Christ University MBA (L) IMBA133: Managerial Statistics Term1 2013

MBA L SECTION MANAGERIAL STATISTICS (IMBA 133) NUMBER OF CREDITS = 2 (32 HOURS) Course Overview IMBA 133 is a core course for 2 credit hours. It will discuss from both conceptual and application perspective, basic statistical and mathematical concepts and tools widely used in business applications. The course gives a basic statistical input desired for a clear understanding of core courses like Economics, Foundations of Finance, Managerial Finance, Operations Management and electives in Marketing & Finance Courses. Further it enables to conceptualize business problems in statistical / mathematical terms and solve them to provide solutions. Course Learning Outcomes Multiple pedagogies and active course participants should make MBAI 133 a useful foundation for continued professional development. With diligence and commitment to mutual learning, the following learning outcomes can be accomplished.

Become aware of data information -knowledge conversion process Summarize data by computing measures of central Tendency, dispersion, skewness and Kurtosis Understand the concept of probability & random variables and applications of important probability models Understand the need and application of sampling methods. Various sampling methods used in practice will be discussed. Understand and apply appropriate inferential statistical methods of estimation and testing of hypothesis. Understand the method of evaluating the association between variables through correlation and regression modeling. Use of basic time series analysis for forecasting. Understand the approach for decision making under uncertainty.

Required Material (Text Book): Anderson, D. R., Sweeney, D. J., Williams T. A. Statistics for Business and Economics (9th ed.). New Delhi: Cengage Learning India Private Limited. Page 1 of 7

Christ University MBA (L) IMBA133: Managerial Statistics Term1 2013

Additional recommended references: Sample Chapters in U.K. Srivatsava, G.V. Shenoy and S.C. Sharma: Quantitative Methods for Managerial Decisions, (2001), New Age International (P) Ltd., New Delhi Sample Chapters in Richard I. Levin, D.S. Rubin: Statistics for Management; PHI, Seventh Edition.
Note: Handouts will be distributed appropriately. SESSION CONTENT AND MEETING SCHEDULE Topic # hrs Unit 1 : Statistics & Describing Data (4 hours) Course Overview Big picture & applications of Statistics Data Types & Measurement, Variables Graphical Presentation of data Measures of central tendency Measures of Dispersion 1 Method Lecture & Discussion Discussion Problems & Discussion Problem solving Assignment PaperReview1 Home work problems Home work problems Case Study [Reading] Reading Chap.1 (1.1) Chap.1 (1.2 -1.6) Chap. 2 (2.1 to 2.3) Chap. 3 (3.1 to 3.2) Chap. 3 (3.3)

Problem solving & Case study Data Presentation & Descriptive Statistics 1 Excel Demo & Case Study using Excel Practice [Solution] Unit 2 : Probability, Random variables & Probability distributions (6 hours) Probability Introduction, Event algebra Discussion Conditional probability & Bayes theorem 1 Problem solving Home work problems Random variables Concept &Properties Problem solving Probability function distribution, mass & Lecture density functions Binomial distribution properties & 1 Problem solving Home work problems applications Case Study [Reading] Binomial & Poisson distribution applications Problem solving

Chap. Chap. Chap. Chap.

4 4 5 5

(4.1 to 4.3) (4.4 to 4.5) (5.1 to 5.2) (5.2)

Chap. 5 (5.4) Chap. 5 (5.5)

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Christ University MBA (L) IMBA133: Managerial Statistics Term1 2013

continued Normal distribution Importance, 1 applications Unit 3 : Sampling Methods & Estimation (5 hours) Sampling Need, application, methods 1 Sampling distributions Estimation Point & Interval estimation Interval estimation problems 1 1 1

Problems & Case discussion Lecture & Discussion Problem solving Problem solving Problem solving & Excel

Case Study [ Solution]

Chap. 6 (6.1 -6.3) Chap. 7 (7.1 to 7.2) Chap. Chap. Chap. Chap. 7 7 8 8 (7.4) (7.5 to 7.6) (8.1 to 8.2) (8.3 to 8.4)

Home work problems

CIA 1 Exam [Units 1, 2, 3] 1 Unit 6 : Testing of Hypothesis , Chi-Square test & ANOVA (7 hours) Testing of hypothesis Concept, types of 1 Lecture & error, testing process Discussion Hypothesis testing single population 1 Problems solving & mean, two population means (Z, t tests) Excel Hypothesis testing Proportions 2 Problem solving Mid Term Examination : July 18 -21 [Units 1, 2, &3] Chi-Square test Applications 1 Problem solving ANOVA (One Factor) Assumption, 2 Problems & Case Computation and Application study ANOVA (Two Factor) Test for main and 2 Problems & Case interaction effects study Module 5: Correlation Regression & Time series analysis (7 hours) Correlation & Regression Concept, 2 Problems solving computation, interpretation Regression Prediction, Assumptions, 3 Problems & Case diagnostic checking Study Time series analysis for forecasting 2 Module 4: Decision Theory (3 hours) Decision Theory 2 Problems & Case Study

Chap. 9 (9.1 to 9.2) Home work problems Home work problems Case Study [Reading] Chap.9 (9.2 to 9.5) Chap. 10 (10.1 to 10.3) Chap.12 (12.1 to 12.2) Chap. 13 (13.1 to 13.2) Chap. 13 (13.4 to 13.6) Chap. 14 (14.1to 14.3) Chap. 14 (114.5 to 14.6) Chap. 18 (18.1, 18.3) Chap. 21 (21.1 to 21.3

Home work problems Case study [ Solution]

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Christ University MBA (L) IMBA133: Managerial Statistics Term1 2013

Decision Theory continued

1

Case Study

Home work problems

Chap. 21 (21.4)

Davenport, T. H. (2006). Competing on Analytics. Harvard Business Review , 01 - 10.

CIA 1 evaluation (in the second week of June) Component Weight Case Study Analysis 50% (10 Marks) Exam 50% (10 Marks) Preparation & Participation is also an important criteria for awarding marks. Case study is a data based exercise based on topics covered in Units 1 to 3. This is based on a well defined business problem for a company. The data set related to the problem will be provided. Using the topics covered in the class, you will have to apply them appropriately to answer some management questions. Grading will be based on appropriate summary and presentation of data and computation and interpretation of appropriate summary measures. Exam is completely problem based. The objective of this exam is to test your understanding and application of statistical methods in a problem solving scenario. This will be an open book exam typically of 50 marks (prorated to 10 for University requirement) for two hours duration based on a set of five problems on Unit1, Unit 2 and Unit 3 topics. You have to produce the solution and report your work on the spot. The evaluation of your solution is based on three parameters Appropriate use of statistical measure(s), Accuracy of measures reported and Interpretation / inference drawn. CIA 2 evaluation (in the first week of August) Component Exam Business Report Page 4 of 7 Weight 50% (10 Marks) 50% (10 Marks)

Christ University MBA (L) IMBA133: Managerial Statistics Term1 2013

Exam is completely problem based. The objective of this exam is to test your understanding and application of statistical methods in a problem solving scenario. This will be an open book exam typically of 50 marks (prorated to 10 for University requirement) for two hours duration based on a set of five problems on Unit 5 and Unit 6 topics. You have to produce the solution and report your work on the spot. The evaluation of your solution is based on three parameters Appropriate use of statistical measure(s), Accuracy of measures reported and Interpretation / inference drawn. The main objective of the business report is to test your understanding and application of statistical methods and also interpretation and reporting of your statistical analysis work as per the client requirement. It is important to note that you take up this course not to become core statistician but to use statistical methods in business application(s). Therefore it is important you adhere to client requirement in terms of reporting standards also. You will be given a well defined problem situation and a relevant data set. You need to use Excel to compute all statistical measures and develop a report based on client requirement. These two business reports will be based on Unit 5 Testing of hypothesis and Unit 6 Correlation & Regression topics. Grading criteria of Business Report Professionalism Visual appearance, grammatical correctness, overall formatting plus graphs & tables, APA formatting for statistical results, readability, and other factors that convey your skill and care. Accuracy - How accurate are your statistics in terms of numbers as well as the recommendations you make based off of them? Completeness - How well did you see the relationships between the data? Did you include all the relevant information so that someone else can critically review your analyses (i.e. N, t, F, r, R, p, & effect size values; descriptive, etc.) Did you have an introduction that states the purpose and conclude with recommendations? Note: A sample business report for your reference will be provided in advance. Mid Term Examination Topics: (19-23 July) Page 5 of 7

Christ University MBA (L) IMBA133: Managerial Statistics Term1 2013

Unit 1 : Statistics & Describing Data Unit 2 : Probability, Random variables & Probability distributions Unit 3 : Sampling Methods & Estimation

LEARNING METHODOLOGY & EXPECTATION FROM STUDENTS Class sessions will be more discussion based sessions, not pure lectures. A class session will typically consist of, exposition of principle & concept, question & answer rounds, classroom workout and discussion of problems & its solutions, and invited case presentations. You are supposed to work with me during this workout. Remember that statistical techniques cannot be mastered by textual reading, but by actual problem solving. You must complete reading the chapter/topic, in advance of/before that class session, and thus come fairly, if not fully, prepared. Suppose Ch 2 is to be covered in three sessions, then for the first session, at the least, you are supposed to have read the first third (Sections 2.1 to 2.3) of the chapter, including the worked examples, and tried out the discussion questions & problems corresponding to those sections of the chapter. You must maintain a notebook of the work being done in this course, including the work done in the classroom and all the home work problems suggested by me in each chapter . Because it is a good way to remember the course, at least during the course! It helps you to remember/recollect what was and what was not covered in the class, assisting exam preparation. Another important way to learn is through teamwork. You may work in groups of 2, 3 or 4. First try the problems yourself, then, discuss your solutions with study group members. Such assignments reinforce learning and promote preparedness. Harvard Business Review (HBR) Reading A HBR article will be given in the first session. The objective is to understand the big picture of taking up this course and how over a period of time, content, and techniques you lean in this course have become an integral part of several applications and back bone of an emerging industry in itself!! . You are required to read this article and develop a write up reviewing the contents of the paper. Article info is given as follows: Davenport, T. H. (2006). Competing on Analytics. Harvard Business Review, 01 -10 Useful Web links Instructor You may use the following web links for resources like Electronic books, examples,Info real time case studies, Reena Raj applications, topic explanation, java applets etc. Institute of Management Christ University Page 6 of 7 Phone: 080 4012 9539 (O), 9019189808 (M) Mail: reena.raj@christuniversity.in

Christ University MBA (L) IMBA133: Managerial Statistics Term1 2013

1. http://www.statsoft.com/textbook/ [On line text book] 2. http://davidmlane.com/hyperstat/ [On line book providing tutorial on different topics] 3. http://stattrek.com/AP-Statistics-1/AP-Statistics-Intro.aspx?Tutorial=AP [Teach yourself statistics Online free tutorial on statistical topics]

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