Quantitative Techniques: Suman Kumar Deb B.Sc. Math (Hons), M.Sc. Stats, PGDM & Six Sigma Black Belt
Quantitative Techniques: Suman Kumar Deb B.Sc. Math (Hons), M.Sc. Stats, PGDM & Six Sigma Black Belt
Quantitative Techniques: Suman Kumar Deb B.Sc. Math (Hons), M.Sc. Stats, PGDM & Six Sigma Black Belt
TECHNIQUES
23/12/2016 2
What is QT
23/12/2016 3
How Statistics help Business
Business Statistical
Problem Problem
Business Statistical
Solution Solution
5
Why study statistics?
1. Data are everywhere
2. Statistical techniques are used to make many decisions that
affect our lives
3. No matter what your career, you will make professional decisions
that involve data. An understanding of statistical methods will
help you make these decisions efectively
Applications of statistical
concepts in the business world
■ Finance – correlation and regression, index numbers, time series
analysis
■ Marketing – hypothesis testing, chi-square tests, nonparametric
statistics
■ Personel – hypothesis testing, chi-square tests, nonparametric
tests
■ Operating management – hypothesis testing, estimation, analysis
of variance, time series analysis
Statistics
23/12/2016 12
Common Measures of Statistics
23/12/2016 13
Measures of Location
23/12/2016 14
Mean
23/12/2016 15
Median
23/12/2016 16
Mode
23/12/2016 17