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,