Questions and Answers
What is the title of the subject/course?
Business Statistics
What are the learning objectives of the Business Statistics course?
To know statistical techniques, understand different statistical tools, importance of decision support, apply in business situations, and understand managerial applications of statistics.
What is a prerequisite for the Business Statistics course?
Which of the following is a module covered in the Business Statistics course?
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The course credits for Business Statistics are __.
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What is included in the connection subjects of Business Statistics?
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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
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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.
