Statistical Methods for Economics

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Statistical Methods for Economics

Unit-IV

Probability and Hypothesis Testing: Probability: Concept, Rules of Probability (Addition and Multiplication); Random variables; Mathematical Expectations, Theoretical distributions: Binomial, Poisson and Normal - their properties and uses, Hypothesis Testing: z, t and Chi-square tests.

  1. Concept of Probability
  2. Compound Events and Related Concepts
  3. Odds
  4. Approaches to find Probability
  5. Numerical Problems - Probability
  6. Rules of Probability
  7. Random Variable
  8. Mathematical Expectation (Expected Value)
  9. Theoretical Distribution
  10. Properties of Binomial Distribution (Proof)
  11. Properties of Poisson Distribution (Proof)
  12. Hypothesis Testing
  13. Numerical Problems - Hypothesis Testing (Z-Test)
  14. Numerical Problems - Hypothesis Testing (t-Test)
  15. Numerical Problems - Hypothesis Testing (Chi-Square Test for a Single Variance or Standard Deviation).

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