Statistical Methods – II

Paper Code: 
ECO 213
Credits: 
4
Contact Hours: 
60.00
Objective: 
  1. To introduce the basic concepts in statistics to the students and the way in which these concepts are applied in Economics; and
  2. 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;
  • Methods of interpolation: Binomial Expansion method and Newton’s Advancing Difference method
12.00
Unit III: 
Elementary Probability Theory
  • Random experiment, sample space and event;
  • Permutations and combinations.
  • The concept of probability;
  • Theorems of probability (addition and multiplication);
  • Conditional probability and independence of events.
12.00
Unit IV: 
Probability Distributions
  • Random variable, types of random variable(discrete and continuous);
  • Probability distribution function;
  • Special Probability Distributions: Binomial, Normal, Standard Normal and t - distribution, with their properties.
12.00
Unit V: 
Hypothesis Testing
  • Defining statistical hypotheses and testing of hypotheses;
  • Applications of Chi Square-Goodness of fit, independence of two attributes;
  • Applications of t-test –test for single mean, difference of means, paired t-test, correlation coefficient;
Essential Readings: 
  1. Gupta, S.P., Statistical Methods (Recent Edition), S.Chand and Sons, New Delhi.
References: 
  1. Gupta, S.C. and V.K. Kapoor (1993), Fundamentals of Applied Statistics, S.Chand and Sons, New Delhi
  2. Croxton , F.E., D.J.Cowden and S. Klein(1973), Applied General Statistics, Prentice Hall ,New Delhi.
  3. Speigel, M.R. (1992),Schaum’s Outline of  Theory and Problems of Statistics, McGraw Hill Book, London.
  4. Nagar, A.L. and R.K. Das , Basic Statistics, Oxford University Press, Bombay.
Academic Session: 
2017-18
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