course-details-portlet

MET1002 - Statistics for Business

About

Lessons are not given in the academic year 2024/2025

Examination arrangement

Examination arrangement: School exam
Grade: Letter grades

Evaluation Weighting Duration Grade deviation Examination aids
School exam 100/100 4 hours D

Course content

  • Descriptive statistics: Location measures, variance measures
  • Probability calculations and combinatorics: The concept of probability, probability models, conditional probability
  • Discrete stochastic variables: Calculation of expectation/variance/covariance, binomial distribution, hypergeometric distribution, poisson distribution
  • Continuous stochastic variables: Normal distribution, exponential distribution, approximations to the normal distribution, linear combinations
  • Estimation: Point estimation, interval estimation, properties of estimators, valuation of sample size
  • Hypothesis testing: Hypothesis testing in measurement models (z-test and t-tests), hypothesis testing using normal approximation, chi-square tests, p-value, test strength.
  • Linear correlation and regression: Least squares method, intervall estimation, hypothesis testing, prediction.
  • Use of computer tools

Learning outcome

Knowledge. The candidate should

  • have the necessary methodical foundation in probability calculus and statistics for other subjects in the study programme.
  • be able to connect the use of statistical methods to problems related to the economics-administrative area.

Skills. The candidate should

  • have a basic understanding of the probability concept, be able to do probability calculations, and calculations using probability distributions.
  • be able to estimate, and calculate confidence intervals for, unknown parameters.
  • be able to choose and use the appropriate hypothesis test.
  • be able to use and interpret linear regression models.

Competence. The candidate should

  • be able to use statistics to express, analyze, and communicate economic relationships.
  • have a statistical understanding that can form the basis for further studies and lifelong learning.

Learning methods and activities

Lectures and exercises. Assignments must be passed to gain entry to the exam.

Compulsory assignments

  • Obligatorisk skriftlig innlevering

Further on evaluation

Supporting material allowed on exams:

  • Approved calculator regarding NTNUs support material code B-D "specific basic calculator".
  • Other calculators that are allowed in the course are: Casio FC-100V and Texas Instruments - BAII Plus.

This course is only available for students with admission to Business Administration (BØA) in Trondheim. See Specific Conditions for more details.

Required previous knowledge

None.

Course materials

To be announced at the beginning of the semester.

Credit reductions

Course code Reduction From To
ME120 6.0 SPRING 2005
ME120 6.0 SPRING 2005
MET8001 7.5 SPRING 2006
TMA4240 7.5 SPRING 2017
TMA4245 7.5 SPRING 2017
ST0103 7.5 AUTUMN 2019
SØK1004 5.0 AUTUMN 2019
REA1131 5.0 AUTUMN 2019
ST1101 7.5 AUTUMN 2019
AR100219 7.5 AUTUMN 2019
REA1154 7.5 AUTUMN 2019
REA1154F 7.5 AUTUMN 2022
More on the course

No

Facts

Version: A
Credits:  7.5 SP
Study level: Foundation courses, level I

Coursework

No

Language of instruction: Norwegian

Location: Trondheim

Subject area(s)
  • Statistics
  • Economics and Administration
Contact information

Department with academic responsibility
NTNU Business School

Timetable

List view
Calendar view

Examination

Examination arrangement: School exam

Term Status code Evaluation Weighting Examination aids Date Time Examination system Room *
Spring ORD School exam 100/100 D 2025-05-09 09:00 INSPERA
Room Building Number of candidates
SL311 lyseblå sone Sluppenvegen 14 30
  • * The location (room) for a written examination is published 3 days before examination date. If more than one room is listed, you will find your room at Studentweb.
Examination

For more information regarding registration for examination and examination procedures, see "Innsida - Exams"

More on examinations at NTNU