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2015/2016  BA-BHAAI1001U  Basic Statistics for Business and Economics

English Title
Basic Statistics for Business and Economics

Course information
Language English
Course ECTS 7.5 ECTS
Type Elective
Level Bachelor
Duration Summer
Start time of the course Summer
Timetable Course schedule will be posted at calendar.cbs.dk
Max. participants 140
Study board
Study Board for BSc in Economics and Business Administration
Course coordinator
  • Course instructor - Rene Leo E. Ordonez, PhD Professor and Coordinator of the Graduate Programs in Business School of Business, ordonez@sou.edu
    Sven Bislev - Department of Intercultural Communication and Management (ICM)
In case of any academic questions related to the course, please contact the course instructor or the academic director, Sven Bislev at sb.ikl@cbs.dk
Main academic disciplines
  • Mathematics
  • Statistics and quantitative methods
  • Economics
Last updated on 09-06-2016
Learning objectives
To achieve the grade 12, students should meet the following learning objectives with no or only minor mistakes or errors: Upon the successful completion of this course, a student should be able to:
  • Have a broad comprehension of terms, concepts, theories, and processes to solve statistical problems and situations
  • Demonstrate ability to identify the appropriate statistical technique for analysis of data.
  • Demonstrate understanding of the usefulness and application of statistical methods in various decision making situations in business and economics.
  • Apply what has been learned to the solution of practical problems in the business and economics areas through the development, evaluation, and selection of alternative statistical techniques.
  • Demonstrate skill in using a computer application (e.g., Excel 2013) for data analysis.
Course prerequisites
Basic algebra and working knowledge of Excel
Examination
Basic statistics for business and economics:
Exam ECTS 7,5
Examination form Written sit-in exam
Individual or group exam Individual
Assignment type Written assignment
Duration 4 hours
Grading scale 7-step scale
Examiner(s) One internal examiner
Exam period Summer, Ordinary exam: 1-5 August 2016
Retake exam: Within two months from the ordinary exam.
Aids allowed to bring to the exam Open book: all written and electronic aids, including internet access
Make-up exam/re-exam
Same examination form as the ordinary exam
If the number of registered candidates for the make-up examination/re-take examination warrants that it may most appropriately be held as an oral examination, the programme office will inform the students that the make-up examination/re-take examination will be held as an oral examination instead.
a 4 hour written sit-in exam, new exam question
Course content and structure

 

This is a beginning statistics course with special focus on the practical application of basic statistical concepts to business and economics problems. The importance of understanding probability and probability distributions and their application in the decision-making processes in business and economics will be explored. The course will also expose and teach students the basics and the applications of inferential statistics (e.g. hypothesis testing and confidence interval estimation), and bivariate analysis in business and economics. 

 

This is a beginning statistics course with special focus on the practical application of basic statistical concepts to business and economics problems. The importance of understanding probability and probability distributions and their application in the decision-making processes in business and economics will be explored. The course will also expose and teach students the basics and the applications of inferential statistics (e.g. hypothesis testing and confidence interval estimation), and bivariate analysis in business and economics. 

 

Class 1: Introduction and Overview of Course Numerical and graphical                                       representation of data 

Class 2: Introduction to probability

Class 3: Discrete probability distributions

Class 4: Continuous probability distributions

Class 5: Sampling distributions and the Central Limit Theorem

Class 6: In-class review quiz via Learn - Discussion to follow feedback activity:

                see Class 6 above

Class 7: Confidence interval estimation for one population mean and proportion
Class 8: One sample tests

Class 9: Two sample tests

Class 10: Analysis of Variance (ANOVA)

Class 11: Comprehensive Review

 

 

 

 

 
Teaching methods
Essentially, the learning environment will follow the Confucian learning philosophy: “Tell Me and I Will Forget; Show Me and I May Remember; Involve Me and I Will Understand”
The course will be a combination of lectures and situational problem solving. 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, 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 assigned textbook problems are not for submission.
An Excel-based statistical templates developed by the instructor will be used as a class supplement. Press CTRL+Enter on the link below to open and review the contents of the template.
https:/​/​dl.dropboxusercontent.com/​u/​24718649/​BA%20282/​Interactive_Statistical_Excel_Templates_for_Applied_Business_Statistics%20-%20Fall%202014%20Edition.xlsm
Digitized lectures (e.g. digitally recorded computer-based lectures and demos) will also be made available to students to further enhance learning. The link to these videos will be made available in Learn. Below are links to sample video supplements to the class. Press CTRL+Click to view a video.
 
Recorded ISUP 2012 Class Session:
https:/​/​dl.dropboxusercontent.com/​u/​24718649/​ISUP%202012/​HA_HU8s%20Basic%20Statistics/​Basic%20Stat%20Week%201%20Session%201/​Basic%20Stat%20Week%201%20Session%201.html
Prepared Guided Examples for Textbook Created by Dr. Ordonez:
https:/​/​dl.dropboxusercontent.com/​u/​24718649/​Lind15th%20Supplement%20Materials/​Edited%20Recordings/​Chapter%2011%20Revised%20Videos/​Exercise%2011-50/​Exercise%2011-50.html
Student workload
Preliminary assignment 10 hours
Classroom attendance 33 hours
Preparation 144 hours
Feedback activity 7 hours
Examination 12 hours
Further Information

 

Preliminary Assignment: To help students get maximum value from ISUP courses, instructors provide a reading or a small number of readings or video clips to be read or viewed before the start of classes with a related task scheduled for class 1 in order to 'jump-start' the learning process.

 

Feedback Activity: A feedback activitity defined by the course instructor will take place app. half-way through the course. 
 

 

The timetable is available on  http://www.cbs.dk/files/cbs.dk/isup_timetable_2016_updated.pdf
Expected literature

PRIMARY LITERATURE (MUST-HAVE BOOKS):

Lind, Machal, Wathen: Statistical Techniques in Business and Economics, Lind et al.

ISBN-13: 9780077639709

McGraw-Hill, 16th Edition, 2014
Last updated on 09-06-2016