Challenges in Teaching Sampling Theory to MBA Students
November 7th, 2010 | 
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Challenges in Teaching Sampling Theory to MBA Students
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Home Page > Business > Management > Challenges in Teaching Sampling Theory to MBA Students
Challenges in Teaching Sampling Theory to MBA Students
Posted: Sep 17, 2010 |Comments: 0
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Challenges in Teaching Sampling Theory to MBA Students
By: Ruchi Bhatia
About the Author
About Author The Author Ms. Ruchi Bhatia has an expertise in finance and marketing. Presently she is working as a Senior Lecturer at NSB known as one of the top business schools in Delhi
.
(ArticlesBase SC #3288318)
Article Source: http://www.articlesbase.com/ – Challenges in Teaching Sampling Theory to MBA Students
What is Statistics
Even though you may not have realized it, you probably have made some statistical statements in your everyday conversation or thinking. Statements like “I sleep for about eight hours per night on average” and “You are more likely to pass the exam if you start preparing earlier” are actually statistical in nature.
Statistics as a discipline is the development and application of methods to collect, analyze and interpret data. Modern statistical methods involve the design and analysis of experiments and surveys, the quantification of biological, social and scientific phenomenon and the application of statistical principles to understand more about the world around us.
Importance of Statistics in Management Studies
Statistics play an important role in business. A successful businessman must be very quick and accurate in decision making. He should know what his customers wants, what to produce and sell and in what quantities. Statistics helps businessman to plan production according to the taste of customers. The quality of the products can also be checked more efficiently by using statistical methods. So all the activities of the businessman are based on statistical information. He can make correct decisions about the location of business, marketing of the products, financial resources etc.
If we have an ambition to become Director of Research, or to become president, entrepreneur, or even TV star, we need to know something about statistics. In every field, every person apply statistics directly or indirectly.
Statistics is applied in all the major subjects of MBA such as Marketing Management, Human Resource Management, Organizational Behavior, Financial Management etc.
What is Sampling Theory?
Suppose that, as the personnel director of a large bank, we need to write a report describing all the employees who have voluntarily left the company in last 10 years. We would have a difficult task locating all these thousands of people. They are not easily accessible. The best idea is to locate some of the employees who left the company in last 10 years, take representative sample from them and interview them in order to generalize the entire group. To determine the characteristics of the whole, we have to sample only a portion.
In statistics, we use the word population to refer not only to people but also to all items that have been chosen for study and the word sample to describe a portion chosen from the population.
Importance of Sampling
Taking a sample instead of conducting a census offers several advantages:
Sample can save money and time
For given resources, sample can broaden the scope of study
Because the research process is sometimes destructive, the sample is used for research.
If accessing the population is impossible, sample is the only option.
For example to test the quality of a fuse, to determine whether it is defective, it must be destroyed. To obtain a census of the quality of a lorry load of fuses, you have to destroy all of them. This is contrary to the purpose served by quality control testing. In this case, only a sample should be used to assess the quality of the fuses.
Challenges to teach sampling theory to MBA students –
Not all MBA students are from statistic background: More than 50 % students pursuing MBA are from non-stat’s background. Teaching sampling theory to them is a very big challenge as it requires them to be clear with basic terms (like mean, variance etc.) included in the Sampling Theory.
Aptitude varies among the students: IQ level differs from student to student. Some students grasp the topic easily whereas some students take more time to understand the same topic.
Their goal of life is not mathematics or statistics: MBA students most commonly work in the fields like accounting, finance, human resource, marketing, sales etc. They do not work in the field of mathematics or statistics directly. However, to succeed in all the fields in which MBA’s work, there is a requirement of knowledge of sampling theory.
Mathematics or Statistics need a huge practice and hence huge time: Sampling theory is a very vast topic and to understand it, there is a requirement of huge time.
Sampling theory includes hypothesis that require imagination: The most important part of sampling theory is hypothesis, which is used in almost every field (like marketing, human resource etc.) Therefore, MBA students should know how and when to use hypothesis. Hypothesis is an assumption that we make about the population parameter. Therefore, it requires imagination, which is very difficult to make them understand.
Approach to overcome this challenge
Classification of students in A, B, C category.
o A category – Students from statistics background
o B category – Students who are not from statistics background but are willing to learn it.
o C category- Students who are not from statistics background and are not willing to learn it.
This will help the teacher to know that how much time they have to give to each category and what should be the approach of teaching. In this case, the students from the same category may possess same knowledge and same I.Q level and hence it is easy to make them understand the topic. For A category, introduction of the concept followed by some examples is enough. For B category, large number of examples should follow introduction of the concept. Give them home assignments for their well understanding. For C category, it is necessary to tell them the importance of sampling theory in various fields to arouse their interest. Then introduce the concept, give them some practical examples followed by home assignments.
Field assignments related to the topic: Theoretical approach of sampling theory is very vast and difficult. Field assignments will aid them in understanding how sampling theory can be used practically to make there work easy. This will also develop their interest in sampling. It will demonstrate the importance of avoiding biasness to obtain accurate results.
Practical examples: Sampling theory introduces methods for obtaining samples from finite populations and for conducting surveys. It helps in developing the understanding of key concepts of sampling theory.
Case study: Case studies are syntheses of real-life cases based upon data and research. It requires the students to isolate and think through the key issues involved against theory and the larger comparative environment. Students should identify appropriate strategies for the resolution of the ‘case’ and then recommend for the best resolution. The cases motivate students to learn this theory and they provide a meaningful framework for the theoretical material. Solving a case gives the student experience with how sampling can be used to answer scientific questions, and it helps the students to develop skills in statistical thinking.
Conclusion
Sampling theory is a very important topic for MBA students. Therefore, they should not neglect it considering that they will get rid of it in specialization courses. Teachers should give more emphasis on the students who are not from stat’s background. If we teach sampling theory by giving practical examples, field assignments and case studies, students can understand it properly and can apply it practically wherever it is needed.
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(ArticlesBase SC #3288318)
Ruchi Bhatia -
About the Author:
About Author The Author Ms. Ruchi Bhatia has an expertise in finance and marketing. Presently she is working as a Senior Lecturer at NSB known as one of the top business schools in Delhi
.
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About Author The Author Ms. Ruchi Bhatia has an expertise in finance and marketing. Presently she is working as a Senior Lecturer at NSB known as one of the top business schools in Delhi
.
DANGEROUS KNOWLEDGE (chapter 1 or 2) – BBC: In this one-off documentary, David Malone looks at four brilliant mathematicians – Georg Cantor, Ludwig Boltzmann, Kurt Gödel and Alan Turing – whose genius has profoundly affected us, but which tragically drove them insane and eventually led to them all committing suicide. The film begins with Georg Cantor, the great mathematician whose work proved to be the foundation for much of the 20th-century mathematics. He believed he was God’s messenger and was eventually driven insane trying to prove his theories of infinity Georg Ferdinand Ludwig Philipp Cantor (1845-1918) was a mathematician, best known as the creator of set theory, which has become a fundamental theory in mathematics. Cantor established the importance of one-to-one correspondence between sets, defined infinite and well-ordered sets, and proved that the real numbers are “more numerous” than the natural numbers. In fact, Cantor’s theorem implies the existence of an “infinity of infinities”. He defined the cardinal and ordinal numbers and their arithmetic. Cantor’s work is of great philosophical interest, a fact of which he was well aware. Philosophy, religion and Cantor’s mathematics. The concept of the existence of an actual infinity was an important shared concern within the realms of mathematics, philosophy and religion. Preserving the orthodoxy of the relationship between God and mathematics, although not in the same form as held by his critics, was long a concern …
Video Rating: 5 / 5
Question by Pete: Does anyone know of a book that could teach me basic electronics?
I’m looking for something with theory in it, but not quite ready for an EE course yet. Something with a decent balance of theory, mathematics, and maybe circuit board projects or the like. Mind you, I am as new at this as anyone, but I’ve got a few calculus classes under my belt.
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Answer by M S B
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Electronics by G.K.Mithal it is simple one..
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Posted in Theories Of Mathematics
This documentary is amazing
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beautiful video
Very captivating too Augustus…like the one before…i told already to own DANGEROUS knowledge is like having the Royal Flush in his hands….’
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Try the link to HAM radio operators for a start. It is prepared for technical laymen rather than electronics engineers and should lend insight into more difficult materials later.
Try the ARRL handbook. It’s like a bible for ham radio stuff and will take you all the way from resistors and batteries to digital signal processing if you want to go that far. Amazon and everyone else has it.
yes i recommend u David Holiday Basic physics Vol2.
it’s about electricity and magnetism.
good luck