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In this course, you are expected to acquire skills in collection, organisation and presentation of quantitative and qualitative information pertaining to various simple economic aspects systematically. It also intends to provide some basic statistical tools to analyse, and interpret any economic information and draw appropriate inferences. In this process, you are expected to understand the behaviour of various economic data.
Meaning and types of variables; Frequency Distribution.
Tabular Presentation and Diagrammatic Presentation of Data:
(i) Geometric forms (bar diagrams and pie diagrams)
(ii) Frequency diagrams (histogram, polygon and ogive)
(iii) Arithmetic line graphs (time series graph).
mean (simple and weighted), median and mode
absolute dispersion (range, quartile deviation, mean deviation and standard deviation); relative dispersion (co-efficient of quartile-deviation, co-efficient of mean deviation, co-efficient of variation); Lorenz Curve: Meaning and its application.
meaning, scatter diagram; Measures of correlation - Karl Pearson's method (two variables ungrouped data) Spearman's rank correlation.
meaning, types - wholesale price index, consumer price index and index of industrial production, uses of index numbers; Inflation and index numbers.