This document provides information about a Quantitative Methods course taught at Birla Institute of Technology & Science, Pilani. The course covers topics such as data analysis, probability distributions, statistical inference, hypothesis testing, linear programming, and transportation problems. It will be evaluated through quizzes, a midterm exam and a final comprehensive exam. The course aims to teach statistical and operations research techniques that are useful for business decision making.
This document provides information about a Quantitative Methods course taught at Birla Institute of Technology & Science, Pilani. The course covers topics such as data analysis, probability distributions, statistical inference, hypothesis testing, linear programming, and transportation problems. It will be evaluated through quizzes, a midterm exam and a final comprehensive exam. The course aims to teach statistical and operations research techniques that are useful for business decision making.
This document provides information about a Quantitative Methods course taught at Birla Institute of Technology & Science, Pilani. The course covers topics such as data analysis, probability distributions, statistical inference, hypothesis testing, linear programming, and transportation problems. It will be evaluated through quizzes, a midterm exam and a final comprehensive exam. The course aims to teach statistical and operations research techniques that are useful for business decision making.
Course No. : MM ZG515 / QM ZG515 / MMVA ZG515 / MBA ZC417 Course Title : Quantitative Methods Instructor : Rajesh Matai
Course Description:
Grouping data, measures of central tendency and dispersion, probability distribution, sampling and estimation, testing hypotheses, chi-square and analysis of variance, regression and correlation, non- parametric methods, time series and forecasting, index numbers, decision theory, linear programming, transportation and assignment problems, queuing theory, network problems, simulation; application of statistical software and spreadsheets.
Scope and objective
This course combines both statistical techniques and operations research (OR) that are essential for business managers. This course demonstrates how to apply various business statistics tools and operations research techniques for managerial decision making. The course also demonstrates how to use Microsoft Excel for applying techniques learnt so that managers can enhance their decision making skills.
Prescribed Text Books
T1. D.M. Levine, T.C. Krehbiel, M.L. Berenson and P. K. Viswanathan, Business Statistics: A First Course, Pearson Education, 5 th Ed., 2011.
R1. Ken Black, Business Statistics: For Contemporary Decision Making, Wiley, 5 th Edition, 2010.
R2. Hillier and Hillier, Introduction to Management Science, 3 rd Edition, Tata McGraw Hill, 2011
Plan of Self Study
S.No. Topic to be covered Learning Objective Reference to Text Books 1 Data Collection and Presenting data 1) Course outline and details T1-Ch. 1 & 2 2) Collecting data and types of data 3) Tables and charts for Categorical and Numerical data 4) Cross tabulations and scatter diagrams 2 Numerical Descriptive Measures 1) Measures of central tendency, variation and shape T1- Ch. 3 2) Numerical descriptive measures for a population 3) Exploratory data analysis 3-4 Basic Probability and some discrete probability distributions 1) Basic probability concepts T1-Ch.4 & 5 2) Conditional probability 3) Bayes Theorm 4) Probability distribution for a discrete random variable 5) Binomial and Poison distributions 5 The Normal Distribution 1) Continuous probability distributions T1- Ch. 6 2) Normal distribution 3) Evaluating normality 6 Sampling and Sampling Distributions 1) Sampling distributions T1-Ch.7 2) Sampling distribution of mean 3) Sampling distribution of proportion 4) Types of sampling methods 7 Confidence Interval Estimation 1) Confidence interval estimation for the mean ( known) T1-Ch.8 2) Confidence interval estimation for the mean ( unknown) 3) Confidence interval estimation for the proportion 4) Determining sample size 8 Fundamentals of Hypothesis Testing: One- Sample Tests 1) Hypothesis testing methodology T1-Ch.9 2) Z test of Hypothesis for the mean ( known) 3) One tail tests 4) t test of Hypothesis for the mean ( unknown) 5) Z test of Hypothesis for the proportion 9 Review Session Lecture 1 to 8 Syllabus for Mid-Semester Test (Closed Book): Topics in S. No. 1 to 9 10-11 Two-Sample Tests and One- 1) Comparing means of two independent populations T1-Ch.10 Way ANOVA 2) Comparing means of two related populations 3) Comparing two population proportions 4) F test for the difference between two variances 5) ANOVA 12 Chi-Square Tests 1) Chi-Square Test for differences among more than two proportions T1-Ch.11, R1-Ch.12 2) Test of goodness of fit 3) Test of independence 13 Linear Programming Problems (LPP) 1) Introduction T2-Ch.7 2) Requirements of a Linear Programming Problem 3) Formulating LP Problems 4) Graphical Solution to an LP Problem 5) Solving Minimization Problems 6) Four Special Cases in LP 7 Sensitivity Analysis 14-15 LPP: Simplex method 1) Convert LP constraints to equalities with slack, surplus, and artificial variables T2-Ch.9 2) Set up and solve LP problems with simplex tableaus 3) Interpret the meaning of every number in a simplex tableau 4) Recognize special cases such as infeasibility, unboundedness, and degeneracy 5) Use the simplex tables to conduct sensitivity analysis 16-17 Transportation and Assignment problem 1) Structure special LP problems using the transportation and assignment models T2-Ch.10 2) Use the northwest corner, VAM, MODI methods for solving transportation problem 3) Solve assignment problems with the Hungarian (matrix reduction) method 18 Review Session Lecture 10 to 17 Syllabus for Comprehensive Exam (Open Book): All topics given in Plan of Self Study
Evaluation Scheme:
Component Weightage Syllabus (Specify Chapter Nos. as per handout) To be administered online in during Quiz 1 5% Lecture 1 to 6 August 16 to August 26, 2014 Quiz 2 5% Lectures 7-8 and 10- 12 September 16 to September 26, 2014 Quiz 3 5% Lectures 13 to 17 October 13 to October 23, 2014
Evaluation Scheme:
EC No. Evaluation Component & Type of Examination Duration Weightage Day, Date, Session,Time EC-1 Assignment/Quiz * To be announced 15% * To be announced EC-2 Mid-Semester Test (Closed Book) 2 Hours 35% Saturday, 13/09/2014 (AN) 2 PM 4 PM EC-3 Comprehensive Exam (Open Book) 3 Hours 50% Saturday, 08/11/2014 (AN) 2 PM 5 PM
* For details of EC-1 Assignment/Quiz please check the WI LP LMS Taxila web site www.taxila.bits- pilani.ac.in by J uly 26, 2014
AN: AfterNoon Session; FN: ForeNoon Session
Closed Book Test: No reference material of any kind will be permitted inside the exam hall. Open Book Exam: Use of any printed / written reference material (books and notebooks) will be permitted inside the exam hall. Loose sheets of paper will not be permitted. Computers of any kind will not be allowed inside the exam hall. Use of calculators will be allowed in all exams. No exchange of any material will be allowed.
Note: It shall be the responsibility of the individual student to be regular in maintaining the self study schedule as given in the course handout, attend the online/on demand lectures as per details that would be put up in the BITS LMS Taxila website www.taxila.bits-pilani.ac.in and take all the prescribed components of the evaluation such as Assignment (Course Page on LMS Taxila), Mid Semester Test and Comprehensive Examination according to the Evaluation Scheme given in the respective Course Handout. If the student is unable to appear for the Regular Test/Examination due to genuine exigencies, the student must refer to the procedure for applying for Make-up Test/Examination, which will be available through the Important Information link on the BITS WILP LMS Taxila website www.taxila.bits-pilani.ac.in on the date of the Regular Test/Examination. The Make-up Tests/Exams will be conducted only at selected exam centres on the dates to be announced later.