Business Statistics & Analytics (BMB-104)

Syllabus

BUSINESS STATISTICS & ANALYTICS (BMB – 104)
Unit I : Descriptive Statistics: Meaning, Scope, types, functions and limitations of statistics, Measures of Central tendency – Mean, Median, Mode, Quartiles, Measures of Dispersion – Range, Inter quartile range, Mean deviation, Standard deviation, Variance, Coefficient of Variation, Skewness and Kurtosis.
Unit II:Time Series & Index Number: Time series analysis: Concept, Additive and Multiplicative models, Components of time series, Trend analysis: Least Square method – Linear and Non- Linear equations, Applications in business decision-making. Index Numbers:- Meaning , Types of index numbers, uses of index numbers, Construction of Price, Quantity and Volume indices:- Fixed base and Chain base methods.
Unit III: Correlation & Regression Analysis: Correlation Analysis: Rank Method & Karl Pearson’s Coefficient of Correlation and Properties of Correlation. Regression Analysis: Fitting of a Regression Line and Interpretation of Results, Properties of Regression Coefficients and Relationship between Regression and Correlation.
Unit IV: Probability Thoery & Distribution: Probability: Theory of Probability, Addition and Multiplication Law, Baye’s Theorem Probability Theoretical Distributions: Concept and application of Binomial; Poisson and Normal distributions. Introduction to bivariate and multivariate data analysis( Cluster and Factor analysis)
Unit V: Hypothesis Testing& Business Analytics: Hypothesis Testing: Null and Alternative Hypotheses; Type I and Type II errors; Testing of Hypothesis: Large Sample Tests, Small Sample test, (t, F, Z Test and Chi Square Test) Concept of Business Analytics- Meaning types and application of Business Analytics, Use of Spread Sheet to anlayze data-Descriptive analytics and Predictive analytics.