THE UNIVERSITY OF THE WEST INDIES, MONA
ECON1005: Introductory Statistics
Semester 1, 2012-13
Pre-requisites: CXC Mathematics Grade III (Grade II pre 1998) or O’Level Mathematics
Grade C or A’Level Mathematics or ECON0001 (Remedial Mathematics)
Co-Requisite: ECON1003
Anti-requisites: SOCI1005 (SY16C), MATH2140 (M25A) and MATH2150 (M25B)
Lecturer: Girjanauth Boodraj
Description
The course addresses the techniques employed in the collection, organisation,
presentation, analysis and interpretation of numerical data for making effective decisions
in business, economics, management, and related disciplines. Special emphasis is placed
on the understanding, application and interpretation of concepts.
Learning Outcomes
At the end of the course, the student should be able to:
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describe and explain basic concepts in statistics.
differentiate between descriptive and inferential statistics.
differentiate between discrete variables and continuous variables.
construct, use and interpret statistical charts and graphs.
solve problems involving measures of central tendency.
assess the advantages and disadvantages of the mean, median and mode.
interpret common measures of dispersion.
define, compute and interpret the coefficient of variation and skewness.
explain the rudiments of the scientific research method
differentiate between a probability sample and a non-probability sample.
solve problems using the normal distribution.
state and apply the Central Limit Theorem.
compute and interpret point and interval estimates.
interpret the maximum allowable error.
compute sample sizes for means and proportions.
identify statistical hypotheses.
test hypotheses involving one mean and one proportion.
Modes of Delivery
Two lecture hours and one tutorial hour per week. Problem sets will be used to guide the
tutorial sessions.
Assessment
In-course quizzes (40%) and a comprehensive final examination (60%).
Syllabus
Introductory concepts
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Definition of terms: statistics, statistic, descriptive statistics, inferential statistics,
Uses of Statistics
Discrete variables and continuous variables.
Samples and populations
Primary data and secondary data
Levels of measurement: nominal, ordinal, interval and ratio
Summarizing Data
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Summarize and describe data
Graphical methods of data presentation
Cross-sectional and time-series data
Grouped and ungrouped frequency distributions
Class limits and class boundaries
Cumulative frequency distributions
Measures of Central Tendency and Dispersion
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Measures of central tendency: mean, median, mode, weighted mean, trimmed mean
Measures of variability: range, mean deviation, standard deviation, variance
Empirical rule and Chebyshev’s Theorem
Skewness and kurtosis
Scientific Research Methods
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Overview of the scientific method
The research process
Theory versus fact
Hypothesis and propositions
Methods of data collection
Sampling methods
Questionnaires: design, administration and budgeting
General principles of survey design
Advantages of using sample surveys
Probability and non-probability samples
Sampling and non-sampling errors
Probability and Probability Distributions
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Definition of probability
Sample space and events
Mutually exclusive, conditional and independent events
Random variables
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Expectation, variance and standard deviations of discrete random variables
Binomial and normal probability distributions
Normal approximation to the binomial
Introduction to Inferential Statistics
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Sampling distributions
Central Limit Theorem
Sample and sample proportions as random variables
Sampling distributions of the mean and proportion
Interval estimates for the population mean and proportion
Calculation of sample size
Hypothesis tests for a mean and for a proportion
Resources
Prescribed
Mann, Prem. Introductory Statistics. (Any edition). John Wiley &
Sons Inc.
Zikmund, William G. Business Research Methods. The Dryden
Press, HBJ (International Edition).
Highly Recommended
Newbold, P. et al. 2009. Statistics for Business and Economics.
New Jersey: Prentice Hall.
Mason, R, and D. Lind. 2009. Statistical Techniques in Business
and Economics. Boston: Irwin.
Spiegel, Murray R. Statistics . Schaum’s Outline Series. McGrawHill (Latest Edition).