Faculty of Management

IMBA Programme
Business Statistics

Course Code: 230501302 Course Credit: 3

Programme Objectives (PO):

O1: To gear-up participants towards attaining higher levels of managerial
proficiency in various functional areas of business, organizational management or
entrepreneurship required for a successful career in management discipline.
O2: To equip the students with necessary tools and techniques for handling
complex business as well as management problems and uncertainties in work
encompassing various managerial functions like marketing, finance, leadership,
logistics, human resource, operations, supply chain, industrial relations etc.
O3: To nurture, groom and develop all-round management professionals honed
with analytical, problem-solving, decision-making, team building, communication,
leadership, critical-thinking, innovative, receptive and resource-allocation abilities.
O4: To instil spirit of fair-competition, accommodation, achievement orientation
amongst participants and raise them with rare duality of thinking-and-doing skills by
creating environment and opportunities for experiential learning within the extended
institutional ecosystem.
O5: To impart relevant, current and cutting-edge knowledge from the advanced
and emerging areas of business such as green-tech, info-tech, fin-tech and bio-tech
etc.
O6: To ignite the passion for entrepreneurship in management graduates by
promoting creativity and innovation by facilitating in cultivating critical thinking and
development of analytical mindset.
O7: To bring out Industry-ready young professionals having necessary individual
and professional competencies to excel at regional, national and international level.
O8: To promote practice-oriented research for identifying and solving important as
well as complex problems and foster the aptitude towards contributing towards shared
organizational goals with best of the abilities.
O9: To create morally and ethical sound leaders committed to the welfare of
community and society by practising with compassion and empathy.
 1O: To promote diversity and inclusiveness in active engagement with community
and society whilst committing one’s efforts towards highest possible standards of
societal, governance and ecological benchmarks leading to equity and sustainability.

Introduction
Understanding statistics is essential to understand research in the social and behavioural
sciences. In this course, students will learn the basics of statistics; not just how to calculate
them, but also how to evaluate them. The topics covered in this course are measures of
central tendency, measures of dispersion, study of relationships between variables through
correlation and regression. probability and probability distributions followed by sampling –
its estimation and testing of hypotheses.

Course Objectives
1: To expose the students to basic statistical tools and techniques.
2: To make students aware of statistical techniques that help in managerial decision making
through examples and cases drawn from different functional areas.

❖ Course Duration:
The course duration is 35 sessions of 55 minutes each.

❖ Course Content:

Module Modules/Sub-Modules No. of %

No. Sessions Weightage
I Measure of Central Tendency: 8 25%
Introduction to statistics, purpose of statistics, Mean,
Median, Mode merits and demerits, Measure of
Dispersion: Range, mean deviation, standard deviation,
coefficient of variations with grouped frequency data.
II Correlation and Regression Analysis: Meaning, 12 25%
interpretation and Importance of Correlation, Coefficient
of correlation, Rank Correlation.
Regression – Difference between regression and
correlation, simple linear regression model, principles of
least squares, Regression lines and regression
coefficients and its properties, Coefficient of
Determination and its interpretation, Curve fitting.
III Probability & Probability Distribution 9 25%
Basic Concepts of Random Experiment, Events, Sample
Space, Mutually Exclusive Events, Equally Likely
Events, Independent Events, Dependent Events, Law of
Addition, Law of Multiplication and conditional
probabilities, Baye’s Rule, Concept of discrete Random
 variables and continuous random variable: Its expectation
and variances. Meaning of Probability Distribution,
Discrete Probability Distributions, Binomial Distribution,
Poisson Distribution, Continuous Probability
Distribution, Normal distribution.
IV Sampling and Sampling Distribution: Concept of 6 25%
Sampling and its type, Central Limit Theorem, Statistical
Estimation for Single and Two Populations, Hypothesis
Testing for Single and two Populations-Mean and
Proportion.

❖ Course Outcomes (CO):

CO1: Understand descriptive statistics (measures of central tendency and
measures of dispersion) to summarize and explore data
CO2: Assess and Evaluate relationships between variables by introducing the
concept of Correlation and Regression.
CO3: Calculate probability by applying the basic rules of addition and
multiplication, computing conditional probability and Baye’s theorem. Model
data with probability distributions for continuous and discrete variables.
CO4: Understand the concept of sampling and its relevance in the domain of
research using various analytical and inferential tools of hypothesis testing.

❖ Teaching Scheme
Teaching Scheme (Hours): 35
Course Credit: 3
Theory Tutorial Practical
05 0 30

❖ Examination Scheme
Examination Scheme
Total
CEC Marks
Exter Inter Quiz Group Any other (Please Mention) -
nal nal Quiz 1 2 Projects CP____________________
50 20 10 5 5 10 100

❖ Teaching Methods:
The following pedagogical tools will be used to teach this course:
(1) Lectures & Discussions
(2) Research Papers
(3) Case Analysis

Supplementary Readings:

1. Bharat Jhunjhunwala, Business Statistics, S.Chand

2. J.K. Sharma, Business Statistics, Pearson
 3. S. P. Gupta, Statistical Methods, S. Chand

List of Journals / Periodicals / Magazines / Newspapers / etc.:

The students will have to refer to past issues of the following journals to get relevant
information pertaining to the subject.
● Sankhya: The Indian Journal of Statistics
● Advances and Applications in Statistics
● Advances in Applied Probability
● Advances in Statistical Analysis

❖ Session Plan:
Session No. Topics / Chapters
1 Introduction to statistics, purpose of statistics
2 Mean, properties, merits and demerits
3 Mean - Problem sums for Individual, Discrete and Continuous series
4 Median, properties, merits and demerits
5 Median - Problem sums for Individual, Discrete and Continuous series
6 Mode, properties, merits and demerits
7 Mode - Problem sums for Individual, Discrete and Continuous series
8 Measure of Dispersion: Introduction
9 Range, Mean Deviation Introduction
10 Range - Problem sums for Individual, Discrete and Continuous series
11 MD - Problem sums for Individual, Discrete and Continuous series
12 Standard deviation
13 SD - Problem sums and cases
14 Coefficient of variations – Problem sums and cases
15 Meaning, interpretation, and Importance of Correlation
16 Coefficient of correlation
17 Rank Correlation
18 Regression - Difference between regression and correlation, simple linear
regression model, principles of least squares,
19 Regression lines and regression coefficients and its properties
20 Problem sums – Regression coefficient and regression equation
21 Bi variate correlation and regression
22 Coefficient of Determination and its interpretation, Curve fitting.
23 Probability - Basic Concepts of Random Experiment, Events, Sample
Space, Mutually Exclusive Events, Equally Likely Events, Independent
Events, Dependent Events.
24 Law of Addition and sums
25 Law of Multiplication and sums
26 Conditional probabilities
27 Baye’s Rule and sums
28 Concept of discrete Random variables and continuous random variable: Its
expectation and variances.
29 Meaning of Probability Distribution, Discrete Probability Distributions,
Binomial Distribution, Poisson Distribution
30 Binomial Distribution – Probability distribution sums, Poisson Distribution
31 Continuous Probability Distribution, Normal distribution
 32 Introduction to the concept of Sampling, Sampling methods
33 Computation of Standard Error, Confidence Interval
34 Central Limit Theorem, Statistical Estimation for Single and Two
Populations
35 Hypothesis Testing for Single and two Populations-Mean and Proportion.

Suggested theory Distribution

The suggested theory distribution as per Bloom’s taxonomy is as follows.

Distribution of theory for Course delivery and evaluation

Remember Understand Apply Analyse Evaluate Create
10% 20% 30% 20% 10% 10%

Instructional Method: (Case Study, MOOC, Industrial Visit, Workshop)

l. The course delivery method is solving the problems on the white board. The theory is
explained through illustrations and sums are solved.
2. The internal evaluation will be done on the basis of continuous evaluation of students on
the basis of the practical project given to them which consists of applying the concept to real
life problems.
3. Students will use supplementary resources such as online videos, NPTEL videos. E
courses.