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Course
Code
Statistical Inference for Decision Making
Course Title
Course Arti Deo, Pradeep Pai, Somnath, Dinesh Panchal, T Kachwala, H Parshuram
Instructor/s
Credit 3credits ( 100 marks paper )
Value
Programme FTMBA 1st Year / Trimester I (2019-2020)
& Trimester
HBS Online Courses (Mathematics for Management & Quantitative Methods)
Pre-
requisite
Excel Foundation Program
CLOs – (in bracket state the PLOs to map with)
1) Understanding how probability analysis can be used to provide helpful information for
decision making. Understanding how Bayes theorem can be used to obtain revised
probability (CLO1)
3) Understanding how to compute & interpret interval estimates of population mean &
Learning population proportion (CLO3)
Outcomes
4) Understanding how to formulate hypothesis and how to conduct tests to determine
whether a hypothesis should or should not be rejected (CLO4)
Course
Description Probability Theory & Inferential Statistics
1|Page
Topics Chapter /article reference Cases / remarks
Sessions
Pre-reads/ Articles/
Chapters
Probability Rules for Risk Classical theory, Relative SIP: Probability to the Rescue
& Uncertainty Frequency Theory, Axioms, (Page Number 170)
1 Addition Rule, Multiplication
Rule, Rule of at least one,
Read ASW Chapter 4
2|Page
Topics Chapter /article reference Cases / remarks
Sessions
Pre-reads/ Articles/
Chapters
Interval Estimation Point Estimate, Interval SIP: Food Lion (Page Number
Estimate using Normal 343)
Distribution, Concept &
10 Importance of Confidence
Level, Determination of
Sample Size, Read ASW
Chapter 8
3|Page
Topics Chapter /article reference Cases / remarks
Sessions
Pre-reads/ Articles/
Chapters
functions, Read ASW
Chapter 11
Analysis of Variance One way Classification SIP: Burke Marketing Services,
Model, Two way Inc. (Page Number 546)
17
classification Model –
Output based on Excel,
Read ASW Chapter 13
Correlation & Regression Correlation Analysis – Scatter SIP: Alliance Data Systems (Page
Diagram, Correlation Number 599)
Coefficient, Regression
18
Analysis, Least Square Method,
Coefficient of Determination,
Read Chapter 14
Correlation & Regression Testing of Significance – t test Case Problem – U.S. Department of
& F test based on Output Transportation (Page Number 672)
19 Summary using Excel Functions
& Data Analysis Menu, Read
Chapter 14
References
1) Statistics for Management 7e by Richard Levin & David Rubin, Prentice Hall
India
2) Complete Business Statistics 7e by A Aczel, J Sounderpandian, P Saravanan,
R Joshi, McGraw Hill Education
3) Statistics – Concepts &Applications 2e by Nabendu Pal & Sahadeb Sarkar,
Prentice Hall of India
4) Statistics for Management 3e by T N Srivastava & Shailaja Rego, McGraw Hill
Education
4|Page
Instruction for Use of Intellectual Property of NMIMS SBM.
Course Outlines are strictly for private and restricted circulation among the concerned Faculty
Members and the Students of this Programme. They are permitted to use the contents for
study and research purpose only. No part of this Course outline can be copied, reproduced,
shared and/or circulated in any manner, through any mode, for any purpose and under any
circumstances whatsoever; which is contrary to the stated restricted uses and purposes. The
person responsible for violating this Instruction shall be liable for appropriate disciplinary
action initiated by SBM.
Disclaimer
While care has been taken in compiling this Course outline, The School of Business
Management of SVKM’s NMIMS University shall not be held liable in any manner to any
person for any mistake and / or omission in the contents of the Course outline.
5|Page
Assurance of Learning Template: *MBA Program
Course Title Statistical Inference for Decision Making
Course Instructor(s) Arti Deo, Pradeep Pai, Somnath, Dinesh Panchal, T Kachwala, Parshuram
Credits 3credits ( 100 marks paper )
Program/Term FTMBA 1st Year / Trimester I (2019-2020)
Evaluation/Assessment
6|Page
Component Weight AOL Instrument CLO1 CLO2 CLO3 CLO4
Midterm test
30 % Embedded Questions √
Case Problem
10 % Rubric √
Quiz 1 & 2
20 % Embedded Questions √
Final Exam 40 % Embedded Questions √ √
Total 100%
AOL Assessment
Criterion for the assessed CLO MBA Final Reported %
Below Expectation Below 65% Not More Than 20%
Meeting Expectation 65% - 75%
Exceed Expectation Above 75%
Recommendations and Action Points
Faculty: T Kachwala
Area: Operations
Program
Dean
Change, Alignment, Modification/Revision Report and Communication
Signatures: Faculty / Area / Program / Dean SBM
7|Page