EXC 2904 Statistics
APPLIES TO ACADEMIC YEAR 2014/2015

EXC 2904 Statistics
Responsible for the course
Svein Lund
Department
Department of Economics
Term
According to study plan
ECTS Credits
7,5
Language of instruction
English
Introduction
This course gives an introduction to statistics. Main themes are descriptive statistics, probability and hypothesis testing. Formulas and formal procedures play an important role, but the emphasis is on developing statistical literacy and critical thinking.
Learning outcome
Acquired knowledge:
 To understand the relevance of statistical analysis in economics and marketing
 Knowledge of basic concepts and overview of statistics
 Understanding the difference between a population and a sample
 Understanding what a random variable and a statistical model is
 Understanding that statistical methods are based on assumptions that must be checked
 Understanding what estimation and hypothesis testing is about
 To be able to reflect on the role of randomness
 To be acquainted with the statistical and mathematical notations used in statistics
Acquired skills:
 To be able to discern randomness from real underlying effects
 To be able to use statistical software and interpret computer displays from such software
 To be able to produce statistical graphics
 To be able to compute probabilities and confidence intervals
 To be able to conduct the most basic types of hypothesis testing and estimation
Reflection:
 To understand that statistical methods can be wrongly applied and lead to false conclusions
 To understand that in many situations a statistical analysis will help making better decisions
Prerequisites
No particular prerequisites.
Compulsory reading
Books:
Sharpe, Norean R., Richard D. De Veaux, Paul F. Velleman. 2015. Business statistics. 3rd ed., Global ed. Pearson
Recommended reading
Course outline
 Graphical and descriptive statistics
 Random samples and populations
 Discrete and continuous random variables
 Probability
 Statistical models
 Estimation
 Confidence intervals
 Hypothesis testing
 Correlation and regression
 Chi square tests
Computerbased tools
The course uses modern statistical software (SAS JMP). It's Learning/homepage.
Learning process and workload
There are 48 course hours, 38 of which are ordinary lectures where the syllabus is covered. The remaining 10 hours will be dedicated to SAS JMP demonstrations in class.
For each week there will be given a work programme with literature references and exercises. In the lectures the theory will be exemplified by a set of SAS JMP data samples with exercises. The final exam is loosely based on these SAS JMP examples.
Work requirements:
There are 8 mandatory multiple choice tests to be answered in It's Learning.
If a test is not approved in the first try, the student can retry. It is mandatory that the student get approved at least 5 of these tests in order to take the final exam.
The students' workload in hours:
Activity  Use of hours 
Lectures and SAS JMP demos  48 
Multiplechoice tests on Blackboard  50 
SPSS work  42 
Textbook study  40 
Preparing for the final exam  20 
Total recommended use of hours  200 
Coursework requirements
It is mandatory that the student must get approved at least 5 of 8 tests in order to take the final exam.
Examination
A fivehour individual written examination concludes the course.
Examination code(s)
EXC 29041  Written exam, counts for 100% towards the final grade in EXC 2904 Statistics, 7,5 credits.
Examination support materials
All aids + calculator TEXAS INSTRUMENTS BA II Plus™ are permitted.
Examination support materials at written examiniations are explained under examination information in the student portal @BI. Please note use of calculator and dictionary. https://at.bi.no/EN/Pages/Exa_Hjelpemidlertileksamen.aspx
Resit examination
A resit (written examinations) is only possible at the next time the course is offered.
Multiplechoice tests (work requirements) are only possible the next time the course is offered.
Students that have not passed the written examination or who wish to improve their grade must retake the exam in connection with the next scheduled examination.
Additional information
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