Business Statistics and Marketing Research

Includes application based learning with Simulations on Excel

Statistics: Data Collection Tools

Statistics Introduction

  • Importance in Management:
    •  Accounting and Finance, Data Analytics, Machine Learning & AI, Economics , HR, Marketing, International Business, Operations Management
    • Population/Census/Sample
    • Parameter vs. Statistic

Types of Data: Categorical & Numerical

Levels of Data Measurement: Nominal, Ordinal, Interval, Ratio

Common Statistical Graphs

  • Histogram, Frequency Distribution Tables, Bar Charts, Pie Chart
    • Stem and Leaf Plot, Scatter Plot, Pareto Principle & Pareto Charts
    • Box and Whisker Plots, Candle Stick Chart, Contingency Tables

Inferential v/s Descriptive Statistics

Distributions/Bell Curve

  • Uniform & Continuous, Normal Distribution(Bell Curve),
    • Skewness, Kurtosis ,
    • Central Limit Theorem
    • Modelling of Central Limit Theorem on Excel
    • The Standardized Normal; Empirical rules for   μ ± 1σ,  μ ± 2σ,  μ ± 3σ

Measure of Central Tendency and Dispersion

  • Mean, Median, Mode, Range, Mean Absolute Deviation
    • Variance, Standard Deviation, Z scores, Coefficient of Variation
    • Covariance, Correlation, Coefficient of Correlation

Hypothesis Testing:

  • Estimators and Estimates
    • Confidence Intervals, Level of significance
    • Null Hypothesis and Alternate Hypothesis
    • One sample test : Test for Means
      • Z test, Students t Test

ANOVA (Analysis of Variance)

  • F Test

Non-Parametric Tests

  • Chi-Square Test of Independence, Chi- Square Goodness-of-Fit Test

Practical Applications of Theoretical Learning: Demonstrations

  • Deceptiveness of Mean
  • Applications of Geometric Mean and Harmonic Mean
  • Measure of Financial Risk
  • Conclusions from Descriptive Statistics: Example from Real World
  • Application of Central Limit Theorem: Simulations of sampling car prices, Rolling a die
  • Confidence Interval: Simulation of Average Salary of Top 10 B-schools
  • Applications of T distribution
  • Hypothesis Testing: Average cost of a Hotel Room
  • Application Exercise on ANOVA
  • Chi Square Test of Independence: Are Education & Marital Status Related
  • Chi Square Goodness-of-fit tests: Evaluating whether a die is fair or Loaded(biased)

What you will get?

Access to all demonstration based Excel Files fully editable for Lifetime

All Resource files including z table and t table

Certificate of Completion.

Prerequisites

Uninterrupted Internet Connection with a smartphone/Laptop.

Who is it for?

Must attend Workshop for anyone wishing to do PGP/MBA in any domain or Specialization.

Understanding of some of the most important & difficult concepts in Management is almost a guarantee to a successful career.

Mode: Online