QUAN107

Business Statistics 

Provide students with the concepts and special skills for simple and compound interest to improve financial decision-making in business firm.

Text Book: Statistical Techniques in Business and Economics , By Douglas A. Lind, William G. Marchal, and Samuel A. Wathen.

http://highered.mheducation.com/sites/0073401765/student_view0/index.html

Course Outlines

Chapter

Title

Topics

No. Week

1

Basic Concepts of Statistics

Introduction - What is Meant by Statistics? -  Types of Statistics - Population versus Sample - Types of Variables - Levels of Measurement.

1

2

Describing Data: Frequency Distributions and Graphic Presentation.

Introduction - Constructing a Frequency Table – Bar Chart – Pie Chart. Constructing a Frequency distribution - Relative Frequency Distribution - Histograms - Frequency polygons - Cumulative frequency distributions.

2

3

Describing Data:  Numerical Measures

Introduction - Population Mean - Sample Mean – Properties  of the Arithmetic Mean –The Median - Properties of the Median -  The Mode - The Relative Positions of the Mean, Median and Mode –Why Study Dispersion - Measures of Dispersion - Range -Mean Deviation  - Variance and Standard Deviation - The Arithmetic Mean of Grouped Data - Variance  and Standard Deviation for  Grouped Data.

2

4

Describing Data: Displaying and Exploring Data

Introduction – Dot Plots - Stem and Leaf – Quartiles, Deciles and Percentiles - Box plots.

1

5

A Survey of Probability Concepts

Introduction – What is a Probability – Approaches to Assigning Probabilities - Classical Probability - Mutually Exclusive Events - Collectively Exhaustive Events - Rules for Computing Probabilities –Rules of addition – Rules of Multiplication - Conditional Probability - Contingency Tables.

1

 
 
 
6

Probability Distributions

Probability Distribution - Characteristics of a Probability Distribution - Random Variables - The Mean of a Probability Distribution - The Variance, and Standard Deviation of a Probability Distribution.

1

Discrete Probability Distributions

Binomial Probability Distribution - Poisson Probability Distribution.

1

7

Continuous Probability Distributions

  Characteristics of a Normal Probability Distribution - The Normal Probability Distribution.

1

 
8

Sampling Methods

Need for sampling – Methods of sampling: Simple Random Sampling, Systematic Sampling, Stratified Sampling, Cluster Sampling.

1

Sampling distributions

Concept of sampling distribution. Sampling distribution of sample mean.

1

 

12

Course Materials