Business Statistics and Analytics

(10 Sessions): Descriptive Statistics Meaning, Scope, types, functions and limitations of statistics, Measures of Central tendency – Mean, Median, Mode, Quartiles, Measures of Dispersion – Range, Inter quartile range, Mean deviation, Standard deviation, Variance, Coefficient of Variation, Skewness and Kurtosis.

(8 Sessions): Time Series & Index Number Time series analysis: Concept, Additive and Multiplicative models, Components of time series, Trend analysis: Least Square method - Linear and Non- Linear equations, Applications in business decision-making. Index Numbers: - Meaning, Types of index numbers, uses of index numbers, Construction of Price, Quantity and Volume indices: - Fixed base and Chain base methods.

(6 Sessions): Correlation & Regression Analysis Correlation Analysis: Rank Method & Karl Pearson's Coefficient of Correlation and Properties of Correlation. Regression Analysis: Fitting of a Regression Line and Interpretation of Results, Properties of Regression Coefficients and Relationship between Regression and Correlation.

(8 Sessions): Probability Theory & Distribution Probability: Theory of Probability, Addition and Multiplication Law, Baye’s Theorem Probability Theoretical Distributions: Concept and application of Binomial; Poisson and Normal distributions. Introduction to bivariate and multivariate data analysis (Cluster and Factor analysis)

Hypothesis Testing: Null and Alternative Hypotheses; Type I and Type II errors; Testing of Hypothesis: Large Sample Tests, Small Sample test, (t, F, Z Test and Chi Square Test) Concept of Business Analytics- Meaning types and application of Business Analytics, Use of Spread Sheet to analyze data-Descriptive analytics and Predictive analytics.