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MIB 105
Credit Units: 04
Learning Outcomes:
At the end of the course students will be able to: Use statistical techniques to collect and analyse data Produce forecasts using statistical packages Apply quantitative techniques to business situations.
Course Contents:
Module I: Introduction Quantitative Decision Making - An Overview, Collection, Classification & Presentation of Data, Measures of Central Tendency - Mean, Median, Mode, Geometric Mean & Harmonic Mean, Measures of Dispersion Range, Quartile Deviation, Average Deviation & Standard Deviation. Module II: Forecasting Techniques & Time Series Analysis Business Forecasting Correlation Regression analysis & its Applications for Managers Various Components of Time Series & their Analysis Use of Statistical Packages such as MS Excel /SPSS for Forecasting & Analysis Module III: Sampling, Sampling Distributions & Testing of Hypothesis Sampling Fundamentals Different Methods of sampling Sampling Distributions Testing of Hypotheses: Hypothesis Testing for Means & Proportions Module IV: Probability, Probability Distributions & Decision theory Basic Concepts of Probability Discrete Probability Distribution Continuous Probability Distributions Decision Theory : Introduction to Decision Making, Decision Environments & Decision Trees Module V: Linear Programming Introduction of Operations Research, Scope and Models in Operations Research, Introduction of Linear Programming, Formulation of LPP & its Applications to Managers.
Learning Methods:
A series of lectures will impart information and be complemented by interactive tutor-led and student-led discussion. Teaching consists of 3 hours per week. The unit has thus been designed to use a variety of teaching methods that should help students to quantitatively study the various aspects of international business environment.
Formative tasks and presentations will enable students to build towards the completion of their assignment during the delivery of the unit.
Examination Scheme:
Components Weightage (%) C1 10 CT 10 V 5 A 5 EE 70