Statistical Methods

Paper Code: 
ECO 402
Credits: 
3
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 

Course Objectives:

The objectives of this course are-

1. To make the students gain knowledge of statistical concepts.

2. To develop an understanding of descriptive statistics in the students.

3. To introduce them to advanced statistical tools like correlation and regression.

 

Course Outcomes (COs):

Course

 Outcome (at course level)

Learning and teaching strategies

Assessment Strategies 

Paper Code

Paper Title

ECO 402

Statistical Methods

CO 28: Acquire knowledge of different statistical tools.

CO 29:  Application of statistical tools like descriptive statistics, correlation and regression for economic analysis.

CO 30: Develop an understanding of use of statistical techniques in day-to-day-life.

 

Approach in teaching: Interactive Lectures and Discussions.

 

Learning activities for the students:

Practice Modules and

Assignments.

Class activity, Assignments and Semester end examinations.

 

9.00
Unit I: 
Data Analysis
  • Basic concepts: Population and Sample, Census and Sample survey, Primary and Secondary data;
  • Diagrammatic representation of data-Bar Diagram and Pie Diagram;
  • Graphic representation of data-Line Graph, Histogram, Frequency Polygon, frequency curves and Ogives;

 

9.00
Unit II: 
Measures of Central Tendency
  • Mean, Median, Mode-Calculations, their relative merits and demerits.

 

9.00
Unit III: 
Dispersion & Skewness
  • Absolute and Relative Measures of Dispersion-Range, Quartile Deviation, Mean Deviation, Standard Deviation;
  • Skewness – concept and measures (Karl Pearson’s and Bowley’s measure).

 

9.00
Unit IV: 
Correlation Analysis
  • Simple Correlation - Karl Pearson’s coefficient of correlation;
  • Spearman’s Rank Correlation Coefficient.

 

9.00
Unit V: 
Regression Analysis
  • Concept of Simple Regression;
  • Regression lines and Regression Coefficients;
  •  Fitting of regression lines (method of least squares). 

 

Essential Readings: 
  1. Gupta, S.P., Statistical Methods , S.Chand and Sons, New Delhi.
  2. Nagar, A.L. and R.K. Das, Basic Statistics, Oxford University Press, Bombay.

 

References: 
  1. Croxton, F.E., D.J.Cowden and S. Klein , Applied General Statistics, Prentice Hall, New Delhi.
  2. Speigel, M.R.,Schaum’s Outline of  Theory and Problems of Statistics, McGraw Hill Book, London.

 

Academic Session: 
2020-21
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