1. Understanding the Scattered Nature of the Data. Concept of Fitting a Straight Line or a Curve (of Higher Degree) to the Data. Method of Least Squares (Only the idea is to be imparted. The proof etc. is not expected). Fitting a Straight Line using the Method of Least Squares.

♦ Practical Based on Plotting Scatter Diagram of the Data

♦ Practical Based on Fitting a Straight Line to the Data

2. Bivariate Distribution. The Concept of Correlation. Karl Pearson’s Coefficient of Correlation. Correlation does not Imply Causation. Qualitative Data and Spearman’s Rank Correlation Coefficient

♦ Practical Based on Identifying Univariate and Bivariate Data

♦ Practical Based on finding Karl Pearson’s Coefficient of Correlation

♦ Practical Based on Correlation versus Causation

♦ Practical Based on obtaining Spearman’s Rank Correlation Coefficient

3. Concept of Regression. Obtaining Regression Lines of Both Types (y on x and x on y), Obtaining Mean and Correlation Coefficient from Regression Lines

♦ Practical Based on finding Regression Line from the Data

♦ Practical Based on finding the Point of Intersection of the Regression Lines and verifying that It gives Means of x and y

♦ Practical Based on identifying the Type (x on y or y on x) Regression Lines and estimating the values of y for different values of x, or estimating values of x for different values of y

Students are encouraged to use excel to solve practical problems.

1. Concept and Components of Time Series. Estimation of Trend Using Moving Average Method and Least Squares Method (Only Linear Trend)

♦ Practical Based on Estimation of Trend Using Moving Average Method

2. Concept of Forecasting Using Least Squares Method.

♦ Practical Based on forecasting y value for a given value of x

♦ Practical Based on forecasting x value for a given value of y

3. Concept and Uses of Index Numbers. Simple and Composite Index Nos. (Unweighted, Weighted)

♦ Practical Based on Simple and Composite Index Numbers

4. Laspeyre’s Price Index No., Paasche’s Price Index No. Fisher’s Price Index No., Dorbish-Bowley’s Index Number, Marshall and Edgeworth Index Number

♦ Practical Based on Laspeyre’s Index Number

♦ Practical Based on Paasche’s Index Number

♦ Practical Based on Fisher’s Index Number

♦ Practical Based on Dorbish-Bowley’s Index Number

♦ Practical Based on Marshall and Edgeworth Index Number

5. Cost of Living Index No., Real Income

♦ Practical Based on Cost of Living Index Number

♦ Practical Based on Real Income

Students are encouraged to use excel to solve practical problems.