BBS 1st Year Business Statistics Syllabus

BBS 1st Year Business Statistics Syllabus

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We have the BBS 1st Year Business Statistics Syllabus.

BBS 1st Year Business Statistics Syllabus

Following are the BBS 1st Year Business Statistics Syllabus:

Nature of Course: Compulsory.

Full Marks:100 Level: Bachelor BBS

Pass Marks:35 Year: First Lecture Hours:150.

Course Objective

  • The basic objective of this course is to provide students with an understanding of concepts of business statistics and to acquaint the students with the necessary statistical and mathematical tools and techniques to be used in business decision-making processes.

Course Description

  • This course comprises an introduction to statistics, classification and presentation of data, measures of central tendency, measures of dispersion, Skewness, kurtosis and moments, simple correlation and regression analysis, analysis of time series, index numbers, probability, sampling and estimation, quantitative analysis, determinant, and matrix.

Learning outcomes

On the completion of this course, students will be able to:

  • Classify, present, and analyze the business and management-related data.
  • interpret the data from the management perspectives.
  • Apply forecasting techniques in business and management.
  • Use quantitative techniques in different decision-making environments.
  • Apply the tool for cause-and-effect relationships in managerial decisions.
Unit 1: Introduction to Statistics 5 LHs

Contents:

  • Meaning, scope, and limitation of statistics.
  • Importance of statistics in business and management.
  • Types and sources of data.
  • Methods of collection of primary and secondary data.
  • Precautions in using secondary data, and Problems of data collection.

Unit 2: Classification and Presentation of Data 5 LHs

Contents:

  • Data classification: meaning, need, objectives, and types of classification.
  • Construction of frequency distribution and its principles.
  • Presentation of data: tabular presentation, diagrammatic presentation: bar diagram, Pie diagram, and graphic presentation.
  • Histogram, frequency polygon, frequency curve, and ogive.

Unit 3: Measures of Central Tendency 15 LHs

Contents:

  • Mean: simple and weighted (Arithmetic Mean, Geometric Mean, and Harmonic Mean).
  • Median; Partition values; Mode; Properties of averages.
  • Choice and general limitations of an average.
Unit 4: Measures of Dispersion 15 LHs

Contents:

  • Absolute and Relative measures; Range.
  • Quartile deviation; Standard deviation.
  • Coefficient of variation and Lorenz curve.

Unit 5: Skewness, Kurtosis and Moments 15 LHs

Contents:

  • Meaning, objective, and measurement of Skewness.
  • Karl Pearson’s and Bowley’s methods; Five-number summary.
  • Box-Whisker Plot; Kurtosis and its measurement by the Percentile method.
  • Meaning of moments: Central and raw moments and their relationship.
  • Measurement of Skewness and Kurtosis by the method of moments.

Unit 6: Simple Correlation and Regression Analysis 15

Contents:

  • LHs Karl Pearson’s correlation coefficient, including bi-variate frequency distribution.
  • Coefficient of determination; Probable Error(P.E.); Spearman’s rank correlation coefficient.
  • Concept of linear and non-linear regression.
  • Simple linear regression equations, including bi-variate frequency distribution, and Properties of regression coefficients.

Unit 7: Analysis of Time Series 15 LHs

Contents:

  • Meaning, need, and components of time series.
  • Measurement of trend: semi-average, moving average, method of least squares.
  • Measurement of seasonal variation.
  • Method of simple average and ratio to moving average (only quarters).
Unit 8: Index Numbers 15 LHs

Contents:

  • Meaning and types of Index Number.
  • General rule and problems in the construction of an index number.
  • Methods of constructing index numbers: simple and weighted (aggregative and average of price relative method), Laspeyre’s index number, Paasche’s index number, Fisher’s ideal index number.
  • Time and factor reversal tests.
  • Cost of living index number (or Consumer’s price index number): aggregative expenditure method and family budget method; and Base shifting and deflating.

Unit 9: Probability 10 LHs

Contents:

  • Definition of probability; Addition and multiplication theorem.
  • Application of the combination rule in probability and Conditional probability.

Unit 10: Sampling and Estimation 5 LHs

Contents:

  • Meaning of sample and population.
  • Census versus sampling; Sampling techniques; Concept of sampling distribution.
  • Standard error; Estimation: estimator, concept of types of estimates.
  • Point and Interval estimates.

Unit 11: Quantitative Analysis 15 LHs

Contents:

  • Introduction to Quantitative Analysis.
  • Application of management science: scientific approach to decision making.
  • Decision making under the condition of uncertainty: maximax (optimism), maximin(pessimism), minimax regret; Decision making under risk.
  • Expected Profit (EP) or Expected Monetary Value (EMV).
  • Expected Profit with Perfect Information (EPPI).
  • Expected Value of Perfect Information (EVPI).
  • Linear Programming Problem (LPP): Problem formulation with two decision variables, graphical solution of maximization and minimization problems.

Unit 12: Determinant 10 LHs

Contents:

  • Definition of determinant.
  • Methods for finding the numerical values of determinants up to three orders.
  • Properties of the determinant and its use to find the numerical values of determinants, and Cramer’s rule to solve simultaneous equations up to three variables.
Unit 13: Matrix 10 LHs

Contents:

  • Definition and types of Matrix.
  • Addition, subtraction, and multiplication of matrices; cofactors.
  • Transpose; Adjoin,t and inverse of a matrix.
  • Matrix method to solve simultaneous equations up to three unknown variables.

Suggested Readings:

1. Gupta, S.C., Fundamentals of Statistics for Management, Mumbai: Himalayan Publishing House. 2. Tulsian, P.C. & Pandey, Vishal, Quantitative Techniques: Theory and Problems, New Delhi: Pearson Education. 3. David, M.. Levine, Timothy, C. Krehbiel, & Mark, L. Berenson , Business Statistics: A First Course, USA:Prentice Hall. 4. Gupta, S.P., Statistical Methods, New Delhi: Sultan Chand and Sons. 5. Levine, Richard I, and David S. Rubin, Statistics for Management, New Delhi: Prentice Hall of India Pvt. Ltd. 6. Aitken,A.C. , Determinants and Matrices, UK: Amazon.

Hence, these are the BBS 1st Year Business Statistics Syllabus.

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