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    University of Zimbabwe Faculty of Commerce Business Studies Department Second Semester

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    chavo
    This document outlines the course details for Business Statistics at the University of Zimbabwe Faculty of Commerce. The course aims to provide students with an understanding of data collection, summarization, analysis, and interpretation for decision making. It will cover both descriptive and inferential statistics. Topics include data types, graphs, summary measures, probability, probability distributions, sampling, estimation, hypothesis testing, regression, correlation, and time series analysis. The course will be taught through lectures and tutorials over one semester for first year business students. Students will be assessed through coursework consisting of mandatory tests and a final exam.

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    University of Zimbabwe Faculty of Commerce Business Studies Department Second Semester

    Uploaded by

    chavo
    112 views4 pages
    This document outlines the course details for Business Statistics at the University of Zimbabwe Faculty of Commerce. The course aims to provide students with an understanding of data collection, summarization, analysis, and interpretation for decision making. It will cover both descriptive and inferential statistics. Topics include data types, graphs, summary measures, probability, probability distributions, sampling, estimation, hypothesis testing, regression, correlation, and time series analysis. The course will be taught through lectures and tutorials over one semester for first year business students. Students will be assessed through coursework consisting of mandatory tests and a final exam.

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    BSI06_2012_COURSE_OUTLINE

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    This document outlines the course details for Business Statistics at the University of Zimbabwe Faculty of Commerce. The course aims to provide students with an understanding of data collection, summarization, analysis, and interpretation for decision making. It will cover both descriptive and inferential statistics. Topics include data types, graphs, summary measures, probability, probability distributions, sampling, estimation, hypothesis testing, regression, correlation, and time series analysis. The course will be taught through lectures and tutorials over one semester for first year business students. Students will be assessed through coursework consisting of mandatory tests and a final exam.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    112 views4 pages

    University of Zimbabwe Faculty of Commerce Business Studies Department Second Semester

    Uploaded by

    chavo
    This document outlines the course details for Business Statistics at the University of Zimbabwe Faculty of Commerce. The course aims to provide students with an understanding of data collection, summarization, analysis, and interpretation for decision making. It will cover both descriptive and inferential statistics. Topics include data types, graphs, summary measures, probability, probability distributions, sampling, estimation, hypothesis testing, regression, correlation, and time series analysis. The course will be taught through lectures and tutorials over one semester for first year business students. Students will be assessed through coursework consisting of mandatory tests and a final exam.

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    UNIVERSITY OF ZIMBABWE

    FACULTY OF COMMERCE
    BUSINESS STUDIES DEPARTMENT
    SECOND SEMESTER
    Course: Business Statistics Course Code: BS106

    Lecturer: Dr Freddie Mupambireyi Office Location: Ground Floor; Commerce


    Building

    Lecture Times and Venues: Mon 1500 – 1600(GH) Tues 1500 – 1600 (HLT500)
    Wed 1000-1200 (GH) Friday 0900-1000(HLT500)

    Total Contact Hours/Semester: 60 hrs

    Consultation Times: Tuesday 1000 to 1200 Wednesday 1400 to 1600

    Target Group: First year students in the Faculty of Commerce doing the following
    programmes: Business Studies, Accounting and Tourism, Leisure and Hospitality Studies

    Requirements: All students have must have passed Ordinary Level Mathematics

    2: AIM

    The overall aim of the course is to provide students with an understanding of the different
    data types and their collection methods, summarization analysis and interpretation for
    decision making. Furthermore, the course aims at equipping the students with a good
    working knowledge of basic Descriptive and Inferential Statistics.

    2.1 Course Objectives

    By the end of the course students should be able to:

     define important Statistical concepts


     classify data into categories relevant methods of collection for each datum type
     use appropriate graphs summarization and presentation
     appropriate summary measures for different data types
     understand the key concepts of inferential Statistics
     carry out simple hypothesis test
     apply regression and correlation analysis in forecasting
    3 COURSE CONTENT

    3.1 INTRODUCTION

     Overview of Statistics and its different branches


     Data types/data measurement scales and their advantages and disadvantages
     Operational definitions in Statistics.
     Common symbols or signs in Statistics.
     Methods of raw data collection, their advantages and disadvantages

    3.2 DESCRIPTIVE STATISTICS

    3.2.1 GRAPHS

     Demonstrate knowledge and application of different types of graphs


     Basics of graph drawings
     Transformation of raw data into a frequency distribution(Sturge’s rule)
     Data classification principles
     Extract and interpret key information from the charts, graphs and curves.

    3.2.2 SUMMARY MEASURES

     Measures of Central Tendency (mean, median, mode geometric mean, harmonic


    mean and the weighted mean)
     Measures of variation/Spread/Dispersion(range, mean absolute deviation,
    variance, standard deviation and co-efficient of variation)
     Measures of Skewness(Pearson’s coefficient of skewness, Bowley’s coefficient
    of skewness)
     Measures of Position(Quartiles, deciles, percentiles and fractiles)
     Measures of Kurtosis (Optional)
     Define and indicate most appropriate areas of application for the different
    summary measures.
     Calculate (from raw and grouped data sets) and interpret different summary
    measures.

    3.3 INTRODCTION TO PROBABILITY

     Definition and application of probability concepts in business


     Types of approaches to probability theory (classical, subjective and relative
    approaches)
     Terminology in probability
     Types of events and the laws that governs them (mutually and non-mutually
    exclusive events, dependent and independent events)
     Types of probability, joint, marginal and conditional probabilities
    3.4 PROBABILITY DISTRIBUTIONS

     Characteristics of continuous and discrete distributions (Normal, Binomial and


    Poisson Distributions)
     Applications of the different probability distributions
     Measures of centrality and spread for Binomial and Poisson distributions

    3.5 SAMPLING

     Differentiation between samples and populations


     Reasons behind sampling
     Samples characteristics
     Sample size determinations
     Types of sampling techniques(probability and non-probability sampling)

    3.6 ESTIMATION OF PARAMETERS/ CONFIDENCE INTERNAL

     Significance of statistical inference in business decisions


     Differentiation between parameter and statistics
     Types of estimates (point and interval)
     Large and small samples in statistical inference (Z and t-distribution)
     Estimation involving large sample and small samples (means and proportions)
     Interpretation of the estimates or confidence intervals

    3.7 HYPOTHESIS TESTING

     Definitions of terms in hypothesis testing


     Types of hypotheses and steps in hypothesis testing
     Distinction between parametric and non-parametric tests
     Hypothesis testing involving large samples (one mean, one proportion, two mean
    and proportions)
     Hypothesis testing involving small samples (one mean, one proportion, two
    mean, and two proportions)

    3.8 CHI-SQUARE DISTRIBUTION

     Characteristics of the Chi-square distribution


     Applications of the Chi-square distribution

    3.9 SIMPLE LINEAR REGRESSION AND CORRELATION ANALYSIS

     Differentiation between regression and correlation analysis.


     Objectives of regression analysis
     Regression models; deterministic and statistical models
     Assumptions of regression analysis
     Prediction using regression models
    3.10 TIME SERIES ANALYSIS

     Definition and application of time series analysis


     Components of time series analysis,
     De-composing of time series, ie the trend, seasonal, cyclical and the irregular
    component
     Seasonal indices and smoothening techniques (moving average method and
    exponential smoothening technique)

    4 METHODS OF TEACHING

     Lectures will be delivered during designated lecture time periods.


     Tutorial questions will be given to students for discussion
     Tutorial times to be advised in due course.

    5 STUDENTS ASSESSMENT

     Course work(CW) constitutes 30% of the final examination


     Students should score at least 12% of CW
     The CW will consist at least three mandatory tests
     Dates for tests will announced at least a week in advance

    6 RECOMMDENDED READINGS

    1) Trevor Wegner (2008): Applied Business Statistics: “Methods and Excel-based


    Applications”. Second Edition: Juta. South Africa.

    2) Viswanathan.P.K (2003): Business Statistics An Applied Orientation: Pearson


    Education (Singapore) Pte.Ltd Indian Branch Patparrganj, Delhi 11092 India.

    3) Levine, Krehbiel, Berenson (2004): Business Statistics: A First Course: Third


    Edition. Pearson Education. Singapore

    4) D. Groebner etal (1985): Business Statistics: A Decision- Making Approach.


    Second Edition. CharlesE. Merril Publishing Compnay.

    5) P.Newbold (1995): Statistics for Business and Economics. Fourth Edition:


    Prentice-Hall International.

    6) A.Kvanli etal(1989): Introduction to Business Statistics. A computer Integrated


    Approach. Second Edition. West Publishing Company. United States of America.

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