Business Statistics


Iya Y. Churakova, Senior Lecturer,




45 hours of classes


Major, concentration: 




Statistics-1, Statistics-2, Microeconomics


Aim of the Course:

The course aims to provide students with knowledge of the statistical methods such as probability, statistical inference, sampling, time series forecasting and regression analysis, used in describing business data. Statistical diagnostic effectiveness of the core, negotiable, human capital, as well as statistics of the quality of products is designed to provide the basis for a decision making. The objective of the course is to give the students an understanding of research process and methodology, especially in the context of the decision making process within business.


Course Content:

Topic 1. Sources of data for the diagnosis of business processes 

Topic 2. Advanced regression modelling 

Topic 3. Time-Series Forecasting and Index Numbers 

Topic 4. Analysis of covariance 

Topic 5. Decision making using statistics 

Topic 6. Expert assessments and ratings 

Topic 7. The statistical basis of quality control systems 

Topic 8. Business Demography. Review and Examples


Teaching Methods:

Lectures, individual class assignments, case studies, group work. A participative approach is used to enable learning by discovery.


Course reading:

1. Kemp Steven M. Business Statistics Demystified. McGraw-Hill Professional Publishing, 2004 (Ebrary)

2. Business Statistics Chikkodi, C.M. Satyaprasad, B.G. Global Media, Mumbai, IND Date Published: 2010  eISBN: 9789350432075  (Ebrary)

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