Economic statistics: methods for businesses approaches
The course intends to present the great potentialities of statistical methodologies for compelling applications in business. To know the suitable statistical instruments and to know how to apply them enables to develop the capacity to summarise and generalise the data collected for business management. In detail, the main learning objectives are:
Knowledge and comprehension capacity: students must prove their ability to know and comprehend the quantitative tools for strategic choices and, specifically, the basic statistics and the models for predictions.
Application capacity: students must be able to apply the statistical instruments to the strategic choices and to the assessment of the business management. Moreover, they must be able to analyse and interpret the data correctly.
Autonomy of judgment: the course intends to stimulate the statistical reasoning for reading and interpreting data, with special reference to information on business structures and dynamics.
Learning capacity: at the end of the course, students must prove a good capacity of statistics learning in order to apply the statistical methodologies to business decisions.
The course is addressed to bachelor students in management. Students need to have passed the exam in basic mathematics.
Part I (about 24 hours): Univariate and bivariate descriptive statistics.
Part II (about 12 hours): Probability and probability distributions.
Part III (about 24 hours): Sampling and statistical inference.
Part IV (about 12 hours): Linear regression model
The following topics are covered: Data collection. Frequency distributions and graphs. Summary descriptive measures: central tendency and variability. Index numbers. Correlation analysis. Probability. Random variables. Sampling distributions. Point and interval estimation. Hypothesis tests. Inference on means and proportions. One-way analysis of variance. Simple linear regression. Inference in the linear regression model. Extensions of the linear regression model.
Lectures and practice exercises
For students who speak Italian, the main reference is represented by the following book:
Borra S., Di Ciaccio A. (2014), Statistica. Metodologie per le scienze economiche e sociali. Terza edizione, McGraw Hill.
Reference text in english: Anderson D.R., Sweeney D.J., Williams T.A., Camm J.D., Cochran J.J. (2015), Statistics for Business and Economics, 12th edition, Cengage.
Other references will be suggested at the beginning of the course.
Further learning material is available from the eLearning portal of the course (http://e-economiaegiurisprudenza.uniparthenope.it/moodle/).
Written exam. The final exam includes 3 exercises and a set of binary-choice tests (true/false). Students can use pocket calculator and they can consult the tables of the main probability distributions and an ad hoc formulary, downloadable from the eLearning portal of the course (http://e-economiaegiurisprudenza.uniparthenope.it/moodle/). The exercises intend to assess the capacity of applying the statistical methodology and the capacity of analysing data. The binary-choice tests allow to evaluate the comprehension of the basic topics. The oral examination is mandatory if the score at the written test is higher than 27/30.