Foundational

Business Statistics

This course provides a comprehensive overview of statistics for business. This course provides the foundation for the analysis of stochastic elements business. This course aims to develop basic understanding about the data, their representation, analysis, and the underlying principles such as probability and statistics for solving the business problems.

Taught by Prof. Rahul R Marathe

Code BSMS1203

Credits 4 Credits

Type Foundational

Prerequisites None

12-Week Roadmap

Course Structure & Syllabus

For details of standard term assessment timelines and exam structures, visit our Academics page.

WEEK 1

Introduction to statistics for business: illustrative cases, introduction to descriptive statistics and business applications

WEEK 2

Types of variables and scales of measurements, their applications, the relevance of central tendency and dispersion

WEEK 3

Role of probability distributions in business, from data to probability

WEEK 4

Probability: Marginal, conditional, and joint probabilities

Reading List

Prescribed Books & References

Statistics for Business: Decision Making and Analysis, Robert E. Stine, Dean Foster, Pearson, Third Edition.
Statistics for Managers, David M Levine, David F Stephan, Kathryn A Szabat, Pearson, Eighth Edition.
Statistics for Business and Economics, Paul Newbold, William Carlson, Betty Thorne, Pearson, Tenth Edition

Faculty & Experts

About the Instructors

Prof. Rahul R Marathe

Professor , Department of Management Studies , IIT Madras

LinkedIn Faculty Webpage

Rahul R Marathe is a Associate Professor at IIT Madras in the Department of Management Studies. He obtained his Ph. D and M.S from Iowa State University in Industrial Engineering and Statistics, and his B.E in Production Engineering from Mumbai University.

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