Course Title: Statistical Analysis (3 credit hours)

Course Code: STAT-2402

Credit Hour: 03, Contact Hour: 03

A. COURSE OBJECTIVES:
Statistical analysis is a component of data analytics. In the context of business intelligence (BI), statistical analysis
involves collecting and scrutinizing every data sample in a set of items from which samples can be drawn. A
sample, in statistics, is a representative selection drawn from a total population. After completing the course,
student will be able to research work and to analyze data for managerial decision-making.

B. LEARNING OUTCOMES:
Students who successfully complete the course shall be able to:
• Understand the concept of a frequency distribution for sample data and be able to summarize the
distribution by diagrams and statistics,
• Analyze the principles of probability and the concept of probability distributions,
• Become familiar with binomial, Poisson, normal and log-normal probability distributions,
• Formulate linear combinations of random variables and the Central Limit Theorem,
• Construct the concepts of confidence intervals and hypothesis tests,
• Make statistical comparisons of means (paired and unpaired samples), proportions and variances,

C. COURSE CONTENTS:
MID-TERM EXAMINATION

Chapters Topics

Chapter-1 Index Number: Index Number and Types of Index Number, Uses of Index Number,
Limitations of Index Number, Construct of Price Index number (Fixed Base Method,
Chain Base Method), Un-weighted and Weighted Index Number, Wholesale Price Index
Number, Consumer Price Index Number.

Chapter-2 Probability : Definition of probability, Sample space, Event, Different types of

events, Conditional probability, Independent and dependent Events, Mutually
Exclusive events, Additive & multiplicative rules of probability, Bayes theorem and
its application in Economics and banking sector.
Chapter-3 Mathematical expectation: Random variable, Mathematical expectation of discrete
random variable, mathematical expectation of continuous random variable

FINAL EXAMINATION

Chapter-4 Probability Function: Definition, types, probability mass function and probability
density function.

Chapter-5 Binomial Distribution: Definition, Characteristics, Calculation, Relation between

Binomial and Normal distribution.

Chapter-6 Poisson Distribution: Definition, Characteristics, Calculation, Relation between

Binomial and Poisson distribution.
Chapter-7 Normal Distribution: Definition, Characteristics, Calculation, Normal distribution
with its application in economics.

Chapter-8 Sampling & Sampling Distribution: Population, Sample, Parameter, Statistic,

Sampling theory, Sampling and non-sampling error, Sampling with & without
replacement, Central limit theorem, Probability sampling – (Simple random sample,
Systematic random sample, Stratified random sample, Cluster sample), Sampling
distribution of means, Standard error, Determination of Sample Size

D. BOOK RECOMMENDED:
• Schiller, J., Spiegel, M., &Srinivasan, R. A., (2012), Schaum's Outline of Probability and Statistics: 760
Solved Problem. McGraw Hill Professional, USA
• Gupta, S. P., &Gupta, M. P. (2010), Business statistics. Sultan Chand & Sons, India
• Statistics for Business and Economics (12th Edition) by- James T. McClave, P. George Benson and Terry T
Sincich
• Harnett, D., & Murphy, J., (1980) Introductory Statistical Analysis, Ed. 2nd, Addison-Wesley Publishing
Company, USA
• Matre, J. & Gilbreath, G. (1983), Statistics for Business and Economics, Revised Edition, Business
Publications Inc. USA
• Anderson, D. R., Sweeney, D. J., & Williams, T. A. (2011)Statistics for Business and Economics, 11th
Edition, South-Western Cengage Learning

E. ASSESSMENT POLICY (100% mark distribution):

Class test, Assignment 10%

Attendance 10%
Mid Term Examination (Duration- 1.50 hours) 30%
Final Examination (Duration- 2.50 hours) 50%
Total 100%
Lesson Plan of Statistical Analysis (STAT-2402)

Professional Information
Overall aim of the course
Rational This course prepares the students with the basic understanding of probability,
probability distribution & sampling distribution.
Course This course develops student’s ability to understand the probability concepts,
objective probability distribution and sampling distribution and its application to economical
data analysis. This course also develops student’s ability to use their gathered
knowledge for further economical treatments.

Students learning time (Total 130 hours)

a) Face to face 45 hours (lectures including class tests)
b) Independent 90 hours (Library, internet, assignments, home study etc.)

Content outline of the course

Lesson & Topics Learning Reading
Week hours materials &
number Assessments
Lesson- 1 & 2 Index Number: Index Number and Types of Index Number, 6 Text & Lesson-
Week-1& 2 Uses of Index Number, Limitations of Index Number, Sheet; Quiz-1
Construct of Price Index number (Fixed Base Method, Chain
Base Method), Un-weighted and Weighted Index Number,
Wholesale Price Index Number, Consumer Price Index
Number.
Lesson-3,4 Probability : Definition of probability, Sample space, 9 Text &
&5 Event, Different types of events, Conditional probability, Lesson-Sheet,
Week-3,4 & Independent and dependent Events, Mutually Exclusive Assignment -1
5 events, Additive & multiplicative rules of probability, & Quiz-2
Bayes theorem and its application in Economics and
banking sector.
Lesson- 6 Mathematical expectation: Random variable, 3 Text & Lesson-
Week- 6 Mathematical expectation of discrete random variable, Sheet,
mathematical expectation of continuous random variable Class Test-1
Mid-Term Examination: 30 marks, Time: 1.5hrs; Any three questions out of four to be answered.
Each question will carry 10 marks. There may be two/ three parts in each question.
Semester End Examination
Lesson- 7 Probability Function: Definition, types, probability mass 3 Text & Lesson
Week-7 function and probability density function. -Sheet
Lesson-8 &9 Binomial Distribution: Definition, Characteristics, 6 Text &
Week-8 & 9 Calculation, Relation between Binomial and Normal Lesson-Sheet
distribution. Assignment-2
Lesson- 10 Poisson Distribution: Definition, Characteristics, 3 & Quiz-3
Week-10 Calculation, Relation between Binomial and Poisson
distribution.
Lesson- Normal Distribution: Definition, Characteristics, 6 Lesson-Sheet
11&12 Calculation, Normal distribution with its application in Assignment-3
Week-11 economics. & Quiz-4
&12
Lesson- 13, Sampling & Sampling Distribution: Population, 9 Text &
14 & 15 Sample, Parameter, Statistic, Sampling theory, Sampling Lesson-Sheet,
Week-13, 14 and non-sampling error, Sampling with & without Assignment-4
&15 replacement, Central limit theorem Probability sampling & Quiz-5
– (Simple random sample, Systematic random sample,
Stratified random sample, Cluster sample), Sampling
distribution of means, Standard error, Determination of
Sample Size
Final Examination: 50 marks; Time: 2.5 hrs; Any five questions out of seven to be answered.
Each question will carry 10 marks. There may be two/ three parts in each question

Facilities required for teaching and learning

White board, Marker, Laptop, and Multi -Media projector.
Delivery methods & activities Assessment tools

Lecture, White Board Writing, Power point Class Attendance, Class test, Quizzes/
Presentation, Assignment, Mid-Term and Final Exam.
Q/A, Class discussion

Method Marks%
Continuous Assignment +Quiz/ Class Test 10
Internal Class Attendance 10
Evaluation Mid-term examination 30
(CIE)
Semester End Examination (SEE) 50
Total 100

List of References
Text Book Anderson, D. R., Sweeney, D. J., & Williams, T. A. (2011)Statistics for Business
and Economics, 11th Edition, South-Western Cengage Learning

Reference Book James T. McClave, P. George Benson and Terry T Sincich (2012) Statistics
for Business and Economics

Reference Book Gupta, S. P., &Gupta, M. P. (2010), Business statistics. Sultan Chand &
Sons, India
Reference Book Schiller, J., Spiegel, M., &Srinivasan, R. A., (2012), Schaum's Outline of
Probability and Statistics: 760 Solved Problem. McGraw Hill Professional,
USA

Prepared by
Dr. M. Musa Khan
Associate Professor
DEB, IIUC