Basics of Statistics

Basic Concepts, Primary & Secondary data, classification of data, Graphical representation of data, frequency distribution.

Measures of central tendency; Mean, Median, Mode, Geometric mean and Harmonic mean; Measures of dispersion; Range, Mean Deviation, Standard Deviation, Coefficient of variation, Quartile Deviation, Skewness and Kurtosis; Difference between these measures and their interpretation.

Correlation- Concepts and importance, Positive & Negative correlation, Karl-Pearson’s coefficient of correlation, Rank correlation coefficient, Spurious correlation, Coefficient of determination. Regression- Concept, Difference between correlation & regression.

Introduction, components of a time series, Multiplicative and additive models, Semi Average & Moving Average method;

Concept, price relative, quantity relative, value relative, Laspeyre’s, Passche’s and Fisher’s index numbers, Family Budget method, problems in construction and limitations of index numbers Tests for adequacy of index numbers.