Probability: basic concept: approaches: theorems, addition, multiplication conditional and
Bayes: business applications of probability.
Probability distributions: random variable, expected value of random variables Binomial
distribution: Poisson distribution, Normal distribution and Exponential distribution.
Statistical quality control: basic concepts: product control: process control: variations in quality:
control charts” types of control charts – mean charts, range charts – P-chart, np chart, C
charts, applications and control charts.
Correlation and regression: Simple, partial and multiple correlation: regression analysis:
business application of correlation and regression.
Statistical inference: Basic concepts: standard error: central limit theorem. Large sample tests,
small sample tests: tests for means: tests for proportions: tests for paired observations: Nonparametric
tests – Chi-square test, sign test, Wilcoxon Signed Rank test, Krushkal Wallis test,
Waid – Wolfwitz test; analysis variance.