Statistics for Business Decisions

Correlation Analysis: Meaning and significance. Correlation and Causation, Types of correlation. Methods of studying simple correlation - Scatter diagram, Karl Pearson’s coefficient of correlation, Spearman’s Rank correlation coefficient, Concurrent correlation.
Regression Analysis: Meaning and significance, Regression vs. Correlation. Linear Regression, Regression lines (X on Y, Y on X)

Probability: Meaning and need. Theorems of addition and multiplication. Conditional probability. Bayes’ theorem.
Probability Distribution: Meaning, characteristics (Expectation and variance) of Binomial, Poisson, and Normal distribution.

Sampling Theory- Parameter and Statistic, Sampling Distribution of a Statistic and Standard Error of a Statistic
Test of Hypothesis- Element and Procedure of Testing a Statistical Hypothesis, Types of Errors. Level of Significance
Test of Significance (Large Sample)- Sample Mean, Difference between two Sample Means, Difference between two Standard Deviations, Sample Proportion and Difference between two Sample Proportions.

Test of Significance (Small Sample): Application of Student’s t- test for Mean, Difference Between two Means ( Independent and Paired t-test for Difference of Means).
Chi-square test: Definition and Nature, Uses of Chi-Square Test- Test of Goodness of Fit, Test of Independence of Attributes and Test for the Population Variance.
Analysis of Variance: One-way and two-way classification.

Research report writing: Format of research report, presentation, footnote- endnote, bibliography, references.