Econ 207: Business StatisticsDr. Saleheen Khan
Department of Economics Office: 121 Morris Hall
MinnesotaStateUniversity Phone: 389 2711
Spring 2003 e-mail:
COURSE OBJECTIVES:
This course provides an introduction to theoretical and applied statistics for business and economics. The main objective is to stress the importance of applying statistical analysis to the solution of common business problems. Every opportunity is utilized to demonstrate the manner in which statistics can effectively facilitate the many decisions that business managers face on an almost daily basis.
The general objective of this course is to prepare the students with skills to:
(i)Develop proper understanding of conceptual framework needed for statistical analysis,
(ii)Develop sound quantitative foundation for statistical analysis,
(iii)Solve business related problems using appropriate statistical tools, and
(iv)Use regression technique for modeling and forecasting.
Upon completion of this course, you should be able to:
- Understand the vocabulary and methodological issues associated with presentation and analysis of data.
- Understand single number summary for data sets, e.g., measure of central tendency/dispersion and their use.
- Understand probability theory and probability distribution.
- Learn the properties of sampling distribution
- Make point and interval estimates for population means and proportion; and determine the sample size
- Perform tests of hypothesis about population means and proportions.
- Develop a model of your own using simple linear correlation and regression techniques.
TEXTBOOK
- Statistics for Business and Economics (eighth edition), Anderson, Sweeney, and Williams (required)
- Workbook ( optional, but highly recommended)
HOMEWORK
Homework will be assigned regularly. Students are recommended to make a study group (each consists of 3 to 4 students) and are strongly encouraged to study together to solve homework problems. Practice is the key to be successful in taking a statistics course. Solution to the selected homework problems will be discussed in the class. You will also learn and use statistical software, SPSS, to compute statistical measures.
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EXAMINATION AND QUIZZES
Six quizzes, two mid-term exams and a comprehensive final exam will be given in class during the semester. Exams and quizzes will consist primarily of statistical problems. A calculator will be necessary for computations.
REVIEW WORKSHEETS
A review worksheet will be assigned before every major exam. You should attempt to solve all the problems in the review worksheet. It will prepare you for the exam. Review worksheets will be collected and graded.
GRADING POLICY
The total number of possible points in the course is 500.
Quizzes: 60 pts
Review worksheets: 30 pts
First mid-term: 100 pts
Second mid-term: 100 pts
Final Exam : 150 pts
Class participation and attendance: 10 pts
Computer Assignments: 50 pts
MAKE-UP POLICY
There will be no make-ups for missed quizzesregardless of reason. Please do not request me for such. Late assignments will not be accepted. Make-up exam may be given under extreme circumstances. You need to show an official, written university excuse to get that opportunity. For those with an official excuse, a single comprehensive make-up will be given during the last week of the scheduled class. Any student fail to follow this policy will receive an automatic zero for the missed exam(s).
OFFICE HOURS
My office hours are M – R: 12 – 2 or by appointment. I strongly encourage you to stop by my office to discuss your progress.
COURSE WEBPAGE:
A course website has been built. I have posted review for the exams and practice exams. I plan to pose more material related to the course. The website has the following URL:
SPECIAL NOTE
Every attempt will be made to accommodate qualified students with disabilities. If
you are a student with a documented disability, please see me as early in the
semester as possible to discuss the necessary accommodations, and or contact the Disabilities Services Office at (507)-389-2825 or 1-800-627-3529(MRS/TTY"
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ASSIGNED PROBLEMS
1. Introduction
Chapter 1: 5, 6, 8, 13, 22
2. Descriptive Statistics
Chapter 2: 4, 15, 20, 25, 30, 39
Chapter 3: 6, 7, 13, 19, 23, 27, 29, 31, 35, 36, 49, 56, 58
3. Introduction to Probability
Chapter 4: 2, 4, 10, 16, 19, 23, 26, 29, 30, 33, 36, 53
4. Probability Distribution
Chapter 5: 8, 11, 16, 21, 26, 29, 30, 33, 38, 40, 43, 48, 51, 53, 57, 58, 64, 65
Chapter 6: 2, 6, 9, 10, 15, 19, 21, 23, 34, 39
5. Sampling Distribution
Chapter 7: 1, 11, 14, 18, 19, 20, 27, 28, 29, 33, 34, 41, 42, 56
6. Interval Estimation
Chapter 8: 2, 6, 15, 18, 20, 27, 30, 31, 33, 34, 35, 60
7. Hypothesis Testing
Chapter 9: 16, 17, 27, 37, 42, 46, 47, 49
Chapter 10: 11, 12, 16, 17, 20, 30, 31, 36, 47
8. Tests of Goodness of Fit
Chapter 12: 3, 5, 9, 12, 27, 31
9. Analysis of Variance
Chapter 13: 1, 2, 8, 11, 15, 26
10. Regression Analysis
Chapter 14: 1, 2, 4, 9, 15, 16, 18, 23, 24, 26, 45
Chapter 15: 2, 5, 7, 15, 20, 23, 33, 34
** Please read the lecture notes, textbook chapters, and other supplementary materials regularly as we proceed through the semester.
Tentative Course Schedule: Dates may change depending on how we progress in the class
Dates / Note / Materials to be coveredJan 13-17 / Introduction to course
Chapter 1: data and statistics
Chapter 2: Descriptive Statistics : Tabular and Graphical methods
Jan 20- 24 / Quiz I / Chapter 2: Continued
Chapter 3: Descriptive Statistics: Numerical Method
Homework Ch 1 -3
Jan 27 - 31 / Chapter 4: Introduction to Probability
Feb 3-7 / Quiz II / Chapter 4: Continued
Homework Ch 4
Review for Exam I (Download from the class website)
Feb 10-14 / Exam I
(covering Ch 1-4) / Review Session: Exam I
Exam I (Tuesday)
Chapter8: Discrete Probability Distribution
Return Exam I
Feb 17-21 / Chapter 5: Continued
Chapter 6: Continuous Probability Distribution
Homework Ch 5
Feb 24-28 / Quiz III / Chapter Continued
Homework Ch 6
Mar 3 -7 / Chapter 7: Sampling and Sampling Distributions
Homework Ch 7
Chapter 8: Interval estimation
Review for Exam II (Download from the course website)
Mar 10-14 / Spring Break
Mar 17 -21 / Quiz IV / Chapter 8: Interval Estimation
Homework Ch 8
Review Session for Exam II
Mar 24-28 / EXAM II / Exam II(Monday)
Chapter 9: Hypothesis Testing(One Population)
Return Exam II
Mar 31-Apr 4 / Quiz V / Homework Ch 9
Chapter 10: Hypothesis Testing(Two Populations)
Homework Ch 10
Apr 7-11 / Chapter 14: Simple Linear Regression
Apr 14-18 / Quiz VI / Chapter 14: Continued
Homework Chapter 14
Apr 21-25 / Chapter 15: Multiple Regression
Homework Ch 15
Review Worksheet for Final Exam (Download from course website)
April 28-May 2 / Chapter 15: Continued
Review Session for the Final Exam
Comprehensive Final (Emphasis Ch 4 -15)
Check Calendar for Finals Date
Make up Exam(comprehensive; covering Ch 4-10): May 1.