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STT206Sciences3 Unitsintermediate

Statistics For Management Sciences Ii

This course introduces basic concepts and principles of statistics for management sciences. It covers data collection, summarization, and presentation, including graphical methods. Students will learn measures of index number and dispersion, correlation, regression analysis, hypothesis tests, and time series analysis. The course also explores discrete and continuous random variables, providing a foundation for statistical decision-making in management contexts. The course aims to equip students with the skills to analyze and interpret statistical data effectively.

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120h
Study Time
13
Weeks
9h
Per Week
intermediate
Math Level
Course Keywords
StatisticsManagementData AnalysisRegressionHypothesis Testing

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
Hands-on Practice

Course Topics

Key areas covered in this course

1

Data Collection

2

Descriptive Statistics

3

Index Numbers

4

Correlation Analysis

5

Regression Analysis

6

Hypothesis Testing

7

Time Series Analysis

Total Topics7 topics

Requirements

Knowledge and skills recommended for success

Basic Mathematics

Introduction to Statistics

💡 Don't have all requirements? Don't worry! Many students successfully complete this course with basic preparation and dedication.

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

Data Analyst

Apply your skills in this growing field

Business Analyst

Apply your skills in this growing field

Market Research Analyst

Apply your skills in this growing field

Management Consultant

Apply your skills in this growing field

Statistician

Apply your skills in this growing field

Industry Applications

Real-world sectors where you can apply your knowledge

FinanceMarketingHealthcareManufacturingRetail

Study Schedule Beta

A structured 13-week journey through the course content

Week
1

Module 1: Role and Concepts of Statistics

6h

Unit 1: Role of Statistics (Application of Statistics)

3 study hours
  • •Understand the definitions of statistics
  • •Describe the uses of statistics
  • •Define the basic concepts in statistics.

Unit 2: Measurement of Variables

3 study hours
  • •Understand the meaning of variable and instances when it is applicable.
  • •Differentiate between quantitative and qualitative variables, discrete and continuous variables.
  • •Understand Nominal scale, Ordinal scale, Interest scale and Ratio scale
Week
2

Module 1: Role and Concepts of Statistics

8h

Unit 3: Measures of Dispersion, Skewness and Kurtosis

4 study hours
  • •Understand the measurement of dispersion and skewness
  • •Compute the mean, modal, and median sales for the sales reps.
  • •Compute the standard deviation and coefficient of variation of the sales distribution
  • •Compute the coefficient of skewness of the sales distribution

Unit 4: Decision Analysis and Administration

4 study hours
  • •Understand the rudiments and applications of Administrative and Decision Analysis.
  • •Solve problems using Decision Analysis.
  • •Give the justification for using an expected monetary value objective in decision problems.
  • •Understand Critical Examinations, Brain Storming or Group Creativity, Analogies, Morphological Approach or Attribute Listening and Heuristic Approach
Week
3

Module 2: INDEX NUMBER AND SAMPLING THEORIES

8h

Unit 1: Index Number

4 study hours
  • •Understand the concept of index numbers, its uses and methods of calculation.
  • •Calculate, use and interpret index numbers.
  • •Understand inflation, cost of living, trends of economic variables

Unit 2: Statistical Data

4 study hours
  • •Appreciate the purpose of statistical tests and data.
  • •Understand the determination of whether some hypotheses are extremely unlikely given observed data.
  • •Distinguish between primary and secondary data
  • •Understand cross-sectional and panel data
Week
4

Module 2: INDEX NUMBER AND SAMPLING THEORIES

8h

Unit 3: Sample and Sampling Theory

4 study hours
  • •Understand the art of sampling is a very valuable tool in collecting of data for planning and decision making.
  • •Explain three non-probability sampling methods
  • •Understand the advantages of telephone interview
  • •Understand personal interview method of data collection

Unit 4: Estimation Theory

4 study hours
  • •Understand the theory behind and the application of estimation in statistics.
  • •Apply estimation theory to solving day-to-day business and economic problems.
  • •Obtain first and second non-central moment and second central moment.
Week
5

Module 3: CORRELATION AND REGRESSION ANALYSIS

8h

Unit 1: Correlation Theory and Goodness of Fit

4 study hours
  • •Understand the theory behind and the application of correlation in statistics.
  • •Apply correlation theory to solving day-to-day business and economic problems.
  • •Explain with the use of diagram different types of correlation
  • •Differentiate between strong positive correlation and negative correlation.

Unit 2: Pearson's Correlation Co-efficient

4 study hours
  • •Describe the computation of linear correlation coefficients
  • •Apply the concept of correlations in business decisions.
  • •Determine the correlation between X and Y
Week
6

Module 3: CORRELATION AND REGRESSION ANALYSIS

8h

Unit 3: Spearman's Regression Analysis

4 study hours
  • •Explain the computation of rank correlation coefficients
  • •Apply the concept of correlations in business decisions.
  • •Use Spearman's rank correlation technique to evaluate the straight of relationship between the smokers.
  • •Determine the relationship between the 2 test.

Unit 4: Ordinary Lease Square Estimation (Regression)

4 study hours
  • •Understand the theory behind and the application of regression analysis in statistics.
  • •Apply regression analysis to solving day-to-day business and economic problems.
  • •Estimate the regression equation by using the scatter diagram
  • •Draw the scatter diagram and fit an exponential curve
Week
7

Module 3: CORRELATION AND REGRESSION ANALYSIS

4h

Unit 5: Multiple Regression Analysis

4 study hours
  • •Understand the theory behind and the application of multiple regression analysis in statistics.
  • •Apply multiple regression analysis to solving day-to-day business and economic problems.
  • •Calculate the coefficient of linear multiple regression
Week
8

Module 4: STATISTICAL TEST

8h

Unit 1: Hypothesis AND T-tests

4 study hours
  • •Understand Application of Hypothesis and t–distribution
  • •Understand Test for single mean
  • •Understand Assumptions for Student's test
  • •Understand t-Test for difference of means

Unit 2: F- Tests

4 study hours
  • •Understand Applications of the F-distribution
  • •Understand For testing equality of population variances
Week
9

Module 4: STATISTICAL TEST

4h

Unit 3: Chi-Square Distribution

4 study hours
  • •Understand Application of Chi-Square Distribution
  • •Understand Chi-squared test of goodness of fit
  • •Understand Steps for computing χ 2 and drawing conclusions
  • •Understand Chi-Square test for independence of attributes
Week
10

Module 4: STATISTICAL TEST

4h

Unit 4: ANOVA

4 study hours
  • •Understand Assumption for ANOVA test
  • •Understand The one-way classification
  • •Understand Bernoulli Distribution
Week
11

Module 4: STATISTICAL TEST

4h

Unit 5: Forecasting and Time Series Analysis

4 study hours
  • •Understand Steps in Forecasting
  • •Understand Types of Forecasts
  • •Understand Methods of Forecasting
  • •Understand Lease Squares or Trend Lines
  • •Understand Lease Square Method
Week
12

Module 1: Role and Concepts of Statistics

6h

Review of Module 1: Role and Concepts of Statistics

6 study hours
  • •Review all modules and units
  • •Work on assignments
  • •Prepare for TMAs
Week
13

Module 3: CORRELATION AND REGRESSION ANALYSIS

12h

Review of Module 2: INDEX NUMBER AND SAMPLING THEORIES

6 study hours
  • •Review all modules and units
  • •Work on assignments
  • •Prepare for TMAs

Review of Module 3: CORRELATION AND REGRESSION ANALYSIS

6 study hours
  • •Review all modules and units
  • •Work on assignments
  • •Prepare for TMAs

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

Review all TMAs and assignments thoroughly

2

Focus on understanding the application of statistical tests, not just the formulas

3

Practice solving problems from each unit, especially regression and hypothesis testing

4

Create summaries of key concepts and formulas for quick reference

5

Allocate time to review each module equally, with extra focus on areas of weakness

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