School of Economics and Administrative Sciences \ Economics
Course Credit
ECTS Credit
Course Type
Instructional Language
Programs that can take the course
Economics, Business Administration, International Entrepreneurship
This course is designed as an introduction to probability theory and statistics The main topics of the course are: Introducing different data types, describing data using tables and graphs, probability theory, discrete random variables, continuous random variables, samples and sample distributions, point and
interval estimation, hypothesis testing.
Textbook and / or References
Statistics for business and economics / Paul Newbold, William L. Carlson, Betty M. Thorne.
The aim of the course is to teach the basic concepts in probability and statistics that students will need to know in order to make decisions and analyze data and produce information in an environment of uncertainty, regardless of the sector they will work in the future.
Another purpose of this course is to prepare students for other advanced quantitative courses for which statistics is a prerequisite
1. To understand the basic concepts of probability theory, probability calculations, and to gain the ability to make data-driven decisions under uncertainty.
2. To learn different types of probability distributions; understand the difference between a sample and population; learn to make inference based on sample; and be able to conduct point and interval estimations,
3. Being able to construct a hypothesis test and interpret the results
Week 1: Data descriptions (Newbold Chapter 2)
Week 2: Data descriptions, continued (Newbold Chapter 3)
Week 3: Probability theory (Newbold Chapter 4)
Week 4: Probability theory (Newbold Chapter 4)
Week 5: Discrete random variables and probability distributions (Newbold Chapter 5)
Week 6: Discrete random variables and probability distributions (Newbold Chapter 5)
Week 7: Continuous random variables and probability distributions (Newbold Chapter 6)
Week 8: Continuous random variables and probability distributions (Newbold Chapter 6), Sampling distributions (Newbold Chapter 7)
Week 9: Sampling distributions (Newbold Chapter 7), Point and interval estimation (Newbold Chapter 8)
Week 10: Point and interval estimation, continued (Newbold Chapter 9)
Week 11: Hypothesis testing (Newbold Chapter 10)
Week 12: Hypothesis testing (Newbold Chapter 11)
Tentative Assesment Methods
• Midterm 30 %
• Final 40 %
• Quizes 15 %
• Homework 15 %
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