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Course Contents

Brief revision of Statistics. Observations and their measurements. Characteristics and variables. Statistical data. Frequency tables and graphic representation of data. Stem and Leaf Plot, bar charts, pie chart, histogram, frequency polygon, Brief revision of measures of location and dispersion (Range, Standard deviation and co-efficient of variation only). Moments, skew ness and kurtosis. Importance of Index Numbers. Problems of construction of whole sale price index numbers. Fixed and chain based methods. Weighted Index Numbers. Laspeyre’s, Passche’s, Fisher’s Ideal indices. Consumer price Index numbers. Nature of Time Series, graphs of time series, Secular Trend, Seasonal, Cyclical and random movements, Analysis of Time Series, Measurement of Secular Trend by Method of Moving Averages, and Method of Least Squares, Seasonal Indices, Measurement of Seasonal variations by ratio to moving averages,and ratio to trend method. Deseasonalization of data, Forecasting. Set, subsets and operations on sets. Random experiment, Sample space Events, Simple and compound events. Definition of Probability and axioms of Probability, Counting techniques. Addition and Multiplication theorem on probability (application only), conditional probability and independence of events. Case Study: Analysis of real data based on the above contents, presented in the form of a report.

Course Synopsis

Introduction to basic tools of statistics and probability theory.

Course Learning Outcomes

The students will be able to describe the data, summarize the data and analyze its basics.

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