Authorised by Academic Registrar, April 1996
Objectives On successful completion of this subject students will have an appreciation of the role of statistical methods in business and economics; an understanding of some of the factors that can cause sample surveys to provide misleading results; be familiar with simple applications of point and interval estimation, hypothesis testing and the simple linear regression model as statistical tools for decision making.
Synopsis An introduction to the principles and techniques of statistical inference as applied in business and economics - probability distributions; an introduction to random sampling including simple random sampling, stratified random sampling; and cluster sampling; estimators and their properties; the construction and interpretation of confidence intervals; hypothesis testing; acceptance sampling; the simple linear regression model.
Assessment Written (3 assignments [computing and report]): 30% + Examination (2 hours): 70%