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QUANTITATIVE TECHNIQUES FOR MANAGEMENT UNIT I Introduction to statistics: Importance of Statistics for Managers Scales of Measurement Basic statistical

al concepts Population, sample, Types of Statistics , Parameter and Statistic- Frequency Distribution Relative frequency, Cumulative frequency Graphical presentation of Data Bar chart, Pie chart , Histogram, Frequency Polygon, Ogive, Pareto chart, Stem and Leaf plot, Scatter plot. Unit II Measures of central tendency and measures of dispersion: Mathematical Averages: Arithmetic mean, Weighted Arithmetic mean, Geometric mean, Harmonic mean, Weighted Harmonic Mean, Relationship between Arithmetic mean, Geometric mean and Harmonic mean- Positional Averages: Median, Mode Partition values: Quartiles, Deciles, Percentiles Importance , Merits and Demerits of the various Measures of central tendency Properties of a good measure of dispersion - Range, Inter quartile range, quartile deviation, Mean deviation, Mean absolute deviation, standard deviation, coefficient of variation Chebyshevs theorem Measures of Shape: Skewness, coefficient of skewness and kurtosis- The five number summary UNIT III Probability: Basic concepts of Probability Probability assigning techniques, Types of Probability: Marginal, Union, Joint and Conditional Probabilities Basic probability rules: rule of addition, Rule of MultiplicationBayes Theorem Probability Distribution: Random Variables Discrete Probability distribution: Mean, Expected value, variance, Standard deviation, Binomial Distribution , Poisson Distribution Continuous probability Distribution: Normal curve, Standard normal probability distribution , Normal approximation of binomial probabilities. UNIT IV Sampling and Sampling Distributions: Random sampling methods, Non random sampling methods, Sampling and / Non sampling error, Central limit theorem Estimation & Confidence Intervals-Types of estimates - Point estimates and confidence intervals for a mean and proportion Testing of Hypothesis: Procedure for testing of hypothesis Hypothesis testing for single population using Z statistics Hypothesis testing for single population using t statistics Hypothesis testing for difference between two population using Z-statistics F test Analysis of variance one way and two way classification. UNIT V Chi square Test, Time series and Forecasting: Goodness of Fit test, Test of Independence, Test of homogeneity Correlation & Regression: Concepts of correlation-Types of correlationKarl Pearsons coefficient of correlation - Types of regression-Regression CoefficientsMethod of least square Time series and Forecasting: Components of a time series Secular trend, Cyclical variation, Seasonal variation and Irregular variation Moving averages &Weighted averages, Quantitative methods for Forecasting - trend analysis, Seasonal variation Text Books:

1. Bajpai, Business Statistics, Pearson,2010 2. Levin, Rubin, Statistics for Management, PHI, 2009 Reference Books: 1. Anderson, Sweeney, Statistics for Business and Economics, Cengage, 2009 2. Aczel ,Sounderpandian, Complete Business Statistics, Tata McGraw Hill, 2009 3. Beri, Business Statistics Tata McGraw Hill 2010

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