INDIAN INSTITUTE OF MANAGEMENT KOZHIKODE

KOCHI CAMPUS
Executive Post Graduate Programme
Course Outline

Quantitative Methods and Operations Management (QM and OM) Area

The Objective of the EPGP Programme at IIMK Kochi Campus is to help participants:
PO 1. To develop basic conceptual knowledge of various functional management
disciplines.
PO 2. To appreciate the inter-dependent and inter-related nature of different
disciplines.
PO 3. To use analytical tools and frameworks to examine complex business
situations and develop competence to make judgments in fast paced global
environment.
PO 4. To acquire and improve interpersonal skills on networking, persuasion and
communication skills for effective business leadership,
PO 5. To improving their self-awareness and overall competence by sensitizing
them to social, ethical, environmental dilemmas in business environment so
as to build sustainable enterprises.

EPGP C-101: Quantitative Techniques

Course Description
Effective decision making is crucial. Being statistically literate is essential. In a highly
competitive and an increasingly Internet-centric world, where information and data is
available in abundance, it is vital to focus on statistics in decision analysis as a primary
tool of effective decision making. Broadening statistical knowledge enables one to engage
in decision-making processes with authority, accuracy and integrity. The most successful
managers are those who can understand and use information effectively.
Advances in Statistical tools and techniques coupled with application software can
considerably aid in intelligent decision making, speed and accuracy, product designing,
production management, market research and customer relationship management. This
course aims at developing at individual level, understanding of data, concepts of
appropriate quantitative techniques, data visualizing, analytical and interpreting abilities.

1
Learning Outcomes/Course Objectives
This course will enable –
• to visualize data in a knowledge perspective
• to understand appropriateness of statistical concepts
• how to analyze data
• how to determine just what result is needed to make decisions
• how to get that result; proper application of quantitative techniques as well as
right use of appropriate software
• how to reach inside the data to grasp the knowledge it contains
• how to interpret results of data analyses for intelligent decision making
• to be conversant with management analytical techniques and develop in to an
independent decision maker

Course Objectives / Learning

Program Outcome Assessment Tool(s)
Outcomes
to understand data and
Quiz, End-term
visualize in a knowledge PO1, PO2 and PO5
examinations and project
perspective
Class assignments, Quiz,
to conceptualize different
Practice Questions End-
statistical methodologies and PO3, PO4 and PO5
Term examinations and
techniques
projects
Class participation,
to analyze data using
Practice Questions, Course
appropriate statistical PO3, PO4 and PO5
project and case study
techniques
analysis
to use appropriate software
for better understanding of PO1, PO4 and PO5 Live data analysis in class
data analysis
to interpret results of data Practice Questions, End-
analysis for effective business PO1, PO3, PO4 and PO5 Term examinations and
decision making projects

2
 INDIAN INSTITUTE OF MANAGEMENT KOZHIKODE
KOCHI CAMPUS
Executive Post Graduate Programme
Course Outline

Course Code and Course Title C-101 Quantitative Techniques

Course type Compulsory
Pre-requisites (if any) NIL
Course Credit 2
Total no. of sessions 16
Session Duration 75 minutes
Quarter I
Year and Batch 1st Year 2020-22, EPGP07
Sections (if any) Week-End Batch and Evening Batch

Instructor Prof. Soumya Roy

Contact Details 0495-2809109 (Off), [email protected]
Office Faculty Block 1, Room No. 6
Consultation Hours Through appointment

Introduction
Information contained in data is a vital aid in management decision making. Data is like
water. It's vital to our lives; we cannot survive without it. But if too much pours over us -
we drown. To keep from drowning in data we must learn to use it properly, which means
figuring out what the data is telling us. After all, it isn't the data itself we use to make
decisions; it's the knowledge within the data that we use. This is why we must learn how
to analyze data - how to determine just what result we need to make the decisions; how
to get that result, and then - this is the most crucial step of all -- how to reach inside this
data to grasp the knowledge it contains. The magic is - turning data into Knowledge.
- Herbert E. Meyer
-
Statistical thinking will one day be as necessary for efficient citizenship as the ability to
read and write.
- H.G. Wells

Effective decision making is crucial. Being statistically literate is essential. In a highly

competitive and an increasingly Internet-centric world, where information and data is
available in abundance, it is vital to focus on statistics in decision analysis as a primary

3
tool of effective decision making. Broadening statistical knowledge enables one to engage
in decision-making processes with authority, accuracy and integrity. The most successful
managers are those who can understand and use information effectively.

Advances in Statistical tools and techniques coupled with application software can
considerably aid in intelligent decision making, speed and accuracy, product designing,
production management, market research and customer relationship management. This
course aims at developing at individual level, understanding of data, concepts of
appropriate quantitative techniques, data visualizing, analytical and interpreting abilities.

Learning Outcomes/Course Objectives

This course will enable –
• to visualize data in a knowledge perspective
• to understand appropriateness of statistical concepts
• how to analyze data
• how to determine just what result is needed to make decisions
• how to get that result; proper application of quantitative techniques as well as
right use of appropriate software
• how to reach inside the data to grasp the knowledge it contains
• how to interpret results of data analyses for intelligent decision making
• to be conversant with management analytical techniques and develop in to an
independent decision maker

Textbooks and Learning Materials

Text Book:
• [JK] Jaggia, S. and Kelly, A. (2016), Business Statistics Communicating with
Numbers, 2nd Edition, McGraw Hill Education (India) Pvt Ltd

Reference Book(s)
• Anderson, D. R., Sweeney, D. J., Williams (2013), T. A. Statistics for Business
and Economics, 9th Edition, Thomson Learning
• Richard I. Levin, avid S. Rubin (2008), Statistics for Management, 5th Edition,
Pearson
• Bruce L. Bowerman, Richard T. O’Connel and Emily S. Murphree – Business
Statistics in Practice, 7e, McGraw Hill Education.

Cases
• Advertising experiments at Restaurant Grades (HBSP).
(https://hbsp.harvard.edu/product/916038-PDF-

4
 ENG?Ntt=Advertising+experiments+at+Restaurant+Grades+&itemFindingMetho
d=Search)
• Healthcare Analytics: Vanderbilt University Medical Center- Elective Surgery Schedule
(HBSP). (https://hbsp.harvard.edu/product/W15166-PDF-
ENG?Ntt=2.%09Healthcare+Analytics%3A+Vanderbilt+University+Medical+Center-
+Elective+Surgery+Schedule&itemFindingMethod=Search)

Technology and Software (if any)

Data Analysis (Excel add-in) and SPSS

Other Resources (Journals, Internet Websites) (if any)

1. Reading Handouts prepared by the Faculty
2. Practice Questions for better understanding and self-learning.

Pedagogy – Learning Process

The pedagogy will be a mix of interactive lectures, case let discussions and
demonstrations of analysis of real life data. Discussions will be based on understanding
the concepts and applications of the methodologies to real-life situations. Students are
expected to come prepared for each session. They should go through the relevant reading
materials from the text book before coming to the class. Homework will be assigned at
regular intervals. However, homework may not be graded, and it will be student’s
responsibility to understand and complete the homework.

Evaluation Components/Assessment of Student Learning

Evaluation Component
Percentage Description
/Assessment Tool
Quiz 20 These components evaluate
End term Exam 60 students’ ability to understand
various concepts of the subject and
to apply appropriate statistical
techniques in business applications.
Students are also evaluated in terms
of their ability to interpret various
statistical outputs generated
through statistical software.

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Project 20 Project will be carried out in groups.
Each group will identify a
phenomenon worth of analysing
quantitatively and study it with a
real data set (project with primary
data will attract more credits).
Students will be expected to come
up with a decision making problem
and give it a solution (limited to the
topics) based on quantitative
methods. Often participants are
advised to take up their work
related problems that would help
better performance.

The group project facilitates

students to demonstrate their ability
in a real life situation in terms of
identifying problem, collecting
appropriate data, analyzing data
with statistical techniques and
software and interpreting different
results from a managerial
perspective.

Session Plan
Session
Topic(s) of coverage Reading Reference
Number
Overview of Statistics, and Introduction to
Data – Sample and Population - Definitions,
Scales of Measurements, Time series and
Cross section and data visualization - Chapters 1, 2 and 3 of JK
1&2
Descriptive measures – Mean, Median,
Mode, Range, Mean Deviation, Variance,
Standard deviation, Coefficient of Variance,
Box Plot, Z-Score and their use
Random experiment, sample space, events,
assigning probabilities to events, addition
Chapter 4 of JK
3, 4 & 5 and multiplication rules of probability -
Conditional Probability, Bayes’ theorem and
applications

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 Random variable, Discrete and Continuous
random variables, Probability distribution, Chapter 5 of JK
6&7
Simple discrete probability distributions –
Binomial and Poisson distributions
Introduction of continuous probability
distributions - Uniform, Normal distribution
– standard normal distribution - use of
Normal probability tables - Problems Chapter 6 of JK
8&9
solving; Conditions for computing binomial
probabilities using Normal distribution -
Exponential distribution – problems solving
-
Sampling distributions of sample mean
when the population standard deviation is
known and unknown - Sampling distribution
Chapters 7 and 8 of JK
10 & 11 of sample proportion when the population
proportion is known and unknown – utility
of Normal and ‘t’-distributions – importance
of sample size – Confidence Intervals
Parametric Testing of Hypotheses – Testing
12, 13 & for population means and proportions - one Chapters 9 and 10 of JK
14 sample – problem solving – Comparing two
means and two proportions
15 & 16 Linear Regression Chapters 14 and 15 of JK

Additional Instructions (if any)

• Quizzes would primarily contain questions of objective type; questions may
require minor computing.
• The End-term examination will be for 120/150 minutes.

Group project:
Project shall preferably be taken up when the course in progress in consultation with the
Instructor. Final project report shall be submitted two weeks after the end term
examination. The project report shall embody the aim, collection of data, selection of
suitable analytical techniques, appropriate tables and diagrams, results and
interpretations and take home from the project in terms of a summary. Following
information are mandatory for the final submission:
• A title of the project with introduction and motivation for the problem
• Discussing sampling methodology used for the collection of data
• Statistical methodology used for the data analysis

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 • Interpretation and Conclusion

Soft copies of the project and data set (MS Word or PDF document) should be submitted
through virtual classroom. The report must include the names of all the group members
along with the group number. Each member of the group should contribute and to ensure
the contribution, each group should write a brief report on the individual contribution (in
the data collection or analysis or problem selection, graphs and tables etc.).