Economics 220 - Business Statistics

(Readings should be completed prior to the lecture)

Syllabus (PDF)     Grading Scale     Datafiles

DATES

TOPICS

READINGS AND ASSIGNMENTS    

WEEK 1

January

17, 19

Introduction and

Review of Syllabus

 

Data and Statistics

Introduction, Read the Syllabus etc.     Political Numbers Games

Read Chapter 1 - Data and Statistics     (PPT)          (How to Lie and Cheat with Statistics)

Example: Nations

Assigned Problems in Chapter 1 (6th and 7th Eds.): 1, 13, 14 (Data), 19, 24

WEEK 2

January

22

Sampling

Read Chapter 7 (Sec. 7.1, 7.2) - Sampling     (PPT)  

Examples: 1. EAI     2. Baseball

Assigned Problems in Chapter 7 (6th and 7th Eds.): 2, 8

January

24

Descriptive - Frequency

Read Chapter 2 (Sec. 2.1, 2.2, 2.3) - Descriptive Statistics: Tabular-Graphical Presentations     (PPT)

Examples: 1. Hotel Ratings     2. Frequency      3.  Soft Drink     4. Audit    

January

26

 Excel Data Analysis: Histograms, Bar Charts and Cross Tabulations

Read Chapter 2 (Sec. 2.4, 2.5) - Refer to Descriptive Statistics: Tabular-Graphical Presentations     (PPT)

Examples: 1. Restaurant Data     2. Crosstab     3. Stereo     4. Hypertension    5. FortuneBest100 

Assigned Problems in Chapter 2 (6th and 7th Eds.): 8 (Data), 12, 27 (Data

Simpson's Paradox (No need to download)     Best and Worst Pie Chart     Misleading Diagram     Nice Pie Charts

WEEK 3

January

29, 31

 

Descriptive - Location and Dispersion

 

QUIZ 1 (January 31)

Read Chapter 3 (Sec. 3.1, 3.2) - Descriptive Statistics: Numerical Measures     (PPT)    
Examples: 1.
StartingSalaries     2. Runners     3. Grades     4. Weighted Average  5. Best Private Colleges    

Assigned Problems in Chapter 3(6th and 7th Eds.): 2, 30 (20 in 6th), 34 (24 in 6th), 40 (30 in 6th), 58 (48 in 6th)    

Types of Kurtosis       Arithmetic versus Geometric Mean

QUIZ 1 (Chapters 1 and 2)

February

2

Descriptive - Relative Measures, Correlation

Read Chapter 3 (Sec. 3.3, 3.4, 3.6) - Refer to  Descriptive Statistics: Numerical Measures     (PPT)

Assigned Problem: World Temperature

WEEK 4

February

5

Catching-up Time and Review

Review for Exam

February

7

EXAM 1

(Chapters 1, 2 and 3)

February

9

Probability: Rules and Functions

Read Chapter 4 (Sec. 4.1, 4.2, 4.3) - Introduction to Probability     (PPT)              Precipitation Example

Assigned Problems in Chapter 4 (7th Edition) – Problems and Solutions in Text/Moodle): 20, 28, 32, 33

Assigned Problems in Chapter 4 (6th Edition): 2, 18, 32, 38 

Independent versus Mutually Exclusive     Independent Events and Joint Probability Examples

WEEK 5

February

12

Probability: Rules and Functions Continued

Read Chapter 4 (Sec. 4.4) - Introduction to Probability     (PPT)

February

14

Discrete Probability-Random Variables

Read Chapter 5 (Sec. 5.1, 5.2, 5, 3) - Discrete Probability Distributions    (PPT)
Assigned Problems in Chapter in 5 (6th and 7th Eds.):  4, 6, 8, 16, 20, 22 

Finance Example: EVandVar     ExampleDATA

February

16

Online Day

 

ONLINE QUIZ 2

Watch the following videos: Probability Song     Permutations (counting principle, factorials)     Combinations (permutations)     Conditional Probability-Example

ONLINE QUIZ 2 (Chapter 4) IN MOODLE (GRADED – 5 points) – Due end of day February 18

WEEK 6

February

19

Uniform Probability  

Read Chapter 6 (Sec.6.1) -  Continuous Probability Distributions     (PPT)
Cumulative Standard Normal Table         
Negative and Positive Cumulative Standard Normal            Link to Z - distribution Calculator

February

21

Probability Distributions - Normal Distribution

Read Chapter 6 (Sec. 6.2) - Refer to  Continuous Probability Distributions     (PPT)
Assigned Problems in Chapter 6 (6th and 7th  Eds.): 2, 8, 12, 14, 18 
Practice Problems for Chapters 5 and 6   

Negative and Positive Cumulative Standard Normal             Link to Z - distribution Calculator

February

23

Catching-up Time and Review

Review for Exam

WEEK 7

February

26

EXAM 2

(Chapters 4, 5, and 6)

February

28

 

Sampling Distributions

Read Chapter 7 (Sec. 7.3, 7.4, 7.5, ) - Point Estimation and Sampling Distributions     (PPT)

Assigned Problems in Chapter 7 (6th and 7th Eds.): 16, 19

Sample Problems Chapter 7

March 2

Sampling Distributions

Continued

Read Chapter 7 (Sec. 7.6, 7.7, 7.8) – Refer to Point Estimation and Sampling Distributions     (PPT)

Practice Problems for Chapter 7

WEEK 8 – March 5 to March 11 is Spring Break

WEEK 9

March

12, 14, 16

Interval Estimation – Mean

Sample Size Determination

 

QUIZ 3 (March 16)

Read Chapter 8 (Sec. 8.1, 8.2, 8.3) – Interval Estimation     (PPT)

Examples: 1. Lloyd's     2. Scheer     3. Tee Time     4. Job Search  

Sample Problems Chapter 8 

Assigned Problems in Chapter 8 (6th and 7th Eds.): 2, 12, 14, 18 (Data)

Practice Problems for Chapter 8     Additional Practice Problems Chapters 7 and 8

Student's t-distribution          Link to Student's t - distribution Calculator

QUIZ 3 (Chapter 7)

WEEK 10

March

19

Hypothesis Testing-Concept

Read Chapter 9(Sec. 9.1, 9.2)  - Hypothesis Testing     (PPT

Examples: 1. Coffee    2. Women’sGolf  
Assigned Problems in Chapter 9 (6th and 7th Eds.): 1, 3, 4, 6, 10, 11, 13, 26, 28

March

 21, 23

Hypothesis Testing- Test of Means

Read Chapter 9(Sec. 9.3, 9.4, 9.5, 9.6) – Refer to Hypothesis Testing     (PPT

Examples: 1. AIR     2. Used Cars 

Practice Problems for Chapter 9

WEEK 11

March

26

EXAM 3

(Chapters 7, 8 and 9)

March

28

Simple Regression

Read Chapter 14 (Sec. 14.1, 14.2, 14.3, 14, 4, 14.5, 14.6, 14.7, 14.8, 14. 9) – Simple Linear Regression     (PPT

Examples: 1. Reed’s Auto Sales     2. Armand’s Pizza     3. CostofLiving     4. RaceHelmets     5. GPS     6. Exercise

March 29 to April 2 – Easter Break

WEEK 12 (Last day to withdraw with a "W" is April 3)

April

4, 6

Simple Regression

and

R-squared

Testing for Significance

Read Chapter 14 (Sec. 14.1, 14.2, 14.3, 14, 4, 14.5, 14.6, 14.7, 14.8, 14. 9) – Simple Linear Regression     (PPT)  

Examples: 1. Reed’s Auto Sales     2. Armand’s Pizza     3. CostofLiving     4. RaceHelmets     5. GPS     6. Exercise 

Assigned Problems in Chapter 14 (7th Eds):  20 (Data), 27 (Data), 43 (Data), 44 (Data)

Practice Problems Chapter 14

WEEK 13

April

9, 11, 13

Multiple Regression

Multicollinearity

 

QUIZ 4 (April 13)

Read Chapter 15 (Sec. 15.1, 15.2, 15.3, 15.4, 15.5, 15.6, 15.7, 15.8, 15.9) - Multiple Regression     (PPT   Handout - MR   

Examples: 1. ComputerProgramming   2. Butler Trucking  3. Johnson  4. CruiseShips   5. PGATour   6. Coach’sSalary     8. DummyVariable   9. StrokeDV   10.   RestaurantRatings   11. TwoDummy

Assigned Problems in Chapter 15 (6th and 7th): 5 (Data), 38 (Data), 40

Practice Problems for Chapters 14 and 15

Link to Z, Student's t, F and Chi-square Tables Calculator

QUIZ 4 (Chapter 14 and 15)

WEEK 14

April

16, 18

Catching-up Time and Review

Catching-up Time and Review for Exam

April

20

EXAM 4

(Chapters 14 and 15)

 

WEEK 15

April

23, 25, 27

Testing-Test of Independence

Read Chapter 12 (Sec. 12.1, 12.2) - Testing-Test of Independence     (PPT)  

Examples: 1. Research     2. Alber’s     3. M&M   4. IS     5. BeerPreference

WEEK 16

April

30

Last day of Class
Review

Equations Recommended to Know for Test (Yes you can put these on a 3x5 card)

May 1

To

 May 10

FINAL EXAM PERIOD

See Schedule - Please be aware that the final exam schedule is NOT flexible.