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Statistical Methods – II
Paper Code:
ECO 213
Credits:
4
Contact Hours:
60.00
Max. Marks:
100.00
Objective:
- To introduce the basic concepts in statistics to the students and the way in which these concepts are applied in Economics; and
- To help solving problems in statistics and interpreting the results obtained.
12.00
Unit I:
Index Numbers
- Concept of an index number;
- Laspeyer’s, Paasche’s, and Fisher’s index numbers;
- Time reversal, factor reversal, and circular tests;
- Consumer Price Index Number & Wholesale Price Index number;
- Problems in the construction of index numbers.
12.00
Unit II:
Time Series Analysis & Interpolation
- Components of a time series;
- Measurement of trend by moving averages and least square method;
- Measurement of seasonal variation by simple averages;
- Methods of interpolation: Binomial Expansion method and Newton’s Advancing Difference method.
12.00
Unit III:
Probability Theory
- The concept of probability;
- Addition and Multiplication Theorems of probability;
- Conditional probability and independence of events.
- Mathematical Expectation
12.00
Unit IV:
Probability Distributions
- Binomial, Poisson and Normal Probability Distributions.
12.00
Unit V:
Hypothesis Testing
- Procedure of testing of hypotheses;
- Applications of Z (single mean, difference of means, single proportion, difference of proportions), t (one sample, independent samples and paired samples) and chi-square (goodness of fit and independence of attributes) tests.
Essential Readings:
- Gupta, S.P., Statistical Methods, S.Chand and Sons, New Delhi.
- Croxton , F.E., D.J.Cowden and S. Klein, Applied General Statistics, Prentice Hall ,New Delhi.
- Speigel, M.R.,Schaum’s Outline of Theory and Problems of Statistics, McGraw Hill Book, London.
- Nagar, A.L. and R.K. Das, Basic Statistics, Oxford University Press, Bombay.
Academic Session:
