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Course outline for MBA (PT) Course name: Statistics Analysis for Business Decisions | Course Code: | Term: Trimester I (Operations Management & Decision Science) | Course Objective:To familiarize the participants on the following: (a) Descriptive Statistics - Concepts / Applications(b) Inferential Statistics – Concepts / Applications(c) Scope and Limitation of Use | Evaluation Criteria: Mid Term Test: 30 marks Test 2 / Quiz: 10 marks Test 3 / Quiz: 10 marks End Term Exam: 50 marks | Faculty: Prof. (Dr.) Tohid Kachwala (email contact tkachwala@nmims.edu, Cabin number: 729, Mobile: 9869166393, Extension: 5871) | Pedagogy: 1. Use of problem solving for all the topics. 2. Use of Statistics in Practice / Case lets / Case studies. 3. Use of Software like Excel / SPSS. | Session Outline: | Session | Topic / Description | 1 | Introduction to Probability – Experiments, Assigning Probabilities, Some basic relationships of Probability Read ASW Chapter 4 or LR Chapter 4 | 2 | Theories of Probability - Classical theory, Relative Frequency theory, Axioms, Addition rule, Multiplication rule, Rule of at least one, Concept of Expected number of Success – Numerical Problems & Applications Case Problem: Hamilton County JudgesSIP: Morton International - Chicago, Illinois Read ASW Chapter 4 or LR Chapter 4 | 3 | Bayes Theorem – Theory, Problems & Applications, Probability revision using tabular approach Read ASW Chapter 4 or LR Chapter 4 | 4 | Probability Distribution - Meaning of Probability Distribution, Type of Probability Distribution, Need (Application) for Probability DistributionRead ASW Chapter 5 or LR Chapter 5 | 5 | Discrete Probability Distribution - Binomial Distribution – Applications, Numerical Problems, Excel & SPSS functions, Poisson Distribution…...

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