Course Name | Probability and Statistics for Business |
Code | Semester | Theory (hour/week) | Application/Lab (hour/week) | Local Credits | ECTS |
---|---|---|---|---|---|
STAT 602 | Fall/Spring | 3 | 0 | 3 | 10 |
Prerequisites | None | |||||
Course Language | English | |||||
Course Type | Elective | |||||
Course Level | Third Cycle | |||||
Mode of Delivery | - | |||||
Teaching Methods and Techniques of the Course | ||||||
Course Coordinator | - | |||||
Course Lecturer(s) | ||||||
Assistant(s) | - |
Course Objectives | To provide the fundamental concepts of Probability and Statistics with applications of business and economic problems.The course illustrates many examples of common statistical methods for students who would like to focus on information intensive fields. |
Learning Outcomes | The students who succeeded in this course;
|
Course Description | Confidence interval estimation: one and two populations, Hypothesis Tests of single and double populations, Simple and multiple regression analysis, Nonparametric statistics |
Related Sustainable Development Goals | |
| Core Courses | |
Major Area Courses | ||
Supportive Courses | ||
Media and Managment Skills Courses | ||
Transferable Skill Courses |
Week | Subjects | Required Materials |
1 | Point Estimators and their properties, concepts of confidence level and interval | Statistics and Business Economics by P. Newbold W. L. Carlson, B. Thorne, 7/e, Prentice Hall: 7.1 (308:314) |
2 | Confidence interval estimation for the mean of a normal distribution when the population variance known and population variance unknown. Excel applications | Statistics and Business Economics by P. Newbold W. L. Carlson, B. Thorne, 7/e, Prentice Hall: 7.2, 7.3 (315:327) |
3 | Confidence interval estimation of the difference between two normal population means when samples are dependent . | Statistics and Business Economics by P. Newbold W. L. Carlson, B. Thorne, 7/e, Prentice Hall: 8.1 (347:353) |
4 | Confidence interval estimation of the difference between two normal population means for independent samples with known and unknown population variances. | Statistics and Business Economics by P. Newbold W. L. Carlson, B. Thorne, 7/e, Prentice Hall: 8.2 (353:360) |
5 | Concepts of hypothesis testing. Hypothesis test of the mean of a normal distribution when the population variance is known. Concept of p value. | Statistics and Business Economics by P. Newbold W. L. Carlson, B. Thorne, 7/e, Prentice Hall: 9.1, 9.2 (375:392) |
6 | Hypothesis test of the mean of a normal distribution when the population variance is unknown. | Statistics and Business Economics by P. Newbold W. L. Carlson, B. Thorne, 7/e, Prentice Hall: 9,3 (392:396) |
7 | Hypothesis test of the difference between two normal population means for dependent samples. | Statistics and Business Economics by P. Newbold W. L. Carlson, B. Thorne, 7/e, Prentice Hall: 10.1 (414:420) |
8 | Hypothesis test of the difference between two normal population means for independent samples with known and unknown population variances.Test of equality of variances between two normally distributed populations. | Statistics and Business Economics by P. Newbold W. L. Carlson, B. Thorne, 7/e, Prentice Hall: 10.2 (420:428) 10.4 (432:436) |
9 | Linear models, Least squares Regression technique. Linear Regression model.Least squares coefficient estimators. | Statistics and Business Economics by P. Newbold W. L. Carlson, B. Thorne, 7/e, Prentice Hall: 11.1,11.2,11,3 (444:459) |
10 | The explanatory power of a linear Regression equation,.Analysis of variance.Coefficient of determination. | Statistics and Business Economics by P. Newbold W. L. Carlson, B. Thorne, 7/e, Prentice Hall: 11.4. (460:467) |
11 | Hypothesis test and confidence intervals for the population regression slope. Hypothesis test for the population slope using F distribution. Forecast and Prediction intervals. Correlation analysis with hypothesis test for correlation. | Statistics and Business Economics by P. Newbold W. L. Carlson, B. Thorne, 7/e, Prentice Hall: 11.5,11.6 (467:486) |
12 | The multiple regression model. Least squares estimation and sample multiple regression. The explanatory power of a multiple regression equation. Adjusted coefficient of determination and coefficient of multiple correlation. | Statistics and Business Economics by P. Newbold W. L. Carlson, B. Thorne, 7/e, Prentice Hall: 12.1,12.2, 12.3 (503:525) |
13 | Confidence intervals and hypothesis tests for individual regression coefficients. Test on all coefficients of a multiple regression equation using F distribution, SPSS applications. | Statistics and Business Economics by P. Newbold W. L. Carlson, B. Thorne, 7/e, Prentice Hall: 12.4,12.5 (525:544) |
14 | Nonparametric tests for matched pairs: Sign test , normal approximation to the sign test, Wilcoxon Signed rank test and normal approximation to the Wilcoxon Signed rank test. SPSS applications. Nonparametric tests for independent random samples: MannWhitney U test | Statistics and Business Economics by P. Newbold W. L. Carlson, B. Thorne, 7/e, Prentice Hall: 14.4 (654:664),14.5 (665:670) |
15 | Semester Review | |
16 | Final Exam |
Course Notes/Textbooks | "Statistics and Business Economics" by P. Newbold, W. L. Carlson, B. Thorne, Prentice Hall, 7th Edition, 2009. ISBN-13: 978-0136085362 Chapters 7,8,9,10,11,12,14 |
Suggested Readings/Materials | "Essentials of Contemporary Business statistics" by T.A. Williams, D.J. Sweeney, D.R. Anderson, Thomson South-Western, 5th edition, 2012,. ISBN-13: 978-1133187653 |
Semester Activities | Number | Weigthing |
Participation | ||
Laboratory / Application | ||
Field Work | ||
Quizzes / Studio Critiques | ||
Portfolio | ||
Homework / Assignments | ||
Presentation / Jury | 1 | 10 |
Project | 1 | 20 |
Seminar / Workshop | ||
Oral Exam | ||
Midterm | 1 | 30 |
Final Exam | 1 | 40 |
Total |
Weighting of Semester Activities on the Final Grade | 3 | 60 |
Weighting of End-of-Semester Activities on the Final Grade | 1 | 40 |
Total |
Semester Activities | Number | Duration (Hours) | Workload |
---|---|---|---|
Course Hours (Including exam week: 16 x total hours) | 16 | 3 | 48 |
Laboratory / Application Hours (Including exam week: 16 x total hours) | 16 | ||
Study Hours Out of Class | 14 | 6 | 84 |
Field Work | |||
Quizzes / Studio Critiques | |||
Portfolio | |||
Homework / Assignments | |||
Presentation / Jury | 1 | 18 | |
Project | 1 | 80 | |
Seminar / Workshop | |||
Oral Exam | |||
Midterms | 1 | 30 | |
Final Exams | 1 | 40 | |
Total | 300 |
# | Program Competencies/Outcomes | * Contribution Level | ||||
1 | 2 | 3 | 4 | 5 | ||
1 | To develop and deepen his/her knowledge on theories of mathematics and statistics and their applications in level of expertise, and to obtain unique definitions which bring innovations to the area, based on master level competencies, | |||||
2 | To have the ability of original, independent and critical thinking in Mathematics and Statistics and to be able to develop theoretical concepts, | |||||
3 | To have the ability of defining and verifying problems in Mathematics and Statistics, | |||||
4 | With an interdisciplinary approach, to be able to apply theoretical and applied methods of mathematics and statistics in analyzing and solving new problems and to be able to discover his/her own potentials with respect to the application, | |||||
5 | In nearly every fields that mathematics and statistics are used, to be able to execute, conclude and report a research, which requires expertise, independently, | |||||
6 | To be able to evaluate and renew his/her abilities and knowledge acquired in the field of Applied Mathematics and Statistics with critical approach, and to be able to analyze, synthesize and evaluate complex thoughts in a critical way, | |||||
7 | To be able to convey his/her analyses and methods in the field of Applied Mathematics and Statistics to the experts in a scientific way, | |||||
8 | To be able to use national and international academic resources (English) efficiently, to update his/her knowledge, to communicate with his/her native and foreign colleagues easily, to follow the literature periodically, to contribute scientific meetings held in his/her own field and other fields systematically as written, oral and visual. | |||||
9 | To be familiar with computer software commonly used in the fields of Applied Mathematics and Statistics and to be able to use at least two of them efficiently, | |||||
10 | To contribute the transformation process of his/her own society into an information society and the sustainability of this process by introducing scientific, technological, social and cultural advances in the fields of Applied Mathematics and Statistics, | |||||
11 | As having rich cultural background and social sensitivity with a global perspective, to be able to evaluate all processes efficiently, to be able to contribute the solutions of social, scientific, cultural and ethical problems and to support the development of these values, | |||||
12 | As being competent in abstract thinking, to be able to connect abstract events to concrete events and to transfer solutions, to analyze results with scientific methods by designing experiment and collecting data and to interpret them, | |||||
13 | To be able to produce strategies, policies and plans about systems and topics in which mathematics and statistics are used and to be able to interpret and develop results, | |||||
14 | To be able to evaluate, argue and analyze prominent persons, events and phenomena, which play an important role in the development and combination of the fields of Mathematics and Statistics, within the perspective of the development of other fields of science, | |||||
15 | In Applied Mathematics and Statistics, to be able to sustain scientific work as an individual or a group, to be effective in all phases of an independent work, to participate decision-making process and to make and execute necessary planning within an effective time schedule. |
*1 Lowest, 2 Low, 3 Average, 4 High, 5 Highest