Management and Information Technology


IMMG 11033

Business Statistics

Status : Core Pre-requisite : G.C.E. (A/L) Co-requisite : None


On completion of this course, the student should be able to:

  • apply a variety of methods for exploring, summarizing and presenting data
  • apply statistical modelling and analysis techniques to a wide range of practical problems
  • evaluate statistical evidence; interpret the results of a statistical analysis
  • identify and use appropriate statistical software to solve selected statistical problems

 Descriptive statistics: Compilation, classification, tabulation and diagrammatic and graphical representation of various types of statistical data, skewness and kurtosis, frequency distributions, and measures of location and dispersion. Elements of Probability Theory: Set theory, concepts of probability, sample space, field of events and generalized addition theorem, conditional probability, independence, Bayes’ theorem, random variables, distribution theory, expectation, variance, normal, exponential, Binomial and Poisson Distributions. Sampling Distribution: Population parameters and statistics, type of samples, probability distribution of sample means, distribution of linear combination of random variables and the Central Limit Theorem. Regression Theory: Simple Linear Regression Model and Least Square Method of estimating the parameters. Index numbers, Time Series and Forecasting: Secular trend, linear trend and nonlinear trend.
 Lectures, interactive classroom sessions, case discussions, and applications of statistical software packages.
 End-of-semester examination, practical tests, group assignments, tutorials and in-class assessment.

  1. Robert D. Mason, Douglas A. Lind and William G. Marchal, “Statistical Techniques in Business and Economics”, 13th Edition, 2006, McGraw-Hill.
  2. James R. Evans, David Louis Olson, “Statistics, Data Analysis, and Decision Modelling”, 2002, Prentice Hall.
  3. Allen Webster, “Applied Statistics for Business & Economic” 3rd edition, 1997 McGraw Hill Higher Education.
  4. David R. Anderson, Dennis J. Sweeney and Thomas A. Williams, “Statistics for Business and Economics” 9th Edition, 2004, South-Western College Pub.