Quantitative Techniques In Business

Course Code: BBA104

Course Title: Quantitative Techniques in Business (2 Credits)



Course Contents


Unit 1: Introduction to Statistics: Introduction; Statistics and Statistical Methods; Characteristics of Statistics; Functions of Statistics; Limitations of Statistics; Statistics in Business and Management; Distrust of Statistics.


Unit 2: Collection, Classification, and Presentation of Data: Introduction; Data Collection; Data Classification and Data Gathering; Drafting Questionnaire; Sample Selection; Data Presentation.


Unit 3: Measure of Central Tendency: Introduction; Measures of Central Tendency.


Unit 4: Measures of Dispersion: Introduction;, Measures of dispersion; Objectives of measuring dispersion; Characteristics of a measure of dispersion; Range, Quartile deviation, Average deviation, Standard deviation, Relation between standard deviation and other measures, Relative measures of dispersion, Lorenz Curve.


Unit 5: Simple Correlation and Regression: Introduction; Correlation Analysis; Regression Analysis.


Unit 6: Time Series Analysis: Introduction; Meaning of Time Series; Applications of Time Series; Variations in Time Series; Measurement of trend or secular trend; Measurement of seasonal variations. 


Unit 7: Index Numbers: Introduction; Meaning of index number; Types of index number; Uses of Index Numbers; Methods of constructing Index Numbers; Test For Adequacy of Index Number Formulae; Consumer Price Index Number- Assumptions of cost of living index number;  Methods of constructing Consumer Price Index, Limitations of Index Numbers.


Unit 8: Sampling Techniques: Introduction to Sampling Techniques; Need for Sampling; Basic Concepts; Efficiency of Sampling Methods; Alternative Sampling Methods


Unit 9: Statistical Quality Control: Introduction; Sources of Variations; Statistical Process Control Methods; Control Charts; Acceptance Sampling; Advantages of Statistical Quality Control