Advanced Business Statistics

Set Theory: Definition of Set, Presentation of Sets, Different types of Set- Null Set, Finite and Infinite Sets, Universal Set, Sub Set, Power Set. Set Operations, Laws of Algebra of sets, Venn Diagram.

Interpolation & Extrapolation: Newton’s methods of advancing differences, Binominal Method & Lagrange’s Method.

Concept of Permutation and Combinations Probability- Basic Concepts, Importance of Concept of Probability, Theorem of Probability (Additional Theorem and Multiplication Theorem), Conditional Probability, Bayes’ Theorem, Mathematical Expectation

Probability Distribution: Binomial, Poisson’s and Normal.

Time Series Analysis: Introduction, Utility of Time Series Analysis, Components of Time Series Analysis, Measurement of Trend: Freehand or Graphic Method, Method of Semi Averages, Methods of Moving Averages, Method of Least Square, Shifting the Trend Origin, Measurement of Seasonal Variations: Method of Simple Average, Ratio to Trend, Ratio to Moving Average Method, Link Relative Method

Statistical Inference-Test of Hypothesis: Introduction, Procedure of Testing Hypothesis, Two types of Errors in Testing Hypothesis, Two Tailed and One Tailed Tests of Hypothesis, Test of Significance for Large Samples, Test of Significance for Attributes, Test of Significance for Small Samples (Student’s t Distribution)

Chi Square Test and Goodness of Fit: Introduction, Degrees of Freedom, The Chi Square Test and Alternative Method of Obtaining of the value of Chi Square, Chi Square Test for Specified value of Population Variance.

Analysis of Variance: Application of F Test, Assumption in Analysis of Variance, Analysis of Variance in One-Way and Two-Way Classification Model.

Note- The candidate shall be permitted to use battery operated pocket calculator that should not have more than 12 digits, 6 functions and 2 memories and should be noiseless and cordless.