Statistics in business and management, describing data using graphs and tables. Numericalmeasures: central tendency, dispersion, skewness and kurtosis.

The principal objective of Business Statistics is for students to describe data and make evidencebased business decisions making using descriptive and inferential statistics that are based on well-reasoned statistical arguments.

Unit 1: Describing Data using Graphs and Tables     4 LHs
Uses and scope of statistics in business and management, Frequency distribution, Stem- and-leaf plots, Diagrams (Simple bar diagram, Sub-divided bar diagram, Multiple bardiagram, and Pie-chart) and graphical presentation of frequency distribution – Histogram,Ogive curve, Problems using Excel.

Unit 2: Describing Data Using Numerical Measures   9 LHs
Measures of central tendency (Mean, Median and Mode), Partition values (Quartiles,Deciles and Percentiles); Measures of variation (Range, Inter quartile Range, Quartiledeviations, Standard deviation); Variance and Coefficient of Variation; Measurement ofskewness (Karl Pearson coefficient of skewness and Bowley coefficient of skewness);Measurement of kurtosis (Percentile coefficient of kurtosis); Five number summery, Box- and -Whisker plot, Problems using Excel.

Unit 3: Simple Linear Correlation Analysis 5 LHs
Introduction, Scatter plot, Karl Pearson’s correlation coefficient including bi-variatefrequency distribution, Coefficient of determination, Test of significance of sample correlation coefficient using probable error, Spearman’s rank correlation coefficient, Problems using Excel.

Unit 4: Simple Linear Regression Analysis 4 LHs
Introduction, Simple linear regression models, Assumptions of linear regression model,Line of best fit, Linear regression model by least-squares method, Interpretation of regression coefficients, Properties of regression coefficient, regression coefficient for bi- variate frequency distribution, Problems using Excel.

Unit 5: Probability 4 LHs
Introduction, Sample space and events, Probability, Laws of probability, Conditional probability, Problems using Excel.

Unit 6: Probability Distributions 6 LHs
Introduction, Discrete probability distribution (Binomial distribution and Poissondistribution), Continuous probability distribution (Normal distribution), Problems usingExcel.

Unit 7: Sampling Theory 3 LHs
Introduction, Population and sample, Objectives of sampling, Sampling techniques,Sampling and non-sampling errors, Standard error, Concept of central limit theorem.

Unit 8: Estimation 6 LHs
Introduction, Properties of good estimator (Consistency, Unbiasedness, Efficiency andSufficiency), Point and interval estimates, Level of confidence, Confidence interval
estimates for mean and proportion, Determination of sample size for mean and proportion, Problems using Excel.

Unit 9: Introduction to Hypothesis Testing 7 LHs
Introduction, Steps of hypothesis testing, Level of significance, Critical region, Onetailed test and two tailed test, Hypothesis testing using critical value and p-valueapproaches, Test of significance for large samples (Z-test): Test of significance of asingle mean and difference between two means, Test of significance of a singleproportion and difference between two proportions, Problems using Excel.