Unit I Introduction
- Basic concepts of statistics
- Terminologies associated with statistics such as populations and samples
- Variables (Dependent and independent only)
- Types and sources of data, Descriptive and inferential statistics
- Data processing (editing and coding)
- Applications of statistics in business and management.
Unit II Describing Data: Graphs and Tables
- Method of forming Class Interval
- Data array
- Stem and leaf Display
- Frequency tables, Histograms
- Polygon
- Cumulative Polygon
- Scatter plots
- Simple Bar and Pie charts
- Cross tabulation
Unit III Describing Data: Summary Measures
- Central Location: Arithmetic Mean, Median, and Mode
- Non Central Location Partition Values: Quartiles, Deciles and Percentiles
- Dispersion: Range, Interquartile range, Variance, Standard deviation, Coefficient of variation, Index for qualitative variation (IQV)
- Shape: Crude measure (comparison of mean, median, and mode), five-number summary, Box plot
- Inequality Measure: Gini concentration ratio
Unit IV Basics of Probability Theory
- Basic concepts
- Counting rule
- Objective and subjective probability
- Marginal and joint Probability
- Addition rule
- Conditional probability
- Multiplication rules
- Bayes’ Theorem.
Unit V Probability Distributions
- Discrete probability distribution (Binomial and Poisson distribution and mean and standard deviation of their distributions)
- Continuous probability distribution: Normal distribution, Normal approximation of Binomial and Poisson distribution
Unit VI Estimation and Hypothesis Testing
- Concept of estimation
- Confidence intervals
- confidence intervals for means and proportions ( one sample case only )
- Test of significance
- p-value approach to hypothesis testing
- the connection between confidence intervals and hypothesis testing
- comparing two means (two-sample z and t-test procedures)
- comparing two proportions.