Business Statistics syllabus

Business Statistics

• 1 Describing Data using Graphs and Tables (4 LHs)

  • Statistics in business and management
  • Frequency distributions and stem-and-leaf plots
  • Bar diagrams and pie charts
  • Histograms, ogives and Excel exercises
• 2 Describing Data Using Numerical Measures (9 LHs)

  • Mean, median, mode, quartiles, deciles and percentiles
  • Range, interquartile range, quartile deviation and standard deviation
  • Variance and coefficient of variation
  • Pearson and Bowley skewness; percentile kurtosis
  • Five-number summary, box plots and Excel exercises
• 3 Simple Linear Correlation Analysis (5 LHs)

  • Scatter plots and Pearson correlation
  • Bivariate frequencies and coefficient of determination
  • Significance using probable error
  • Spearman rank correlation and Excel exercises
• 4 Simple Linear Regression Analysis (4 LHs)

  • Linear regression model and assumptions
  • Least-squares line and coefficient interpretation
  • Bivariate frequencies and Excel exercises
• 5 Probability (4 LHs)

  • Sample spaces and events
  • Probability laws and conditional probability
  • Excel exercises
• 6 Probability Distributions (6 LHs)

  • Binomial and Poisson distributions
  • Normal distribution
  • Excel exercises
• 7 Sampling Theory (3 LHs)

  • Populations, samples and sampling techniques
  • Sampling and non-sampling errors
  • Standard error and central limit theorem
• 8 Estimation (6 LHs)

  • Consistency, unbiasedness, efficiency and sufficiency
  • Point and interval estimates; confidence levels
  • Confidence intervals and sample sizes for means/proportions
  • Excel exercises
• 9 Introduction to Hypothesis Testing (7 LHs)

  • Testing steps, significance levels and critical regions
  • One- and two-tailed tests; critical-value and p-value approaches
  • Large-sample Z-tests for means and proportions
  • Excel exercises