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Statistical & Quantitative Techniques For Decision Science

The document outlines the syllabus for the Quantitative Techniques for Decision Science course in the MBA program at MIT WPU for the 2021-2023 batch. The 3-credit course introduces students to statistical and quantitative tools for analyzing business issues through 2 lectures and 1 case study per week. Students will learn to collect, organize and present data, apply statistical techniques like measures of central tendency, probability distributions, linear programming, and transportation problems to arrive at managerial decisions using spreadsheet software. Assessment includes assignments, class participation, and a term-end practical problem-solving exam in MS Excel.

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Chayan Garg
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95 views3 pages

Statistical & Quantitative Techniques For Decision Science

The document outlines the syllabus for the Quantitative Techniques for Decision Science course in the MBA program at MIT WPU for the 2021-2023 batch. The 3-credit course introduces students to statistical and quantitative tools for analyzing business issues through 2 lectures and 1 case study per week. Students will learn to collect, organize and present data, apply statistical techniques like measures of central tendency, probability distributions, linear programming, and transportation problems to arrive at managerial decisions using spreadsheet software. Assessment includes assignments, class participation, and a term-end practical problem-solving exam in MS Excel.

Uploaded by

Chayan Garg
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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MIT WPU- MBA SYLLABUS (BATCH 2021-2023)

Course Code TBD


Course Category Core Course
Course Title Quantitative Techniques for Decision Science
Teaching Scheme and Credits Lectures Cases Assessment Credits
Weekly load hours 2 1 1 3
Context/Significance/Purpose of the course:
Several business issues & applications require analytical approach and basic knowledge of Statistical &
quantitative tools and techniques.
Pre-requisites: - NIL

Course Outcomes (COs)/Learning Outcomes: On successful completion of this course, the learner
will be able to -
CO 1 Understand the importance of data collection, organization, presentation & analysis to
solve practical business issues.
CO 2 Apply basic statistical & quantitative tools and techniques to help arrive at a
managerial decision.
CO 3 Analyze statistical & quantitative problems using spread sheet application software
CO 4 Formulate the problem quantitatively and use appropriate arithmetical, and/or
statistical methods to solve the problems
Course Objectives:
1. Knowledge:

i. Data collection & organization tools


ii. Data presentation & analysis tools
2. Skills:

i. Identifying right tool for data analysis


ii. Presenting data in an appropriate format.
iii. Use MS Excel / Spread sheet application software for data analysis.
3 Attitude:

i. Problem Analysing
ii. Problem Solving
Course Contents:
1. Data Presentation Tools
2. Measures of Central Tendency & Dispersion
3. Probability Distribution
4. Linear Programming
5. Transportation & Assignment Problems

Learning Resources
Reference Books:
1. Apte D. P., Statistical Tools for Managers: Using MS Excel, Excel Publication
2. Sharma J. K., Business Statistics, Vikas Publishing House (4E)
3. Vohra N.D. , Business Mathematics & Statistics, McGraw Hill (2014)
4. Apte D. P., Operations Research & Quantitative Techniques: Using MS Excel, Excel Publication
5. Sharma J. K., Operations Research Theory & Applications, 6e, MacMillan Publishers India Ltd.,
MIT WPU- MBA SYLLABUS (BATCH 2021-2023)

Supplementary Reading:
1. Black Ken, Business Statistics For Contemporary Decision Making, John Wiley & Sons (6E)

Web Resources: https://www.sciencedirect.com/book/9780123852083/practical-business-statistics


MOOCs:
1. Rice University https://www.coursera.org/specializations/business-statistics-analysis
2. https://www.edx.org/course/data-models-decisions-business-analytics-columbiax-bamm-102x-0

‘Data, Models and Decisions in Business Analytics’ by Columbia University


Pedagogy:
1. Entire pedagogy shall be MS Excel based.
2. Case based approach for learning applications.
3. Conceptual and contextual learning in online / classroom sessions.
4. Activity based participative learning, Assignments and problem-solving.

Assessment Scheme (Batch 2021-23):


It is divided into two parts, Internal and External Evaluation

A. Internal Evaluation: This has Class Continuous Assessment (CCA) having three components
for 50 marks.

Class Continuous Assessment (CCA)


Component Weight
Description
(May Change)
There will be two assignments conducted for the
1. Assignment 20
course based on the syllabus.
2. Class
Minimum 5 times in a term 10
Participation

3. Oral Oral / Viva-voce Examination 20

 Total :Class Continuous Assessment (CCA) 


50

B. External evaluation:
WPU-Term-End One practical based problem solving examination (using
50
Examination MS Excel)
Total: Internal Evaluation + External Evaluation
100
MIT WPU- MBA SYLLABUS (BATCH 2021-2023)

Syllabus:

Workload in Hrs
Module
Contents Theor
No. Case Assess
y
Statistical tools for Data Presentation & Analysis:
1.1 Classification & Presentation of Data
1 4 1
1.2 Measures of Central Tendency
1.3 Measures of Dispersion
Correlation & Regression Analysis:
2.1 Simple Correlation Analysis
2.2 Karl Pearson’s Correlation Coefficient
2 4 1 1
2.3 Coefficient of Determination
2.4 Simple Linear Regression Analysis
2.5 Regression Line equation
Probability Distribution:
3.1 Concept of Probability &‘Probability Distribution
3 3.2 Poisson Distribution 4 2 1
3.3 Binomial Distribution
3.6 Normal Distribution
Linear Programming: 
4.1 Linear Programming Problem (LPP)
4 4.2 Mathematical Formulation of LPP 4 1
4.3 Linear Programming Problems Applications
4.4 LPP (Maximization & Minimization) solving using MS Excel

Transportation & Assignment Problems:


5.1 Concept of Sources, Destinations, Demand, Supply & Routes
5.2 Importance of Transportation Problems
5 5.3 Problems on Balanced, Unbalanced, Prohibited Routes. 4 2 1
5.4 Concept & Importance of Assignment Problems
5.5 Problems on Balanced, Unbalanced & Prohibited Assignments.
Total 20 5 5

Prepared by Checked by Approved by

Prof. Sridhar G Prof. Adwait Oak Dr. Varsha Nerlekar


Assistant Professor Area Chair – Decision Science Head- Syllabus Committee

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