Managerial Statistics

Unit 1

Quantitative methods: Basic terminology in probability, probability rules, conditions of statistical dependence and independence, Bayes Theorem, Discrete Random Variables review of probability distributions, measure of central tendency.

Sampling and sampling distributions: Introduction to sampling, random sampling, design of experiments, introduction to sampling distributions.

Estimation: point estimates, interval estimates and confidence intervals, calculating interval estimates of mean from large samples, using t test, sample size estimation.

Unit 2

Testing hypothesis: Introduction, basic concepts, testing hypothesis, testing when population standard deviation is known and not known, two sample tests.

Chi-square and analysis of variance: introduction, goodness of fit, analysis of variance, inferences about a population variation.

Unit 3

Regression and correlation: Estimation using regression line, correlation analysis, finding multiple regression equation, modelling techniques,

Non parametric methods and time series and forecasting: Sign test for paired data, rank sum test, rank correlation, Kolmogrov – smirnov test, variations in time series, trend analysis, cyclic variation, seasonal variation and irregular variation. Decision theory: Decision tree analysis.