MI4203 Business Statistics – I Syllabus:

MI4203 Business Statistics – I Syllabus – Anna University PG Syllabus Regulation 2021

COURSE OBJECTIVE:

The objective is to provide with a working knowledge of how to apply statistics to business situation.

UNIT I FUNDAMENTALS OF STATISTICS AND GRAPHICAL DISPLAYS

Fundamentals of statistics: What is statistics – Need for statistics in business – Data and information – Population and sample – Sampling – Sampling methods – data types – Frequency – relative frequency – frequency tables – Cross tabulation – Graphical representation of frequency distribution: histogram, frequency polygon, ogive pie-chart.

UNIT II DESCRIPTIVE AND INFERENTIAL STATISTICS

Descriptive statistics: descriptive and inferential statistics – grouped and ungrouped data – measures of central tendency, variability, dispersion: arithmetic mean, median, mode, quartiles, percentiles, deciles, interquartile, range, skewness kurtosis, standard deviation, variance – Application in business scenario.

UNIT III PROBABILITY

Probability : Basic concepts – axiomatic approach – classical definition – basic theorems – complements, union and intersection – venn diagrams – conditional probability, multiplicative law, independence event – total probability – Baye’s theorem.

UNI IV PROBABILITY DISTRIBUTION FOR DISCRETE RANDOM VARIABLES

Discrete random variable – Probability distribution for discrete random variable – Cumulative distribution function – Moments and variation – special distributions: Binomial, Poisson and Hypergeometric distributions.

UNIT V PROBABILITY DISTRIBUTION FOR CONTINUOUS RANDOM VARIABLES

Continuous random variable – Probability density function for continuous random variable – Cumulative distribution function – moments and variation – Special distribution: Exponential, uniform and normal distribution – Markov inequality – Chehychev’s inequality – Central limit theorem.

TOTAL: 45 PERIODS

COURSE OUTCOME:

 Develop and refine decision-making skills by basing decision upon the outcome of statistical tests.
 Analyze real world scenarios and determine the appropriate type of analytical problem solving technique to utilize.

REFERENCES:

1. S.C. Gupta and V.K. Kapoor, ‘Elements of Mathematical Statistics’, 3rd Edition, Sultan Chand & Sons, 2014, Chennai.
2. W. Mendenhall, R. Beaver and B.M. Beaver, ‘Introduction to Probability and Statistics’, CENGAGE Learning India Pvt. Ltd., 2016, New Delhi.
3. B.M. Aggarwal, ‘Essential of Business Statistics’, Ane Book Pvt. Ltd., 2016, Chennai.
4. Prem S. Mann, ‘Introductory Statistics’ Wiley Publications, 8th Edition, 2013, Singapore.
5. David M . Levine, ‘Business Statistics – A first course’ Person Publication, 7th Edition, 2015, Greater Noida.
6. Navai Bajpai, ‘Business Statistics’ Pearson Education, 2009, Greater Noida.
7. Sanjiv Jaggia and Alison Kelly, ‘Business Statistics’ – Communicating with numbers, Tata McGraw Hill, 2nd Edition, 2016, New Delhi.
8. L.J. Kazmier, Business Statistics, Schaum’s Outlines, 4th edition, Tata McGrawHill Publishing Company Limited, 2004, New Delhi.