DETAILED SYLLABUS

B.Sc. HONORS IN FINANCIAL MANAGEMENT, DEPARTMENT OF ACCOUNTANCY & FINANCE, FACULTY OF MANAGEMENT STUDIES,
SABARAGAMUWA UNIVERSITY OF SRI LANKA

Course Code and Title: FM 1243 Business Statistics

Year and Semester: Year I Semester II
Number of Credits: 03

Hours of Study: Direct Contact Hours: 45 Hours Tutorial: 15 Hours Notional: 150 Hours
Status (Compulsory/
Compulsory
Elective):
Course Synopsis: Statistics is a much versatile subject which can be applied in almost any field. Statistics plays a vital role in taking effective business
decisions. This course unit has been designed to provide students conceptual and practical knowledge in statistical concepts, tools and
applications which contribute to expand their analytical skills for effective managerial decision-making. The course includes data collection
and classification, sampling techniques, frequency distribution, frequency curves and measures of central tendency & dispersion.
Learning Outcomes of the Course: At the successful completion of the course unit, the students will be able to;
1. Interpret a data set scientifically
2. Evaluate statistical evidences rationally
3. Apply statistical models and methods to solve practical managerial problems
Teaching and Learning
Interactive lectures, Case study
Methods:
Assessment Methods: Mid examination, Case study, Team Project
Formative 40%
Assessment Criteria
Summative 60%

108
Course Content:
Teaching &
Number of Recommended
Week Topic Sub Topics Session Objectives ILO Learning
Hours Readings
Methods
01 1. Introduction to 1.1 Definition - Define statistics ILO 1 Interactive 01 hr Book: Chandekar &
Statistics 1.2 Statistics and Business Decisions - Identify basic concepts of lectures Deshpande, (1984)
1.2.1 Descriptive Statistics and statistics
Inferential Statistics
1.2.2 Data Sources
1.2.3 Types of Variables
01 2. Collecting 2.1 Methods of Data Collection - Identify data collection ILO 1 Interactive 02 hrs Book: Chandekar &
Compilation and 2.2 Introduction to Sampling methods lectures Deshpande, (1984)
Presentation of Data Techniques - Discuss different
2.3 Charts and Graphs Sampling Techniques
- Draw Charts and Graphs
02 & 3. Grouped and 3.1 Measurements of Central - Calculate central ILO 1 Interactive 06 hrs Book: Chandekar &
03 Ungrouped Tendency tendency measures ILO 2 lectures Deshpande, (1984)
Frequency 3.1.1 Mean, Median and Mode - Calculate Positional
Distribution 3.1.2 Geometric mean and measures
Harmonic mean - Calculate measures of
3.2 Positional Measures dispersion
3.2.1 Quartiles and Deciles
3.3 Measures of Dispersion
3.3.1 Range
3.3.2 Mean Deviation
3.3.3 Variation and Standard
Deviation

109
04, 4. Correlation and 4.1 Scatter Graphs - Explain the relationship ILO 1 Interactive 08 hrs Book: Chandekar &
05 & Regression 4.2 Correlation between two variables ILO 2 lectures Deshpande, (1984)
06 4.2.1 Nature of Correlation - Calculate correlation ILO 3
4.2.2 Degree of Correlation between two variables
4.2.3 Rank Correlation - Find coefficients of a
4.3 Simple Linear Regression regression
4.3.1 Method of Least Square- - Develop a regression line
curve Fitting using Least Square
technique
06, 5. Time Series Analysis 5.1 Components of Time Series - Discuss components of ILO 1 Interactive 08 hrs Book: Chandekar &
07, 5.2 Analysis of Time Series time series ILO 2 lectures Deshpande, (1984)
08 & 5.2.1 Additive Model - Identify time series ILO 3
09 5.2.2 Multiplicative Model models
5.3 Trend Analysis - Measure the trend using
5.3.1 Free Hand Method different methods
5.3.2 Semi Average Method - Calculate the Seasonal
5.3.3 Moving Average Method index
5.3.4 Least Square Method
5.4 Seasonal Variation
5.4.1 Semi Average Method
5.4.2 Method of Moving Averages

110
09, 6. Introduction to Sets 6.1 Sets Theory - Identify the relationship ILO 1 Interactive 13 hrs Book: Chandekar &
10, Theory and 6.1.1 Sets and Elements of elements ILO 2 lectures Deshpande, (1984)
11, Probability 6.1.2 Venn Diagrams - Calculate the probability ILO 3
12 & 6.1.3 Operations with Sets of occurrence of each
13 6.2 Introduction to Probability states of nature
6.2.1 Elementary Properties of - Calculate different
Probability probabilities according to
6.2.2 Calculating the Probability of the probability
an Event distribution
6.2.3 Bayes’ Theorem
6.3 Probability Distributions
6.3.1 Probability Distributions of
Discrete Random Variables
6.3.1.1 Binomial Distribution
6.3.2 Probability Distributions of
Continues Random Variables
6.3.2.1 Poisson Distribution
6.3.2.2 Normal Distribution

111
13, 7. Sampling Theory & 7.1 Introduction to sample theory - Discuss the sampling ILO 1 Interactive 7 hrs Book: Chandekar &
14 & Testing Hypothesis 7.1.1 Sample theory and central Limit ILO 2 lectures Deshpande, (1984)
15 7.1.2 Parameters and Statistic Theorem ILO 3
7.1.3 Sampling Distribution - Develop hypothesis, test
7.1.4 Sampling Error hypothesis & calculate
7.1.5 Central Limit Theorem confidence intervals
7.1.6 Critical Region
7.2 Testing of Hypothesis
7.2.1 Errors in Testing of
Hypothesis
7.2.2 Estimation
7.2.3 Testing the Difference
Between Means
7.2.4 Test for Difference Between
Proportions
7.2.5 Two Tailed and One Tailed
Tests
Total direct contact hours 45 Hours
*The lecturer has the freedom to use more advanced and creative methods of teaching and learning other than the specified
Composition of Notional Hours:

Learning Activity No of Hours

Direct contact hours 45
Tutorials 15
Self-learning (Independent & Directed) 50
Preparation for and carrying out assignments 20
Preparation for and carrying out assessments 20

Total 150

112
References/Recommen - Chandekar, A.R., Deshpande, V.D., (1984). Descriptive Statistics. New Delhi: Vikas Publishing House Pvt. Ltd.
ded Reading Materials - Daniel, W. W. & Terrell, J. C., (1989). Business Statistics, 5th edition, New Jersey: Houghton Mifflin Company
(Latest):

Supplementary - Aggarwal, Y.P., (1998). Statistical Methods, 3rd & Enlarged edition, New Delhi: Sterling Publishers Pvt. Ltd.
Readings: - Carter, R., (2001). Quantitative Methods for Business Students, Low Priced edition, London: Heinemann Professional Publishing Ltd.
- Chandan, J.S., (1996). Statistics for Business and Economics, 2nd edition, New Delhi: Vikas Publishing House Pvt. Ltd.
- Chandan, J.S., Singh, J. & Khanna, K.K., (1999). Business Statistics. New Delhi: Vikas Publishing House Pvt. Ltd.
- Chandekar, A.R., Deshpande, V.D., (1984). Descriptive Statistics. New Delhi: Vikas Publishing House Pvt. Ltd.
- Daniel, W. W. & Terrell, J. C., (1989). Business Statistics, 5th edition, New Jersey: Houghton Mifflin Company.
- Francis, A., (1995). Business Mathematics and Statistics, 4th edition, London: DP Publications Ltd.
- Harper, W.M., (1991). Statistics, 6th edition, London: Pitman Publishing.
- Hooda, R.P., (1994). Statistics for Business and Economics, New Delhi: Macmillan India Ltd.
- Pillai, R.S.N. & Bagavathi, V., (1995). Statistics, New Delhi: S.Chand & Company Ltd.
- Shukla, M.C. & Gulshan, S.S., (1994). Statistics Theory and Practice. New Delhi: S.Chand & Company Ltd.

113