Unit-I
Statistics : Definition, Importance & Limitation, Collection of data, classification and
presentation of frequency distribution
Measures of Central Tendency and Dispersion : Meaning and objectives of measure of central
tendency- arithmetic mean, median, mode, geometric mean and harmonic mean, characteristics,
applications and limitations of these measures; Measure of variation, range, quartile deviation,
mean deviation and standard deviation, coefficient of variation.
Unit II
Correlation and Regression : Meaning of correlation , types of correlation positive and methods
of studying correlation, Lines of regression, co-efficient of regression, standard error of estimate.
Unit III
Index numbers and Time series : Index number and their uses in business; construction of
simple and weighed price, quantity and value index numbers, test for an ideal index number,
Components of Time series - secular trend, cyclical, seasonal and irregular variations. Methods of
estimating secular trend and seasonal indices : use of time series in business
Unit IV
Probability & Probability Distributions : Definition, Basic concepts, Events and experiments,
random variables, expected value Types of probability: Classical approach, Relative frequency
approach or empirical probability, Subjective approach to probability, Theorems of probability:
Addition theorem, Multiplication theorem, Conditional probability, Bays Theorem