Unit 1

Measures of Central Tendency and Dispersion: Introduction, Objectives of statistical average, Requisites of a Good Average, Statistical Averages, Appropriate Situations for the Use of Various Averages – Range – Quartile deviations, Mean deviation, Standard Deviation – Properties of standard deviation Coefficient of Variance. (12+2 hrs lab)

Unit 2

Probability and Distributions: Introduction – Definition of probability – Basic terminology used in probability theory – Addition rule – Multiplication rule, Conditional Probability. Random Variables, Probability Distributions – Discrete probability distributions – Continuous probability distributions – Binomial Distribution, Poisson Distribution, Normal Distribution. Mean and variance of these distributions. (10+2 hrs lab)

Unit 3

Correlation and Regression Lines: Two dimensional random variables. Conditional mean and variance. Simple linear Regression with discrete data. Properties of least square estimators, least squares method for estimation of regression coefficients. Karl Pearson’s correlation coefficient – Spearman’s Rank Correlation Coefficient, Partial Correlations. (10+2 hrs lab)

Unit 4

Testing of Hypothesis: Hypothesis Testing, Tests on a Population Proportion – Tests on the Mean of a Normal Distribution with Variance known and unknown, Tests on the variance – Test for Goodness of fit, Contingency table tests. Chi-Square as a test of independence. Applications of Chi-Square test.
Practical applications. (10+2 hrs lab)

Unit 5

Analysis of Variance (ANOVA): Introduction – Objectives of ANOVA – ANOVA table, Assumptions for study of ANOVA, Classification of ANOVA – ANOVA table in one-way – Two -way classifications and Latin Square Design. (6+2 hrs lab)

Course Objective:
This Course deals with the Statistical Methods and tools used for applied research using software packages. Students would be able to acquire skill and knowledge for analysis and interpretation of the data through this course.

Course Outcomes:

Textbook:

1. Amir Aczel, Jayavel Sounderpandian – Complete Business Statistics, 7th Edition – McGraw Hill

Reference Books:

1. J.K. Sharma – Business Statistics, 4th Edition – Vikas Publishing House
2. Alexander Holmes, Barbara Illowsky, Susan Dean – Introductory Business Statistics – Samurai Publishers
3. Ravichandran J – Probability and Statistics for Engineers, First Reprint Edition – Wiley India
4. Ronald E. Walpole, Raymond H. Myers, Sharon L. Myers, Keying Ye – Probability and Statistics for Engineers and Scientists, 8th Edition – Pearson Education