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Business Statistics MFM I Semester
I.Chakrapani Asst. Professor – FMS NIFT, Hyderabad

Course Objectives
To understand the fundamentals of statistics and its application in the field of fashion industry To familiarise the students with SPSS for data feeding, processing, analysis and interpretation Analyse data quantitatively to interpret an existing situation/problem with the help of SPSS

Course Contents
Session 1 Introduction to statistics – What & Why Scope of statistics and its applications in marketing & managerial decision making Collection, classification and presentation of data

Course Contents Session 2 Measures of central tendency & Dispersion Mean, Median, Mode Range, Mean deviation & standard deviation

Course Contents Session 3 Probability Distributions Normal distribution Sampling distribution Session 4 Chi - Square Chi - Square as a test of independence

Course Contents
Session 5 Estimation, Confidence intervals Testing of hypothesis for simple mean proportions (large and small samples) Difference between means and proportions Z test T test

Course Contents Session 6 Correlation Scatter diagram Karl Pearson’s coefficient of correlation Spearman’s rank Correlation coefficient

Course contents
Session 7 Linear Regression analysis & Forecasting Simple bivariate regression analysis (y = a +bx types) Time series analysis Moving averages Methods of least square

Course contents
Session 9 – Data Coding & analysis using SPSS – Coding, Variable Format, Value Labels Session 10 – Simple Tabulation & Cross Tabulation Using SPSS – Univariate & Bivariate analysis, Simple & Cross tabulations

Course contents

Session 11 – Hypothesis Testing: Chi Square using SPSS Session 12 – Hypothesis Testing: t –Test & F – Test using SPSS

Course contents Session 13 – Hypothesis Testing: Correlation & Regression Using SPSS Session 14 – Factor Analysis using SPSS Session 15 – Presentation of Assignment #2

References
Statistics for Management by Richard I Levin & David S Rubin,Pearson Publication 7th Edition Marketing Research Text and Cases by Rajendra Nargundkar, Tata McGraw Hill Publication SPSS for Windows Step by Step – A simple guide and reference by Darren George & Paul Mallery, Pearson Education publication

Other References
Statistical Methods by SP Gupta Fundamental of Statistics by SC Gupta Business Statistics by Gupta & Gupta Business Statistics by J.S. Chandan, Prof. Jagjit Singh &K. K. Khanna Business Statistics by Bhatia & Gupta Research Methods in Business by R. Nandagopal, K. Arul Rajan and N. Vivek Excel books publications

Session 1
Introduction to statistics – What & Why Scope of statistics and its applications in marketing & managerial decision making Collection, classification and presentation of data

Introduction to Statistics – What & Why
Numbers play an essential role in statistics Numbers (raw material) must be processed to be useful, just as crude oil must be refined into petrol before it can be used by an automobile engine. The study of statistics involves methods of refining numerical (and non-numerical) information into useful forms

Introduction to Statistics – What & Why
Whenever numbers are collected and compiled, regardless what they represent, they become statistics The term statistics is considered synonymous with ways and means of presenting and handling data, making inferences logically and drawing relevant conclusions Statistical methods in general are nothing but a refinement of everyday thinking

Introduction to Statistics – What & Why
The word ‘statistics’ comes from the Italian word ‘staista’( meaning “statesman”) or the German word ‘statistic’ each of which means a political state First used by Professor Gottfried Anchenwall (17191772) a professor in Marlborough in 1749 to refer to the subject matter as a whole Mentioned first time in the famous book “Elements of universal Erudition” by Baran J.F. Von Bielfled

Introduction to...
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