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IIMBx: QM101.1x Statistics for Business - I

  • What kind of device must I have to browse the content? Are there any restrictions on operating systems?

Any decent laptop or desktop computer will do. Any machine running Windows/Mac OSX/most variants of Linux operating system would suffice. You must have a good internet connection, because this course is heavy on videos.

  • What are the software requirements?

A spreadsheet software like Excel or LibreOffice is required. We will also harness the power of spreadsheets on Google. There are a few occasions when the feature will only work as demonstrated on Excel.

  • Will we be using packages like SPSS, SAS, Stata, Minitab?

We shall not be needing these packages. For what we will be doing in this course, a spreadsheet package is quite adequate.

  • Can I use gadgets like phones or tablets?

You can, except, spreadsheets don't work as well on these devices. That being said, you could use phones and tablets to watch videos and perhaps, answer the MCQs. In the near future, you can imagine software and hardware companies working closely to bridge the gaps and make the experience more uniform across devices.

  • Is the course math-heavy?

Back in your school days, you might have been exposed to probability concepts using coloured beads or dice in jars or playing cards and so on. Some of you could have been put off. We promise you, we will build your fundamentals using data from real business situations.

  • How is this course different from what is taught at a school or undergrad level?

There are three key differences:

    1. Most of our discussions are shaped by large datasets
    2. Our datasets come from business and economics. We will discuss the implications of our analysis within their context.
    3. Finally, you will assess business scenarios yourself and to draw conclusions.
  • Are there any textbooks for references?

The course is sufficient in itself. Should you need additional references, you can refer to the following:

    1. Albright and Winston. Business Analytics, 5th Edition (Cengage, 2015)
    2. Aczel and Sounderpandian. Complete Business Statistics, 7th Edition (McGraw Hill, 2011)
    3. Stine and Foster. Statistics for Business: Decision Making and Analysis, 2nd Edition (Pearson, 2012)
    4. Dawn Griffiths. Head First Statistics (O'Reilly Media (2008)

For those in India, all of these are available in an economically priced edition. Excellent references indeed!