Statistical Methods-II

Paper Code: 
ECO 213
Credits: 
4
Contact Hours: 
60.00
Max. Marks: 
100.00
Objective: 
  1. To introduce the various techniques related to index numbers, time series and interpolation.
  2. To examine the concept of probability and probability distributions.
  3. To acquaint the students with the techniques of hypothesis testing.

Course Outcomes (COs):

Course

 Outcome (at course level)

Learning and teaching strategies

Assessment Strategies 

Paper Code

Paper Title

ECO 213

Statistical Methods-II

CO22: Students will analyze different statistical tools like time Series Analysis & Interpolation

CO23:  Students will examine the concepts of index numbers and probability distributions.

CO24: Students will analyze time series data using various methods.

CO25: Students will implement the technique of hypothesis testing.

Approach in teaching: Interactive Lectures and Discussions.

 

Learning activities for the students:

Practice Modules and

Assignments.

Class activity, Assignments and Semester end examinations.

 

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), t (one sample, independent samples and paired samples) and chi-square (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: 
2021-22
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