Objective :
To enable the students to have such minimum knowledge of Mathematics & Statistics as is applicable to business and economic situations.
Unit - 1 Differentiation : 16%
Definition of derivative of a function f(x); Derivatives by definition; Derivatives of functions of the type xn, ex, ax and loge x; Rules of differentiation (without proof); Derivatives of composite and implicit functions, logarithmic differentiation ; Maxima and Minima; Cases of one variable involving second or higher order derivatives.
Unit - 2 Collection of Data & Sampling Methods : 16%
Primary & Secondary Data, Methods of collecting primary data - Direct personal observation, Indirect oral interview, Information through agencies, Mailed questionnaires, Schedules sent through enumerators. Sources of secondary data; Precautions in the use of Secondary Data. Framing a questionnaire.
Concepts of
population and sample, advantages of sampling, Methods of Sampling - Simple
Random Sampling,
Stratified Random Sampling, Systematic Sampling (only description of these
methods); Drawing of all possible
random samples of a given size 2 from a population (with or without replacement)
up to the size of 5.
Unit - 3 Analysis of Univeriate Data : 17%
Construction of a frequency distribution. Concepts of central tendency and dispersion - and their measures; Relative measures of dispersion.
Unit - 4
(A) Compound Interest and Annuities : 8%
Certain different types of interest rates; Concept of present value and amount of a sum; Annuities; Present value and amount of an annuity, including the case of continuous compounding, Valuation of simple loans and debentures; Problems relating to sinking funds.
(B) Permutation and Combination : 9%
Basic
concepts of permutation and combination and simple illustrations of these
concepts for different and like
things; Formulae for nPr & ncr;
Establishment of simple relations like.
nCr + nCr-1 = n+1Cr,
r(nCr) = n(n-1Cr-1)
Unit - 5 Theory of Probability : 17%
Probability as a concept; The three approaches - Classical approach, Empirical approach, Axiomatic approach - to defining probability; Random Experiment, Sample point and Sample space, definition of an event, operation of events, mutually exclusive, exhaustive and independent events; Addition and multiplication laws of probability; Conditional Probability; Bayes' Theorem and its application.
Unit - 6 Mathematical Expectation : 17%
Concept of a Discrete random variable; Probability mass function of discrete random variable and its properties; Definition of mathematical expectation of a discrete random variable. Expectation of sum of two variables and product of two independent variables.
Mean, Variance, Co-variance, Uncorrelated ness and Independence of two random variable.
Reference Books :
1. Dowling, E.T.
: Mathematics for Economics; Schaum Series, McGraw Hill, London.
2. Vohra, N.D. : Quantitative Techniques in Management; Tata McGraw Hill, New
Delhi.
3. Soni, R.S. : Business Mathematics; Pitamber Publishing House.
4. Kapoor, V.K.: Business Mathematics; Sultan Chand & Sons, Delhi.
5. R.S.N. Pillai & Mrs. V. Bagavathi : Statistics, Sultan
Chand & Sons, Delhi.
6. Hooda, R.P.: Statistics for Business and Economics; Macmillan, New Delhi.
7. Levin and Rubin : Statistics for Management, Prentice Hall of India, New
Delhi.
8. Probability and Statistics by M.R. Spiegel.
9. Statistical methods by S.P. Gupta.
10. Fundamentals of Statistics by D.N. Elhance.
Structure of Question Paper (Total Marks - 70, Time : 3 Hours)
1. The syllabus
of the question paper is divided into six units.
2. There must be two question from each unit, which are internally optional.
3. A question paper should be set in such a manner that it covers the whole
syllabus.
4. Each question must carry at least two sub questions. Out of these sub
questions at least one should be theoretical
and other sub question (s) should be the example (s).
5. The question paper should give 30% to 35% and 65% to 70% weightage to theory
and examples respectively.
