Description Introduction to Statistics: Definition, Functions, Scope, Usage and Limitations of Statistics. Statistical Data: Meaning and Types, Collection and Rounding of Data, Classification and Presentation of Data Measures of Central Tendency: Types of Averages- Arithmetic Mean (Simple and Weighted), Median and Mode, Harmonic and Geometric Mean. Measures of Dispersion: Range, Quartile Deviation, Mean Deviation, Standard Deviation and Coefficient of Variation. Correlation Analysis: Meaning, Types, Measurement of Simple Linear Correlation, Karl Persons Correlation Coefficient Method, Rank Correlation Method (Excluding multiple correlations). Regression Analysis: Simple Linear Regression, Why there are two Regression Lines, Estimation of Coefficient (Intercept and Slope Parameters), Properties of Regression Coefficients, Difference between Correlation and regression Index Numbers: Meaning and Importance, Methods of Construction of Index Numbers: Weighted and Unweighted; Simple Aggregative Method, Simple Average of Price Relatives Method, Weighted Index Method: Laspeyres Method, Paasches Method and Fisher’s Ideal Method including Time and Factor Reversal Tests, Consumer Price Index. Time Series Analysis: Components, Estimation of Trends (Graphical Method, Semi Average Method, Moving Averages Method and Method of Least Squares), Seasonal Variation.
