Collaborating the academics and industries to ignite the inspiring minds
Collaborating the academics and industries to ignite the inspiring minds
Grooming the students into the best professionals, with the hope to build a stronger world.OBJECTIVE:
• To learn the applications of statistics in business decision making.
UNIT I INTRODUCTION
Basic definitions and rules for probability, conditional probability independence of events, Baye’stheorem, and random variables, Probability distributions: Binomial, Poisson, Uniform and Normal distributions.
UNIT II SAMPLING DISTRIBUTION AND ESTIMATION
Introduction to sampling distributions, sampling distribution of mean and proportion, application of central limit theorem, sampling techniques. Estimation: Point and Interval estimates for population parameters of large sample and small samples, determining the sample size.
UNIT III TESTING OF HYPOTHESIS – PARAMETIRC TESTS
Hypothesis testing: one sample and two sample tests for means and proportions of large samples (z-test), one sample and two sample tests for means of small samples (t-test), F-test for two sample standard deviations. ANOVA one and two way.
UNIT IV NON-PARAMETRIC TESTS
Chi-square test for single sample standard deviation. Chi-square tests for independence of attributes and goodness of fit. Sign test for paired data. Rank sum test. Kolmogorov-Smirnov – test for goodness of fit, comparing two populations. Mann – Whitney U test and Kruskal Wallis test. One sample run test.
UNIT V CORRELATION AND REGRESSION
Correlation – Coefficient of Determination – Rank Correlation – Regression – Estimation of Regression line – Method of Least Squares – Standard Error of estimate.
TOTAL: 45 PERIODS
OUTCOME:
To facilitate objective solutions in business decision making under subjective conditions.
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