Course Outline

Batch 2024-26 AY 2024-25

1. Course Information

Course Code and Title Business Mathematics

Credits 3
Term and Year I, AY 2025-27
Course Pre-requisite(s)
Course Requirement(s)
Course Schedule (Day and time of class)
Classroom # (Location)
Course Instructor Prof. (Dr.) Neerja Arora and Barkha Goyal
Email [email protected]
[email protected]
Telephone Number (for office appointments) +91-99107-53545/8198919592
Student Consultation Hours By Appointment Only
Office location

2. Course Overview

The course will help the student to understand the various measures of Descriptive statistics like
measures of central tendency, measures of dispersion, Skewness and Kurtosis. The student will
be able to appreciate the differences between these measures and understand the scenarios to
apply them. They will also be able to make inferences from these measures.

The student will be able to understand the concept of Probability and its use in business
decisions. They will be able to identify random variables and calculate their Expected Value and
Variance. They will be able to work with Discrete Random Variables and Continuous Random
Variables and calculate probabilities under each scenario. They will be able to understand the
concept of sampling, types of sampling and sampling errors.

3. Course Outcomes

CO 1: Understand the diverse measures of descriptive statistics to make inferences.

CO 2: Apply forecasting techniques for decision making.
CO3: Apply the concepts of Probability and Probability Distribution Function across diverse
functional areas.

4. Mapping of COs with POs**

List of POs
PO1: Understand application of management theories in business decision making.
PO2: Demonstrate analytical and critical thinking abilities for business solutions.
PO3: Demonstrate leadership, innovativeness and creative thinking while working
individually and in groups
PO4: Integrate ethics in decision making for achieving organizational goals.
PO5: Practice sustainability in formulating business solutions

PO 1 PO 2 PO 3 PO 4 PO 5

CO1 1
CO2 1 2
CO3 2
** 1: Low ; 2: Medium ; 3 : High

5. Books and References

Business Statistics: A First Course, Eighth Edition, Pearson Publications

Authors: David M. Levine, Kathryn A. Szabat, David F. Stephan, P. Mariappan

Assessment

Assessment Description Weightage CO

Component
Assessment 1: Class Participation 10% 1,2, 3

Assessment 2: Quiz 30% 1,2,3

Assessment 3:  Description: Application based questions 60% 1,2,3
End-Term Exam  As per schedule of End Term Examinations
 Feedback: Showing of assessed answer sheets

6. CO mapping with Assessments

Assessments CO 1 CO 2 CO 3

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Class Participation 50% 30% 20%
Quiz 40% 30% 30%
End Term 40% 30% 30%

Session Plan

Sessio Topic/ Sub Topic Pedagogy Session Learning CO

n Outcomes
Descriptive Statistics
1,2 Measures of Central Chapter 3 At the end of the 1
Tendency-Mean, Median, Lecture +Class session, the student
Mode, Weighted Mean, Exercise will be able to
Calculation of SENSEX, understand the
NIFTY, Uber Ratings. various measures of
Comparison of various central tendency,
measures of central tendency. dispersion, skewness
and kurtosis.
3,4 Percentiles, Deciles, Chapter 3,5 1
Quartiles, 5 Number Lecture +Class
summary, Box Plot, Exercise
Skewness and Kurtosis

5,6 Measures of Dispersion – Chapter 4 1

Variance and Standard Lecture +Class
Deviation, Inter Quartile Exercise
Distance (IQD), Mean
Absolute Deviation,
7 Covariance, Correlation, Chapter 4 2
Relation between Covariance Lecture +Class
and Correlation Exercise
8,9 Forecasting Techniques – Chapter 20 2
Moving Average, Weighted Lecture +Class
Moving Average, Exercise
Exponential Smoothing
Probability Distributions
10 -12 Basic concepts of Probability, Chapter 6 At the end of the 3
Sample Space, Mutually Lecture +Class session, the student
Exclusive, Collectively Exercise will be able to
Exhaustive events, Marginal,
understand the
Conditional & Joint Case - Safetaxi
Probability concept of

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 Probability and
differentiate between
types of probability.
13-14 Concept of Random Chapter 7 At the end of the 3
Variables, Expected Value, Lecture +Class session, the student
Variance of Random Variable Exercise will be able to
understand Random
Variables and find
the Mean and
Standard Deviation.
15-17 Discrete Probability Chapter 7 At the end of the 3
distribution- Binomial, Lecture +Class session, the student
Probability Density Function, Exercise will be able to
Mean & Variance
Case – Packaged understand Binomial
Drinking Water Distribution and find
Industry the Mean and
Standard Deviation
18-20 Continuous Probability Chapter 8 At the end of the 3
distribution – Normal, Lecture +Class session, the student
Standard normal deviate and Exercise will be able to able
area under the curve, Inverse to calculate
Transformations Case – Mobile probabilities related
Applications to normal
Development distribution and
Inverse
Transformations by
reading the Normal
Tables.

7. Rubrics for Assessment Component

A. Rubrics for Class Participation (CP)

Class participation (CP) accounts for 10% weightage. Quality of your contribution and its
frequency will be the criterion for your CP grade.

CRITERIA Below Expectations Meets Expectations Exceeds Expectations

Frequency of Irregular in class, less Regular in class, above 80% Regular in class, 100%
Attendance and than 80% attendance attendance attendance.
Never contributes to
Quality of Sometimes makes Regularly answers
the discussion
Participation intelligent observations questions, challenges
(0-3 marks) assumptions, asks
10 marks (4-7 marks)
meaningful questions.

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 (8-10 marks)
Total Score (0-3 marks) (4-7 marks) (8-10 marks)
10 marks

Rubrics for Examinations

CRITERIA Below Expectations Meets Expectations Exceeds Expectation
Select and Use Has limited knowledge Selects and uses relevant Selects and uses relevant
Relevant on selecting and using concepts. Is able to concepts. Is skillful in the
Concepts relevant concepts. understand the use of tools and
application of theoretical techniques for problem
30 Marks (End concept. Is not able to solving. Is able to infer
Term) draw implications for correctly & understand the
business. implications for business.
Quality or Is unable to draw Is partly able to draw Is able to draw inferences
Response to inferences from the inferences from the from the computing output
Questions computing output and is computing output. and is able to clearly
unable to clearly recommend the strategy to
30 Marks (End communicate. be adopted by the
Term) Marketing
Department/Firm.

Institute’s Policy Statements

It is the responsibility of every student to be aware of the requirements for this course, and
understand the specific details included in this document. It is emphasized that this course
requires a significant commitment outside of formal class contact. The learning tasks in this
course may include classes (lectures or seminars), required readings, flipped-videos, preparation
of answers to set questions, exercises and problems, and self-study. In addition, students may be
required to complete an assignment, test or examination.
Late Submission
Assessment tasks submitted after the due date, without prior approval/arrangement, will be not
be accepted. Requests for extension of time must be made with the faculty member concerned
and based on Special Consideration guidelines.
Plagiarism:
Plagiarism is looked at as the presentation of the expressed thought or work of another person as
though it is one's own without properly acknowledging that person.
Cases of plagiarism will be dealt with according to Plagiarism Policy of the institute. It is
advisable that students should read student handbook for detailed guidelines. It is also advisable
that students must not allow other students to copy their work and must take care to safeguard
against this happening. In cases of copying, normally all students involved will be penalised

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equally; an exception will be if the student can demonstrate the work is their own and they took
reasonable care to safeguard against copying.

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