Download The course aims to equip students with basic statistical concepts that

CHINHOYI UNIVERSITY OF TECHNOLOGY
SCHOOL OF NATURAL SCIENCES AND MATHEMATICS
DEPARTMENT OF MATHEMATICS AND STATISTICS
Course Name:
Course Code:
Number of Credits:
Introduction to Statistics B - Business
CUMT105
10
Number of hours:
48
1. Aim
The course aims to equip students with basic statistical concepts that are used in the business world.
The main trust of the course will be on the application of the statistical tools in corporate decision
making processes.
2. Course Objectives
The course’s objectives are to introduce and equip students with:
a) Concepts of descriptive statistics and probability.
b) Data analysis and interpretation skills.
c) Tools for inferential statistics.
3. Assessment
The student will write at least two assignments, two tests and a three-hour final examination. The
final mark will constitute 30% of continuous assessment and 70% of the examination mark.
4. Course Outline
Week Chapter
1
1
2
2
3
3
5
4
Section
Topic(s)
Introduction to
Statistics
Data
Collection
No. of
No. of
Lectures Hours
Statistics.
1
2
Definition.
Uses
of
Population, Sample
Sources of data, Direct observation,
Interview methods, Surveys and
questionnaire
design.
Sampling
Techniques (Simple random, stratified,
cluster, systematic).
Data
Variable types, presentation and
Representation summarization techniques: Tables,
charts, graphs, histogram, stem and leaf
display, box and whisker plot.
Measures of Mean median, mode, range, variance
central
and standard deviation, standard error
tendency and of the mean for grouped and ungrouped
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2
4
3
6
3
6
dispersion
6
7
5
8
6
9
7
10
8
11
9
12
5.




data. Skewness and Kurtosis.
Assignment 1 – Due on
Test 1 and revision –
Probability
Possibility space, Events, Outcomes,
Probability
laws,
conditional
probability, tree diagram.
Probability
Random
variables.
Discrete
Distributions
distributions – Binomial and Poisson
distributions. Continuous distributions
- Normal distribution
Regression
Scatter
plot,
estimation
and
and
interpretation of regression parameters,
Correlation
calculation and interpretation of
Analysis
correlation
coefficient
and
determination.
Index
Simple index numbers, Weighted
Numbers
average of relatives, Laspeyres and
Paasches indices, Retail and Price
indices
Confidence
Mean, difference of means, proportion,
Internal and variance and standard deviation.
Hypothesis
Testing concerning mean, proportion
testing
and two samples. Z, T and Chi-square
tests.
Assignment 2 – Due on
Test 2 and revision –
2
2
4
4
3
6
2
4
2
4
3
6
2
4
Reading Material
Groebner, Shanoon, Fry and Smith. Business Statistics, 5th Ed. Prentice Hall, 2001
Ross S. M. Introduction to Probability Theory.
Wegner, T. Applied Business Statistics – Methods and Applications, Juta & Co. Ltd, 1999.
The Internet.
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