Course Contents
Unit I Introduction 5 hours
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 6 hours
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 10 hours
Central Location: Mean, Median and Mode
Non Central Location: 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 5 hours
Basic concepts, Counting rule, Objective and subjective probability, Marginal and joint probability, Addition rule, Conditional probability, Multiplication rules.
Unit V Probability Distributions 10 hours
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 12 hours
Concept of estimation, Confidence intervals, confidence intervals for means and proportions ( one sample case only ), Test of significance, p-value approach to hypothesis testing, connection between confidence intervals and hypothesis testing, comparing two means (two sample z and t- test procedures), and comparing two proportions.
