- The course will equip students with a more in-depth understanding of basic statistical techniques beyond an introductory level.
- Develop and enhance the use of statistical language in written and oral reports
- Assist in developing student’s confidence in using statistical tools for solving real-world problems
- Assist in developing students quantitative and reasoning skills needed for research and the working world
- Provide a strong statistical foundation which will enable the access of more advanced courses offered by the economics department
On completing this course students will be able to prepare and interpret summary statistics of data, both graphical and numerical. They will gain an understanding of the relationships between basic probability, distribution theory and inferential statistics. Use computer generated output as well as statistical tables to make statistical inferences about data.
Course Outline
1. Review of Introductory Statistics
2. Random Variables and Probability Distributions
3. Sampling Distributions for
Mean
Proportions
Standard Deviations
4. Estimation
Confidence Intervals for the Population:
Mean
Proportion
Standard Deviation
Difference Between Two Means
Difference Between Two Proportions
5. Hypothesis Testing
Hypothesis Tests for the Population:
Mean
Proportion
Standard Deviation
Difference between Two Means
Difference between Two Proportions
Chi Square Goodness of Fit Test
Prescribed Texts
Newbold, Paul, Carlson, William and Thorne, Betty. Statistics for Business and Economics, Prentice-Hall 2003
Lindley D V and Scott WF. New Cambridge Elementary Statistical Tables, Cambridge University Press, 1996
Recommended Texts
J.T. McClave, P.G. Benson and T. Sincich, Statistics for Business and Economics, Prentice Hall.
Course Assessment
The final grade in this course will be bsaed on:
Mid-semester examination: 30%
3 online (OURVLE) quizzes: 5% each
2 graded problem sets: 2.5% each
Final examination: 50%
