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Statistical Methods – II
Paper Code:
ECO 213
Credits:
4
Contact Hours:
60.00
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;
- Measurement of seasonal variation;
- 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.
12.00
Unit IV:
Probability Distributions
- Random variable, types of random variable- discrete and continuous;
- Probability distribution function;
- Mathematical Expectation
- Binomial, Poisson and Normal Probability Distributions.
12.00
Unit V:
Hypothesis Testing
- Procedure of testing of hypotheses;
- Applications of Z, t and Chi Square tests.
Essential Readings:
1. Gupta, S.P., Statistical Methods, S.Chand and Sons, New Delhi.
2. Croxton , F.E., D.J.Cowden and S. Klein, Applied General Statistics, Prentice Hall ,New Delhi.
3. Speigel, M.R.,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.
References:
Academic Session:
