Descriptive Statistics: Measures of Central Tendency- mean, median, mode, Measures of Dispersion- Standard deviation, variance, Coefficient of Variance.
Correlation and Regression: Scatter Diagram, Karl Pearson correlation, Spearman’s Rank correlation (one way table only), simple and multiple regression (problems on simple regression only)
Probability Distribution: Concept and definition - Rules of probability – Random variables –Concept of probability distribution – Theoretical probability distributions: Binomial, Poisson, Normal and Exponential – Baye’s theorem (No derivation) (Problems only on Binomial, Poisson and Normal).
Decision Theory: Introduction – Steps of decision making process-types of decision making environments-decision making under uncertainty- Decision making under Risk- Decision tree analysis (only Theory)
Linear Programming: structure, advantages, disadvantages, formulation of LPP, solution using Graphical method.
Transportation problem: basic feasible solution using NWCM, LCM, and VAM unbalanced, restricted and maximization problems.
Project Management: Introduction – Basic difference between PERT & CPM – Network components and precedence relationships – Critical path analysis – Project scheduling – Project time-cost trade off – Resource allocation, basic concept of project crashing.