are
envisaged in Module I, II & III of this plan and the question pattern will be as follows:

Section A concept check (not more than 25%), Section B Descriptive/application

Section C compulsory (Application/ case)
Compulsory Question on Contemporary issue (10 -15%)

Section A Theory/problem 3*2.5 = 7.5 Marks

Solutions of problems & its applications in real time business
Section B
decision making processes 3*4.5=13.5 Marks
Application Problem/Case study - 9 Marks
Section C
(Including a question on contemporary issues)
Total Marks 30
 9. End Term Examination Coverage and QP pattern

The end term examination for each subject shall be of 3 hours and questions will be prepared on
the basis of the topics that are covered in module I to VI and the pattern will be as follows:

Section A Theory/problem 5*3 = 15 Marks

Section B Solutions of problems & its applications in real time business

decision making processes 6 * 6 =36 Marks
Section C Application Problem /Case Study- 9 Marks
(Including a question on contemporary issues)
Total Marks 60

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10. Course Implementation: Module and Session Plan

Module
Pedagogy/ Activity Evaluation
Weightage Courseware (Cases/ Readings/
(Lecture, Discussions, (specify
Number Sessions Topics Book & Chapter references)
(% of total Presentations, assessment
Seminar etc) tool )
content)
Importance of Decision making in 1. “Quantitative Techniques
Management. Lectures, Discussions in Management”-Barry Session 1 to 4
Quantitative techniques and their and Problem-solving A. Render and Ralph A.
1 will be evaluated
field of application in management Stair- Chapter 1 based on
I 6% Assignment I
1. “Business Statistics”-
Presentation of data with the help J. K. Sharma-Chapter 2
Lectures, Discussions
2 of graphs and charts, frequency 2. “Business Statistics”-
and Problem-solving
distributions N. D. Vohra-Chapter 2
II 1. “Business Statistics”-
Presentation of data with the help J. K. Sharma-Chapter 2
Lectures, Discussions
3 of graphs and charts, frequency 2. “Business Statistics”-
and Problem-solving
distributions N. D. Vohra-Chapter 2
Lectures, Discussions 1. “Business Statistics”-
18% Measures of Central Tendency, and Problem-solving J. K. Sharma-Chapter 3
4 Explanation on Arithmetic Mean, 2. “Business Statistics”-
Median, Mode N. D. Vohra-Chapter 3
Additional Reference:
1. “Complete Business
Statistics”- Amir D
Aczel, Jayavel
Sounderpandian Chap.- 2

Measures of Dispersion- Range,
5 Mean Deviation, Coefficient of
Variation
Standard Deviation , Quartile
6
deviation, deciles, Percentiles
General applications in managerial
7
decision making
III
18%
8 Concepts of probability
Marginal, Conditional & Joint
9 Probability
1. “Business Statistics”-
J. K. Sharma-Chapter 4
2. “Business Statistics”-
N. D. Vohra-Chapter 4
Lectures, Discussions
Additional Reference:
and Problem-solving
1. “Complete Business
Statistics”-Amir D Aczel,
Jayavel Sounderpandian
Chap.- 2
1. “Business Statistics”-
Lectures, Discussions J. K. Sharma-Chapter 4 Session 5 to 8
and Problem-solving 2. “Business Statistics”- will be evaluated
N. D. Vohra-Chapter 4 based on
1. “Complete Business Assignment II.
Lectures, Discussions Statistics”-Amir D Aczel, Also sessions 1
and Problem-solving Jayavel Sounderpandian to 8 will be
Chap.- 2 further evaluated
1. “Business Statistics”- based on Class
J. K. Sharma-Chapter 6 test I
2. “Business Statistics”-
N. D. Vohra-Chapter 6
Lectures, Discussions
Additional Reference:
and Problem-solving
1. “Quantitative Techniques
in Management”-Barry
A. Render and Ralph A.
Stair- Chapter 2
Lectures, Discussions 1. “Business Statistics”-
and Problem-solving J. K. Sharma-Chapter 6
2. “Business Statistics”-
N. D. Vohra-Chapter 6
Additional Reference:
1. “Quantitative Techniques
in Management”-Barry
A. Render and Ralph A.
Stair- Chapter 2
12
 1. “Business Statistics”-
J. K. Sharma-Chapter 6
2. “Business Statistics”-
Bayes Theorem and its relevance N. D. Vohra-Chapter 6
Lectures, Discussions
in managerial decision making Additional Reference:
10 and Problem-solving
1. “Quantitative Techniques
in Management”-Barry
A. Render and Ralph A.
Stair- Chapter 2
1. “Business Statistics”-
J. K. Sharma-Chapter 6
2. “Business Statistics”- Sessions 1-12
Bayes Theorem and its relevance N. D. Vohra-Chapter 6 will be evaluated
Lectures, Discussions
11 in managerial decision making Additional Reference: based on the
and Problem-solving
1. “Quantitative Techniques Mid-term
in Management”-Barry examination
A. Render and Ralph A.
Stair- Chapter 2
IV 1. “Business Statistics”-
24% Lectures, Discussions J. K. Sharma-Chapter 7
Binomial Distributions
12 and Problem-solving 2. “Business Statistics”-
N. D. Vohra-Chapter 8
1. “Business Statistics”-
Poisson Distribution Lectures, Discussions J. K. Sharma-Chapter 7
13
and Problem-solving 2. “Business Statistics”-
N. D. Vohra-Chapter 8
1. “Business Statistics”- Sessions 13 to 16
Poisson Distribution applications Lectures, Discussions J. K. Sharma-Chapter 7 will be evaluated
14 and Problem-solving 2. “Business Statistics”- based on
N. D. Vohra-Chapter 8 Assignment III
15 Lectures, Discussions 1. “Business Statistics”-
Normal Distributions, its general and Problem-solving J. K. Sharma-Chapter 7
applications in managerial 2. “Business Statistics”-
decision making N. D. Vohra-Chapter 8

13
 1. “Business Statistics”-
Normal Distributions, its general
Lectures, Discussions J. K. Sharma-Chapter 7
16 applications in managerial
and Problem-solving 2. “Business Statistics”-
decision making
N. D. Vohra-Chapter 8
1. “Business Statistics”-
General concept of linear
Lectures, Discussions J. K. Sharma-Chapter 13
17 relationships, Scatter diagram and
and Problem-solving 2. “Business Statistics”-
its applications
N. D. Vohra-Chapter 13
1. “Business Statistics”-
Method of curve fitting by the Lectures, Discussions J. K. Sharma-Chapter 13
18
principles of least squares and Problem-solving 2. “Business Statistics”-
Sessions 17 to 20
N. D. Vohra-Chapter 13
will be evaluated
1. “Business Statistics”-
General explanation on based on
19 Lectures, Discussions J. K. Sharma-Chapter 13
V correlation and method of finding Assignment 4
24% and Problem-solving 2. “Business Statistics”-
Coefficient of Correlation
N. D. Vohra-Chapter 13
1. “Business Statistics”-
20 Lectures, Discussions J. K. Sharma-Chapter 13
Regression analysis
and Problem-solving 2. “Business Statistics”-
N. D. Vohra-Chapter 13
1. “Business Statistics”- Sessions 13 to 24
21 Lectures, Discussions J. K. Sharma-Chapter 13 will be evaluated
Rank Correlation
and Problem-solving 2. “Business Statistics”- based on Class
N. D. Vohra-Chapter 13 test 2
VI 1. “Business Statistics”-
10% Time-series & Forecasting : Lectures, Discussions J. K. Sharma-Chapter 15
22
Introduction and Problem-solving 2. “Business Statistics”-
N. D. Vohra-Chapter 17
23 Measurement of Trend- Graphic, Lectures, Discussions 1. “Business Statistics”-
Seasonal & cyclical behavior and Problem-solving J. K. Sharma-Chapter 15
2. “Business Statistics”-
N. D. Vohra-Chapter 17

14
 Method of Semi- Averages, 1. “Business Statistics”-
Moving Averages & Case J. K. Sharma-Chapter 15
24 Lectures, Discussions
discussions 2. “Business Statistics”-
and Problem-solving
Managerial Decision making N. D. Vohra-Chapter 17
based on forecasting

15