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.
Communication skills: we expect our students to acquire a statistical vocabulary to be able to present their own analyses.
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. Correlation analysis. Probability. Random variables. Sampling distributions. Point and interval estimation. Hypothesis tests. Inference on means and proportions. Simple linear regression. Inference in the linear regression model.
Lectures, case studies, project work and practice exercises
For students who speak Italian, the main reference is represented by the following book:
Borra S., Di Ciaccio A. (2021), Statistica. Metodologie per le scienze economiche e sociali. Quarta 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.
Further learning material is available from the eLearning portal of the course (http://e-economiaegiurisprudenza.uniparthenope.it/moodle/).
Verification of learning is done through a written test on the Moodle platform, a project work, to be presented in the classroom, and an oral examination.
The written test includes a set of multiple-choice tests and open-ended questions (time: 40 minutes). The multiple-choice test penalizes the wrong answers whereas they do not penalize the missing answers. Students can use a 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 written test intends to evaluate the comprehension of the basic topics as well as the capacity for applying the statistical methodology for analysing data. Project work is not mandatory but highly recommended. The project work assesses the application capacity and communication skills.
The written test is evaluated with a maximum score of 30. The project work is assigned a maximum score of 3 points. The oral examination is mandatory if the score (written test + project work) is higher than 27/30.