Basic Mathematics and Statistical Techniques for Data Analysis

Paper Code: 
BAC 231
Credits: 
2
Contact Hours: 
30.00
Max. Marks: 
100.00
Objective: 

Students will learn basic mathematical and statistical concepts. This foundation will help them in understanding analytical procedures used in Data /Business Analytics.

6.00
Unit I: 
Matrices and Determinants

Matrices and Determinants: Definition of a Matrix, Addition & Subtraction of Matrices Multiplication of Matrices, Transpose of a Matrix, Determinants, Determinants of order one and more, Properties of Determinants, Multiplication of two Determinants, Minors and Cofactors System of linear equations, Inverse of a Matrix, Cramer's rule for solution of linear equations, Adjoint of a Matrix, Rank of a Matrix.

6.00
Unit II: 
Statistics

Statistics: Introduction to Statistics, Scale of Measurement, Nominal, Ordinal, Interval & Ratio. Frequency Distribution, Histogram, Frequency Polygon, Ogive, Measure of Central Tendency: Mean, Median & Mode, Properties, Advantages and Disadvantages. Measure of Dispersion: Range, Interquartile Range, Standard Deviation, Quartiles, Deciles, Percentiles.

6.00
Unit III: 
Probability

Probability : Introduction to Probability, Types of probability , Experiment, Sample Space Random Experiment, Event, Conditional Probability, General Rule of Addition (without proof), General Rule of Multiplication (without proof), Concept of Baye's Theorem. 

Probability Distribution  

Discrete Probability Distributions: Binomial, Poisson, Continuous Probability Distribution, Normal Distribution, Central Limit Theorem & t-distribution,.

6.00
Unit IV: 
Statistical Inference and Hypothesis Testing

Statistical Inference and Hypothesis Testing

Population and Sample, Null and Alternate Hypothesis, Level of Significance, Type I and Type II Errors, Confidence Intervals, Sampling Distribution : application of t test(single mean independent two mean, paired) , Chi Square Test (goodness of fit, independence of attributes) , F test. large sample test : One Sample Proportion Test, Two Sample Proportion Tests, Analysis of Variance.

6.00
Unit V: 
Correlation and Regression (Theoretical Concepts and Inferences)

Correlation and Regression (Theoretical Concepts and Inferences)

Analysis of Relationship, Positive and Negative Correlation, Perfect Correlation, Correlation Matrix, Scatter Plots, Simple Linear Regression, R Square, Adjusted R Square, Testing of Slope, Standard Error of Estimate, Assumptions of Linear Regression, Multiple Regression, Coefficients of Partial Determination, Durbin Watson Statistics, Variance Inflation Factor.

Essential Readings: 
  1. Sancheti Kapoor, S Chand , “Business Mathematics “
  2. Zameeruddin, Khanna & Bhambri, “Business Mathematics “,Vikas Publishing
  3. Mittal, Satyaprasad & Rao,  “Mathematics and Statistics for Management”, Himalaya Publication
  4. Naval Bajpai ,”Business Statistics” Pearson Publications
  5. Ken Black ,”Business Statistics”, Wiley
Academic Year: