ECON 260: Business Statistics
Department of Economics and Finance
Albers School of Business and Economics
Seattle University
Fall 2003
TTh 1:20 pm to 3:25 pm
Instructor: Mary Jean Rivers
Office:
Pigott 526
Office Hours: MTTH 10:30 am to 11:45 am
Phone:
(206) 296-5717
Fax:
(206) 296-2486
E-mail:
rivers@seattleu.edu
Home Page: http:\\fac-staff.seattleu.edu/rivers
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 its applications; and to understand and apply
estimation and hypothesis testing.
MATERIALS
Anderson, Sweeney, and Williams, Essentials of Statistics for Business and Economics (3th
edition).
Selected Cases for Introduction to Statistics.
PREQUISITES
The perquisites for the class are courses in business calculus and computer proficiency.
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CASE STUDIES
During the term, you will analysis three case studies, namely:
 Machine Production Records or Stocks A and B
 Rubbergate
 Hospital Charges
Most of the cases 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. Cases are due at
the beginning of class on the scheduled dates. Late cases will not be accepted.
EXAMS and QUIZZES
The course includes three quizzes and two exams. They will be open book and open notes. The
quizzes will be one or two of the homework problems which are assigned below. If you cannot
be present for an exam or quiz due to a work conflict or an emergency, please let me know in
advance so that we can reschedule the quiz or exam as soon as possible. If you miss an exam or
quiz, you will receive no credit for that exam or quiz.
GRADING
Quizzes
Midterm
Final Exam:
Individual Case Analyses:
25% (8.3% apiece)
20%
25%
30%
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SCHEDULE
Date
9/25
Chapter, Topic and Homework
Chapter 1: Data and Statistics
Prob: 2, 4, 6, 8, 10, 14, 22
9/30
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
Appendix: 2.2: Using EXCEL For Tabular and Graphical Methods
Prob: 4,15, 20, 33
10/2-10/7
Chapter 3: Descriptive Statistics: Numerical Methods
3.1: all
3.2: all
3.3: z-scores, empirical rule, detecting outliers
3.4: five-number summary
3.5: all
10/9-10/14
Appendix 3.2 Descriptive Statistics with EXCEL
Prob: 8, 9, 18, 20, 26, 32, 34, 43(a-d), 50, 52
Chapter 4: Introduction to Probability
Prob: 10,12,18, 20, 24, 28, 32, 34, 37, 42, 54, 55, 56, 57, 58, 59
QUIZ 1 on 10/9 covering problems in Ch. 1, 2, 3
1010/16-10/21
Chapter 5: Discrete Probability Distributions (5.1-5.4)
Prob: 6, 10, 12, 18, 20, 22, 28, 32, 34, 36, 56, 58
10/16
Machine Production Records or Stocks A and B
10/23
Midterm covering assigned materials in Ch. 1, 2, 3, 4, and 5
10/28
Chapter 6: Continuous Probability Distributions (6.1, 6.2)
Prob: 3, 6, 18, 20, 22, 36, 40
10/30-11/4
Chapter 7: Sampling and Sampling Distributions
Prob: 10, 13, 16, 24, 25, 26, 28, 34, 38, 40, 42
11/6-11/13
QUIZ 2 on 11/6 covering problems in Ch. 6 and 7
Chapter 8: Interval Estimation
Prob: 5, 6, 10, 17, 20, 26, 28, 28, 35, 38, 40, 42
Appendix 8.2 Interval Estimate of a Population Mean with EXCEL
11/20
Rubbergate
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11/13-11/18
11/20-11/25
Chapter 9: Hypothesis Testing (9.1-9.7) (Wait until after the lecture to start the recommended homework problems.)
Prob. 2, 4, 6, 8, 14bc, 16acd, 18, 20, 28, 30, 38, 39b-f, 40acde, 46acd, 50, 52, 54, 58, 60, 62
Appendix 9.2 Hypothesis Testing with EXCEL
Chapter 10: Statistical Inference about Means and Proportions With Two Populations
10.1: all
10.2: all
10.4: sampling distributions and interval estimation; hypothesis testing
Prob. 4, 8, 15, 18
Appendix 10.2 Two Population Means with EXCEL
11/25
QUIZ 3 covering problems in Ch. 8 and 9
11/25-12/4
Chapter 11: Comparisons Involving Proportions and A Test of Independence
Prob. 4, 8, 12, 16, 18
Appendix 11.2 Tests of Independence with EXCEL
Hospital Charges
12/4
Final Exam
This schedule is tentative. Dates and topics are subject to change.
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