INSTITUTE OF MANAGEMENT TECHNOLOGY

PGDM, PDGM (Finance) & PDGM (Marketing)

Term - I, AY 2019-2020
Course Handout

Course Code. : 19AIT 101

Course Title : BUSINESS STATISTICS
No. of Sessions : 20
Duration of session : 75 Minutes
Instructor(s) : Dr Sridhar Vaithianathan (Lead Faculty)
Dr Surajit Ghosh Dastidar & Dr Preeti Sharma
Email : [email protected], [email protected],
[email protected]

1. Course Description

It is an introductory course in Data Analysis which covers Basics of Statistics and Probability.
The course is structured in such a way that it imparts practical applications of the concepts
learned in variety of domains. The course imparts theoretical and practical knowledge
about approach to data analysis, interpretation of data analysis results and making data
driven insights.

2. Course Objective

Each day, our society creates 2.5 quintillion bytes of data (that‘s 2.5 followed by 18 zeros).
With this glut of data, the need to make sense of it becomes more acute, and hence the
demand for data analysis. The objectives of this course are:
 To explain the student about the basic concepts related with understanding data.
 To equip the students with required principles and techniques of data analysis.
 To familiarize the students on how to derive meaningful insights after data analysis.
 To understand business analytics in totality and relevance of the same in this data science
era

3. Learning Goals and Assessment:

S.No. Learning goals Learning Outcomes Learning Assessment

method
The course aims to At the end of the course the The outcomes would be
impart students should be able to assessed through
1 Functional Proficiency & Knowledge
Integration  Appreciate the importance Quiz / Test/ Exam
of data analysis and Class Participation
modeling in critical business
decisions.

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  Understand and apply basic
data analytics techniques to
a given business problem.
 Convert simple business
problems into mathematical Group
models and arrive at their Assignments/Project
analytical solutions. Presentations

Skills
 Use MS Excel for carrying
out data analysis.
2 Analytical and Critical Group
 Identify critical variables
Thinking Ability Assignments/Project
affecting a business
Presentations
problems and collect data
on each of those variables.
Class Participation
 Select appropriate data
analysis technique to
analyze the data collected.
Draw meaningful
insights from the results
of data analysis.
3 Communication Skills  Articulate orally in a crisp Class Participation
and concise manner. Group
 Write and present Assignments/Project
assignments in an Presentations
effective manner. Quiz / Test/ Exam

4. Leadership and  Develop competencies  Group project

Interpersonal Skills needed to function well  Class Participation
in teams (CP)

5 Ethical and Global  Expose to ethical and  Class Participation

Perspective global practices of Data (CP)
Analysis
6 Creativity and  Appreciate and learn  Group project
Innovation Skills innovations in Data
analysis techniques

4. Text Book
Levin, R. I., & Rubin, D. S. (2017). Statistics for management. Upper Saddle River, N.J:
Prentice Hall, 8th Edition

CASE: Retail Case and Retail Case Dataset.

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5. Reference Books:
1. Anderson, Sweeny, Williams, “Statistics for Business and Economics” Cengage Learning,
11th Edition.
2. Albright, Winston (2015), “Business Analytics: Data Analysis and Decision Making”,
Cengage Learning, 5th Edition
3. Camm, Cochran, Fry, Ohlmann, Anderson, Sweeney, Williams (2015),”Essentials of
Business Analytics”, Cengage learning.
4. Sahil Raj (2015), “Business Analytics”, Cengage Learning.
5. Albright, Winston, Zappe, “Data Analysis, Optimization, and Simulation Modeling”,
Cengage Learning, 4th Edition
6. Anderson, Sweeny, Williams, Camm, Cochran, “Essentials of statistics for business and
economics” Cengage Learning, 7th Edition
7. Sandhya Kuruganti, Hindol Basu (2015), “Business Analytics: Applications to Consumer
Marketing”, McGrawHill Education
8. Seema Acharya and Subhashini Chellappan (2015), “Big Data and Analytics”, Wiley
India

6. Course Prerequisites

DATA ANALYSIS AND DECISION MAKING – 1 is an introductory course and has no

essential pre-requisite. However basic conceptual knowledge of statistics, probability and
hands on experience with MS Excel software would be an added advantage.

7. Pedagogy

 Lectures, Case discussion, Hands on sessions and sessions by practitioners. Data analysis
tool MS Excel will be used extensively.
 RETAIL CASE & RETAIL CASE DATASET will be used throughout the course for all topics.

8. Course Content and Session Plan

 NOTE: RETAIL CASE & RETAIL CASE DATASET will be used throughout the course for
all topics.

S. No. of Topic Readings/ Cases/

No. Sessions Additional Reference Resources / Videos
1 1 I. Fundamentals of Data Ch 1 in Ref Book #1 Pp5-10
Analytics. Ch 2 in Ref Book #2
Understanding Data: Pp22-24
Population and Sample,
Datasets: Elements,
Variables and
Observations. Scales of

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 Measurements (Nominal,
Ordinal, Interval and
Ratio). Qualitative and
Quantitative Data. Cross
sectional and Time series
Data.
Grouping Raw Data for
Meaningful Inference: Ch 2 in Text Book
Tabular Representation:
Frequency Distribution Additional Readings
(FD) & Relative FD, Ch 2 in Ref Book#1
Graphical Representation:
Bar Graph, Pie Charts,
Histogram, Line Chart
(Time series).
2 1 Descriptive Statistics: Ch 3 in Text Book
Measure of Central
Tendency (3M) – Mean Additional Readings
(Arithmetic and Weighted), Ch 3 in Ref Book#1
Median & Mode. Measures Ch 2 in Ref Book #2
of Dispersion – Range,
Variance and Standard
Deviation, Co-efficient of
Variation (CV).
Outliers - Box Plot.
Measures of Association Ch 3 in Text Book
between Two Variables:
Covariance. Need for Additional Readings
Correlation coefficient, Ch 3 in Ref Book#1
Interpreting Correlation Ch 3 in Ref Book #2
Coefficient. Scatter Plot.
Hands on Using Excel:
Summary Statistics and
Charts. PIVOT TABLE.
3 1 II. Basic Concepts in Ch 4 in Text Book
Probability
Probability Essentials: Additional Readings
Deterministic Models and
Probabilistic Models. Ch-4 Ref Book#1
Events and Experiments. Ch-4 Ref Book#2
Three approaches to
Probability. Addition rule
of Probability: Probabilistic
Events and Mutually
Exclusive Events.
4 2 Independent Events and
Dependent Events:

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 Marginal, Joint and
Conditional Probabilities
5 2 Revising Prior Estimates of
Probability - Bayes
Theorem – Concept and
Application.
6 3 III. Probability Distribution: Ch 5 in Text Book
What it is? And it’s Types.
Random Variable (RV). Additional Readings
Expected Value of a RV.
Ch-5 & 6 Ref Book#1
Discrete Probability Ch-5 Ref Book#2
Distribution. BINOMIAL
and Poisson Distribution.

Continuous Probability
Distribution. NORMAL
and Exponential
Distribution.
7 Midterm Exam
8 2 IV. Decision Making under Ch-6 Ref Book#5
Uncertainty :
Payoff tables, Possible
Decision Criteria, Expected
Monetary Value, Decision
trees.
9 3 V. Sampling and Sampling Ch 6 in Text Book
Distribution:
Statistic and Parameter.
Types of Sampling: Additional Readings
Random & Vs Non- Ch-7 Ref Book#1
Random Sampling. Ch-7 Ref Book#2

Sampling Distribution,
Standard Error, Sampling
from Normal & Non
Normal Populations, THE
Central Limit Theorem,
Sample size and Standard
Error.
10 3 VI. Estimation: Point Ch 7 in Text Book
Estimates and Interval Additional Readings
Estimates, Interval Ch-8 Ref Book#1
Estimates and Confidence Ch-8 Ref Book#2
Interval, Interval Estimates
of Mean from Large

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 Samples, Interval Estimates
using t Distribution,
Sample size determination.
2 Group Project - Hands on Schedule Will be Announced by Course-
using Dataset – Lab Based Faculty on or before 22nd Aug 2019.

9. Practitioner Details
• No Practitioner Sessions for this course

10. Assessment Scheme:

EC
Evaluation Weightage Date & Time
No
Component (%)
.
1 Class participation
Round 1 10 1-5 weeks
Round II 10 6- 10 weeks
3 Mid Term Exam 20 End of 5th
week
4 Group Project 30 End of 9th
Week
5 Comprehensive Exam 30 11th week

Details about the assessment components and guidelines

The assessment for the course will be based on Class Participation, Group Assignments,
Quizzes and End Term Comprehensive Examination.

i. Class Participation
The following rubrics will be used while assessing the students. The students are expected
to read the assigned reading material and the case (if any) thoroughly.

A B C D
Preparation (20%) Is well prepared for class Is usually prepared for Is rarely prepared for Is almost never
with assigned reading class with assigned the class prepared for the class
material reading material

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Quality of Input in Voluntarily & frequently Offers consistently Occasionally offers Offers limited or no
Discussion (30%) offers creative or originalappropriate responses responses, nothing responses, or single
responses/ and occasionally that really challenges word responses;
interpretations/ creative or original the class to think Is unable to connect
observations; responses; beyond the obvious; theory to the case; Is
Is consistently able to Is frequently able to Is weakly able to unable to relate
connect theory to the connect theory to the connect theory to the concepts across cases &
case; case; case; to other related
Is consistently able to Is occasionally able to Is unable to relate disciplines
relate concepts across relate concepts across concepts across
cases & to other cases & to other related cases & to other
related disciplines disciplines related disciplines

Level of Involves others in class Responds to others’ Rarely raises any Never raises any
Engagement in discussions by asking questions but does not questions; questions;
Class (30%) questions and seeking raise any pertinent Is neither able to buildShows no interest in
others’ responses; questions; on others’ ideas nor class discussion and
Offers follow up Offers matter of fact able to comprehend appears distracted
responses, builds on responses and seldom or consolidate content
other ideas; builds on others’ ideas; discussed thus far
Enhances class learning Merely paraphrases
by consolidating ideas ideas already expressed
expressed at different
points of time during the
discussion

Behavior (20%) Demonstrates leadership Can assist the leader in Is a mere spectator to Goes back to an issue
by being able to bring streamlining the class a wayward point and after it is already been
the class back on track discussion once keeps away from discussed and settled;
during wayward initiated by the leader conflict situations Raises unrelated points
discussions; and also assists the and disrupts the flow
Possesses the ability to leader in diffusing of the class;
diffuse conflicting conflicts Does not give enough
situations opportunity to assess
class participation

I. Class Participation (10% and 10%): Class Participation (CP) is important part of the overall
scheme of assessment. It is a continuous assessment process where in the participation of
the students in the class discussion will be assessed. Students are expected to make
intellectual and relevant contribution to the topics under discussion. CP will be evaluated
two times, one at the mid-term (10%) and another at the end-term (10%).

II. Mid Term Exam (20%): Mid Term examination will be held to test students’ overall
understanding of the topics discussed in first 10 sessions.

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III. Group Project – Hands on Lab Based (30%): As this course requires students to master
many decision-making techniques, projects play a very important role in this process.
Students will be divided into groups (2-3 members per team) and will be required to
complete the given projects in their respective groups only.
a. Project would be entirely Hands on using the given Dataset and would be
conducted at LAB.
b. Projects may vary from solving simple problems to complex decision making
scenarios using the given DATASET.
c. The duration of the project would be typically 1 Hour 15 mins.
d. After the solving the problem(s), Students would enter their answers (MCQ format)
in the given answer sheets. The marks would be based on approach to the problem
and number of correct answers.

IV. Comprehensive Exam (30%)

An end term exam covering the entire syllabus will be for 2 hrs. The exam pattern
will be subjective and analytical including problems and cases.

11. Plagiarism Policy

Copying of the language, structure, ideas, or thoughts of another and representing

the same as one's own original work amounts to plagiarism. Examples of plagiarism
include: failing to use quotation marks when directly quoting from a source; failing
to document distinctive ideas from a source; fabricating or inventing sources; and
copying information from books and the internet.

Students found guilty of plagiarism will not be evaluated. Instructor shall decide to
give warning or grade cut or refer such students to the disciplinary committee for
further action.

Consultation Hours: Anytime during office hours with prior appointment.

Note: Make-up for evaluation components may be given only on genuine grounds. Prior
permission for the same is MANDATORY.

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