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2012/2013  KAN-CM_SU4G  Applied Statistical Analysis for Business and Economics

English Title
Applied Statistical Analysis for Business and Economics

Course information

Language English
Exam ECTS 7.5 ECTS
Type Elective
Level Full Degree Master
Duration Summer
Course period Summer
NOTE: The course schedule is at the moment ONLY available on www.cbs.dk/summer.
Time Table Please see course schedule at e-Campus
Study board
Study Board for MSc in Economics and Business Administration
Course coordinator
  • Faculty - Rene Leo E. Ordonez, PhD. Professor of Business, Southern Oregon University
    Patricia Plackett - Department of Operations Management
Main Category of the Course
  • Statistics and mathematics
Last updated on 11-06-2012
Learning objectives
Upon the successful completion of this course, a student should be able to:
  • Demonstrate understanding of the nature of statistical relationships between variables, and to explore the concept of causality.
  • Use regression analysis, including simple linear regression, multiple regression and autoregression, in business decision-making and economic analysis.
  • Demonstrate ability to critically read and understand regression and factorial models in business, economic and financial research papers.
  • Demonstrate understanding of fundamental ideas of experimental design, analysis of variance, and factor analysis.
  • Apply time series analysis, as an extension to regression analysis, in forecasting.
  • Demonstrate understanding of the use of index numbers in economic analysis.
  • Utilize computer applications (e.g. Excel and Minitab) in statistical analyses as outlined above.
Basic computer skills – spreadsheet application
Introduction to Statistics (compulsory)
Applied Statistical Analysis for Business and Economics
4-hour written exam:
Type of test Written Exam
Marking scale 7-step scale
Second examiner No second examiner
Exam period Summer Term
Aids Open Book, Written and Electronic Aid is permitted
Duration 4 Hours

Mandatory Feedback Assignment. Submission of assigned class work during the summer session is a requirement for taking the final exam

Course content

This is a higher level statistics course, with focus on the practical application of statistical techniques to business and economics.  The course will be delivered via a combination of lectures, power-point presentations, problem-solving, and case analysis, requiring students to apply common statistical tools (Excel and Minitab) and techniques to business and economics-related decision-making and research analysis situations. Computer-based statistical tools are utilized in tackling problem solving.  Topics that will be covered include:

  • The role of statistics in all aspects of business decision-making process
  • Simple, Multiple Linear Regression, Correlation and Autoregression analysis
  • The Uses of the Chi-square Distribution in research
  • Analysis of Variance (One-way and Two-way ANOVA) and Experimental Designs
  • Time series Analysis and Forecasting
  • Index Numbers

The course’s development of personal competences:
Students in the class will practice and rely upon their technical and quantitative skills to successfully navigate through the course.  As the class will be fast-paced and will be requiring significant outside the classroom activities, e.g. working on weekly problem sets, students must be self-directed and must practice effective time-management.  In the classroom, students are expected to participate in class discussions; they will use and demonstrate their ability to think critically, evaluate a problem, and to explain their answers or position in a logical, clear and concise manner.
Teaching methods
The course will be a combination of lectures, situational problem solving, and case analysis. Lectures will address the concepts and proper procedures for carrying out the various statistical methods covered in the class. This will be followed by application of the concepts and methods to business and economic-related problems. Computer software, mainly Excel and Minitab, will be used in solving statistical problems. Students will be expected to read the assigned material and work on assigned textbook problems outside of class. The cases and problem sets are for submission to the instructor. Completion of the assigned work will allow students to take the final exam.

Excel-based statistical templates developed by the instructor will be used as a class supplement. Digitized lectures (e.g. digitally recorded computer-based lectures and demos) will also be made available to students to further enhance learning. These materials are found on the Web at webpages.sou.edu/~ordonez/BA282Web/Index.htm
Expected literature

Please note change in key book: Lind, Marchal and Wathen: Statistical Techniques in Business and Economics. ISBN 9780073401768. McGraw-Hill. 14th edition-2010
Additional material, developed by the instructor, will be provided to the students prior to the beginning of the summer term.

Last updated on 11-06-2012