SBM-NMIMS: COURSE TEACHING PLAN

With Assurance of Learning components

Course
Code
Statistical Inference for Decision Making
Course Title

Course Arti Deo, Pradeep Pai, Somnath, Dinesh Panchal, T Kachwala, H Parshuram
Instructor/s
Credit 3credits ( 100 marks paper )
Value
Programme FTMBA 1st Year / Trimester I (2019-2020)
& Trimester
HBS Online Courses (Mathematics for Management & Quantitative Methods)
Pre-
requisite
Excel Foundation Program
CLOs – (in bracket state the PLOs to map with)

1) CLO1: Addressing real world issues involving uncertainty (PLO2a)

Learning 2) CLO2: Apply various Tools developed to help Managerial Decision Making (PLO3a)
Objectives 3) CLO3: Identify & Analyze Management Problems (PLO2b)
4) CLO4: Hypothesis test to challenge the status quo or some belief about an
underlying population parameter based on sample data (PLO2b)

1) Understanding how probability analysis can be used to provide helpful information for
decision making. Understanding how Bayes theorem can be used to obtain revised
probability (CLO1)

2) Understanding how to use Normal Distribution for Statistical Inference (CLO2)

3) Understanding how to compute & interpret interval estimates of population mean &
Learning population proportion (CLO3)
Outcomes
4) Understanding how to formulate hypothesis and how to conduct tests to determine
whether a hypothesis should or should not be rejected (CLO4)

5) Understanding how to develop estimated regression equation. How additional

variables can be incorporated in to a multiple regression model (CLO3)

Course
Description Probability Theory & Inferential Statistics

Specific assessment % AOL Instruments Intended CLOs to be

methods / tasks Weightage assessed
CLO 1 CLO 2 CLO 3 CLO4
Midterm test 30 Embedded Questions √
Evaluation Case Problem 10 Rubric √
Pattern
Quiz 1 10 Embedded Questions √
Quiz 2 10 Embedded Questions √

Final Examination 40 Embedded Questions √ √

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 Topics Chapter /article reference Cases / remarks
Sessions
Pre-reads/ Articles/
Chapters
Probability Rules for Risk Classical theory, Relative SIP: Probability to the Rescue
& Uncertainty Frequency Theory, Axioms, (Page Number 170)
1 Addition Rule, Multiplication
Rule, Rule of at least one,
Read ASW Chapter 4

Probability Numerical / Numerical Problems & Case Problem: Hamilton

2 Problems Applications, Read ASW County Judges (Page Number
Chapter 4 212)

Posterior Probability Concept of Expected

Number of Success, Bayes
3 Theorem – Numerical
Problems & Applications,
Read ASW Chapter 4

Binomial Distributions Discrete Probability SIP: Citibank (Page Number

Distribution, Binomial 216)
Distribution – Numerical
4
Problems, Use of Excel
functions, Read ASW
Chapter 5

Poisson Distributions Poisson Distribution –

5 Numerical Problems,
Use of Excel functions,
Read ASW Chapter 5
Normal Distribution Normal Distribution, SIP: Procter & Gamble -
Properties, Standardizing Cincinnati, Ohio (Page Number
6
Random Variable, Read 266)
ASW Chapter 6

Reverse Transformation Applications, Numerical Case Problem: Acceptable

Problems, Normal Pins
7 Approximation of
Binomial Probabilities,
Use of Excel functions,
Read ASW Chapter 6
Sampling Distributions Sampling Distributions for SIP: MeadWestvaco
Statistic Arithmetic Mean – Corporation - Stamford (Page
Concept of Standard Error, Number 299)
8
Standardizing Sampling
Mean, Numerical Problems,
Read ASW Chapter 7

Sampling Distributions Sampling Distribution

for Proportion of
9 Success, Standardizing
Proportion of Success,
Numerical Problems,
Read ASW Chapter 7

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 Topics Chapter /article reference Cases / remarks
Sessions
Pre-reads/ Articles/
Chapters
Interval Estimation Point Estimate, Interval SIP: Food Lion (Page Number
Estimate using Normal 343)
Distribution, Concept &
10 Importance of Confidence
Level, Determination of
Sample Size, Read ASW
Chapter 8

Interval Estimation Interval Estimate using t Case Problem: Bock

Distribution, Numerical Investment Services
11 Problems, Interval Estimate
for Proportion of Success,
Read ASW Chapter 8

Hypothesis Testing Introduction to Hypothesis SIP: John Morrel & Company

Testing (One Sample Tests (Page Number 383)
for Arithmetic Mean),
Procedure for Hypothesis
Testing, Selecting Null &
12
Alternate Hypothesis,
Importance of Level of
Significance (Type I & Type
II errors in Sampling), Read
ASW Chapter 9

Hypothesis Testing Testing of Hypothesis Case Problem: Quality

(One Sample Tests for Associates Inc. (Page Number
Arithmetic Mean) – 430)
13 Selecting Two tailed &
Single tailed test,
Procedure & Numerical
Problems, Use of Excel,
Read ASW Chapter 9
Hypothesis Testing Concept of p-value as an
alternate approach to
Testing of Hypothesis –
14
Procedure & Numerical
Problems, use of Excel,
Read ASW Chapter 9

Hypothesis Testing Testing of Hypothesis

(One Sample Tests for
Proportion of Success)
15
– Procedure &
Numerical Problems,
use of Excel, Read
ASW Chapter 9
Inferences about Population F Test for Inferences SIP: U.S. Government
Variance about Two Variances – Accountability Office (Page
16 Number 483)
Introduction to F table,
related Numerical
Problems, Excel

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 Topics Chapter /article reference Cases / remarks
Sessions
Pre-reads/ Articles/
Chapters
functions, Read ASW
Chapter 11
Analysis of Variance One way Classification SIP: Burke Marketing Services,
Model, Two way Inc. (Page Number 546)
17
classification Model –
Output based on Excel,
Read ASW Chapter 13
Correlation & Regression Correlation Analysis – Scatter SIP: Alliance Data Systems (Page
Diagram, Correlation Number 599)
Coefficient, Regression
18
Analysis, Least Square Method,
Coefficient of Determination,
Read Chapter 14

Correlation & Regression Testing of Significance – t test Case Problem – U.S. Department of
& F test based on Output Transportation (Page Number 672)
19 Summary using Excel Functions
& Data Analysis Menu, Read
Chapter 14

Interpretation of Output SPSS Functions for

Summary Descriptive Statistics &
20
Inferential Statistics
(Computer Lab Session)

Reading List Prescribed Text book

and Statistics for Business & Economics 12e by Anderson, Sweeney, Williams, Camm,
References
Cochran, Publication: Cengage Learning

References

1) Statistics for Management 7e by Richard Levin & David Rubin, Prentice Hall
India
2) Complete Business Statistics 7e by A Aczel, J Sounderpandian, P Saravanan,
R Joshi, McGraw Hill Education
3) Statistics – Concepts &Applications 2e by Nabendu Pal & Sahadeb Sarkar,
Prentice Hall of India
4) Statistics for Management 3e by T N Srivastava & Shailaja Rego, McGraw Hill
Education

Prepared by Faculty Team Recommended by Recommended by

Area Chairperson Program Chairperson

Approved by Faculty Approved by Approved by Dean SBM

Chair AOL Associate Deans

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Instruction for Use of Intellectual Property of NMIMS SBM.

(By Order, NMIMS SBM)

Course Outlines are strictly for private and restricted circulation among the concerned Faculty
Members and the Students of this Programme. They are permitted to use the contents for
study and research purpose only. No part of this Course outline can be copied, reproduced,
shared and/or circulated in any manner, through any mode, for any purpose and under any
circumstances whatsoever; which is contrary to the stated restricted uses and purposes. The
person responsible for violating this Instruction shall be liable for appropriate disciplinary
action initiated by SBM.

Disclaimer

While care has been taken in compiling this Course outline, The School of Business
Management of SVKM’s NMIMS University shall not be held liable in any manner to any
person for any mistake and / or omission in the contents of the Course outline.

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 Assurance of Learning Template: *MBA Program
Course Title Statistical Inference for Decision Making
Course Instructor(s) Arti Deo, Pradeep Pai, Somnath, Dinesh Panchal, T Kachwala, Parshuram
Credits 3credits ( 100 marks paper )
Program/Term FTMBA 1st Year / Trimester I (2019-2020)

MBA Program: Program Learning Objectives

PLO 1 An understanding of global issues impacting organizations
PLO 2 Critical thinking skills
PLO 3 An integrative approach to decision making
PLO 4 Effective communication and interpersonal skills
PLO 5 An understanding of CSR, ethical and sustainable business models

MBA Course Learning Objectives

CLO1 Addressing real world issues involving uncertainty (PLO2a)
Apply various Tools developed to help Managerial Decision Making
CLO2 (PLO3a)
CLO3 Identify & Analyze Management Problems (PLO2b)
Hypothesis test to challenge the status quo or some belief about an
CLO4 underlying population parameter based on sample data (PLO2b)
CLO5

Evaluation/Assessment

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 Component Weight AOL Instrument CLO1 CLO2 CLO3 CLO4
Midterm test
30 % Embedded Questions √
Case Problem
10 % Rubric √
Quiz 1 & 2
20 % Embedded Questions √
Final Exam 40 % Embedded Questions √ √
Total 100%

AOL Assessment
Criterion for the assessed CLO MBA Final Reported %
Below Expectation Below 65% Not More Than 20%
Meeting Expectation 65% - 75%
Exceed Expectation Above 75%
Recommendations and Action Points
Faculty: T Kachwala
Area: Operations
Program
Dean
Change, Alignment, Modification/Revision Report and Communication
Signatures: Faculty / Area / Program / Dean SBM

*mention the program as appropriate

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