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SMS202Management Sciences3 Unitsintermediate

Business Statistics Ii

This course introduces the basic concepts and principles of statistics in a business context. It covers data collection methods, summarizing data, graphical presentations, and measures of index numbers and dispersion. Students will learn correlation and regression analysis, hypothesis testing, and time series analysis. The course also explores distributions of discrete and continuous random variables, providing a foundation for informed decision-making in business environments.

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156h
Study Time
13
Weeks
12h
Per Week
intermediate
Math Level
Course Keywords
Business StatisticsData AnalysisRegressionHypothesis TestingTime Series

Course Overview

Everything you need to know about this course

Course Difficulty

Intermediate Level
Builds on foundational knowledge
65%
intermediate
📊
Math Level
Moderate Math
📖
Learning Type
Theoretical Focus

Course Topics

Key areas covered in this course

1

Descriptive Statistics

2

Index Numbers

3

Sampling Theory

4

Correlation Analysis

5

Regression Analysis

6

Hypothesis Testing

7

Time Series Analysis

Total Topics7 topics

Ready to Start

No specific requirements needed

This course is designed to be accessible to all students. You can start immediately without any prior knowledge or specific preparation.

Assessment Methods

How your progress will be evaluated (3 methods)

assignments

Comprehensive evaluation of course material understanding

Written Assessment

tutor-marked assessments

Comprehensive evaluation of course material understanding

Written Assessment

final examination

Comprehensive evaluation of course material understanding

Computer Based Test

Career Opportunities

Explore the career paths this course opens up for you

Business Analyst

Apply your skills in this growing field

Market Researcher

Apply your skills in this growing field

Financial Analyst

Apply your skills in this growing field

Data Analyst

Apply your skills in this growing field

Management Consultant

Apply your skills in this growing field

Industry Applications

Real-world sectors where you can apply your knowledge

FinanceMarketingEconomicsManagementHealthcare

Study Schedule Beta

A structured 13-week journey through the course content

Week
1

Module 1: Role and Concepts of Statistics

4h

Unit 1: Role of Statistics (Application of Statistics)

4 study hours
  • •Understand the definitions of statistics and its role as a management tool.
  • •Identify and differentiate between numerical and non-numerical data.
  • •Explore the applications of statistics in various fields like government and business.
Week
2

Module 1: Role and Concepts of Statistics

4h

Unit 2: Measurement of Variables

4 study hours
  • •Define variables and differentiate between quantitative and qualitative variables.
  • •Learn about discrete and continuous variables.
  • •Understand the four measurement scales: nominal, ordinal, interval, and ratio.
Week
3

Module 1: Role and Concepts of Statistics

6h

Unit 3: Measures of Dispersion, Skewness and Kurtosis

6 study hours
  • •Compute the range, quartile deviation, mean deviation, variance, and standard deviation for a given dataset.
  • •Understand the concept of coefficient of variation.
  • •Learn about Pearson's coefficients of skewness and kurtosis.
Week
4

Module 1: Role and Concepts of Statistics

5h

Unit 4: Decision Analysis and Administration

5 study hours
  • •Understand the administrative and decision-making process.
  • •Differentiate between analytical and creative thinking.
  • •Explore methods like critical examinations, brainstorming, analogies, and morphological approach.
Week
5

Module 2: INDEX NUMBER AND SAMPLING THEORIES

4h

Unit 1: Index Number

4 study hours
  • •Understand the uses of index numbers in measuring economic trends and deflation.
  • •Differentiate between price, quantity, and value index numbers.
  • •Learn about the problems encountered in constructing index numbers.
Week
6

Module 2: INDEX NUMBER AND SAMPLING THEORIES

4h

Unit 2: Statistical Data

4 study hours
  • •Distinguish between primary and secondary data.
  • •Understand the advantages and disadvantages of each data type.
  • •Learn about cross-sectional, time-series, and panel data.
Week
7

Module 2: INDEX NUMBER AND SAMPLING THEORIES

5h

Unit 3: Sample and Sampling Theory

5 study hours
  • •Define population, sample, and sampling unit.
  • •Differentiate between probability and non-probability sampling.
  • •Explore different sampling designs like simple random, systematic, stratified, and cluster sampling.
Week
8

Module 2: INDEX NUMBER AND SAMPLING THEORIES

4h

Unit 4: Estimation Theory

4 study hours
  • •Understand the methods of point estimation.
  • •Learn about the method of maximum likelihood.
  • •Apply estimation theory to solve business and economic problems.
Week
9

Module 3: CORRELATION AND REGRESSION ANALYSIS

4h

Unit 1: Correlation Theory and Goodness of Fit

4 study hours
  • •Understand the concept of correlation and its types: perfect positive, perfect negative, strong positive, strong negative.
  • •Interpret scatter plots to determine the strength and direction of correlation.
Week
10

Module 3: CORRELATION AND REGRESSION ANALYSIS

5h

Unit 2: Pearson's Correlation Co-efficient

5 study hours
  • •Compute Pearson's correlation coefficient.
  • •Interpret the value of the correlation coefficient to determine the strength and direction of the relationship between two variables.
  • •Apply the concept of correlations in business decisions.
Week
11

Module 3: CORRELATION AND REGRESSION ANALYSIS

5h

Unit 3: Spearman's Regression Analysis

5 study hours
  • •Explain the computation of rank correlation coefficients.
  • •Apply Spearman's rank correlation technique to evaluate the strength of the relationship between two sets of ranked data.
  • •Understand the concept of tied ranks and their adjustment in the formula.
Week
12

Module 3: CORRELATION AND REGRESSION ANALYSIS

5h

Unit 4: Ordinary Lease Square Estimation (Regression)

5 study hours
  • •Understand the concept of regression analysis and its uses for prediction and description.
  • •Learn about simple and multiple regression.
  • •Apply the least squares method to determine the regression line.
Week
13

Module 3: CORRELATION AND REGRESSION ANALYSIS

5h

Unit 5: Multiple Regression Analysis

5 study hours
  • •Understand the concept of multiple regression analysis.
  • •Learn how to solve multiple regression equations.
  • •Apply multiple regression analysis to solve business and economic problems.

This study schedule is in beta and may not be accurate. Please use it as a guide and consult the course outline for the most accurate information.

Course PDF Material

Read the complete course material as provided by NOUN.

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Study Tips & Exam Preparation

Expert tips to help you succeed in this course

1

Create flashcards for statistical formulas and definitions from Units 2-4.

2

Practice regression analysis problems from Units 10-13 weekly.

3

Review hypothesis testing steps from Units 14-16 and apply to sample datasets.

4

Focus on interpreting statistical results in context, not just calculations.

5

Allocate equal time to each module during the final week of study.

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