...Lesson 2: Review of basic concepts of probability theory Coverage: Basic probability rules Random variables and associate concepts Normal distributions Reading: Chapter 2 (1-7), Chapter 3 (1-5, 10-11) and Chapter 4 (1-8) (1 8) Homework: Replicate and complete all the classroom exercises. Print answers of 2.1 (b-c-d), 2.3 (b-c-d) and 2.4(b-c-d) in one (1) page. 1 Business Statistics Lesson 2 - Page 2 Objectives At the end of the lesson, you should be able to: Define and apply the basic probability rules Describe the basic concepts related to random variables D ib th b i t l t dt d i bl Describe and use the properties of means and variances Recognize and understand the most commonly used probability distributions Use the basic data manipulation and descriptive statistical features of SPSS and transfer between SPSS and Excel SPSS, 1 Business Statistics • • • • Review of probability concepts Lesson 2 - Page 3 Probability: is defined on random events (occurrences), takes values between 0 and 1, and can be interpreted as limit of relative frequency (objective probability) Note: In everyday usage, probability might mean the extent of our belief in the occurrence of the event (subjective probability). However, statistics mostly deals with objective interpretation based on relative frequency. j p q y Basic probability rules: P( Sure event) = 1 and P( Impossible event) = 0 P(A or B) = P(A) + P(B) – P(A and B) Consequences: P( not A) = 1 - P(A)...
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...Syllabus-MBA (Hospital Administration) PAPER – I: BASIC CONCEPT OF HEALTH -Code MHA 101 Concept of Health and Disease • Concept of health & disease and well being. • Natural history of disease and role of hospitals to offer various levels of care • Prevention aspect of diseases • Dynamics of disease transmission • Changing pattern of diseases • Concept of health indicators Preliminary Human anatomy and Physiology • Basic concepts of human anatomy • Basic concepts of human physiology Suggested Reading: Human Anatomy- Prof. Samar Mitra Human Anatomy- Prof. A. K. Dutta Text Book of Human Physiology- Dr. C. C. Chatterjee Common Pathological Conditions • Basic concepts of pathogenesis of common diseases • Basic concepts of interpretation of investigations reports Suggested Reading: Robbin’s Textbook of Pathology – Robbin, Cotran, Kumar Textbook of Microbiology – Ananantanarayan & Paniker Basic concepts of Pharmacology: Commonly used Medicine in a hospital, Narcotic drugs, use and abuse of drugs. Dispensing of medicine, Drugs store, drug stock / purchase of medicine, oxygen, I/V Fluid, Chemicals etc. Suggested Reading: Textbook of Pharmacology: Dr. K. D. Tripathi PAPER – 2: Hospital Based Healthcare & Its changing scenario-Code MHA 102 Overview of Hospital • Concept of Modern Hospital & Privatization in Health Sector • Public Sector Hospitals and Level of care / offered facilities ...
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...S. Asif Masroor Mobile No. 050.2582151, Email: arjfa@hotmail.com Objective Deciding what teaching method to use, considering students' background knowledge, environment, and their learning goals as well as standardized curricula as determined by the relevant authority Summery Having considerable imparting knowledge experience to IGCSE, GCSE, GCE, IB Olevels, A-Levels, BBA and MBA students for Maths and Stats. Academic Developments Master of Science (MSc) Statistics {12 months Full Time Study} From: Federal University of Karachi. Majors: Quality Control, Econometrics, Time Series Analyses……….. Bachelor of Science {36 months full time study} From: Federal University of Karachi. Subjects: Mathematics, Statistics, Economics ………….. Intermediate in Science (Pre Engineering) {24 months full time study} From: PAK Air Force Intermediate College. Subjects: Mathematics, Physics, Chemistry ………….. Matriculation From: Zeal Public School. Subjects: Mathematics ………….. 2007 2006 2002 2000 Personal Information Father’s Name Passport # Driving License Syed Masroor Ali AA0828051 Not Available Nationality Religion Marital Status Pakistani Muslim Single Research Work Statistical Research Report 1) Causes of Heart Disease 2) Effect of Political Organization on Education Critical Report 1) Report on the Analysis of Budget 2003 2) Report on the Analysis of Budget 2004 IT Specialties Easily perform every task on internet and email notes. Expert Microsoft office package...
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... |Credit | |1. |Business Statistics |3 | |2. |Operations & Optimization Research |3 | |3. |Economics for Managerial Decision Making – II |2 | |4. |Management Information System & KM |2 | |5. |Human Resource Management |2 | |6. |Financial Management |2 | |7. |Executive Communication |6 | |8. |National Economic Planning – I (Presentation Only) |2 | |9. |National Economic Planning - II |2 | BUSINESS STATISTICS (As per University Syllabus) UNIT 1. BUSINESS STATISTICS - WHAT AND WHY? INTRODUCTION • Definition of statistics • Five stages of statistical investigation - Collection...
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...minutes per week | Contin uous Assess ment | Semeste r End Examina tion | Total Marks | Duration of Theory Paper | No of Credits | 1 | Perspective Management | 30 | 2 | 40 IA | 60 IA | 100 | 3 | 2.5 | 2 | Business Communicati on and Management Information Systems | 30 | 2 | 40 IA | 60 IA | 100 | 3 | 2.5 | 3 | Organisation al Behaviour | 30 | 2 | 40 IA | 60 IA | 100 | 3 | 2.5 | 4 | Financial Accounting | 30 | 2 | 40 IA | 60 IA | 100 | 3 | 2.5 | 5 | Operations Management | 30 | 2 | 40 IA | 60 IA | 100 | 3 | 2.5 | 6 | Marketing Management | 30 | 2 | 40 IA | 60 IA | 100 | 3 | 2.5 | 7 | Managerial Economics | 30 | 2 | 40 IA | 60 IA | 100 | 3 | 2.5 | 8 | Business Statistics | 30 | 2 | 40 IA | 60 IA | 100 | 3 | 2.5 | | | | Total No of Credits | | | 20 | UA: - University Assessment; IA: - Internal Assessment MMS SEMESTER – I (All Specialisations) Perspective Management (15 Sessions of 3 Hours Each) Sem I S. No. | Particulars | Sessions | 1 | * Management : Science, Theory and Practice - The Evolution of Management * Thought and the Patterns of Management Analysis - Management and Society : * Social Responsibility and Ethics - Global and Comparative Management - The * Basis of Global Management – Functions of Management-The Nature and Purpose * of Planning - Objectives - Strategies...
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...Research, Statistics, and Psychology There are different forms involved in the study of psychology. Whether in the field of psychology or any academic field, research is necessary to further society from what it is now into what it will become in the future. Research means expanding current knowledge without progressing, stagnation occurs. Research and statistics are unique tools in psychology because the information is part of the methodology of psychology. In the field of psychology, research is what makes it possible to better understand human behavior and gives the knowledge needed to help others. Research and statistics are tracking methods that must stay accurate. Research must be conducted with precision and accountability it is of utter importance, both ethically and morally or it can lead to disastrous results. The methods of primary, secondary data and the branches of statistical methods are key factors used in research. Research is an attempt to find information in a scientific manner (Word Net,2011). By using the scientific methods the results from the research are valid, reliable, and accurate. The scientific method is a process where secondary data is compiled, analyzed, hypothesized, and tested. Using this method decreases human error and subjective thinking from having a influence on the results and interpretations (Pervez & Gronhaug, 2005). While nothing is without fault by using the scientific method of hypothesizing and testing the hypothesis decreases the...
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...Introduction to Statistics QTM403 Basic Information Program | BBA 3 (Hons.) | Semester | Fall 2015 | Credit Hours | 3 | Pre requisites (if any) | Mathematics | Resource Person | Iftikhar Hussain | Contact information | ihgrw85@gmail.com | 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 and statistically. Statistical 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. Learning Objectives: Ser. # | Course Learning Objectives | Link with Program Learning Objectives | 1 | To understand the basic concepts and principles used in Business Statistics. | To inculcate business knowledge and analytical skills in graduates to think decisively in order to develop innovative solutions to problems in a business environment. | 2 | Organizing qualitative and quantitative data into a frequency table, displaying the data through charts...
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...2011-12 MBA I Semester I Accounting for Managers (AFM) 1. Course Objective: The objective of the course is to acquaint the students with the language of Accounting and to develop in them the ability to evaluate and use accounting data as an aid to decision making. The main purpose is to assist the students in developing skills in problem solving and decision making in the financial area. Emphasis is laid on analysis and utilization of financial and accounting data for planning and control. 2. Course Duration: The course duration is of 36 sessions of 75 minutes each i.e. 45 hours. 3. Course Contents: Module No: Module Content No. of Sessions 70 Marks (External Evaluation) 17 I II Fundamentals of Accounting Basic understanding of accounting, Accounting Concepts, Conceptual framework of financial statements, Accounting Policies, Journal Entries and preparation of accounts - Trial Balance to Balance sheet and profit and loss Account, Recognition of Income and Expenses, Provisions, Contingent Liabilities Accounting Standards and Applicability: Disclosure of Accounting Policies (AS-1), Valuation of Inventories (AS-2), Depreciation Accounting (AS-6), Income Recognition & Accrual Income (AS-9), Accounting of Fixed Assets (AS-10), Accounting for Intangible Assets (AS-26), Accounting for Investments (AS-13), 7 7 17 III IV V Preparing and Understanding Financial Statements : Corporate Balance sheet, Profit and Loss Account Funds Flow Analysis, Financial Statement Analysis...
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...Institute of Management Sciences Peshawar Bachelors in Business Studies Course Plan Course Title: Statistics for Business Instructor: Shahid Ali Contact Email shahid.ali@imsciences.edu.pk Semester/Duration: 16 Weeks Course objectives : To introduce students to the concepts of statistics and to equip them with analytical tools to be used in business decision making. The course is intended to polish the numeric ability of the students to identify business problems, describe them numerically and to provide intelligible solutions by data collection and inferential principles. Course pre-requisites Intermediate statistics Attendance Policy: Late arrivals are highly discouraged. Any student coming late to a class late by 5 minutes after the scheduled start time will be marked as absent for the day. The teacher reserves discretion, however, to allow or disallow any student, to sit in the class in case of late arrivals. Attendance is not be entertained once the attendance register is closed. Class Project Students will be divided in groups for a class project. Each group will have to nominate a group leader. The details of the project will be made available to the group leader. Class Presentations Each student will have to make at least one individual presentation and one group presentation in the class. The group presentation will be on the project explained earlier. The individual presentations will...
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...main objective of this course is to provide wide application f the statistical tools in business management. It is also aims at to impart in-depth and rigorous knowledge to the business students to inculcate academic excellence in various fields of research and development, with special reference to business management. In addition it will provide necessary statistical knowledge and wide rage of ways to analyze data, which will improve the students statistical analytical and decision making skills. Session Lecture Outline Learning Objectives 01 Basic Probability and Discrete Probability Distributions Simple Probability To develop an understanding of basic probability concepts To introduce conditional probability To use Bayes’ Theorem to revise probabilities in light of new information To provide an understanding of the basic concepts of discrete probability distributions and their characteristics To develop the concept of mathematical expectation for a discrete random variable To introduce the covariance and illustrate its application in finance To present applications of the binomial distribution in business To present applications of the Poisson distribution in business 02 Counting Techniques 03 Continued 04 Conditional Probability 05 Discrete probability distribution. 06 Mathematical Expectation of Discrete Random Variable 07 Properties of mean and variance of a discrete random Variable. 08 Binomial Distribution. 09 Poisson...
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...Statistics in the Workplace Statistics are used in my workplace for many reasons. My primary function is to maximize the capabilities of the military treatment facility at the same time ensuring patients receive quality health care in a timely fashion whether it is direct or purchased care. All requests for purchased care are first reviewed for medical necessity and are then re-directed within the military treatment facility for right of first refusal. If the military treatment facility does not have the capability, the requests are forwarded to the managed care service contractor. We also monitor referral patterns, and identify trends relating to network leakage, network care recapture, continuity of care, and customer satisfaction. I work with a team of nurses who don’t work under a clinical directorate. We work under the business directorate. I help to decrease the government’s spending at my facility in particular, on healthcare costs and help to generate revenue in our facility. When purchased care costs are down, our revenue is up. If we see an opportunity to generate revenue in other ways we approach the directorate of business operations to see if we can implement a new plan. Descriptive Statistics According to "Basic Statistical Concepts for Nurses" (2011), “Descriptive statistics are techniques which help the investigator to organize, summarize and describe measures of a sample. Here no predictions or inferences are made regarding population...
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...BADB2013 BUSINESS STATISTICS Semester : September2014 Course Leader : Zainora Hayat Hudi @ Jahit Office Location : Faculty of Business and Information Technology Level 12, Tierra Crest, Jalan SS6/3 Kelana Jaya, 47301 Petaling Jaya, Selangor Telephone : 603-76277388 E-mail : zainora@unitar.my Consultation Hours : Wednesday 2.30pm – 4.30pm, Thursday 2.30pm-4.30pm OR by appointment Course Synopsis Business Statistics is the science of collecting, organizing, and summarizing data to provide information, stated in numerical form, for the purpose of making objective business decisions. Descriptive statistics will be the focus of the course with an abbreviated introduction to inferentialstatistics. Topics include the foundations of statistical methods of sampling, classifying, analyzing, and presenting numerical data; frequency and sampling distributions, averages, dispersion, hypothesis testing, and analyzing up to two populations and population proportions. The course will employ the use of an online statistics learning system for problem assignments, in conjunction with the text and lectures, in completing course coverage of each statistics topic. Course Objectives The goal of this course is to introduce students to the applications of statistics in business. Students should be able to appreciate the need for learning statistics and its importance in the real life business applications Learning Outcomes At the end of the course, students are able: 1. Prepare...
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...10/08/2014 Chapter 4 Basic Probability PowerPoint to accompany: Learning Objectives After studying this Chapter you should have a better understanding of: • Basic probability concepts • Conditional probability • To use Bayes’ theorem to revise probabilities • Various counting rules Source: 18846245 2 Copyright © 2013 Pearson Australia (a division of Pearson Australia Group Pty Ltd) – 9781442548473/Berenson/Basic Business Statistics/3e 9781442549272/Berenson/Business Statistics /2e The Probability that an American can’t Locate the US on a World Map is One Fifth Source: http://www.youtube.com/watch?v=qQdhMSEqhfg&feature=related 3 Copyright © 2013 Pearson Australia (a division of Pearson Australia Group Pty Ltd) – 9781442548473/Berenson/Basic Business Statistics/3e 9781442549272/Berenson/Business Statistics /2e Copyright © 2013 Pearson Australia (a division of Pearson Australia Group Pty Ltd) – 9781442548473/Berenson/Basic Business Statistics/3e 1 10/08/2014 Three Approaches to Assessing Probability 1. a priori classical probability • based on prior knowledge 2. empirical classical probability based on observed data • 3. subjective probability based on individual judgment or opinion about the probability of occurrence • 4 Copyright © 2013 Pearson Australia (a division of Pearson Australia Group Pty Ltd) – 9781442549272/Berenson/Business Statistics /2e Important Terms Probability – a numerical...
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...Statistics in Business QNT/ 351 May 7, 2013 Statistics in Business One of the tools used to make decisions is statistics. Statistics is used not only by businesspeople; we all also apply statistical concepts in everyday lives. (Basic Statistics for Business & Economics) Define Statistics Statistics is a mathematical science connect to the collection, analysis, interpretation or explanation, and presentation of data. It also provides tools for prediction and forecasting based on data. The word statistics can either be singular or plural. “In its singular form, statistics refers to the mathematical science. In its plural form, statistics is the plural of the word statistic, which refers to a quantity, calculated from a set of data.”(www.socialresearchmethods.net) Identify different types and levels of statistics. There are two types of statistics, descriptive and inferential. Descriptive statistics are used to describe the basic features of the data in a study. It provide simple summaries about the sample and the measures. Inferential statistics is trying to reach conclusions that extend beyond the immediate data alone. The different levels of statistics are nominal, ordinal interval and ratio which are level of measurements. Data can be classified according to levels of measurement. The level of measurement of the data “dictates the calculations that can be done to summarize and present the data. It will also determine the statistical tests that should be performed.”(Basic...
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...Czarina Jayce S. Rivera and Mr. Gerome M. Vedeja Newsday: Labor Issues You are an investigative journalist for TIME magazine who is currently writing about the relationship of economic growth and the unemployment rate in the Philippines. You will create a feature article about the Philippine labor market showing qualitative and quantitative data and analysis. According to the National Statistical Coordination Board (NSCB), the Philippines’ Gross Domestic Product (GDP) growth for 2014 was at 6.1%, making our country one of the fastest growing economies in Asia. However, according to the National Statistics Office (NSO), unemployment rate remains at 7%. As an investigative journalist, you are trying to help the public reconcile that there is economic growth despite our deteriorating labor market. Using the data collected, you will select and analyse three statistics to show the current state of our labor market. Aside from this, you will supplement your quantitative analysis with qualitative information or data from minimum wage workers at SM. Your comprehensive investigation should justify your conclusion about the country’s economic condition. Depending on your conclusion, you will provide possible ways to sustain the current economic condition or solve the problem that our economy is facing. In doing so, you might want to focus on the labor market. You will be assessed on your ability to identify and explain relevant quantitative data related to the issue, and...
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