# MET 1190 Statistics APPLIES TO ACADEMIC YEAR 2012/2013

MET 1190 Statistics

Responsible for the course
Jon H Fiva

Department
Department of Economics

Term
According to study plan

ECTS Credits
7,5

Language of instruction
Norwegian

Introduction
The use of abstract mathematical and statistical models to describe and analyze a complex reality has in many areas proved useful. In this course students are introduced to useful and well established methods that are applicable in practice.

Learning outcome
After completing the learning process described in this course description, you will:

Aquried Knowledge
Based on a through understanding of concepts and notions in probability and statistics, the students will understand that statistical techniques and methods are based on assumptions and requirements.

Aquired Skills

• be able to handle and analyze quantitative uncertainty and probability
• be able to model using discrete and continuous stochastic variables, and be capable in handling, analyzing and presenting data related to these with and without using computerized tools
• be able to handle the sample of a population and be capable in methods for statistical inference
• be able to select correct model and test in different situations and be able to conclude from these
• be able to compute with probabilities
• be able to estimate a simple regression model

Reflection
· On completion of the course the students will have developed a critical attitude towards results and the validity of statistical analysis.

Prerequisites
Basic skills in mathematics and statistics equivalent to admission requirements for the program.

Books:
Newbold, Paul. 2012. Statistics for business and economics. 8th ed. Pearson Education

Course outline
1. Descriptive statistics
2. Stochastic experiments and stochastic variables
3. Computation with probabilities, elementary set theory
4. Discrete probability distributions
5. Continuous probability distributions
6. Inference for parameters in discrete probability distributions
7. Inference for parameters in continuous probability distributions
8. Estimation
9. Hypothesis testing
10. Simple linear regression
11. Inference in simple linear regression model
12. Selection of model and methods

Computer-based tools
Excel.

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. Some of the exercises must be solved using Excel. The exam will require that the student has solved the exercises during the semester. Feedback will be given by sample solutions and presentations.

 Activity Use of hours Lectures 54 Work with exercises (and computer-base tools) 96 Reading assignments 40 Preparation for final exam 10 Recommended use of time 200

Examination
A five hour individual exam, concludes the course.

Examination code(s)
MET 11901 - Written exam, counts 100% towards the final grade in MET 1190 Statistics, 7,5 credits.

Examination support materials
All aids + calculator TEXAS INSTRUMENTS BA II Plus™ are allowed.
Students are encouraged to bring solutions to assignments that has been given trough the semester.
Exam aids at written examiniations are explained under exam information in our web-based Student handbook. Please note use of calculator and dictionary. http://www.bi.edu/studenthandbook/examaids

Re-sit examination
Re-sit examination is offered every term.