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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 & 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:
- Gupta, S.P., Statistical Methods (Recent Edition), S.Chand and Sons, New Delhi.
References:
- Gupta, S.C. and V.K. Kapoor (1993), Fundamentals of Applied Statistics, S.Chand and Sons, New Delhi
- Croxton , F.E., D.J.Cowden and S. Klein(1973), Applied General Statistics, Prentice Hall ,New Delhi.
- Speigel, M.R. (1992),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:
