Statistics for Business and Economics I

6 ECTS credits
152 u studietijd

Aanbieding 1 met studiegidsnummer 1021458ANR voor alle studenten in het 2e semester met een inleidend bachelor niveau.

Semester

2e semester

Inschrijving onder examencontract

Niet mogelijk

Beoordelingsvoet

Beoordeling (0 tot 20)

2e zittijd mogelijk

Ja

Onderwijstaal

Engels

Faculteit

Faculteit Sociale Wetensch & SolvayBusinessSchool

Verantwoordelijke vakgroep

Toegepaste economie

Onderwijsteam

Luc Hens (titularis)
Nathalie Colpin

Onderdelen en contacturen

0 contacturen Exam
26 contacturen Lecture
26 contacturen Practical exercises
100 contacturen Self study

Inhoud

This course covers descriptive statistics (the art of summarizing data) and introduces the student to inferential statistics (the art of using sample data to make numerical conjectures about problems involving a population). We learn how to display data in tables and charts (frequency tables, histograms, boxplots, time series plots, …); how to describe the shape of data distributions and summarize their center and spread (mean, median, standard deviation, interquartile range, …); and how to display and summarize and interpret the relationship between two variables (scatter plots, correlation, line of best fit). We then learn about the basic elements of probability needed for statistical inference (probability rules, joint and conditional probability, contingency tables, probability trees,…); about random variables (expected value and standard error; probability models). Finally, we study the sampling distributions of proportions and means and use the Central Limit Theorem to construct confidence intervals for population proportions and population means.

Studiemateriaal

Handboek (Vereist) : Business Statistics, Norean R. Sharpe, Richard De Veaux, and Paul Velleman, 3rd edition, Pearson Education, 9781292058696, 2015
Praktisch cursusmateriaal (Vereist) : Syllabus for Statistics for Business and Economics I, Luc Hens, 2021
Praktisch cursusmateriaal (Vereist) : Formula sheet for Statistics for Business and Economics I, Luc Hens, 2021
Digitaal cursusmateriaal (Vereist) : R: A language and environment for statistical computing, R Development Core Team, R Foundation for Statistical Computing
Praktisch cursusmateriaal (Vereist) : Texas Instruments TI-84 Plus CE-T calculator
Digitaal cursusmateriaal (Vereist) : RStudio Desktop (Open Source Edition), RStudio Team, RStudio

Bijkomende info

Not applicable.

Leerresultaten

General competences

This course aims at providing the student with an understanding of descriptive statistics (displaying and describing data) and inferential statistics (making valid generalizations from sample data). At the end of the course, the student is able to:

• distinguish between categorical and quantitative data, and display and describe categorical and quantitative data;
• compute and interpret a coefficient of correlation and the line of best fit;
• apply the rules of probability;
• work with random variables and probability models (binomial model, normal model, …);
• explain the properties of the sampling distribution of a proportion or a mean (and the conditions under which those properties hold);
• find (if appropriate) a confidence interval for a proportion or a mean using data from a large sample, and interpret the meaning of the confidence interval;
• explain the limitations of statistical methods;
• use statistics in an ethical way;
• use statistical software and a scientific calculator to do statistical computations (enter data, generate descriptive statistics and graphs, compute probabilities of normally distributed random variables; compute confidence intervals);
• communicate the results of statistical work; more specifically, write up the results of statistical analysis in a report consisting of a non-technical abstract aimed at decision makers, so that they can improve their decisions, and a main section aimed at peers explaining the technical details and exact interpretation of the results. The report is formatted in APA Style.

Beoordelingsinformatie

De beoordeling bestaat uit volgende opdrachtcategorieën:
Examen Schriftelijk bepaalt 90% van het eindcijfer

Examen Praktijk bepaalt 10% van het eindcijfer

Binnen de categorie Examen Schriftelijk dient men volgende opdrachten af te werken:

• Written Exam met een wegingsfactor 90 en aldus 90% van het totale eindcijfer.
  
  Toelichting: You should bring to the exam: your TI-84 Plus (or TI-84 Plus CE-T) calculator; the laminated formula sheet.

Binnen de categorie Examen Praktijk dient men volgende opdrachten af te werken:

• Paper (group) met een wegingsfactor 10 en aldus 10% van het totale eindcijfer.
  
  Toelichting: The assignment for the paper is available on the learning platform. The due date is in the syllabus (which is also posted on the learning platform)

Aanvullende info mbt evaluatie

A Practical Exam (group paper) and a Written Exam.

The assignment for the group paper is posted on the learning platform. Evaluation is based on contribution to teamwork, the ability to link the economic issues to the course content, writing skills (spelling, grammar, and style), and the ability to respect deadlines. The penalty for late work is 2 points (on a scale from 0 to 20) per workday late. Students who, for a valid and documented reason, cannot participate in the group paper and who report this in writing to the teacher at least two weeks before the due date of the paper, can request an individual assignment.

The exam component "Practical Exam" (group paper) cannot be re-taken in the second exam session. The result for this part of the exam is transferred to the second exam session. Students who are absent for the exam component "Practical Exam (group paper) will get a score of 0 for this component.

The Written Examination usually consists of two parts. In the first part you have to solve one or more problems similar to the ones in the textbook; the second part is a set of multiple-choice questions. When grading the multiple-choice questions we correct for random guessing using the standard setting. During the exam you can use the TI-84 calculator and the laminated formula sheet.

Toegestane onvoldoende

Kijk in het aanvullend OER van je faculteit na of een toegestane onvoldoende mogelijk is voor dit opleidingsonderdeel.

Academische context

Deze aanbieding maakt deel uit van de volgende studieplannen:
Bachelor of Business Economics: Startplan Business Economics (enkel aangeboden in het Engels)
Bachelor of Business Economics: Business and Technology (enkel aangeboden in het Engels)
Bachelor of Business Economics: International Business (enkel aangeboden in het Engels)
Voorbereidingsprogramma Master of Science in International Business: Standaard traject (enkel aangeboden in het Engels)
Voorbereidingsprogramma Master of Science in Business Engineering: Business and Technology: Standaard traject (enkel aangeboden in het Engels)