MET 0190 Statistics
MET 0190 Statistics
This course gives an introduction to basic probability and basic classic statistics. Probability is a tool used in many contexts that student will encounter later in their studies and working lives. Methods from probability are used to analyze risk and uncertainty in finance and economics. In this course, the probability is used for statistics. The course gives a short introduction to basic descriptive statistics. In addition, a thorough introduction is given to classic statistical inference, methods that are used to describe uncertainty in the conclusions from statistical analyses. As part of the classical statistics, an introduction to regression analysis is also included in the course.
Please note!
Due to the Corona situation, BI Norwegian Business School has decided that the exam in this course will be changed in the spring of 2020. The course this spring will be evaluated with a home exam which counts 100%. This will be assessed as pass / fail. No one will get a letter grade.
All students who have registered for the exam in this course in spring 2020 will be registered for this new course and exam code. This also applies to re-sit students.
Re-sit students who prefer to re-sit for the original exam codes, will be able to do so in the fall of 2020, provided the Corona situation is under control. The spring exam will not count as an exam attempt, and will also be free of charge for students. No continuation exam will be offered for this spring's home exam.
After completing the learning process described in this course description, students will:
- Know basic terms from probability, like «random variabel», «expectation», «variance», «probability distribution», «statistical independence» and «conditional probability.
- Know basic models for discrete and continuous random variables, like the normal distribution, the binomial distribution and the Poisson distribution.
- Know basic terms from classic statistics, like «estimator», «null hypothesis», «two-sided test», «p-value» and «confidence interval».
- Know basic methods for describing the relationship between two variables, like «scatter plot», «covariance» and «regression analysis».
After completing the learning process described in this course description, students will:
- Be able to apply standard methods, graphical and tabular, for describing a sample or dataset.
- Be able to apply basic rules from probabiity for solving simple problems, in particular related to card games, dice games, draws from small samples etc.
- Be able to perform one-sided and two-sided hypothesis tests for hypothesis about the population mean when the populastion variance is known or unknown, and in addition the case where we study a population share – based on random samples.
- Be able to construct confidence intervals for population means, population shares and population variances based on random samples.
- Be able to perform simple regression analyses to describe the relationship between two variables, including hypothesis tests or confidence intervals.
At the end of the course, the students will have aquired an understanding of the importance of why and how we reach different techniques and formulas in statistics, in addition to being able to apply the formulas.
- Probability calculus
- Random variables
- Standard probability models
- Descriptive statistics
- Estimation and hypothesis testing
- Analysis of the relationship between variables
To each lecture there will be exercises and reading assignments. The student must gain knowledge from the material presented in the reading assignments and work through the exercises. The exam will require that the student has solved the exercises during the semester. Feedback will be given by sample solutions and presentations.
Higher Education Entrance Qualification.
Basic skills in mathematics and statistics equivalent to admission requirements for the program.
| Assessments |
|---|
Exam category: Submission Form of assessment: Written submission Weight: 100 Grouping: Individual Duration: 4 Hour(s) Exam code: MET01901 Grading scale: ECTS |
| Activity | Duration | Comment |
|---|---|---|
Teaching | 54 Hour(s) | |
Group work / Assignments | 96 Hour(s) | |
Student's own work with learning resources | 40 Hour(s) | |
Examination | 10 Hour(s) | Exam incl. preparation |
A course of 1 ECTS credit corresponds to a workload of 26-30 hours. Therefore a course of 7,5 ECTS credit corresponds to a workload of at least 200 hours.