ST 350-001, 002, 003 Spring 2021: Economic and Business Statistics Course Information

January 2021
ST 350-001, 002, 003 Spring 2021
ECONOMIC AND BUSINESS STATISTICS

COURSE INFORMATION
"We shall not cease from exploration and the end of all of our exploring will be to arrive
where we started and to know the place for the first time." T. S. Eliot
Instructor
Thomas W. Reiland, 5278 SAS Hall, Tel. 919-515-1939, Fax 919-782-5204;
Email: [email protected]
Moodle: https://wolfware.ncsu.edu/
class web page: https://www4.stat.ncsu.edu/~reiland/courses/st350/
WebAssign: https://www.webassign.net/ncsu/
Course Description
ST 350 is NOT a math course. The central theme of the course is to help you learn to understand the world
from data. Specifically, the course will enable you to:
i) incorporate statistical thinking into your everyday lives;
ii) acquire the necessary data-gathering, data-analysis, and interpretation/communication expertise to meet the
challenges of a more demanding cognitive global environment.
Students will learn how data are produced, how they may be displayed and summarized, both numerically and
graphically, and to be alert to the existence of and problems created by outliers. Students will grasp the logical
and probabilistic reasoning behind statistical inference and learn to apply common statistical methods within
this context. Interesting examples to convey the broad applicability of statistical methods will be provided, but
the principal emphasis throughout the course will be the logic of scientific inference from
experimental/observed data.
This course requires more intellectual effort than the low mathematical level suggests! It is related to
every other course you may study. The course is elementary in mathematical level but conceptually rich in
statistical ideas and serious in its aim to improve your data-analytic skills and your ability to apply statistical
methods with understanding.
Modern statistics is computer intensive and involves a great deal of graphing and calculating. You will use
computer software to automate most calculations and the creation of data-descriptive graphics. This will
enable us to analyze sizeable, interesting, and realistic data sets and move quickly to an understanding of the
big ideas and the beginning of good judgment in working with data that emphasizes understanding, analysis
and interpretation. Calculating answers by hand will be almost nonexistent; for a very small number of
homework problems a calculator will be suitable, but not necessary since you can use your favorite software if
you wish.
Course Schedule
The weekly course schedule with topic coverage and associated narrated powerpoint slides can be viewed by
clicking the red link at the top of the left navigation panel on our class web page
https://www4.stat.ncsu.edu/~reiland/courses/st350/
ST 350 Course Information page 2
Course Materials
For the Spring 2021 semester ST 350 is using the NCSU bookstore's All-In program to deliver the course text
and course pack to students. All-In delivers our ecoursepack and Pearson Publishing ST 350 course ebook the
first day of class to you at a reduced price.
To obtain the ecoursepack and ebook:

Go to our class web page https://www4.stat.ncsu.edu/~reiland/courses/st350/ and click on “Text” in the left
panel to view important information concerning acquisition of the etext and ecoursepack. Note the February
1 purchase deadline. To the right of the flashing red arrow click the link to our ST 350 Moodle page. At our
ST 350 Moodle page click the link next to to view our etext and ecoursepack.
Academic Integrity Policy

Any form of academic misconduct is a violation of the Student Code of Conduct and will not be
tolerated. Academic misconduct may be defined as "any activity which tends to compromise the academic
integrity of the institution, or subvert the educational process". I expect complete honesty in the completion of
webassign homework and tracked tutorial exercises. The student's electronic submission of assigned work
means that the student neither gave nor received unauthorized aid. Cheating on an exam or webassign
homework at the least will result in an F in the course. Students are encouraged to discuss webassign
homework and mastery point practice exercises with each other; however, submission of the answers must be
done independently. Violations of this rule will not be tolerated and will be considered cheating. Further
details on academic integrity are in NC State University's Code of Student Conduct at
http://www.ncsu.edu/student_conduct. Also note the existence of the University policy on academic integrity
found in the Code of Student Conduct (in Appendix L of the Handbook for Advising and Teaching and at.
http://policies.ncsu.edu/policy/pol-11-35-01.
How Your Grade is Determined:
On our class web page

click “Grading; late work” in the left panel.
Exams

click “Exams” in the left panel.
Webassign homework

click “Homework Schedule” in the left panel to view homework information and the due dates of all 12
homework assignments.. Homework 1, due Wed. January 27, is already posted to webassign.
SEE NEXT PAGE FOR SYLLABUS

ST 350 Course Information page 3
Syllabus
Text: Business Statistics by Sharpe, Deveaux, and Velleman, 4th ed., 2019,
Pearson
ST 350 Spring 2021
Economic and Business Statistics
"But where shall I begin?" asked Alice. "Begin at the beginning," the King said gravely, "and go
on till you come to the end; then stop." Lewis Carroll, Alice's Adventures in Wonderland
PART I Exploring and Collecting Data

CHAPTER 1 Data and Decisions
CHAPTER 2 Visualizing and Describing Categorical Data
CHAPTER 3 Describing, Displaying and Visualizing Quantitative Data
CHAPTER 4 Correlation and Linear Regression
PART II Modeling with Probability

CHAPTER 5 Randomness and Probability
CHAPTER 6 Random Variables and Probability Models
CHAPTER 7 The Normal and Other Continuous Distributions
PART III Gathering Data

CHAPTER 8 Data Sources: Observational Studies and Surveys
CHAPTER 9 Data Sources: Experiments
PART IV Inference for Decision Making

CHAPTER 10 Sampling Distributions and Confidence Intervals for Proportions
CHAPTER 11 Confidence Intervals for Means
CHAPTER 12 Testing Hypotheses
CHAPTER 13 More About Tests and Intervals
CHAPTER 14 Comparing Two Means
CHAPTER 15 Comparing Two Proportions
PART V Models for Decision Making

CHAPTER 16 Inference for Regression
CHAPTER 17 Understanding Residuals
CHAPTER 18 Multiple Regression
CHAPTER 19 Building Multiple Regression Models,
Indicator Variables and Interaction Terms

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January 2021

ST 350-001, 002, 003 Spring 2021

ECONOMIC AND BUSINESS STATISTICS

To obtain the ecoursepack and ebook:

Academic Integrity Policy

How Your Grade is Determined:

On our class web page

On our class web page

On our class web page

SEE NEXT PAGE FOR SYLLABUS

PART I Exploring and Collecting Data

PART II Modeling with Probability

PART III Gathering Data

PART IV Inference for Decision Making

PART V Models for Decision Making

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