Introduction to Business and Economic Statistics

Department of Statistics
Stat 2112-10 – CRN 81787 – Fall 2014
Instructor: Dr. Joshua Landon
Office: Rome Hall, Room 652
E-mail: [email protected]
Office hours: 11:00 a.m. – 12:00 p.m. Mondays, and by appointment
Lecture: T & R 11:10 a.m. – 12:25 p.m., Rome Hall, Room 204.
Textbook: McClave, James T., Benson. P. G., and Sincich, T., Statistics for Business and
Economics, 12th edition, Pearson Publishing. (ISBN: 9780321826466)
Course Description: STAT 2112 is the second of the business statistics courses which builds
upon basic statistical concepts covered in the previous introductory statistics courses such as
STAT 1051, STAT1053 and STAT1111. The course will review Chapters 6, 7 & 8
(confidence interval estimate, and hypothesis testing) to ensure that students know the basic
concepts and methods discussed in the prerequisite courses. The course will cover Chapter 9
(Design of Experiments and ANOVA, Chapter 10 (Categorical Data Analysis), Methods of
Chapter 11 (Simple Linear Regression), Chapter 12 (Multiple Regression), Chapter 14 (Time
Series Forecasting) and Chapter 15 (Nonparametric Statistics – Available on CD). Time
Permitting Chapter 13 (Methods for Quality Improvement: Statistical Process Control) will
also be covered.
Prerequisites: One course in statistics: STAT1051, STAT1053, STAT1111 or equivalent
Learning Outcomes: By completing this course, students will be able to do the following
1. Carry out and interpret the results of basic statistical analysis, analysis of variance, chisquare analysis, simple and multiple regression, statistical quality control and time series
2. Learn the basic application of statistical software (SAS/Excel) for conducting these
3. Learn the assumptions underlying the above-mentioned statistical procedures and know
when each method is appropriate for the data analyze.
Homework: Homework will be assigned each week in class but will not be graded. You
should do all the assigned exercises to make sure that you understand the covered
material and to prepare for the quizzes and final exam.
Quizzes: There will be a quiz roughly at the end of each chapter of the textbook. These
quizzes will be closed book but a sheet with formulas and the use of a calculator will be
Assignments: There will be four to six small assignments, in which you will be asked to
apply the techniques learned in the course to analyze real data.
Final Exam: The final examination will be closed book but a sheet with formulas and the
use of a calculator will be allowed.
Grading: Your final grade will be determined by a weighted average of assignments and
exam scores:
Assignments 40%
Quizzes 40%
Final Exam 20%