All programmes > Statistics for Business 1

Statistics for Business 1 (B-KUL-HBA68A)

3 ECTSEnglish52 Second term
Dierckx Goedele (coordinator) |  Dierckx Goedele |  N. |  Hendrickx Jef (substitute) |  Boeckx Eric (cooperator) |  Egholm Laura (cooperator) |  Ramos González Julia (cooperator)  | LessMore
OC Business Administration FEB Campus Brussel

Aims

It is necessary for a professional business economist to be able to interprete in a correct way these data and research.Statistics for Business Economists 1 starts with descriptive statistics. The second part of the course consists of an introduction to the theory of probability which is needed for the study of so called inductive statistics in the advanced courses.

In this course, the following key objectives are (partially or fully) realized:

  • Uses descriptive and inferential statistical methods and techniques to solve (business) economic problems.
    • Applies descriptive statistical methods and techniques 
  • In line with the given practical relevance and the definition of the (business) economics problem, chooses and uses the appropriate techniques to acquire, analyse and interpret data.
    • Chooses and uses the appropiate descriptive statistical techniques to analyse and interpret data. 
  • Critically assesses (scientific) information, data and structures, and processes all this in line with solving (business) economics problem with practical relevance.
    • Summarizes (scientific) information and data by means of descriptive statistics and graphs. 
  • Is familiar with relevant ICT applications and uses the knowledge and skills to solve (business) economic problems.
    • Is familiar with relevant ICT applications for graphical and algebraic descriptive statistical techniques. 

The position of the course in the framework of the learning objectives of the programme can be found under the section “Objectives” of the “Bachelor of Business Administration (Brussels)”.

Previous knowledge

If you want to follow this course, it is advisable to have completed the following courses first

- Mathematics for Business Economists 1 A have a level of knowledge and especially of maturity that will favor their understanding of Statistical Methods for Business Economists I.

- It is recommended to be able to use MS Excel.

 

Identical courses

This course is identical to the following courses:
HBH69A : Statistiek voor bedrijfswetenschappen 1
HLH28A : Statistiek voor bedrijfseconomen 1 (No longer offered this academic year)
Y00916 : Statistiek voor bedrijfswetenschappen 1

Is included in these courses of study

Activities

3 ects. Statistics for Business 1 (B-KUL-HBA68a)

3 ECTSEnglishFormat: Lecture52 Second term
Dierckx Goedele |  N. |  Hendrickx Jef (substitute) |  Boeckx Eric (cooperator) |  Egholm Laura (cooperator) |  Ramos González Julia (cooperator)  | LessMore
OC Business Administration FEB Campus Brussel

Content

Part 1. Descriptive Statistics

Chapter 1 Univariate analysis

  • Introduction
  • Types of data ( discrete - non discrete; levels of measurement) 
  • Represent data by using graphs and tables
  • Represent data by using data-characteristics
  • Numerical methods: central measures measures of spread, skewness, peakedness; quantiles

Chapter 2 Bivariate data

  • Represent data by using praphs and tables.
  • Represent data by using data-charateristics.
  • Least squares method and linear regression.
     

Part 2  Introduction to Probability theory

Chapter 3 Probability theory

  • Randomness, random experiments, events 
  • Experimental definition of randomness
  • Uniform probabilities
  • Probability rules

Chapter 4 Random variables

  • Discrete and continuous random variables
  • Characteristics of random variables
  • The normal distribution
  • The binomial distribution
  • Other popular distributions

Chapter 5 Random vectors

  • Covariance and correlation
  • Linear combination
  • Sum of independent random variables
  • The Central Limit Theorem

Course material

http://public.hubrussel.be/Ancor/SSM/Pages/BekijkSSM.aspx?ACJ=2012&OID=1776

Format: more information

Classes consists of a combination of plenary lectures (2 hours per week) and tutorials in a smaller group (2 hours per week). During the lectures, the new concepts and methods are introduced, explained and illustrated in examples and applications. In the tutorials, students solve problems under the guidance of a lecturer and receive feedback on their way of working and proposed solutions.

 

*

--

Evaluation

Evaluation: Statistics for Business 1 (B-KUL-H70031)

Type : Exam during the examination period
Description of evaluation : Written
Type of questions : Open questions
Learning material : List of formulas, Calculator

Explanation


Students are evaluated on the basis of a written exam with exercises about descriptive statistics and probability theory. The exam takes place in an ordinary room, and is organised during the exam period of June. More detailed information is provided on Toledo.

It is important not only to give solutions to the problems but to also describe briefly the applied methods and concepts. The exam consists of exercises. These exercises are of the same type as the ones solved in class or during tuition.

Students are supposed to have a graphical calculator at their disposal and to be able to use it (equivalent to TI 84 plus of Texas Instruments). Students are allowed to use a formula sheet on the exam. There is no restriction on the content, but there are restrictions on the format: a formula sheet is ONE A4 leaf that can be filled on both sides and must be handwritten.

Information about retaking exams

The evaluation methods of the first and the second exam opportunities are identical.