Vision: To be a global centre of excellence for management education and
research by creating and providing knowledge to the youth so that they
become global business leaders
Mission:
M1: To establish and maintain a network with highly qualified educators
and professional in the corporate and social sphere
M2: To create well-rounded individuals who can lead in a changing global
business environment
M3: To constantly reinvent academic methods and procedures in order to
satisfy the needs of a changing corporate environment and talent’s meaning
POST GRADUATE DIPLOMA IN MANAGEMENT
Class of PGDM Semester: I
Course Code & Title Business Statistics & Analystics for Decision
Making
Credits 3
Faculty Prof. Sai Kishore N
E-mail ID nkishore@[Link]
I Course Overview:
This course aims to equip the students with a robust understanding of statistical methods
essential for effective decision-making in the business world. Emphasizing practical applications, the
course covers a range of topics from descriptive statistics to advanced inferential , leveraging tools
like Excel . Through real-world examples and hands-on practice, students will gain the skills needed
to analyze data, interpret results, and apply statistical techniques to solve complex business problems.
II Course Objectives :
The objectives of the course are to
1. Understand the descriptive Statistics principles and apply the methods to summarize and
present data effectively.
2. Apply Probability theory and distribution models to assess risk and make data-driven decisions
and apply the correlation & regression for the prediction of the business.
3. Conduct & Evaluate the data by the statistical inference for various sample sizes to guide
business decisions.
4. Apply nonparametric methods when data does not meet parametric assumptions.
5. Analyse time series data to forecast trends and make informed strategic decisions.
III Program Outcomes of VVISM: On successful completion of the program the student will be able
to:
PO 1: Apply knowledge of management theories and practices to solve business problems.
PO 2: Foster analytical and critical thinking abilities for data-based decision-making
PO 3: Ability to develop value based leadership ability
PO 4: Ability to understand, analyses and communicate global, economic, legal and ethical aspects of business
PO 5: Ability to lead themselves and others in achievement of organizational goals, contributing effectively to
the environment.
1
Vision: To be a global centre of excellence for management education and
research by creating and providing knowledge to the youth so that they
become global business leaders
Mission:
M1: To establish and maintain a network with highly qualified educators
and professional in the corporate and social sphere
M2: To create well-rounded individuals who can lead in a changing global
business environment
M3: To constantly reinvent academic methods and procedures in order to
satisfy the needs of a changing corporate environment and talent’s meaning
IV. Course Outcomes (CO):
CO1: Understand the use of business and descriptive statistical tools for effective data presentation.
CO2: Apply probability distribution theories to optimize business operations and risk management .
CO3: Evaluate the statistical inference to draw conclusions and make data-backed decisions.
CO4: Apply correlation and regression methods to optimize business decisions, such as pricing
strategies or resource allocation.
CO5: Apply time series data to forecast trends and make informed strategic decisions.
PO 1 PO 2 PO 3 PO 4 PO 5
CO 1 L
CO 2 M
CO 3 H
CO 4 M
CO5 M
I. Session Plan
Sessio Topic/Sub Session Details
n No. Topic
1-3 Measures of Textbook/ Beri, G. C. (2010). Business Statistics (3rd ed.). Tata
dispersion - Material McGraw Hill Education Pvt. Ltd.
Coefficient of
Variation
Pedagogy LBL, CBL,PBL,SBL
CO 1
SLO Students will gain a comprehensive understanding of
statistics by articulating its definition and significance
in business decision-making,
4-5 Skewness & Textbook/ Beri, G. C. (2010). Business Statistics (3rd ed.). Tata
Kurtosis Material McGraw Hill Education Pvt. Ltd
practical Pedagogy LBL, CBL, , PBL
approach:using CO 1
excel
SLO Students will be able to use profit /loss patterns ,risk
modeling ,calculate and interpret, applying these skills
to real-world management scenarios
2
Vision: To be a global centre of excellence for management education and
research by creating and providing knowledge to the youth so that they
become global business leaders
Mission:
M1: To establish and maintain a network with highly qualified educators
and professional in the corporate and social sphere
M2: To create well-rounded individuals who can lead in a changing global
business environment
M3: To constantly reinvent academic methods and procedures in order to
satisfy the needs of a changing corporate environment and talent’s meaning
6-7 Introduction to Textbook/ Beri, G. C. (2010). Business Statistics (3rd ed.). Tata
probability in Material McGraw Hill Education Pvt. Ltd ,
Business Pedagogy LBL, CBL, PBL.
Definitions and
CO 2
problems on
addition and SLO Students will be able to use probability theory to solve
multiplication problems involving various methods and calculate and
problems
interpret, applying these skills to real-world
management scenarios
8-10 Discrete Textbook/ 1. Beri, G. C. (2010). Business Statistics (3rd ed.). Tata
probability Material McGraw Hill Education Pvt. Ltd.
distributions 2. JK Sharma(2008), Business Statistics, 2nd/e,
(binomial Pearson Education.
distribution)
Pedagogy LBL, CBL, PBL, EL, GL.
CO 2
SLO Students will be proficient in calculating and
interpreting correlation coefficients to evaluate the
strength and direction of relationships, and will be able
to perform and analyze various regression models to
predict outcomes and elucidate the nature of variable.
11-12 Normal Textbook/ Beri, G. C. (2010). Business Statistics (3rd ed.). Tata
distribution in Material McGraw Hill Education Pvt. Ltd.
business JK Sharma(2008), Business Statistics, 2nd/e, Pearson
Education.
Pedagogy LBL, PBL, CBL.
CO 2
SLO Students will be proficient in calculating and
interpreting correlation coefficients to evaluate the
strength and direction of relationships, and will be able
to perform and analyze various regression models to
predict outcomes and elucidate the nature of variable.
13-14 Statistical Textbook/ Beri, G. C. (2010). Business Statistics (3rd ed.). Tata
inferences Material McGraw Hill Education Pvt. Ltd.
S C Gupta, Fundamentals of Statistics, 7/e, Himalaya
Sampling in Publishing House, India.
Business Pedagogy LBL, CBL, PBL, Quizzes and Assessments.
3
Vision: To be a global centre of excellence for management education and
research by creating and providing knowledge to the youth so that they
become global business leaders
Mission:
M1: To establish and maintain a network with highly qualified educators
and professional in the corporate and social sphere
M2: To create well-rounded individuals who can lead in a changing global
business environment
M3: To constantly reinvent academic methods and procedures in order to
satisfy the needs of a changing corporate environment and talent’s meaning
SEED-1.
CO 3
SLO Students will be proficient in calculating and
interpreting correlation coefficients to evaluate the
strength and direction of relationships, and will be able
to perform and analyze various regression models to
predict outcomes and elucidate the nature of variable
15-17 Random and Non- Textbook/ Beri, G. C. (2010). Business Statistics (3rd ed.). Tata
random methods- Material McGraw Hill Education Pvt. Ltd.
Sample size Pallant, J. (2016). SPSS Survival Manual (6th ed.). Tata
determination- McGraw Hill.
Sampling Pedagogy PBL, CBL, Simulation, GL
distribution,
Standard Error, CO 3
Central Limit
Theorem. SLO Students will learn to select and apply appropriate
Hypothesis sampling techniques, utilize the Central Limit Theorem
Testing basics for data analysis, and calculate confidence intervals for
informed decision-making. They will also develop and
test hypotheses with a focus on large sample tests for
means and proportions.
18-22 Textbook/ Beri, G. C. (2010). Business Statistics (3rd ed.). Tata
T-test,z-test Material McGraw Hill Education Pvt. Ltd.
ANOVA one way JK Sharma(2008), Business Statistics, 2nd/e, Pearson
and two-way Education
tests,chi-square
Using Excel Pedagogy LBL, PBL, CBL, Simulation, EL.
Software.
,SEED-2 CO 3
SLO Students able to conduct and interpret t-tests, Chi-
Square tests, and ANOVA to analyze data and draw
meaningful conclusions, understanding their business
implications, and develop practical skills in using Excel
to apply these statistical methods effectively.
23-26 Correlation Textbook/ Beri, G. C. (2010). Business Statistics (3rd ed.). Tata
analysis Material McGraw Hill Education Pvt. Ltd.
JK Sharma(2008), Business Statistics, 2nd/e, Pearson
4
Vision: To be a global centre of excellence for management education and
research by creating and providing knowledge to the youth so that they
become global business leaders
Mission:
M1: To establish and maintain a network with highly qualified educators
and professional in the corporate and social sphere
M2: To create well-rounded individuals who can lead in a changing global
business environment
M3: To constantly reinvent academic methods and procedures in order to
satisfy the needs of a changing corporate environment and talent’s meaning
Spearman’s Rank Education
correlation,
concept of Pedagogy LBL, PBL, CBL, Simulation, EL.
multiple and
partial CO 4
Correlation.
Analysis SLO Utilize Time Series Models and Apply semi-averages,
Regression moving averages, and least squares methods to analyze
Explanation with and forecast time series data
real life examples
Pratical;By excel
27-28 Components and Textbook/ Beri, G. C. (2010). Business Statistics (3rd ed.). Tata
Models of Time Material McGraw Hill Education Pvt. Ltd.
Series, Semi- S. C. Gupta & V. K. Kapoor, Fundamentals of
Averages, Moving Mathematical Statistics, Sultan Chand & Sons
Averages, Least
Square Methods Pedagogy LBL, PBL, CBL, Simulation, EL
CO 5
SLO Utilize Time Series Models and Apply semi-averages,
moving averages, and least squares methods to analyze
and forecast time series data
29-30 Methods of Textbook/ Beri, G. C. (2010). Business Statistics (3rd ed.). Tata
Seasonal Material McGraw Hill Education Pvt. Ltd.
Variations: Raito S. C. Gupta & V. K. Kapoor, Fundamentals of
to MA, Mathematical Statistics, Sultan Chand & Sons.
Applications of
Time series Pedagogy LBL, PBL, CBL, Simulation, EL
analysis.
CO 5
SLO Student will apply Time Series Concepts Practically
and Utilize time series analysis concepts to interpret
and act on real-time business data effectively.
Note:
● Pedagogy- Case-Based Learning(CBL); Experiential Learning(EL);Team Based
Learning(TBL);Active Learning(AL); Flipped Classroom(FC); Guest Speakers(GS);
Lecture Based Learning(LBL); Simulation Based Learning(SBL); Problem Based
Learning(PBL); Online Learning(OL); Others
● Case title and details to be mentioned
● Mention additional reading material for the sessions wherever applicable
● 20% of total sessions - Industry - Guest Speakers
5
Vision: To be a global centre of excellence for management education and
research by creating and providing knowledge to the youth so that they
become global business leaders
Mission:
M1: To establish and maintain a network with highly qualified educators
and professional in the corporate and social sphere
M2: To create well-rounded individuals who can lead in a changing global
business environment
M3: To constantly reinvent academic methods and procedures in order to
satisfy the needs of a changing corporate environment and talent’s meaning
● Modify the Session number as required.
II. Assessment Components & Schedule
Sr Components Weightage Schedule Overall CLO Brief Description of the Assignment/
No. with No. of of each Weighta Project
Assessments Assessment ge
(%)
1 Lab 10 10% 1-5 Evaluate statistical analyses by
performing and comparing data
analyses using SPSS and Excel, and
provide insights and
recommendations based on the
results.
2 Assignments- 5 5% 1-3,4-5 Complete assignments by analyzing
1,2 data through descriptive statistics,
hypothesis testing, regression, time
series, and nonparametric methods, and
comparing results using Excel.
3 SEED-1,2 10 10% 1,2,3 & Enhance student engagement and
(Survey and 4 course development by
Presentation) incorporating interactive lectures,
hands-on software sessions, real-
world case studies, collaborative
projects, and regular assessments to
apply statistical concepts and tools
effectively in management
scenarios.
4 Test-1 & 10 10% 1-2.5 Assess and evaluate the statistical
Test-2. 2.5-5 knowledge through tests.
5 Mid- 20 20% 1-2.5 Assess and evaluate the statistical
Semester knowledge through Mid-Semester
Examination examination.
6. Attendance 5 5% 1-5 Asses the regularity and
consistency of students for this
course.
7 End- 40 40% 1-5 Assess and evaluate the statistical
Semester knowledge through End-Semester
Examination examination.
Total 100 100%
III. References:
Textbook Required:
6
Vision: To be a global centre of excellence for management education and
research by creating and providing knowledge to the youth so that they
become global business leaders
Mission:
M1: To establish and maintain a network with highly qualified educators
and professional in the corporate and social sphere
M2: To create well-rounded individuals who can lead in a changing global
business environment
M3: To constantly reinvent academic methods and procedures in order to
satisfy the needs of a changing corporate environment and talent’s meaning
1. Beri, G. C. (2010). Business Statistics (3rd ed.). Tata McGraw Hill Education Pvt. Ltd.
2. Levin, R. I., Rubin, D. S., Siddiqui, M. H., & Rastogi, S. (2010). Statistics for Management (8th
ed.). Pearson Education India Pvt. Ltd.
3. Anderson, D. R., Sweeney, D. J., Williams, T. A., Camm, J. D., & Cochran, J. J. (2014). Statistics
for Business and Economics (14th ed.). Cengage Learning.
.
Other Reference:
1. S C Gupta, Fundamentals of Statistics, 7/e, Himalaya Publishing House, India.
2. JK Sharma(2008), Business Statistics, 2nd/e, Pearson Education.
3. S P Gupta & M.P. Gupta, Business Statistics, Sultan Chand & Sons.
4. S. C. Gupta & V. K. Kapoor, Fundamentals of Mathematical Statistics, Sultan Chand & Sons.
5. Terry Sincich, Business Statistics By Examples,5th /e, Prentice Hall International Editions.
6. Anderson, Sweeney and Williams (2007), Quantitative Methods for Business ,10th /e, Thomson.
7. Anand Sharma(2008), Quantitative Techniques for Decision Making, 5th/e, Himalaya Publishing
House.
8. U Dinesh Kumar (2021), Business Analytics-The Science of Data-Driven Decision Making,2/e
, Wiley.
9. J.D. Long & Paul Teetor, R Cookbook-Proven Recipes for Data Analysis, Statistics &
Graphics, 2/e, O’Reilly.
[Link] Sengupta(2017), Financial Analysis and Modeling using Excel & VBA,2nd /e,Wiley
India [Link].
Research Articles:
1. HBR-Case Study: Data -enabled insights from sericulture Jayalaxmi Agro Tech.
2. HBR-Case Study: Battling Dirty toilets: Singapore’s final Frontiers, SMU.
E-Resources:
Software: SPSS and Microsoft Excel.
Websites:
1. [Link]
2. [Link]
3. [Link] .
4. [Link]
Journals:
1. International Journal of Applied Mathematics and Statistics.
2. [Link]
3. Journal of the American Statistical Association.
Magazines:
1. [Link]
IV. Instructions: The following parameters would be considered for evaluation of Moodle test,
term paper presentation and end term examination
a. Conceptual Clarity
b. Ability to apply relevant concepts/frameworks
c. Analysis of data
d. Interpretation of results
e. Format and language
7
Vision: To be a global centre of excellence for management education and
research by creating and providing knowledge to the youth so that they
become global business leaders
Mission:
M1: To establish and maintain a network with highly qualified educators
and professional in the corporate and social sphere
M2: To create well-rounded individuals who can lead in a changing global
business environment
M3: To constantly reinvent academic methods and procedures in order to
satisfy the needs of a changing corporate environment and talent’s meaning
f. Information source, references, and bibliography
g. Originality & creativity
[Plagiarism will not be tolerated]