Course Out Line
Course Out Line
Course The use of statistical knowledge in the field of business aid dated many years back. In
Description recent years, an understanding of statistical methods, techniques, and the skills to
make use of them had widely been recognized more than before. It is essential for
anyone making business decisions on the basis of data to possess a clear understanding
of statistics.
Among other, the vast and fast changing technological, financial and economic setting
has necessitated an organized use and extensive application of statistical tools to
business decision making. Statistics has proved useful in many ways. Such as in
establishing relationship, making predications, and providing solution to the many
problems of business operations and managerial decision Statistics is widely applied in
production and quality control, marketing research, manpower planning, finance, etc.
Course Contents
1. Statistics Refresher
1.1. Introduction
1.1.1. Definition
1.1.2. Areas (types) of statistics: Descriptive, Inferential
1.1.3. Importance (uses) of statistics
1.2. Descriptive Statistics (Independent Review)
1.2.1. Statistical data (meaning, types, sources, processing and methods of obtaining data)
1.2.2. Organization of descriptive data (tabular presentation; frequency distribution,
graphical presentation; histogram, bar graphs, pie charts, the frequency polygon, the
give.)
1.2.3. Summarizing data
1.2.4. Measures of location or central tendency: the arithmetic mean, the median, the mode.
1.2.5. Measures of dispersion or variation: the range, percentiles, the variance and standard
deviation, the coefficient of variation, skew ness.
2. Probability And Probability Distribution
2.1. Basic definitions of probability
2.2. Fundamental concepts: experiment and event, event and their relationships, conditional and
joint probability
2.3. Definitions of probability distribution
2.4. Basic concepts: Discrete and continuous random variables, expected value and variance of
discrete random variable
2.5. Continuous Probability distribution: Normal distribution
3. Sampling & Sampling Distributions
3.1. Sampling Theory
3.1.1. Basic Definitions
3.1.2. The need for samples
3.1.3. Designing and conducting a sampling study
3.1.4. Bias and errors in sampling, non-sampling errors
3.1.5. Types of samples- random and non-random samples