Business Statistics Semester I

Study Notes

Course Overview

Program: Master in Management Studies, Semester I
Subject: Business Statistics
Credits: 4
Coordinators:
- Program: Ms. Rajashree Pandit (Assistant Professor, Head of Commerce & Management, IDOL)
- Course: Ms. Anitha Menon (Assistant Professor, IDOL)

Faculty

Prof. Suhas Pednekar: Vice-Chancellor
Prof. Ravindra D. Kulkarni: Pro Vice-Chancellor
Prof. Prakash Mahanwar: Director, IDOL
Dr. C.V. Joshi: Visiting Faculty, Alkesh Dinesh Mody Institute

Learning Objectives

Understand various statistical techniques and tools
Recognize the significance of data analysis in decision-making
Acquire practical skills in applying statistical concepts to real business situations
Develop an appreciation for managerial applications of statistics

Prerequisites

Basic mathematics knowledge required

Connections

Relevant to courses in Operations Research, Economics, Research Methodology, Quantitative Techniques, Project Management, Financial Management, and Production Management

Course Modules

Unit 1: Introduction to Statistics
Unit 2: Data Collection and Presentation
Unit 3: Measures of Dispersion
Unit 4: Permutations and Combinations
Unit 5: Probability
Unit 6: Random Variables and Probability Distribution
Unit 7: Intro to Sampling and Reasons for Sampling
Unit 8: Types and Methods of Sampling (Random and Non-Random)
Unit 9: Hypothesis Testing - One Sample
Unit 10: Hypothesis Testing - Two Samples (Related and Independent)

Activities and Learning Outcomes

Data Representation: Engage in problem-solving and case studies to apply concepts like mean, mode, median, and scatterplots
Probability: Utilize axioms, rules, and types of probability to understand uncertainty through problem-solving exercises

Practical Application

Skills in using Microsoft Excel and other software for statistical analysis
Ability to analyze charts and graphs for business insights and decision-making

Description

This quiz focuses on Business Statistics from the Master's program in Management Studies, Semester I at the University of Mumbai. Get ready to test your knowledge on statistical methods, data analysis, and their applications in business. Perfect for students looking to solidify their understanding of the subject.