Course Code: STAT-101
Title: Elementary Statistics
Credit Hours: 03
The aim of this course is to familiarize and give students a thorough understanding of statistics particularly topics related to process of statistical solution to a problem, descriptive statistics including classification, organization and graphical presentation of data, measures of central tendency, dispersion and a survey of basic probability concepts.
- Descriptive and Inferential statistics
- Variable and Constant
- Population and Sample
- Parameter and Statistic.
- Sequence of statistical solution to a problem.
Type of measurement scales:
Types of data:
- Univariate Data
- Bivariate Data
- Multivariate Data
- Primary Data
- Secondary Data
- Quantitative Data
- Qualitative Data
- Time series Data
- Cross-sectional Data
- Pooled Data
- Significant Digits
- Rounding off numbers
Presentation of Data
- Classification and Tabulation
- The Frequency Distribution
- The Cumulative Frequency Distribution
- The Relative Frequency Distribution
- The Percentage Frequency Distribution;
Graphic and diagrammatic representation:
- Simple and Multiple Bar Charts
- Pie Chart
- Frequency Curves
Measure of Central Tendency
Types of averages for grouped and ungrouped data including arithmetic mean, weighted mean, geometric mean, harmonic mean, median, quartiles, deciles, percentiles, mode. The summary measures and box plot. Empirical relation between mean, median and mode. Advantages and limitations of mean, median and mode.
Measures of Dispersion, Skewness and Kurtosis
Absolute and relative measure of dispersion including range, quartile deviation, mean deviation, variance, standard deviation and coefficient of variation for grouped and ungrouped data. Definition and interpretation of variance and standard deviation, computation of variance and standard deviation, properties of standard deviation and variance; skewness: Karl Pearson’s coefficient of skewness, Bowley’s coefficient of skewness; kurtosis and chebyshev’s theorem. Covariance and correlation analysis.
Index Numbers, Un-weighted index numbers; Simple aggregative index; Weighted indexes; Laspeyre’s price index, Paaseche’s price index, Marshal- Edgeworth price index; Fisher’s ideal index; Consumer Price index (CPI), Producer Price Index (PPI), CPI versus GDP Deflator; Issues in constructing and using index numbers; Application of index numbers to business and economics.
• Anderson, D. R., Sweeney, D. J., Williams, T. A., Camm, J. D., & Cochran, J. J. (2014). Essentials of statistics for business and economics. Cengage Learning.
• Lind, Douglas A., Marshal, William G. and Mason, Robert D., (2015) Statistical Techniques in Business and Economics (16th edition). Boston: McGraw Hill, 2003.
• Robert Johnson and Patricia Kuby (Latest issue), “Elementary Statistics”, Thomson Brooks/COLE.