School name -ID-1
SVKM’s Narsee Monjee Institute of Management Studies
Name of School – Sarla Anil Modi School of Economics
Program: B. Sc. Economics
Semester :
Course :
Course Code:
Introduction to
Statistics
Teaching Scheme
Lecture
(Hours
per
week)
4
Practical
(Hours
per
week)
0
Tutorial
(Hours
per
week)
0
II
Evaluation Scheme
Credit
Internal Continuous
Assessment (ICA)
(Marks - 50)
Term End Examinations (TEE)
(Marks- 50 in Question Paper)
4
50
50
Pre-requisite: Understanding of basic calculus and Linear algebra.
Objectives:
• To equip students with consequently requisite quantitative skills that they can employ and build on in
•
•
•
•
•
•
•
flexible ways.
Understanding practical applications of use of statistics in constructing indexes and in various time
series analysis.
To learn how to evaluate published numerical facts using appropriate Statistical techniques
To employ use of statistical methods of analysis and inferential statistics in real world.
To learn all elements of data collection and to apply statistical models for the same based on specified
assumptions
To learn to formulate hypothesis for available data set and carry out relevant tests on it.
To evaluate various macro-economic problems and derive the best statistically significant solution
Developing an analytical thought process to statistically evaluate some economic policies
Outcomes:
•
•
•
•
•
Students will be able to analyze data statistically based on taught assumptions.
Students will develop insights into preliminary exploration of different types of data.
To be able to identify features that describe a data distribution
Various analytical skills of students will be sharpened.
Students will develop an analytical approach with deeper understanding of every concept taught.
Session No.
Theme
1
Introduction to Statistics
• Organizing a statistical survey,
Collection of data
• Classification
• Tabulation of data (Frequency
tables bivariate and univariate) ,
Marginal and conditional
frequency distribution tables and
related terminologies.
• Graphical Representation of data
Merits and demerits
Class room
teaching and
practice sheets
Measures of Central Tendency
• Mean (grouped and ungrouped
data)
Practise sheets
and practical
examples
2
Pedagogy
References
(with chapter
numbers)
Statistical
Methods –
S.P.Gupta
(Fifteenth
edition – 2008)
Chapter no :
1 (pg 1 to 6)
2 (pg 16 to 22),
3 (pg 37 to 44
and pg 47-49)
and (pg 68 76)
R.P.Hooda,Stat
istics
for
Business and
Economics,4th
Weightage
4m–5m
6m–8m
School name -ID-1
SVKM’s Narsee Monjee Institute of Management Studies
Name of School – Sarla Anil Modi School of Economics
i.
ii.
•
i.
ii.
Direct method, Assumed Mean
method and Step deviation
method.
Combined mean, Weighted
Averages.
Properties
Median
Grouped and ungrouped
Ogives
•
Mode
Grouped and Ungrouped data
Graphically
•
Partition values
Quartiles, Percentiles and Deciles.
•
Measures of Dispersion
Range, Quartile deviation, Mean
deviation from mean, median and
mode, Standard deviation and
Coefficient of variation, Combined
Standard deviation.
And their coefficients
i.
ii.
edition,Macmil
lan Publishers
India Ltd.
+ S.P.Gupta,
1995,
Statistical
Methods,
Sultan Chand
& Sons, New
Delhi, India,
(Fifteenth
edition – 2008)
Chapter no 4
(pg 82 -98 and
pg 107 to 118)
Chapter no 5
(pg 125 – pg
164 )
Merits and Demerits and its
Applications
** Derivations are taught wherever
necessary**
3
•
Skewness
Absolute and relative measures of
skewness, Karl Pearson’s
coefficient of Skewness and
Bowleys coefficient of Skewness.
•
Kurtosis
Measures of kurtosis
Problems
•
Moments
For ungrouped data.
For grouped data.
Moments about mean
Moments about Arbitrary point.
Applications
Applications to
practical
example +
Practise sheets
Statistical
Methods –
S.P.Gupta
(Fifteenth
edition – 2008)
5m
Chapter no : 6
(pg 173 -192)
** Derivations are taught wherever
necessary**
4
Correlation Analysis
• Types of correlation
i.
Scatter diagram method
ii.
Karl Pearson’s method
When deviations are taken
from assumed mean.
Properties of the coefficient
of correlation.
Applications to
practical
example +
Practise sheets
Statistical
Methods –
S.P.Gupta
(Fifteenth
edition – 2008)
Chapter 7 (pg
198-pg 205 ,pg
210 – pg 223)
7m–8m
School name -ID-1
SVKM’s Narsee Monjee Institute of Management Studies
Name of School – Sarla Anil Modi School of Economics
iii.
Interpreting the coefficient
of correlation.
Coefficient of
determination.
Merits and Demerits.
Spearman’s rank
correlation.
Where Actual ranks are
given
Where ranks are not given.
Equal ranks or Tie in
ranks.
When to use rank
correlation coefficient.
Chapter no : 8
(pg 238-pg
263)
R.P.Hooda,Stat
istics for
Business and
Economics,4th
edition,Macmil
lan Publishers
India Ltd.
( All formulas will also be derived in class)
•
5
6
Regression Analysis
Difference between correlation and
Regression analysis
Method of least squares and
Limitations
Regression Equation Y on x and X
on Y
Regression coefficients and their
properties.
Coefficient of determination.
Standard Error
( Derivation of least squares method and
all properties
• TimeSeriesAnalysis
i.
Components of time series
(theoretical explanation of all
components )
ii.
Measurements of trend
iii.
Measurements of seasonal, cyclical
and irregular variations.
Only trend is measured by
regression model rest only theory
since students will be doing the
same on Excel in IT SKILLS II
•
Index numbers
i.
Unweighted Index
Numbers
Simple Aggregative
method
Simple Average of Relatives
Method.
ii.
iii.
Weighted Index Numbers
Laspeyre’s,
Fishers,Paasche’s Dorbish
and Bowley
method,Marshall
Edgeworth method and
Kelly’s method of index
numbers. Quantity Index
Numbers.
Tests for perfection
Time Reversal test
Applications to
practical
example + real
case study
Statistical
Methods –
S.P.Gupta
(Fifteenth
edition – 2008)
4m–5m
Chapter no :
14
(pg 321,
pg 329-344)
Applications to
practical
example +
Practise sheets
R.P.Hooda,Stat
istics
for
Business and
Economics,4th
edition,Macmil
lan Publishers
India Ltd.
+ Statistical
Methods –
S.P.Gupta
(Fifteenth
edition – 2008)
Chapter no : 9
(pg 272 -306)
5m–6m
School name -ID-1
SVKM’s Narsee Monjee Institute of Management Studies
Name of School – Sarla Anil Modi School of Economics
Factor Reversal test
•
7
i.
iv.
Base shifting, Splicing and
Deflating the Index
numbers conversion of
indices. Real Wages and
real incomes
v.
The chain index numbers,
Consumer price index and
whole sale price index.
Sampling
Introduction
Purpose of Sampling
Applications to
practical
example + real
case study
Principles of Sampling
Methods of Sampling
iii.
8
9
•
•
•
•
•
Statistical
Methods –
S.P.Gupta
(Fifteenth
edition – 2008)
Probabilistic sampling methods,
Non
Probability
Sampling
Methods.Sampling
errors,
Non
sampling
errors
concept
of
standard
error.
(theoretical
discussion in class)
Sampling Distributions
Means
Difference of means
Proportions
Difference of proportions
(numericals)
Applications to real world
• Random variable
Types of random variable,
probability mass function,
probability density function,
cumulative distribution function.
• Expected value and Variance
For continuous and random
variable,
• Probability distributions
Binomial, Poisson and Normal
distributions.
Binomial tending to poissson and
normal
Poisson tending to Normal
(numericals included)
Properties
Statistical Inference – Tests of
Hypothesis
Procedure of testing hypothesis,
6m–8m
Chapter no :
12
Difference between sample and
population.
ii.
R.P.Hooda,Stat
istics for
Business and
Economics,4th
edition,Macmil
lan Publishers
India Ltd
Chapter no :
13
(pg 458 – pg
480)
Applications to
practical
example +
practice sheets
R.P.Hooda,Stat
istics for
Business and
Economics,4th
edition,Macmil
lan Publishers
India Ltd
Chapter no 13
6m–8m
+ Statistical
Methods –
S.P.Gupta
(Fifteenth
edition – 2008)
Chapter no : 1
and 2 of
volume II
Applications to
practical
example +
R.P.Hooda,Stat
istics for
Business and
6m–8m
School name -ID-1
SVKM’s Narsee Monjee Institute of Management Studies
Name of School – Sarla Anil Modi School of Economics
•
•
•
two tailed and one tailed tests of
hypothesis.
Test of Significance for large
samples (Z test)
Test of Significance for small
samples (t – test)
Chi Square test for association
practice sheets
Economics,4th
edition,Macmil
lan Publishers
India Ltd
Chapter no 14
+ Statistical
Methods –
S.P.Gupta
(Fifteenth
edition – 2008)
Chapter no :
15
(pg 500-pg
513)
and Chapter
16 (pg 518- pg
524)
Chapter 17 (pg
542-566)
Text Books:
1. R.P.Hooda,Statistics for Business and Economics,4 th edition,Macmillan Publishers India Ltd.
2. Taxman’s, Mathematics and Statistics, Ajay Goel and Alka Goel.
3. S.P.Gupta, 1995, Statistical Methods, Sultan Chand & Sons, New Delhi, India. (Fifteenth edition –
2008)
4. Shailaja Rego, T.N.Shrivastav, 2008, Statistics for Management, 1st edition, Tata McGraw Hill.
5. Richard.I.Levin, David.S.Rubin, 1997, Statistics for Management, 7th edition, prentice hall.
Reference Books:
1. R.P.Hooda,Statistics for Business and Economics,4 th edition,Macmillan Publishers India Ltd.
2. Dr M.N.Welling, Statistical Methods, Third edition, June 2015, Manan Prakshan.
Details of Term Work:
Components
Weightages
Continuous evaluation
50%
Test
40%
Assignment
5%
Case study analysis /viva
5%
Any other (Pl. Specify)
End Term
50%
Prepared by
Approved by
Signature :
Signature
School name -ID-1
SVKM’s Narsee Monjee Institute of Management Studies
Name of School – Sarla Anil Modi School of Economics
(Concerned Faculty/HOD)
(Dean)