Statistical analysis is a fundamental method of quantitative reasoning that is extensively used for decision-making. This course is aimed at providing students with the most often used methods of statistical analysis along with appropriate statistical tests. The course is oriented towards application rather than theoretical aspects.
Statistical analysis is a fundamental method of quantitative reasoning that is extensively used for decision-making. This course is aimed at providing students with the most often used methods of statistical analysis along with appropriate statistical tests. The course is oriented towards application rather than theoretical aspects.
Statistical analysis is a fundamental method of quantitative reasoning that is extensively used for decision-making. This course is aimed at providing students with the most often used methods of statistical analysis along with appropriate statistical tests. The course is oriented towards application rather than theoretical aspects.
Course Title Quantitative Methods - 1 Sections E and F
Instructor Malay Bhattacharyya (Block F, First Floor, Room #104)
Objective
The process of decision-making is complex and managers cannot rely entirely on observation and experience to make a decision. A manager needs to know how to summarize, analyze and interpret data to facilitate his or her decision-making. Statistical analysis is a fundamental method of quantitative reasoning that is extensively used for decision-making. This course is aimed at providing students with the most often used methods of statistical analysis along with appropriate statistical tests. The course is oriented towards application rather than theoretical aspects.
Text Book
1. Aczel, Sounderpandian, Sarvanan and Joshi, Complete Business Statistics, Tata McGraw Hill, 7 th Edition, 2012
Additional Reference
1. Anderson, Sweeney and Williams, Statistics for Business and Economics 9e, 1 st
Indian reprint, Thomson South-Western 2. Ken Black, Business Statistics for Contemporary Decision Making, Wiley Student Edition
Evaluation Procedure
Quizzes 25% Assignments 15% Midterm Examination 25% End term Examination 35% ------- Total 100%
Attendance policy
Students are strongly advised not to miss any class. In any case, students will be responsible for materials covered in class. However, no added penalty/incentive would be imposed based on attendance records.
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Dates of Examinations
Quiz 1 July 12 Midterm July 25 Quiz 2 August 23 Final September 5
Session No. Topic Chapter from Aczel et al Data Representation and Summary Statistics 1 Different types of data; Data summarization methods; Tables, Graphs, Charts, Histograms, Frequency distributions, Relative Frequency Measures of Central Tendency and Dispersion; Box Plot; Chebyshevs Inequality Ch 1 Basic Probability 2 Fundamental Concepts, Conditional Probability Ch 2 3 Bayes Theorem Probability Distribution 4 Notion of Random Variable and Probability Distribution; Expected value and Variance of a random variable Ch 3 and Ch 4 5 Discrete distributions: Uniform, Binomial and Poisson distributions 6 Continuous distributions: Uniform, Normal and Exponential distributions 7 Poisson Process 8, 9 Joint Density/Distribution Function, Covariance and Correlation Coefficient
10 Sampling and Sampling distribution Ch 5 MIDTERM EXAMINATION July 25
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Session No. Topic Chapter from Aczel et al Sampling and Estimation 11 Estimation problems; Point and Interval estimates Ch 6.1-6.4 Hypothesis Testing 12 Null and Alternate Hypotheses; Types of Errors, Level of significance, Power of a test Ch7, Ch 8 13, 14 Tests concerning mean and proportion; sample size determination 15 Tests concerning variance and standard deviation; 2 sample problem for variance 16 2 sample inference problems for means and proportions
Analysis of Variance 17, 18 ANOVA Ch 9 Tests for Goodness of fit, Association, Non-parametric methods 19 Chi-square test of independence, Goodness of Fit test, Kolmogorov- Smirnov test
Ch 14 20 Non-parametric Tests: Sign test; Rank sum test FINAL EXAMINATION September 5