Econ 207: Business Statistics Dr. Saleheen Khan

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Econ 207: Business Statistics Dr. Saleheen Khan

Department of Economics Office: 121 Morris Hall

Minnesota State University Phone: 389 2711

Spring 2003 e-mail: [email protected]

COURSE OBJECTIVES:

This course provides an introduction to theoretical and applied statistics for business and economics. The main objective is to stress the importance of applying statistical analysis to the solution of common business problems. Every opportunity is utilized to demonstrate the manner in which statistics can effectively facilitate the many decisions that business managers face on an almost daily basis.

The general objective of this course is to prepare the students with skills to:

(i) Develop proper understanding of conceptual framework needed for statistical

(ii)

(iii)

(iv) analysis,

Develop sound quantitative foundation for statistical analysis,

Solve business related problems using appropriate statistical tools, and

Use regression technique for modeling and forecasting.

Upon completion of this course, you should be able to:

Understand the vocabulary and methodological issues associated with presentation and analysis of data.

Understand single number summary for data sets, e.g., measure of central tendency/dispersion and their use.

Understand probability theory and probability distribution.

Learn the properties of sampling distribution

Make point and interval estimates for population means and proportion; and determine the sample size

Perform tests of hypothesis about population means and proportions.

Develop a model of your own using simple linear correlation and regression techniques.

TEXTBOOK

-

Statistics for Business and Economics (eighth edition), Anderson, Sweeney, and

Williams (required)

-

Workbook ( optional, but highly recommended)

HOMEWORK

Homework will be assigned regularly. Students are recommended to make a study group

(each consists of 3 to 4 students) and are strongly encouraged to study together to solve homework problems.

Practice

is the key to be successful in taking a statistics course.

Solution to the selected homework problems will be discussed in the class. You will also learn and use statistical software, SPSS, to compute statistical measures.

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EXAMINATION AND QUIZZES

Six quizzes, two mid-term exams and a comprehensive final exam will be given in class during the semester. Exams and quizzes will consist primarily of statistical problems. A calculator will be necessary for computations.

REVIEW WORKSHEETS

A review worksheet will be assigned before every major exam. You should attempt to solve all the problems in the review worksheet. It will prepare you for the exam. Review worksheets will be collected and graded.

GRADING POLICY

The total number of possible points in the course is 500.

Quizzes : 60 pts

Review worksheets

First mid-term

Second mid-term

Final Exam

Class participation and attendance

Computer Assignments

: 30 pts

: 100 pts

: 100 pts

: 150 pts

: 10 pts

: 50 pts

MAKE-UP POLICY

There will be no make-ups for missed quizzes regardless of reason.

Please do not request me for such.

Late assignments will not be accepted.

Make-up exam may be given under extreme circumstances. You need to show an official, written university excuse to get that opportunity. For those with an official excuse, a single comprehensive make-up will be given during the last week of the scheduled class. Any student fail to follow this policy will receive an automatic zero for the missed exam(s).

OFFICE HOURS

My office hours are M – R: 12 – 2 or by appointment. I strongly encourage you to stop by my office to discuss your progress.

COURSE WEBPAGE:

A course website has been built. I have posted review for the exams and practice exams.

I plan to pose more material related to the course. The website has the following URL: http://krypton.mnsu.edu/~khans3/econ207.html

SPECIAL NOTE

Every attempt will be made to accommodate qualified students with disabilities. If you are a student with a documented disability, please see me as early in the semester as possible to discuss the necessary accommodations, and or contact the

Disabilities Services Office at (507)-389-2825 or 1-800-627-3529(MRS/TTY"

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ASSIGNED PROBLEMS

1. Introduction

Chapter 1: 5, 6, 8, 13, 22

2. Descriptive Statistics

Chapter 2: 4, 15, 20, 25, 30, 39

Chapter 3: 6, 7, 13, 19, 23, 27, 29, 31, 35, 36, 49, 56, 58

3. Introduction to Probability

Chapter 4: 2, 4, 10, 16, 19, 23, 26, 29, 30, 33, 36, 53

4. Probability Distribution

Chapter 5: 8, 11, 16, 21, 26, 29, 30, 33, 38, 40, 43, 48, 51, 53, 57, 58, 64, 65

Chapter 6: 2, 6, 9, 10, 15, 19, 21, 23, 34, 39

5. Sampling Distribution

Chapter 7: 1, 11, 14, 18, 19, 20, 27, 28, 29, 33, 34, 41, 42, 56

6. Interval Estimation

Chapter 8: 2, 6, 15, 18, 20, 27, 30, 31, 33, 34, 35, 60

7. Hypothesis Testing

Chapter 9: 16, 17, 27, 37, 42, 46, 47, 49

Chapter 10: 11, 12, 16, 17, 20, 30, 31, 36, 47

8. Tests of Goodness of Fit

Chapter 12: 3, 5, 9, 12, 27, 31

9. Analysis of Variance

Chapter 13: 1, 2, 8, 11, 15, 26

10. Regression Analysis

Chapter 14: 1, 2, 4, 9, 15, 16, 18, 23, 24, 26, 45

Chapter 15: 2, 5, 7, 15, 20, 23, 33, 34

**

Please read the lecture notes, textbook chapters, and other supplementary materials regularly as we proceed through the semester.

Tentative Course Schedule: Dates may change depending on how we progress in the class

Dates Note Materials to be covered

Jan 13-17

Jan 20- 24

Jan 27 - 31

Quiz I

Introduction to course

Chapter 1: data and statistics

Chapter 2: Descriptive Statistics : Tabular and Graphical methods

Chapter 2: Continued

Chapter 3: Descriptive Statistics: Numerical Method

Homework Ch 1 -3

Chapter 4: Introduction to Probability

Feb 3-7

Quiz II

Feb 10-14

Feb 17-21

Feb 24-28

Mar 3 -7

Mar 10-14

Mar 17 -21

Mar 24-28

Mar 31-Apr 4

Apr 7-11

Exam I

(covering

Ch 1-4)

Quiz III

Quiz IV

EXAM II

Quiz V

Chapter 4: Continued

Homework Ch 4

Review for Exam I (Download from the class website)

Review Session: Exam I

Exam I (Tuesday)

Chapter8: Discrete Probability Distribution

Return Exam I

Chapter 5: Continued

Chapter 6: Continuous Probability Distribution

Homework Ch 5

Chapter Continued

Homework Ch 6

Chapter 7: Sampling and Sampling Distributions

Homework Ch 7

Chapter 8: Interval estimation

Review for Exam II (Download from the course website)

Spring Break

Chapter 8: Interval Estimation

Homework Ch 8

Review Session for Exam II

Exam II(Monday)

Chapter 9: Hypothesis Testing(One Population)

Return Exam II

Homework Ch 9

Chapter 10: Hypothesis Testing(Two Populations)

Homework Ch 10

Chapter 14: Simple Linear Regression

Apr 14-18

Apr 21-25

April 28-

May 2

Quiz VI

Chapter 14: Continued

Homework Chapter 14

Chapter 15: Multiple Regression

Homework Ch 15

Review Worksheet for Final Exam (Download from course website)

Chapter 15: Continued

Review Session for the Final Exam

Comprehensive Final (Emphasis Ch 4 -15)

Check Calendar for Finals Date

Make up Exam(comprehensive; covering Ch 4-10): May 1.

Download