NTITATIVE MGNT QUANTITATIVE APPLICATIONS IN MANAGEMENT Course Code: MIB 105Credit Units: 03 Course Objective: The objective of this course is to develop the understanding of the various statistical models, used for decisions making in the functions of the management of any organization with respect to International Business. To equip the students with tools and techniques for application of concepts to real life problems for efficient managerial decision making. Learning Outcomes:
At the end of the course students will be able to: Use statistical techniques to collect and analyse data Produce forecasts using statistical packages Apply quantitative techniques to business situations. Course Contents: Module I: Introduction Quantitative Decision Making – an overview, Collection , Classification & Presentation of Data, Measures of Central Tendency – Mean, Median, Mode, Geometric Mean & Harmonic Mean, Measures of Dispersion – Range, Quartile Deviation, Average Deviation & Standard Deviation.
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Module 2 : Probability , Probability Distributions & Decision theory Basic Concepts of Probability Discrete Probability Distribution Continuous Probability Distributions Decision Theory : introduction to decision making & decision environments Module 3 Sampling , Sampling Distributions & Testing of Hypothesis Sampling Fundamentals Different Methods of sampling Sampling Distributions Testing of Hypotheses: Hypothesis testing for means & proportions
Module 4 Forecasting Techniques & Time Series Analysis Business Forecasting Correlation Regression analysis & its Applications for managers Various components of time series & their analysis Use of statistical packages such as MS Excel /SPSS for forecasting & analysis Module 5: Linear Programming Introduction of Operations Research, Scope and Models in Operations Research, Introduction of Linear Programming, Formulation of LPP & its applications to managers. Learning Methods:
A series of lectures will impart information and be complemented by interactive tutor-led and student-led discussion. Teaching consists of 3 hours per week. The unit has thus been designed to use a variety of teaching methods that should help students to quantitatively study the various aspects of international business environment. Formative tasks and presentations will enable students to build towards the completion of their assignment during the delivery of the unit. Examination Scheme: Components |C1 |V |A |CT |EE | |Weightage (%) |10 |5 |5 |10 |70 | Text & References: Text: • Rao AB, 2004, Quantitative Techniques in Business, Jaico Publishing House, Ist Edition References: • Arora P. N. , Arora Sumeet, Arora S. , 2008, Comperihensive Statistical Methods, 2nd Edition, S. Chand • Edward E. Qian, Ronald H. Hua, And Eric H.
Sorensen, Quantitative Equity Portfolio Management: Modern Techniques and Applications Chapman & Hall/Crc Financial Mathematics Series, 2007 • Levin R. I. & Rubin S. R. 2002, Statistics for Management, 9th Ed. Prentice Hall of India • Gupta S P & Gupta M P, 2000, Business Statistics, 12th Ed. Sultan Chand & Sons • Sharma J K, 1997, Operations Research: Theory & Application, Mac Millan India. Ltd. • Hooda, R P,(2003),Statistics for business and economics,3rd,Macmillan Publication, New Delhi • Richard C. Grinold And Ronald N. Kahn, Active Portfolio Management: Quantitative Theory and Applications, 1995