ECON 260: Business Statistics
Department of Economics and Finance
Albers School of Business and Economics
Seattle University
Spring 2004
Monday and Wednesday 9:30-11:35 a.m.
Pigott 100
Instructor: Bridget Hiedemann
Office:
Pigott 523
Phone:
(206) 296-2803
E-mail:
bgh@seattleu.edu
Website:
http://fac-staff.seattleu.edu/bgh
Office Hours: Monday 4:30-5:30 p.m. (Bellevue), Wednesday 12:30-1:30 p.m. (Seattle),
Thursday 4:30-5:30 p.m. (Seattle), and by appointment
Overview
Business Statistics introduces business and economics students to basic statistical procedures and
concepts used in the business world. The course covers descriptive statistics, basic probability
theory, discrete and continuous probability distributions, sampling distributions, interval
estimation, and hypothesis testing.
Objectives
This course should enhance a student’s ability
 to use computers for statistical analysis;
 to interpret and communicate quantitative information;
 to understand and interpret descriptive statistics;
 to understand probability theory and interpret probabilities;
 to understand and interpret interval estimation and hypothesis testing.
Materials
Anderson, Sweeney, and Williams (2003), Essentials of Statistics for Business and Economics
(3rd edition).
Selected Cases for Introduction to Statistics.
Economics 260 Course Packet (available at the Copy Mart on Madison).
Prerequisites
Math 130 or 134
CSSE 103
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Homework
Assignments include recommended problems from the textbook and three case studies. The case
studies involve determining which results are relevant, generating these results with Microsoft
Excel, communicating these results, and interpreting them. You may work together to generate
the results but you must provide your own analysis to receive credit. Case studies are due at the
beginning of class on the scheduled dates. Late case studies will not be accepted.
Quizzes and Exams
The course includes five quizzes and three exams. Quizzes may not be rescheduled but the
lowest quiz score will be dropped. Exams may not be rescheduled. If you miss an exam, you
will receive no credit for that exam.
Grading
Exams
Quizzes:
Case Studies:
75%
10%
15%
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Schedule
Date
Agenda
March 29
Chapter 1: Data and Statistics
March 31
Microsoft Excel Workshop in Pigott 328
April 5
Chapter 2: Descriptive Statistics: Tabular and Graphical Methods
2.1: frequency, relative frequency, and percent frequency distributions
2.2: frequency, relative frequency, percent frequency, and cumulative distributions
2.4: all
Chapter 3: Descriptive Statistics: Numerical Methods
3.1, 3.2, 3.5: all
3.3: z-scores, empirical rule, detecting outliers
April 7
April 12
April 14
April 19
April 21
and 26
April 28
May 3
May 5
May 10
May 12
May 17
Quiz 1
Chapter 3: Descriptive Statistics: Numerical Methods, continued
Chapter 4: Introduction to Probability
Rubbergate
Chapter 4: Introduction to Probability, continued
Quiz 2
Chapter 4: Introduction to Probability, continued
Exam 1
Chapter 5: Discrete Probability Distributions (5.1-5.4)
Stocks A and B
Chapter 6: Continuous Probability Distributions (6.1, 6.2)
Quiz 3
Chapter 6: Continuous Probability Distributions, continued
Chapter 7: Sampling and Sampling Distributions
Quiz 4
Chapter 7: Sampling and Sampling Distributions, continued
Chapter 8: Interval Estimation
May 19
Chapter 8: Interval Estimation, continued
Chapter 10: Comparisons Involving Means (10.1)
Chapter 11: Comparisons Involving Proportions and a Test of Independence (11.1 except
HT)
Exam 2
May 24
Chapter 9: Hypothesis Testing
May 26
Quiz 5
Chapter 9: Hypothesis Testing, continued
Chapter 10: Comparisons Involving Means (10.2)
Chapter 11: Comparisons Involving Proportions and a Test of Independence (11.1)
Hospital Charges
Chapter 11: Comparisons Involving Proportions and a Test of Independence (11.2, 11.3)
Exam 3
June 2
June 7
June 9
noon
This schedule is tentative. Dates and topics are subject to change. Quizzes may be given at any time on
the dates scheduled above.
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Recommended Homework Problems
Chapter 1: 2, 3, 4, 6, 8, 10, 13, 14, 20, 22, 24
Chapter 2: 2, 4abd, 10abd, 15, 20, 32, 34
Chapter 3: 6, 8, 9, 12, 18, 24, 26, 32, 34, 36, 50, 52
Chapter 4: 9, 10, 12, 19, 20, 24, 26, 28, 34, 35, 37, 38, 42, 49, 54, 55, 57, 58, 59
Chapter 5: 4, 6, 8, 13, 18, 20, 24, 28, 32, 34, 36
Chapter 6: 4, 6, 10, 12, 15, 18, 20, 22, 42
Chapter 7: 10, 13, 14, 16, 24, 25, 26, 30, 37, 38, 39, 42
Chapter 8: 5, 6, 8, 17, 18, 20, 25, 26, 28, 35, 36, 38, 39, 42
Chapter 9: 1, 2, 5, 6, 13acde, 14bc, 17, 18, 20, 28, 29, 30, 38bcd, 42a,c-g, 48, 50, 52
Chapter 10: 4, 7, 8, 15, 16, 18
Chapter 11: 4, 6, 7, 8, 10, 13, 14, 16, 21, 22, 24, 28
Note: Answers to even-numbered exercises are provided in Appendix D, and solutions (steps
and answers) to self-test exercises are provided in Appendix E. Complete solutions manuals are
on reserve at the Lemieux Library. Also I would be happy to go over any of these exercises
during class or office hours.
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