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2018/2019  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 120
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, Southern Oregon University, ordonez@sou.edu
    Sven Bislev - Department of Management, Society and Communication (MSC)
In case of any academic questions related to the course, please contact the course instructor or ISUP academic director, Sven Bislev at sb.msc@cbs.dk
Main academic disciplines
  • Management
  • Statistics and quantitative methods
  • Economics
Teaching methods
  • Face-to-face teaching
Last updated on 05/12/2018

Relevant links

Learning objectives
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 2016) for data analysis
  • Design and deploy surveys via Qualtrics and generate basic statistical summaries using Qualtrics
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 on CBS' computers
Individual or group exam Individual exam
Assignment type Written assignment
Duration 4 hours
Grading scale 7-step scale
Examiner(s) One internal examiner
Exam period Summer, Ordinary exam: 4 hour written exam in the period of 30 July - 2 August 2019
Retake exam: 4 hour written exams in the period of 1-7 October 2019
3rd attempt (2nd retake) exam: 72-hour home assignment- 25-28 November 2019 – for all ISUP courses simultaneously

Exam schedules available on https:/​/​www.cbs.dk/​uddannelse/​international-summer-university-programme-isup/​courses-and-exams
Aids Open book: all written and electronic aids, including internet access
Read more here about which exam aids the students are allowed to bring and will be given access to : Exam aids and IT application package
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.
Retake exam: 4 hour written sit-in exam, new exam question
Exam form for 3rd attempt (2nd retake): 72-hour home project assignment, max. 10 pages.
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). 

 

Preliminary assignment - Prior to the first meeting in June, students are expected to have viewed the following video introductions:

IMPORTANT NOTE: USE INTERNET EXPLORER BROWSER TO VIEW THE VIDEOS TO AVOID TECHNICAL ISSUES

Introduction
http://highered.mcgraw-hill.com/sites/0073401765/student_view0/chapter1/narrated_slides.html

Describing Data-Visuals
http://highered.mheducation.com/sites/0073401765/student_view0/chapter2/narrated_slides.html

Describing Data-Numerical Measures
http://highered.mheducation.com/sites/0073401765/student_view0/chapter3/narrated_slides.html

Class 1: Introduction and Overview of the 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
Homework midterm assessment (review) quiz via Learn.

Class 6: Confidence interval estimation for one population 
mean and proportion. 

Class 7:Hypothesis Testing Concepts, One sample tests

Class 8: Two sample tests

Class 9: Analysis of Variance (ANOVA)

Class 10: Introduction to Qualtrics, a Web-based survey application.

Class 11: Qualtrics application and review.

Description of the teaching methods
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.

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.

http:/​/​webpages.sou.edu/​~ordonez/​Lind17%20Final%20GEs/​Problem%202.40/​Problem%202.40.html
http:/​/​webpages.sou.edu/​~ordonez/​Lind15thEdition/​Edited%20Recordings/​Exercise%203.77/​Exercise%203.77.html
Feedback during the teaching period
A midterm assessment (voluntary but highly recommended) in the form of an objective quiz will be administered via Learn. The format of the assessment will be similar to the format of the 4-hour Ordinary Exam administered at the end of the course. Questions in the quiz will cover concepts, definition of terms, and problem solving based on the lessons covered during the first 5 sessions. The questions will be presented in multiple choice format along with fill-in-the blanks (particularly in problem solving scenarios).
Student workload
Preliminary assignment 20 hours
Classroom attendance 33 hours
Preparation 126 hours
Feedback activity 7 hours
Examination 20 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.

 

Course timetable is available on https://www.cbs.dk/uddannelse/international-summer-university-programme-isup/courses-and-exams

 

We reserve the right to cancel the course if we do not get enough applications. This will be communicated on https://www.cbs.dk/uddannelse/international-summer-university-programme-isup/courses-and-exams end February 2019 at the latest.

 

 

Expected literature

Mandatory readings:

 

Statistical Techniques in Business and Economics (16th Ed) International (paperback) Edition by Lind,Marchal,and Wathen
(Chapters 1-12)

Last updated on 05/12/2018