QUAN107
Business Statistics
Provide students with the concepts and special skills for simple and compound interest to improve financial decisionmaking 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 

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 

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