Course Contents
• Introduction: Meaning of Statistics, Characteristics of Statistics, Descriptive and Inferential Statistics, Population and samples, Statistics application in business
• Data condensation and Presentation: Variables, Data, Tabulation, Frequency Distribution, Cumulative Frequency Distribution, Graphical Representation, Simple Bar Chart, Multiple Bar Chart, Component Bar Chart, Rectangles and Sub-divided Rectangles
• Measures of Central Tendency for grouped: The Arithmetic Mean, The Geometric Mean, The harmonic mean, The Median, , The Mode. Quantiles..
• Measures of Dispersion: Range, The Semi Inter Quartile Range, The Quartile Deviation, The Mean deviation, The Variance and Standard Deviation, Relative Dispersion
• Probability, Combination and Permutation: Introduction, Sets, Venn Diagram, Operation on sets, Successive event principles, permutation of all or parts elements of the set, permutation of the objects ranged in circle, Combination, Addition rules of probability, Conditional Probability, Multiplication rule of probability
• Binomial Probability Distribution: Introduction, Discrete Random Variable, Binomial frequency Distribution and its properties.
• Normal distribution:Introduction, standardized normal distribution and its properties, Tabulated areas of Normal Distribution, inverse use of table of areas under normal curve
• Regression and Correlation: Scatter Diagram, Simple Linear Regression Model, Least- squares estimates in simple linear Regression, Pearson Product Moment Correlation Co-efficient.
Course Synopsis
The objective of this course is to provide basic knowledge of statistics to students so as to prepare them for advanced work in quantitative analysis and interpretation of managerial problems.
Course Learning Outcomes
At the conclusion of this course, the student will be able to grasp the following topics:
• Data description and data presentation in a managerial environment.
• Measures of Central Tendency and Dispersion
• Basic probability concepts and probability distributions as an aid to organizational decision making.
• Regression and correlation.
Graphical Representation of Data
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What is statistics
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Frequency Distribution Tables - Grouped Data
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Presentation of data and frequency distribution
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Measures of central tendency - Computation of Mean
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Measures of central tendency- Application of AM and HM
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Measures of central tendency - Computation of Geometric Mean
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Median and Quartiles
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Quartile - Decile - Percentile
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Mean, mode, median
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Applications of central tendency
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Measure of dispersion - Range and Quartile Deviation
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Measure of dispersion - Inter Quartile Range,Quartile Deviation & Coefficient
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Measure of Dispersion - Variance, Standard Deviation, Coefficient of Variation
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Probability - Types of Events
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Permutations
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Combination
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Probability with playing cards and Venn diagrams
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Probability explained - Independent and dependent events
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Addition rule for probability
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Calculating conditional probability
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Introduction to Regression Analysis
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Forecasting - Linear regression
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Correlation - Meaning
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Calculate Pearson's Correlation Coefficient (r)
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Pearson's Correlation Coefficient
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Binomial Distribution Explained
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Finding The Probability of a Binomial Distribution
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Binomial distribution - Examples
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Binomial Distribution and Applications
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All about binomial Distribution
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The Normal Distribution Explained
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Calculating Normal Distribution
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Reverse use of Z table
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Normal Distribution - Examples
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Normal Probability Distributions
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Book Title : Introduction to Statistical Theory (Part 1)
Author : Prof. Sher Muhammad Chaudhry
Edition : Latest
Publisher : Ilmi Kitab khana
Book Title : Introduction to the Practice of Statistics
Author : David S. Moore and George P. Mccabe
Edition : Latest
Publisher : New York: W.H. Freeman
Book Title : Statistics For Management
Author : Richard Levin
Edition : Latest
Publisher : McGraw Hill.
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