Course Name Statistics for Management (OM 101)

Term I
Course Coordinator Prof Sahadeb Sarkar
Instructors Profs Rahul Mukerjee/ Sahadeb Sarkar/ Gaurangadeb Chattopadhyay

Objectives: To equip the students with the statistical background that is absolutely necessary
for reaching efficient managerial decisions under uncertainty. This course deals with basics of
probability, probability distributions, and most fundamental topics in statistical inference.

Tentative Session Plan (20 sessions):

Session Description
1-6 Topic: Probability and Probability distributions, with an introduction to t, 2 and F
distributions [Readings: Classnotes & Chapters 4, 5,6 of Levine et al.]
7-8 Topic: Bivariate Probability Distributions; Joint, Marginal and Conditional
Distributions; Conditional Expectation and Variance; Expectation and Variance of
Linear Functions of Random Variables; Covariance and Correlation Coefficient;
Independence of Random Variables [Readings: Classnotes]
9-10 Topic: Organizing & Making Sense of Business Data [Readings: Classnotes &
Chapter 2, 3 of Levine et al.]
11-12 Topic: Covariance & Correlation Coefficient [Readings: Classnotes & Sec 3.5,
5.2, Levine et al], Simple Linear Regression [Readings: Classnotes & Sec 13.1-
13.6, Levine et al]
13-14 Topic: Multiple Linear Regression [Readings: Classnotes & Sec 14.1, 14.2, 14.6],
(Dummy Var Reg), [Readings: Classnotes & Sec 15.1], Polynomial Reg
[Readings: Classnotes & Sec 15.2]
15 - 17 Topic: Introduction to Sampling and Sampling Distributions [Readings:
Classnotes & Chapter 7 of Levine et al.]
Topic: Fundamentals of Hypotheses Testing & Elementary Tests of Significance
[Readings: Classnotes & Chapter 9 of Levine et al.]
18 - 20 Topic: Point Estimation (including method of maximum likelihood) [Readings :
Classnotes]
Topic: Introduction to Interval Estimation [Readings: Classnotes & Chapter 8 of
Levine et al.]

Textbook: Statistics for Managers using Microsoft Excel, 7th or Latest Edition, by Levine,
Stephan and Szabat, Pearson.
Pedagogy: The course would be conducted through lectures, illustrations, cases etc. (with assistance
from Tutors and TAs and statistical computing using Excel and PHStat software)
Evaluation:
1. Mid-Term Examination 30%
2. End-Term Examination 46%
3. Tutor-administered quizzes 24%