Course - Statistics for Business - REA1154
REA1154 - Statistics for Business
About
Examination arrangement
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 mathematical exercises.
Compulsory assignments
- obligatory
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, Casio FC-100V-2, and Texas Instruments - BAII Plus
Specific conditions
Admission to a programme of study is required:
Business Administration (BØA)
Business Administration (ÅØKADM)
Digital Business Development (ITBAITBEDR)
Recommended previous knowledge
Basic knowledge in mathematics
Required previous knowledge
Admission to the study programme.
Course materials
To be announced at the start of the semester.
Credit reductions
| Course code | Reduction | From | To |
|---|---|---|---|
| TMA4240 | 7.5 | AUTUMN 2019 | |
| TMA4245 | 7.5 | AUTUMN 2019 | |
| ME120 | 6.0 | AUTUMN 2019 | |
| ME120 | 6.0 | AUTUMN 2019 | |
| MET8001 | 7.5 | AUTUMN 2019 | |
| REA1131 | 5.0 | AUTUMN 2019 | |
| MET1002 | 7.5 | AUTUMN 2019 | |
| REA1152 | 7.5 | AUTUMN 2021 | |
| AR100219 | 7.5 | AUTUMN 2021 |
No
Version: 1
Credits:
7.5 SP
Study level: Foundation courses, level I
Term no.: 1
Teaching semester: SPRING 2025
Language of instruction: Norwegian
Location: Gjøvik
- Statistics
- Economics and Administration
Department with academic responsibility
Department of Mathematical Sciences
Examination
Examination arrangement: School exam
- Term Status code Evaluation Weighting Examination aids Date Time Examination system Room *
- Spring ORD School exam 100/100 C , D INSPERA
-
Room Building Number of candidates - Summer UTS School exam 100/100 C , D INSPERA
-
Room Building Number of candidates
- * 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.
For more information regarding registration for examination and examination procedures, see "Innsida - Exams"