Correlation Analysis: Introduction, definition, utility, types, properties, and degree of correlation, correlation and causation. Measures of coefficient of correlation; Scatter diagram, Karl Pearson’s methods (Deviation method, Product moment method, Variance-Covariance method), Probable error and Karl Pearson’s method of coefficient of correlation. Spearman’s Rank correlation method ( when ranks are given, when ranks are not given, equal or tied ranks), coefficient of determination.
Regression Analysis: Meaning, definition, utility of regression. Comparison between correlation and regression. Two lines of regression; Regression equation of line Y on X, Regression equation of line X on Y, Properties of regression lines. Relationship between correlation and regression coefficient.
Time Series Analysis: Meaning, definition and utility of time series. Component of time series (Trend, Seasonal variations, Cyclical variations, Irregular variations), Decomposition of time series. Linear trend analysis using freehand method and least square method.