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Far-western University
Faculty of Management
Course Title: Business Statistics and Mathematics Full Marks: 100
Course No.: STAT 1001 Pass Marks: 45
Nature of the Course: Theory/Practical Time per Period: 1 hour
Year: First Total Periods: 120
Level: BBS
1. Course Description
This course deals with the application of statistical tools in business decision making and covers
data collection, tabulation and presentation, techniques of summarizing and describing numerical
data, basic concepts of probability, correlation & regression, time series & forecasting. Moreover,
it provides knowledge of system of linear equations, matrices, determinant and their applications
in the business and economics.
2. Course Objectives
The general objectives of the course are as follows:
To familiarize the students with descriptive statistical tools.
To familiarize the students with the concept of probability, establishment of relationship
between variables and forecasting.
To provide students with a sound understanding of matrix algebra for business decisions.
To provide the basic knowledge of differentiation and integration.
To provide the sound knowledge of excel program to handle various problems of statistics
3. Specific Objectives and Contents
Unit objectives
Contents
Describe the applications of statistics in
business
Explain the various terminologies of
statistics
Distinguish between quantitative and
categorical variables
Explain with measurement scales
Demonstrate with excel and excel
graphical and statistical functions
Unit 1: Introduction (5 hrs.)
1.1 An Overview of Statistics
1.2 Statistics for Managers
1.3 Basic Vocabulary of Statistics
1.4 Types of Variables
1.5 Scales of Measurement
1.6 Microsoft Excel Worksheets
After completing this unit, students will
be able to:
Explain the difference between
primary and secondary data
Unit 2: Data Collection, Presenting Data in Tables
and Charts (14 hrs.)
2.1 Tables and Charts for Categorical Data
2.1.1 The Summary Table
2.1.2 The Bar Chart
2.7

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Develop tables and charts for
categorical data
Develop tables and charts for numerical
data
Construct a frequency distribution and a
histogram
Construct relative and cumulative
frequency distributions
Construct a stem-and-leaf display to
represent data
Visually represent data by using graphs
and charts
Construct a scatter diagram
2.1.3 The Pie Chart
2.1.4 The Pareto Diagram
2.2 Organizing Numerical Data
2.2.1 The Ordered Array
2.2.2 The Stem-and-Leaf Display
2.3 Tables and Charts for Numerical
Data
2.3.1 The Frequency Distribution
2.3.2 The Relative Frequency Distribution and
the Percentage Distribution
2.3.3 The Cumulative Distribution
2.3.4 The Histogram
2.3.5 The Polygon
2.3.6 The Cumulative Frequency Curve (Ogive)
2.4 Cross Tabulations
2.4.1 The Contingency Table
2.4.2 The Side-by-Side Bar Chart
2.5 Scatter Plots and Time-Series Plots
2.5.1 The Scatter Plot
2.5.2 The Time-Series Plot
2.6 Microsoft Excel Graphs
After completing this unit, students will
be able to:
Describe the applications and uses of
central tendency, variation, and shape
in numerical data
Identify descriptive summary measures
for a population
Construct and interpret a box-and-
whisker plot and shape of the
distribution
Unit 3: Numerical Descriptive Measures (17 hrs.)
3.1 Measures of Central Tendency
3.1.1 The Mean
3.1.2 The Median
3.1.3 The Mode
3.1.4 Partition values( Quartiles, Deciles and
Percentiles)
3.1.5 The Geometric Mean
3.2 Variation and Shape (Measurement of Dispersion
and Shape)
3.2.1 The Range
3.2.2 The Inter quartile Range
3.2.3 The Variance and the Standard Deviation
3.2.4 The Coefficient of Variation
3.2.5 Shape
3.2.6 Visual Explorations: Exploring
Descriptive Statistics
3.2.7 Microsoft Excel Descriptive Statistics
Results
3.3 Numerical Descriptive Measures for a Population
3.3.1 The Population Mean
3.3.2 The Population Variance and Standard
Deviation
3.4 Exploratory Data Analysis
3.4.3

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 Far-western University Faculty of Management Course Title: Business Statistics and Mathematics Full Marks: 100 Course No.: STAT 1001 Pass Marks: 45 Nature of the Course: Theory/Practical Time per Period: 1 hour Year: First Total Periods: 120 Level: BBS 1. Course Description This course deals with the application of statistical tools in business decision making and covers data collection, tabulation and presentation, techniques of summarizing and describing numerical data, basic concepts of probability, correlation & regression, time series & forecasting. Moreover, it provides knowledge of system of linear equations, matrices, determinant and their applications in the business and economics. 2. Course Objectives The general objectives of the course are as follows: To familiarize the students with descriptive statistical tools. To familiarize the students with the concept of probability, establishment of relationship between variables and forecasting. To provide students with a sound understanding of matrix algebra for business decisions. To provide the basic knowledge of differentiation and integration. To provide the sound knowledge of excel program to handle various problems of statistics 3. Specific Objectives and Contents Unit objectives Contents Describe the applications of statistics in business Explain the various terminologies of statistics Di ...
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