Basic Statistics

Description

"This text for college and university students of economics details the methodology for condensing, presenting and analyzing observations on a single random variable. The main focus is on the frequency distribution of a random variable and its important properties. The notion of joint distribution of two random variables and the concepts of marginal and conditional distributions are also dealt with. A detailed discussion of the theory of regression and correlation of two variables is provided, and later extended to the multivariate case. The authors introduce the concepts of probability and discuss three important probability distributions: Normal, Binomial and Poisson. This is followed by a discussion of sampling, sampling distributions and testing of hypotheses, including commonly used small sample tests. The problems of index numbers and their economic interpretations form part of the book’s subject matter. The methodology of analyzing a single time series is also detailed. Finally, there is an extensive discussion on the measurement of economic inequality. "