Course syllabus - Statistics for Business

Objectives

The course aims to provide the students with the basic statistical concepts and methods for describing and analyzing statistical data, particularly economic data, and for drawing conclusions about the statistical properties of a population from a random sample from that population. To aid the students' understanding of these statistical methods, the course also presents some results from probability theory, such as the basic laws of probability calculations and the properties of some common probability distributions.

Learning outcomes

Upon completion of this course, students should be able to
- express a problem about a data set in statistical terms
- summarize data using statistical measures of location, dispersion and association
- present data in tables and graphically in diagrams and plots
- to use a sample to gain inference about the population from which the sample was taken
- estimate parameters of a population using a sample
- compute confidence intervals for estimated population parameters
- test hypotheses about parameters of a population using a sample
- correctly use basic statistical terminology
- use a standard computer package for statistical calculations

Course content

Topics include populations and samples, the presentation and interpretation of statistical data, measures of central tendency and variability, basic probability theory, the binomial, hypergeometric and normal distributions, the central limit theorem, estimation and hypothesis testing, simple and multiple regression and correlation, time series analyses and forecasting. Statistical software is used to analyze economic data.

Tuition

Lectures combined with exercises and laboratory work teaching the use of statistical software.

Requirements

Studies in Mathematics of 3 years from Upper Secondary School with a Science profile and a TOEFL test result, minimum score 575 with a TWE score of at least 4,5 (PBT) or 90 with a TWE score of at least 20 (iBT)/IELTS test result with an overall band score of minimum 6,5 and no band score below 5,5.

Examination

Written examination (TEN1), 15 credits, marks Pass (G) or Pass with distinction (VG)

A student who has a certificate from MDU regarding a disability has the opportunity to submit a request for supportive measures during written examinations or other forms of examination, in accordance with the Rules and Regulations for Examinations at First-cycle and Second-cycle Level at Mälardalen University (2020/1655). It is the examiner who takes decisions on any supportive measures, based on what kind of certificate is issued, and in that case which measures are to be applied.

Suspicions of attempting to deceive in examinations (cheating) are reported to the Vice-Chancellor, in accordance with the Higher Education Ordinance, and are examined by the University’s Disciplinary Board. If the Disciplinary Board considers the student to be guilty of a disciplinary offence, the Board will take a decision on disciplinary action, which will be a warning or suspension.

Grade

Pass with distinction, Pass, Fail

Interim Regulations and Other Regulations

The course overlaps 15 credits with each of the courses EST001 Statistics for business, EST002 Statistics basic course, STA100 Statistics and quantitative research, STA101 Statistics and quantitative research