Introduction to Statistics

Course Outline

This course is aimed at imparting basic knowledge of Statistics to business students. The course will introduce some basic statistical methods which are helpful for decision making in business and economics. The course will start from simple descriptive measures and will goes to prediction technique like regression analysis.

Learning Objectives

After completing this module the students will be enable to:

  • Differentiate between various types of data encountered in business and management

  • Present available data in most appropriate form in accordance with objectives of the study

  • Use common descriptive statistical measures for simple decision making

  • Understand use of simple probability and random variables in business decision making

  • Understand the use of well known probability distributions

  • Use statistical methods for efficient prediction

  • Understand the methods to forecast

Course Contents

Week 1

  • Introduction to Statistics

  • Data and its types

  • Data Presentation Methods

  • Grouped and Ungrouped Data

Week 2

  • Measures of Central Tendency (Mean, Median, Mode and Percentiles)

Week 3

  • Measures of Dispersion

  • Introduction to Probability and Counting Rules

Week 4

  • Events and their types

  • Addition rule of probability and its application

Week 5

  • Dependent and independent events

  • Conditional Probability and its application

Week 6

Week 7

  • Random variables and their type
  • Probability distribution of discrete and continuous random variable
  • Distribution function of discrete random variable

Week 8

  • Continuous random variable and its probability distribution
  • Distribution Function of Continuous random variable and its application

Week 9

  • Mean and Variance of random variables

  • Median and Percentiles of random variables

Week 10

  • The Binomial Distribution and its application

  • The Poisson Distribution and its Application

Week 11

  • Sessional-II exam
  • The Normal Distribution and its applications

Week 12

  • Percentiles of Normal Distribution and their use in business

  • The Correlation Coefficient and its use

Week 13

  • Simple Linear Regression

  • Application of Simple Linear Regression in business predications

Week 14

  • The Time Series and its use in business

  • Components of Time Series and their estimation

  • Forecasting using Time Series

Week 15

  • Index numbers and their use in business

  • Various Index number types and their computations

Week 16

  • Use of SPSS for Statistical Analysis


Assignment 1

Assignment 2

Assignment 3

Assignment 4

Case Studies

Employee Database

Customer Database

breasks Database

Credit Cards

Bank Loan



Quiz 1

[Quiz 2]