Advanced Business Statistics

Paper Code: 
AAF 315
Credits: 
3
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 

To provide comprehensive knowledge of essential statistical techniques useful in decision-making.

Course Outcome (COs):

Course

Learning outcome (at course level)

Learning and teaching strategies

Assessment Strategies

Paper Code

Paper Title

AAF 315

 

Advanced Business Statistics

 

CO 109: Interpolate and extrapolate the data

CO 110: Apply discrete and continuous probability distributions to various business problems

CO 111: Perform Test of Hypothesis as well as calculate confidence interval for a population parameter for single sample and two sample cases

CO 112: Perform  Chi-Square test for Independence as well as Goodness of Fit and ANOVA

CO 113: Critically evaluate statistical results

Approach in teaching:

Interactive Lectures, Discussion, Tutorials, assignments.

 

Learning activities for the students:

Self learning assignments, Effective questions,  Giving tasks,

 

Class test, Semester end examinations, Quiz, Solving problems in tutorials, Assignments,  Individual projects

 

10.00
Unit I: 
Set Theory
  • Set Theory: Definition of Set, Presentation of Sets, Different types of Set- Null Set, Finite and Infinite Sets, Universal Set, Sub Set, Power Set.
  • Set Operations, Laws of Algebra of sets, Venn Diagram.
  • Interpolation & Extrapolation: Newton’s  methods of advancing differences, Binominal Method & Lagrange’s Method.
14.00
Unit II: 
Probability
  • Concept of Permutation and Combinations
  • Probability- Basic Concepts, Importance of Concept of Probability, Theorem of Probability (Additional Theorem and Multiplication Theorem), Conditional Probability, Bayes’ Theorem, Mathematical Expectation
  • Probability Distribution: Binomial, Poisson’s and Normal.
7.00
Unit III: 
Time Series
  • Time Series Analysis: Introduction, Utility of Time Series Analysis, Components of Time Series Analysis,
  • Measurement of Trend: Freehand or Graphic Method, Method of Semi Averages,
  • Methods of Moving Averages, Method of Least Square, Shifting the Trend Origin,
  • Measurement of Seasonal Variations: Method of Simple Average, Ratio to Trend, Ratio to Moving Average Method, Link Relative Method.
6.00
Unit IV: 
Statistical Inference-Test of Hypothesis:
  • Introduction, Procedure of Testing Hypothesis, Two types of Errors in Testing Hypothesis, Two Tailed and One Tailed Tests of Hypothesis,
  • Test of Significance for Large Samples, Test of Significance for Attributes,
  • Test of Significance for Small Samples (Student’s t Distribution)
8.00
Unit V: 
Chi Square & ANOVA
  • Chi Square Test and Goodness of Fit: Introduction, Degrees of Freedom,
  • The Chi Square Test and Alternative Method of Obtaining of the value of Chi Square, Chi Square Test for Specified value of Population Variance
  • Analysis of Variance: Application of F Test, Assumption in Analysis of Variance, Analysis of Variance in  One-Way and Two-Way Classification Model
References: 
  • Advanced Business Statistics- Prof N.P Agarwal( Ramesh Book Depot Jaipur)
  • Statistical Methods- N.G. Das(M Das & Co)
  • Business Statistics-Yadav, Jain, Mittal (Malik and Company Jaipur)
  • Statistics- R S N Pillai& V Bhagvathi(S Chand & Co Ltd)
  • Statistics- P.N Arora& S Arora, (S Chand& Co Ltd)
  • Statistics Theory and Practice-Sancheti and Kapoor( Sultan Chand and Sons New Delhi
  • Statistical Methods- S.P Gupta(Sultan Chand & Sons New Delhi)

 

Note- The candidate shall be permitted to use battery operated pocket calculator that should not have more than 12 digits, 6 functions and 2 memories and should be noiseless and cordless

 

Academic Year: 
2020-2021
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