6 ECTS credits
180 h study time
Offer 2 with catalog number 1010744ANR for all students in the 2nd semester
at
a (A) Bachelor - preliminary level.
- Semester
- 2nd semester
- Enrollment based on exam contract
- Impossible
- Grading method
- Grading (scale from 0 to 20)
- Can retake in second session
- Yes
- Taught in
- Dutch
- Faculty
- Faculty of Social Sciences & SolvayBusinessSchool
- Department
- Applied economics
- Educational team
- Luc Hens
(course titular)
Achtee Al Yussef
- Activities and contact hours
- 26 contact hours Lecture
26 contact hours Seminar, Exercises or Practicals
128 contact hours Independent or External Form of Study
- Course Content
This course covers descriptive statistics (the art of summarizing data) and introduces the student to inferential statistics (the art of using sample data to make numerical conjectures about problems involving a population). We learn how to display data in tables and charts (frequency tables, histograms, boxplots, time series plots, …); how to describe the shape of data distributions and summarize their center and spread (mean, median, standard deviation, interquartile range, …); and how to display and summarize and interpret the relationship between two variables (scatter plots, correlation, line of best fit). We then learn about the basic elements of probability needed for statistical inference (probability rules, joint and conditional probability, contingency tables, probability trees,…); about random variables (expected value and standard error; probability models). Finally, we study the sampling distributions of proportions and means and use the Central Limit Theorem to construct confidence intervals for population proportions and population means.
- Course material
- Handbook (Required) : Business Statistics, Sharpe, N. R., De Veaux, R., and Velleman, P., 4th Edition (Global Edition), Pearson Education, 9781292269313, 2021
Digital course material (Required) : Studiewijzer voor Statistiek voor de Bedrijfseconomische Wetenschappen I, Luc Hens, 2023
Practical course material (Required) : Formuleblad voor Statistiek voor de Bedrijfseconomische Wetenschappen I, Luc Hens, 2023
Digital course material (Required) : R: A language and environment for statistical computing, R Development Core Team, R Foundation for Statistical Computing, 2023
Practical course material (Required) : Texas Instruments TI-84 Plus CE-T wetenschappelijke rekenmachine
Digital course material (Required) : RStudio Desktop (Open Source Edition), RStudio Team, RStudio, 2023
- Additional info
Not applicable.
- Learning Outcomes
-
General competences
This course aims at providing you with an understanding of descriptive statistics (displaying and describing data) and inferential statistics (making valid generalizations from sample data).
At the end of the course, you are able to:
- distinguish between categorical and quantitative data, and display and describe categorical and quantitative data;
- compute and interpret a coefficient of correlation and the line of best fit;
- apply the rules of probability;
- work with random variables and probability models (binomial model, normal model, …);
- explain the properties of the sampling distribution of a proportion or a mean (and the conditions under which those properties hold);
- find (if appropriate) a confidence interval for a proportion or a mean using data from a large sample, and interpret the meaning of the confidence interval;
- explain the limitations of statistical methods;
- use statistics in an ethical way;
- use statistical software and a scientific calculator to do statistical computations (enter data, generate descriptive statistics and graphs, compute probabilities of normally distributed random variables; compute confidence intervals);
- communicate the results of statistical work; more specifically, write up the results of statistical analysis in a report consisting of a non-technical abstract aimed at decision makers, so that they can improve their decisions, and a main section aimed at peers explaining the technical details and exact interpretation of the results.
- Grading
-
The final grade is composed based on the following categories:
Written Exam determines 100% of the final mark.
Within the Written Exam category, the following assignments need to be completed:
- Written Exam
with a relative weight of 100
which comprises 100% of the final mark.
- Additional info regarding evaluation
The examination consists of open questions (that may include problems similar to the ones from the textbook), or multiple choice questions, or both. For multiple choice questions we correct for random guessing. Students should bring the TI-84 calculator and the laminated formula sheet to the exam.
- Allowed unsatisfactory mark
- The supplementary Teaching and Examination Regulations of your faculty stipulate whether an allowed unsatisfactory mark for this programme unit is permitted.
Academic context
This offer is part of the following study plans:
Bachelor of Business Engineering: Default track (only offered in Dutch)
Bachelor of Business Economics: Default track (only offered in Dutch)
Bachelor of Business Economics: Minor Political Science (only offered in Dutch)
Bachelor of Business Economics: Minor Law (only offered in Dutch)
Bachelor of Business Economics: Minor Sociology (only offered in Dutch)
Bachelor of Business Economics: Minor Philosophy and Moral Sciences (only offered in Dutch)
Bachelor of Business Economics: Minor Management and Policy in Health Care (only offered in Dutch)
Bachelor of Business Economics: Minor Minor Education (only offered in Dutch)