Quantitative Methods I

SVKM’s
NARSEE MONJEE INSTITUTE OF MANAGEMENT STUDIES

POST GRADUATE DIPLOMA IN MANAGEMENT
Program: PGDM Trimester: I
Course: Quantitative Methods –I Code:
Teaching Scheme Evaluation Scheme
Classroom Practical/ Tutorials Credit Continuous Term End Examination
Session Group work Evaluation (TEE)
20 0 0 3 50% 50%
Course Rationale:
This Course presents an overview of the general principles and applications of statistics relevant to
management. One of management's key functions is to make decisions. Understanding of statistics is
important for figuring out what information is relevant and how that information we used in an effective
manner for making optimal decisions. A major emphasis of this course will be the development of skills
through practical problem solving. Application of such skills will be carried out through hands on
application.
Course Objectives:
1. To apply statistical tools to analyze problems in all disciplines of management.
2. To convert data into information with sophisticated statistical tools.
3. To impart knowledge to interpret the output of statistical analysis.
Learning Outcomes:
By the end of this course, students should be able to
1. Choose appropriate data analysis and interpret the results
2. The results obtained should enable in reaching and formulating proper business strategies
3. In general they should reach a level of competence to use appropriate software like MS Excel and
SPSS and interpret the output
Prerequisite(s):
Orientation Program on Statistics
Pedagogy:
Course consists of 20 modules of 1.5 hrs of teaching. The learning can be done through case study
discussion. Students should encourage to apply concepts learned in the class to the actual data collected
through various sources.
Textbook:
 Statistics for Business & Economics, 13e, David R. Anderson, Dennis J. Sweeney, Thomas A. Williams,
Jeffrey D. Camm, James J. Cochran, Cengage Learning, 2017
Reference Books:
 Statistics for Management, 7e, Richard I. Levin and David S. Rubin, Pearson, 2013
 Business Statistics, 7e, Amir D. Aczel and Jayavel Sounderpandian, McGraw, 2008
 Statistics – Concepts & Applications, 2e, Sahadeb Sarkar and Nabendu Pal , PHI Learning Pvt. Ltd.,
2008
 Statistics _ Conceps & Applications, 2e, Sahadeb Sarkar and Nabendu Pal, PHI Learning Pvt. Ltd.,
2008
 Statistics for Management, 3e, T.N. Srivastava, Shailaja Rego, McGraw Hill, 2016
Journals :
Nil
Links to websites:
Nil
Evaluation Scheme:
 Mid-Term Test 30%
 Quiz / Assignment 10%
 Case participation 10%
 Term- End Exam 50%
Total 100%
Session Plan:
Session Topic (including subtopics) Learning Outcomes Pedagogical Textbook Chapters &
Tool1 Readings
1-2 Data Visualization Student will learn Case Chapter
(Descriptive Statistics) converting raw Discussion: 1&2
 Tabular (Frequency Table), data into Relevant
Graphical (Histogram / meaningful case study to
Frequency Curve), summary. be given by
 Measures of Central the faculty
Tendency (Arithmetic
Mean),
 Measures of Variance
 Variance (Standard
Deviation), Measure of
Skewness
 Use of Excel functions
3-4 Discrete Probability Students will learn Application Chapter 4,5
Distribution the probability exercises
 Introduction to Probability models used in from the
 Bayes’ Theorem applications. Also Textbook
 Binomial Distribution – the assumptions
Poisson Distribution under each model.
 Use of Excel functions
Related Interpretation of output
summary
5-6 Normal Distribution Student will learn Application Chapter 6
 Properties, Standardizing the application problems
Random Variable, areas of normal form the
Applications, Numerical distribution and its Textbook.
 Problems, Use of Excel importance in
functions business
 Interpretation of output
summary on Normal
Distribution
7-8 Sampling Theory Students will learn Application Chapter 7
 Introduction to Inferential the basis for problems
Statistics, Management inference, form the
examples of Sampling, sampling Textbook.
Principles of Sampling, distribution and
 Methods of Sampling – determining the
Simple Random Sample, sample size
Excel functions for
selecting Random Sample.
 Sampling Distributions for
Statistics: Mean,
Proportion, Concept of
Standard Error,
Importance of Sample Size
9-10 Interval Estimates of the Students will learn Application Chapter 8
Mean from Large Samples about theory of problems
 Concept of Estimator, estimation of form the
Point Estimate, Margin of parameters in the Textbook.
Error & Interval Estimate population. Also
using Normal that of confidence
Distribution Concept & interval.
Importance of Confidence
level
 Determination of Sample
Size Concept of Degree of
Freedom, Interval
Estimation using t
distribution, Interval
estimates of the proportion
from large samples, related
Numerical Problems
11-12 Testing of Hypothesis (One Students will learn Application Chapter 9
sample tests for Arithmetic about sample problems
Mean (population standard based inference form the
deviation known and and the errors Textbook.
population standard likely to occur in
deviation unknown) application of the
 Hypothesis Testing for same. Also,
difference between means arriving at a
for large Sample & Small decision regarding
Sample cases (population the hypothesis.
Standard deviation(s)
known and, when they are
unknown)
13-14 Testing of Hypotheses (two Students will learn Application Chapter 10

sample tests) about testing for problems
 Hypothesis Testing for differences in two form the
difference between means population means Textbook.
for large Sample & Small in different
Sample cases (population situations.
Standard deviation(s)
known and, when they are
unknown),
 Paired (matched samples)
difference test,
 Related Interpretation of
output summary,
Hypothesis testing for
differences between
Means, Proportions, Use of
Excel functions & Related
Interpretation of output
summary
15 F-Test for inferences about Students will learn Application Chapter 10
two variances about testing for problems
Introduction to F table, One equality of two form the
Tailed test of two variances population Textbook.
variances.
16 Chi-Square Test Students will learn Application Chapter 12
 Chi square statistic, Chi about the usage of problems
square distribution, Chi chi square tests for form the
square table. independence and Textbook.
 Chi square test of for goodness of fit
independence
 Chi square test of goodness
of fit
 Conditions for using Chi-
Square test
17 Analysis of Variances Students will learn Application Chapter 13
(ANOVA) about testing for problems
 One way classification the equality of form the
model several means. The Textbook.
 Two way classification need for
model fulfillment of
 Excel functions. Related certain
Interpretation of output assumptions.
Summary.
18 Simple Correlation between Students will learn Applications Chapter 14
Related Variables about joint
 Simple linear regression variation, and
 Co-efficient of cause and effect
determination models and their
use
19-20 Multiple Regression Students will learn Applications Chapter 15
 Multiple Regression Model about joint
 Multiple Co-efficient of variation, and
determination cause and effect
models and their
use

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SVKM’s

NARSEE MONJEE INSTITUTE OF MANAGEMENT STUDIES

13-14 Testing of Hypotheses (two Students will learn Application Chapter 10

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