Business Statistics
QM 120
School of Business and Economics
BBA-H
Program
Semester
Credit Hours
Pre requisites (if any)
Resource Person
3
QM 110
Contact information
BRIEF COURSE DESCRIPTION:
Important decisions are rarely made by intuition alone. We need to use the data to develop our
insights and to support our analysis. Quantitative analysis includes the tools and techniques with
which we seek to replicate reality mathematically. Quantitative Techniques are applied in all the
functions of business like Operations, Marketing, HR, Finance etc.
The aim of this course is to learn when a technique is appropriate and what it can achieve. The
emphasis throughout the course is on concepts and reasoning rather than technical details. You
should acquire some basic data analysis skills but most importantly, become a more informed
and critical producer and user of business Statistical analyses.
Sr#
1.
Course Learning Objectives
Link with Program Learning
Objectives
To understand the basic concepts and principles To inculcate business knowledge and
used in Business Statistics.
analytical skills in graduates to think
decisively in order to develop
innovative solutions to problems in a
business environment
Organizing qualitative and quantitative data into a
frequency table, displaying the data through charts
and graphs, describing and exploring data through
different numerical measures.
2.
To inculcate business knowledge and
analytical skills in graduates to think
decisively in order to develop
innovative solutions to problems in a
business environment
To provide a progressive and
structured framework to graduates
that enables them in developing and
applying knowledge set of critical
and ethical evaluation
To know and understand probability and its To craft graduates’ expertise in order
different rules.
to increase their resourcefulness
To clearly identify and understand statistical To inculcate business knowledge and
concepts helpful for decision making, like analytical skills in graduates to think
estimation and hypothesis testing.
decisively in order to develop
innovative solutions to problems in a
business environment
3.
4.
To craft graduates’ expertise in order
to increase their resourcefulness
RECOMMENDED TEXT:
Business Statistics: By Groebner, Shannon, and Fry (8th Edition)
SUPPLEMENTARY TEXT:
 Statistical Techniques in Business and Economics (13th Edition): By Douglas A. Lind and
William G. Marchal

Essentials of Modern Business Statistics with Microsoft Excel: By Anderson and Sweeny
(3rd Edition)
WEB LINKS:
MOODLE.UMT.EDU.PK
CLASSROOM BEHAVIOR:
Positive and constructive class participation will be monitored for each class. Particular emphasis
will be given during the presentation sessions. The manner in which the question is asked or
answered will also be noted. Your behaviour, as business executive will contribute to the class
participation marks.
EMAIL ADDRESSES
Participants should establish their email accounts on the UMT email system, and use this address
for all communications during this course
MOODLE
Participants should regularly visit the course website on MOODLE Course Management system,
and fully benefit from its capabilities
USE OF MOBILE PHONES AND OTHER ELECTRONIC DEVICES
1. Use of mobile phones and similar devices is prohibited during the class
2. Your phone should not be heard or visible during the class
3. All mobile phones should be turned-off (or at least in the “silent” mode) and secured in
pockets or bags during the class time, and may not be used for ANY purpose, including
calculations, time-keeping, etc. In case you are anticipating an emergency call, you need to
discuss this matter with the resource person BEFORE the start of the class
ENTERING AND LEAVING THE CLASSROOM
You are requested to seek permission from the resource person while entering or leaving the
classroom during the session
USE OF UNFAIR MEANS
Participants are expected to do their own work in their assignments, quizzes and exams. They are
always encouraged to discuss with each other but the assignments, quizzes and exams should be
their own work reflecting their own effort and intellect. The School of Business & Economics is
VERY STRICT against any action of plagiarism, copying and cheating. So don’t put yourself in
any embarrassing position that may mar your career. In summary, any or all of these actions may
be taken against you in case of cheating.
1. Zero Point for the assignment/quiz/exam
2. Case would be sent to UMC Committee
PARTICIPANT RESPONSIBILITIES:
The learning process is based on independent work with texts, textbook, and cases supported by
lectures and assignments/cases.
You are supposed to have read the text chapters under discussion in advance. Questions
answered to these text chapters, will contribute to the class participation marks.
CLASS PARTICIPATION
1. You are required to attend the classes regularly and with punctuality.
2. You should come fully prepared in each class, and participate actively in class activities.
REQUIRED MATERIAL FOR QM-120
You are required to bring the following to every class:
1.
Textbook
2.
Calculator
3.
Ring file (for notes)
4.
Lead pencil (and accessories)
(OPTIONAL)
NOTE: Failure to bring any of the first three things or being absent or late in a class, may
result in a loss of marks in your class participation, and may adversely affect your final grade.
ASSESSMENT CRITERIA:
Mid-Term
Final exam
Class Participation
Project & Presentation
Quizzes
Assignments
Total
20%
35%
05%
10%
20%
10%
100%
Calendar of Activities
Sr.
#
Topics to be covered in
the course
Learning objective of this topic
Teaching
method
Assessment
criteria
Class Participation
What is Statistics?
Know the key data collection methods.
Know the difference between population &
sample and different sampling methods.
Lectures and real
life situations.
2.
Tabular and Graphical
Representation of Data
Students should be able to construct
frequency distribution both manually and
with computer. And also be able to
construct and interpret a frequency
histogram.
Class participation
Lectures + Videos + Assignments +
class tests
3.
Describing Data using
Numerical Measures
Compute the mean, median, mode and
weighted average for a set of data and
understand what these values represent.
Lectures
Class participation
+ Assignments +
class tests
Introduction to Probability
Understand the three approaches to assess
probabilities.
Lectures
Class participation
+ Assignments +
class tests
1.
4.
5.
Discrete Probability
Distribution
Be able to calculate and interpret the
expected value of discrete random variable.
And also be able to apply the binomial
distribution to business decision-making
situations.
6.
Continuous Probability
Distribution
Sampling Distribution
7.
Lectures
Class participation
+ Assignments +
class tests
Calculate values of random variable
associated with specified probabilities from a
normal distribution.
Lectures
Class participation
+ Assignments +
class tests
To learn how the manufacturing companies
can know in advance the increase in cost,
revenue and ultimately profit by taking help
from their marginal functions and can make
effective decisions.
Lectures
Class participation