Random variable and expectation: concept of random variable, discrete and continuous random variables, probability distribution of discrete and continuous random variables, expected value and variance of random variable, some properties of expectation and variance, joint probabiliy and marginal probability, expectation, variance, co-variance and correlation of joint random variable.

Univariate probability distribution: bionominal, poisson and normal distributions- their propertis and application to business data.

Sampling and sample design: Concept and importance of sampling with particular reference to business data, sampling with replacement and sampling without replacement, probability sampling and non probability sampling, simple random sampling, determination of sample size.

Test of hypothesis: Concept and importance, perliminaries- Null and alternative hypothesis, one tailed test and two tailed test, errors in hypothesis testing, acceptance region and rejection region, signficance level, p-value, power and size of the test. Steps of hypothesis test (cariance known or unknown), equality of several means test, variance test-significance of single variance, equality of two variance, test of independence in a contingency table.

Time series analysis: Meaning and importance, components in time series data, Matods of eliminating trends in time series data.

Index number: Meaning and importance, unweighted and weighted index numbers, test for index numbers, cost of living index number.

Statistical quality control: Importance, aspects of qualiy control of industrial products, techn;iques of quality control, control charts- variable and attribute control charts.

Mid-term Examination                    30%Marks

Semester Final Examination             50%Marks

Internal Evaluation                           20%Marks