INTRODUCTION TO STATISTICS

Objectives: To enable the students to have a Basic understanding of the various statistical techniques and their application in Business and Decision making. In this course Learners will focus on the following Units:

UNIT-1

What and why, Statistics defined, Descriptive statistics, Inferential statistics, Role of probability, Scope of statistics, Statistical applications, Statistical concepts - Population, Sample, Parameter, Statistic, Data and variables, Quantitative & Qualitative data, Levels of measurement- Nominal, Ordinal, Interval and ratio scale, Discrete and continuous data, Data sources

Unit-2

Frequency distributions - Univariate frequency distribution -Presenting frequencies: Formation of a discrete frequency distribution, Frequency distribution tables, Formation of a continuous frequency distribution- Class limits, Class intervals, Class frequency, Class mid-point, Cumulative and relative frequency distribution; Bi-variate frequency distribution, Presenting frequencies- Cross tabulations

Unit-3

Diagrammatic and graphical presentation of data- Graphical forms, Discrete – e.g. Bar charts and Ogive, Continuous- e.g. Histogram and Ogive (Less common graphs), Scatter diagrams

Unit - 4

Measuring location: Arithmetic mean, median, mode (Specific Topics: Quadratic mean, Geometric mean, Harmonic mean)

Unit -5

 Measures of Dispersion (Variability) or Spreads: Range and inter-quartile range, Variance and Standard deviation, Coefficient of variation, Percentile; Skewness and Kurtosis, Cheby cheff’s rule, Empirical rule

Unit -6

 MEASURES OF LINEAR RELATIONSHIP: Covariance, Coefficient of correlation, Least squares method, Regression line, linear transformations and combinations: Linear transformations of variables- Mean and Variance, Standardization.

Unit -7

INDEX NUMBERS: Meaning and Use of index numbers, simple, complex, value and quantity indexes, splicing, Consumer price index, GDP deflator.

UNIT -8: STATISTICAL COMPUTATIONS Using – Excel

UNIT- 9:  INTRODUCTION TO PROBABILITY (Not Examinable)