MET 3431 Statistics

APPLIES TO ACADEMIC YEAR 2014/2015

MET 3431 Statistics


Responsible for the course
Njål Foldnes

Department
Department of Economics

Term
According to study plan

ECTS Credits
7,5

Language of instruction
Norwegian

Introduction
This is a basic course in statistics. Main themes are descriptive statistics and statistical inference. In addition some emphasis is placed on acquiring basic skills in mathematics.


Learning outcome
Acquired knowledge

  • To see the relevance and use of statistics in marketing and economics
  • To think critically about the application of statistical methods
  • To understand the relation between the population and the sample at hand, and how it is affected by randomness
  • To be aware that statistical methods are based on assumptions that must be checked
  • To understand the underlying ideas behind estimation and hypothesis testing

Acquired skills
  • To be able to handle fractions, functions and graphs; and be able to read the mathematical notation that arises in statistical formulas
  • To know how to use statistical software to produce graphics and numbers; to be able to interpret output from such software
  • To be able to describe data with key statistics and graphical displays
  • To be able to calculate simple probabilities and confidence intervals
  • To know how to conduct tests of hypotheses for the mean and proportion in a population, or for the differences in mean in two populations
  • To be able to do a regression analysis and interpret the result

Reflection
  • The student should also be aware that statistical methods may be easily misused and misinterpreted. It is important that the judgment required for statistical analysis is fair and just.


Prerequisites
None.

Compulsory reading
Books:
Triola, Mario F. 2015. Essentials of statistics (Spesiell pakkeløsning for BI, med følgende vedlegg: Foundation Maths og Chi-Square and Analysis of Variance). 5th ed. Addison-Wesley

Recommended reading
Books:
Ubøe, Jan. 2012. Statistikk for økonomifag. 4. utg. Gyldendal

Course outline
  • Functions and graphs
  • Describing data with measures of centrality and variation, as well as with graphical displays
  • Discrete and continuous random variables
  • Basic probability
  • Estimation
  • Confidence intervals
  • Hypothesis testing
  • Regression
  • Chi-square test

Computer-based tools
SAS JMP is used as a teaching tool.

Learning process and workload
The course consists of 48 hours of lectures, including 10 hours of demonstration of statistical software. The problems studied in class and given as homework assignments will serve as a basis for the final examination.

Work requirement:
In the course of the semester 6 mandatory multiple-choice assignments will be given. These are submitted on It's Learning. Each assignment is assessed as either pass or fail. The student needs at least 4 passes in order to take the final exam.

Outline of workload for a student:
Activity
Use of hours
Lectures
48
It's Learning assignments
50
Working with SAS JMP (or some statistical software)
32
Textbook study
50
Preparation for the examination
20
Total
200


E-learning
The e-learning platform It’s Learning is used by the e-learning centre to administrate the mandatory exercises, and make students able to communicate with each other and the lecturer. Module sessions are carried out at the beginning of the semester and before examinations. The e-learning students are also offered a study guide that is an educational guide to the syllabus.

Outline of workload for a student:

Activity
Use of hours
Lectures
8
It's learning assignments
50
Working with SAS JMP (or some statistical software)
36
Textbook study
86
Preparation for the examination
20
Total
200

    Coursework requirements
    The students must have passed four of the six multiplechoice tests in order to take the exam.

    Examination
    A five hour individual written exam concludes the course.

    Examination code(s)
    MET 34311 Examination that accounts for 100 % of the grade in MET 3431 Statistics, 7,5 ECTS credits..

    Examination support materials
    All support materials and calculator TEXAS INSTRUMENTS BA II Plus™ are allowed.
    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_Hjelpemidler-til-eksamen.aspx

    Re-sit examination
    A re-sit examination is offered every term.
    Students that have not passed five of the mandatory eight multiple-choice assignments must retake the exercises in connection with the next scheduled course and must pass five of the eight submitted multiple-choice assignments. Students that have not passed the written exam can retake the exam in the next semester.

    Additional information

    Semesters

    Translations