Course Overview:

This subject aims to familiarize students towards perceiving and analyzing modern business & economic numerical and apply statistical techniques for arriving at sound management decisions. On completion of this course, students would be able to acquire an understanding of descriptive statistical tools like measures of central tendency & measures of variation and apply these tools to real life situations. Course helps in identifying and establishing relationships between real life variables using tools like correlation and regression and comprehend the concepts of probability & probability distributions. Course also discusses the concept of sampling & sampling distributions and enables identifying application of sampling methods for real life situations. The Course also helps in developing hypothesis for different situations & makes use of tools like Chi-square test and ANOVA at primary level.