SUBJECT OUTLINE
Name of Subject 1 (Subject Code 1)
Statistics for Business Decisions (MEB-QTT101)
(Use a separate outline template for each subject in the course)
SECTION 1 – GENERAL INFORMATION
1.1 Administrative details
Associated higher Duration Level Subject
education awards (for example, one (for example, introductory, Coordinator
(for example, Bachelor, semester, full intermediate, advanced level,
Diploma) year) 1st year, 2nd year, 3rd year)
Master of Business
Prof. Nitin
Administration 18 months Introductory
Patwa
(Executive)
1.2 Core or elective subject
Indicate if the subject is a
core subject
elective subject
other (please specify below):
1.3 Subject weighting
Using the table below, indicate the credit point weighting of this subject and the
credit point total for the course of study (for example, 10 credit points for the subject
and 320 credit points for the course of study).
Subject credit points Total course credit points
Example: 10 credit points Example: 320 credit points
1 credit point 36 credit points
1.4 Student workload
Using the table below, indicate the expected student workload per week for this
subject.
No. timetabled hours No. personal study Total workload hours
per week* hours per week** per week***
18 18 36
* Total time spent per week at lectures, tutorials, clinical and other placements
etc.
** Total time students are expected to spend per week in studying, completing
assignments, etc.
*** That is, * + ** = workload hours.
1
1.5 Delivery mode
Tick all applicable delivery modes for the subject:
Face to face on site
E-learning (online)
Intensive (provide details)
Block release (provide details)
Work-integrated learning activity
Mixed/blended
Distance/independent learning (untimetabled)
Full-time
Part-time
External
Fast track (provide details)
Other (please specify)
1.6 Pre-requisites and co-requisites
Are students required have undertaken a prerequisite or co-requisite subject for this
subject?
Yes No
If YES, provide details of the prerequisite or co-requisite requirements below.
1.7 Other resource requirements
Do students require access to specialist facilities and/or equipment for this subject
(for example, special computer access, physical education equipment)?
Yes No
If YES, provide details of specialist facilities and/or equipment below.
2
Laptop and Statistical Softwares
SECTION 2 – ACADEMIC DETAILS
Assessment tasks
Type * When Weighting
(see examples noted assessed – (% of total marks
below this table) year, session for subject)
and week
(for example,
year 1,
semester 1,
week 1)
a) Obtain knowledge
of a broad range of Class Contribution &
statistical concepts Pre-Session
and tools useful for Sessions 3,5,7 15%
(Assessment)
managing business
b) Recognise the
importance of
variation and
understand how
statistics can Quiz Ongoing 10%
improve decisions
when faced with
uncertainty
c) Understand and
apply techniques of
sampling, sampling
distributions,
testing of Assignment & Seven days
hypothesis, analysis Course Project after completion 30%
of variance, simple of course
correlation and
multiple regression
tools
d) Understanding the
breadth of
application of
statistics and
applied probability Exam Exam week 45%
in today’s world
e) Develop skills
necessary to use
statistics in
employment
Total 100%
3
*Percentage composition subject to change
2.1 Session Wise Details
4
Days Quantitative Pre-Session Pedagogy
Technique
Day-1. Introduction to Calculation: Lecture: Reinforcement of
statistics: concepts using conceptual
Population and Measure of caslets.
Sample, Central Caselets/Cases/Exercise:
Sampling Tendency Decision Making.
population of Peer Discussion:
existing units, Measure of Situation Analysis & DM
Scales of Dispersion
Measurement, Methods of
Describing the Displaying
shape of Data
distribution.
Descriptive
Statistics:
Measurement
of Dispersion.
Day -2. Cont: of Baye’s law of Lecture: Reinforcement of
Descriptive probability, concepts using conceptual
Statistics, conditional caslets.
Introduction to probability, Caselets/Cases/Exercise:
Probability, Introduction to Decision Making.
Baye’s decision tree, Peer Discussion:
theorem, and Situation Analysis & DM
Expected application in
value. Decision decision
Analysis: the making.
decision table,
decision under
certainty,
decision under
uncertainty,
decision tree.
5
Days Quantitative Pre-Session Pedagogy
Technique
Day -3. Theorem of Introduction: Lecture: Reinforcement of
distribution- Application of concepts using conceptual
Continuous excel to caslets.
distribution compute the Caselets/Cases/Exercise:
(Normal probability of Decision Making.
distribution) events Peer Discussion:
Discrete Situation Analysis & DM
distribution
(Binomial &
Poisson
distribution)
Day -4. Sampling and Introduction: Lecture: Reinforcement of
Sampling Statistical concepts using conceptual
Distribution Inference: caslets.
Confidence Estimation & Caselets/Cases/Exercise:
Interval hypothesis Decision Making.
Estimation. testing: Peer Discussion:
Introduction to Situation Analysis & DM
Hypothesis
Testing
Day -5. Regression Introduction to Lecture: Reinforcement of
analysis Multiple concepts using conceptual
( Simple and Regression caslets.
Multiple)Multipl Analysis: the Caselets/Cases/Exercise:
e Regression multiple Decision Making.
Analysis: the regression Peer Discussion:
multiple model, R- Situation Analysis & DM
regression square and
model, test of adjusted R-
significance of square.
the coefficients
of model,
residual
analysis, R-
square and
adjusted R-
square
6
Days Quantitative Pre-Session Pedagogy
Technique
Day -6. Forecasting Introduction to Lecture: Reinforcement of
Methods: Forecasting, concepts using conceptual
Introduction to time series caselets.
Forecasting components Caselets/Cases/Exercise:
Exponential Decision Making.
smoothening. Peer Discussion:
Moving Situation Analysis & DM
average
method and
Seasonality
assessment
Note: Cases/ Case-lets will be given on day to day basis. There may be a swap between
5 & 6.
2.2 Prescribed and recommended readings
Provide below, in formal reference format, a list of the prescribed and
recommended readings for the subject.
Recommended Texts:
Black, K. (2009). Business Statistics for contemporary Decision Making, (5th ed.).
London: John Wiley
Albright, C., Winston, W. and Zappe, C. (2006). Data Analysis & Decision Making With
Microsoft ® Excel. Singapore: Thomson Asia P. Ltd
“ Complete Business Statistics (By: Amir D Aczel & Jayavel Sounderpandian, The
McGraw-Hill Publication.)”
2.3 Assignment
Assignments are to be typed and neatly formatted (12 font size, Calibri or Times New Ro
man font, 1.25‐inch margins). 25% of the assignment points will be deducted for late sub
mission.
For every 24 hours that pass subsequently, a further 25% of the points will be reduced.
