Applied Statistics

Paper Code: 
STT 422(A)
Credits: 
5
Contact Hours: 
75.00
Max. Marks: 
100.00
Objective: 

This course is meant for exposing the students to the concepts of Statistical Quality Control and their applications, index number, and demand analysis.

Students will able to

Course

Learning outcomes (at course level

Learning and teaching strategies

Assessment Strategies

 

Paper Code

Paper Title

STT- 422(A)

 

Applied Statistics

CO 89: In-depth knowledge of theoretical and practical aspects of SQC and understanding of the link between SQC and business analysis.

 

CO 90: How to interpret and use a range of index numbers commonly used and also to understand other indices used in the business sector.

 

CO 91: Learn the basic structure of the Consumer Price Index (CPI) and perform calculations involving its use.

 

CO 92: Demonstrate their ability to apply statistics in other fields at an appropriate level and demonstrate their ability to apply knowledge acquired from their major to real world models.

Approach in teaching:

Interactive Lectures,

Group Discussion,

Classroom Assignment

Problem Solving Sessions

 

Learning activities for the students:

Assignments

Seminar

Presentation

Subject based  Activities

 

Classroom Quiz

Assignments

Class Test

Individual Presentation

 

15.00
Unit I: 
Control-Charts:

Concept and construction of control charts for variables and attributes and their OC Curve. Modified control limits. Acceptance Sampling Plans by Attribute: AQL, AOQL, Producer’s Risk and Consumer Risk. Rectification and their O.C. function, ASN and ATI.

15.00
Unit II: 
UNIT II

Single and double sampling plans and their mathematical analysis. Idea of Standard sampling tables: Dodge and Romig tables. Sampling Inspection Plans for Variables: One sided specification standard (Known and Unknown Cases), two sided specifications (for known standards).

 

15.00
Unit III: 
UNIT III

Multivariate control chart: CUSUM charts, EWMA chart –Use of these charts for prediction. CUSUM, EWMA for controlling process variability. Comparison of these charts with Shewart charts.

 

15.00
Unit IV: 
Process Capability analysis:

Meaning, Estimation technique for capability of a process – Capability Indices: Process capability ratios Cp; Cpk, Cpm, Cmk, Cpc – Process capability analysis using a control chart – Process capability analysis using design of experiments, Gage and measurement system capability studies.

 

15.00
Unit V: 
Index Number:

Meaning and uses, problem in the construction of index numbers, price relatives, quantity and value relatives. Fixed base and chain base index numbers. Laspeyers, Paasche’s, Marshall-Edgeworth and Fisher’s ideal index numbers. Test for index numbers. Base shifting, Construction of cost of living index and Whole-sale price index. Theory and analysis of consumer demand, estimations of demand function. Demand and income elasticity. Income Distributions: Pareto’s law of income distributions. Engle’s curve, curves of concentration.

 

 

Essential Readings: 
  • Cowden, D.J. (1957): Statistical Methods in Quality Control, Prentice Hall of India.
  • Duncan, A.J. (1986): Quality Control and Industrial Statistics, 5th Ed. Irwin Book Co.
  • Gran,t E.L. & Leavenworth, R.S. (1996): Statistical Quality Control, 7th Ed. McGraw Hill.
  • Montgomery, D.C. (2019): Introduction to Statistical Quality Control, 5th Ed. John Wiley.
  • Wetherhil, G.B. (1977): Sampling Inspection and Quality Control, Halsted Press.
  • Biswas, S.(2008): Statistics of Quality Control, New Central Book Agency

 

Academic Year: 
2021-2022
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