Course Content Overview
1. Introduction to Statistics
Definition and Characteristics of Statistics
Types: Descriptive vs. Inferential Statistics
Importance, Scope, and Applications of Statistics in Business
Limitations and Misuses of Statistics
2. Statistical Foundations
Population vs. Sample
Parameter vs. Statistic
Data: Meaning, Types (Qualitative & Quantitative), Sources
Data Collection Tools
Variables: Definition and Types
Levels of Measurement: Nominal, Ordinal, Interval, Ratio
3. Data Organization and Presentation
Frequency and Relative Frequency Distributions
Cumulative Frequency Distributions
Graphical Representations: Histograms, Ogives, Bar Graphs, Pie Charts
Pros and Cons of Graphical Methods
4. Measures of Central Tendency and Dispersion
Ungrouped vs. Grouped Data
Measures: Arithmetic Mean, Geometric Mean, Median, Mode
Dispersion: Range, Average Deviation, Variance, Standard Deviation, Coefficient of Variation
Uses, Merits, and Limitations
5. Exploratory Data Analysis
Stem-and-Leaf Plot
Quartiles, Deciles, Percentiles
Box-and-Whisker Plot
Mathematical Problems on Descriptive Measures
6. Correlation and Regression
Bi-variate Data Analysis
Scatter Diagrams
Simple Correlation and Coefficient Calculation
Simple and Multiple Linear Regression
Adjusted R² and Coefficient of Determination
Forecasting using Regression Equations
7. Probability Theory
Concepts and Laws of Probability: Addition, Multiplication, Conditional, Independent, Complementary
Bayes' Theorem
8. Probability Distributions
Random Variables and Their Distributions
Discrete Distributions: Binomial, Poisson
Continuous Distributions: Normal Distribution and its Properties
9. Sampling and Sampling Distributions
Population vs. Sample
Census vs. Sampling
Types of Sampling Techniques
Sampling Error and Central Limit Theorem
10. Estimation and Confidence Intervals
Concept of Estimation: Point and Interval
Properties of a Good Estimator
Confidence Intervals for Population Parameters
11. Hypothesis Testing
Basic Terminology and Concepts
Types of Hypotheses
Level of Significance and Errors (Type I & II)
Hypothesis Testing for:
A Single Mean
Difference Between Two Means
21 Lessons
Updated: Jun 2025