BQM
BQM
BQM
Course Objectives:
Learning Outcomes:
Understand the theoretical and conceptual aspects of basic statistics used in management.
Ability of applications of statistical techniques in business-related problems.
Appreciation of advanced quantitative techniques that are based on these basic techniques.
Course Outline: Mapped to content developed by the faculty (resource person) / textbook
Learning Resources: Business Statistics by J. Joseph Francis, Cengage Learning; NPTEL videos
Digital or
Sr. Expected Learning Chapter Software
Topic Session(s) Session Objectives Video links
No. Outcomes Reading tools
used
Comprehend the
i. Statistics defined
meaning of
ii. Statistics vocabulary
Statistics;
Introduction to iii. Advantages & Chapter 1 of https://youtu.be/sjRg6W2awZs
1. 1 understand the ---
Statistics disadvantages of Statistics Text Book
applications of
iv. Applications of Statistics in
Statistics in various
various business functions
fields of business.
Understand data and
i. Statistical data, elements,
its types; construct
variables, observations https://youtu.be/JuTeCVaIKMU
tables & distribution
Data and its ii. Types of data Chapter 2 of
2. 2 for statistical ---
representation iii. Organizing and presenting Text Book https://youtu.be/yJcmvRS3wu8
calculations; present
data (pie, bar, multiple bars,
data through charts
histogram, scatter etc.)
and figures.
Comprehend the
i. Understanding of Central statistical meaning
Measures of
tendency of central tendency; Chapter 3 of https://youtu.be/J34EomPEwBI
3. Central 3
ii. Mean, median, mode business Text Book
Tendency
(ungrouped, grouped data) applications of
various means.
Comprehend the
i. Understanding of Dispersion statistical meaning
Measures of ii. Range, Quartile Deviation, of mean, median and Chapter 3 of https://youtu.be/9Bd5ViQZWwg
4. 4 ---
Dispersion Mean Deviation, Standard mode and their Text Book
Deviation business
applications.
i. Definition, basic concepts Understand the
and vocabularies of basic concept of
Introduction to Chapter 6 of https://youtu.be/nAxhv4IMKjk
5. 5 probability probability; classical ---
Probability Text Book
ii. Classical method of approach of
assigning probability probability.